TENCENT HOLDINGS LTD

16 Aug

Jack Ma-Backed Ant Weighs Buying Health-Care Platform Haodf

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Jack Ma-backed Ant Group Co. is in discussions to acquire Chinese online platform Haodf.com to beef up its artificial intelligence services in health care, according to people familiar with the matter.The fintech company is seeking to integrate its technology with a platform like Haodf that provides online consultations with doctors, the people said, requesting not to be named because the discussions are private. The deliberations are still preliminary and could be subject to change, the people said. Source link lol

16 Aug

Chinese Tech Stocks Rally as JD.com Spurs Earnings Optimism

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Chinese technology stocks gained as resilient earnings from major e-commerce firms helped soothe concerns over weak consumption. The Hang Seng Tech Index rose as much as 2.2%, poised for its best day in August. JD.com Inc. contributed to about a third of the index’s gains after shares jumped more than 9% following a strong profit beat. Alibaba Group Holding Ltd. rose over 4% as traders focused on positive elements of its mixed results. Source link lol

16 Aug

Alibaba’s Long-Awaited China Stock Link May Provide Timely Boost

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Chinese investors finally being able to buy shares of Alibaba Group Holding Ltd. may provide a much-needed boost for the e-commerce firm’s stock, with an inflow of up to about $20 billion into next year.The company first hatched the plan for an upgrade to a primary listing in Hong Kong two years ago amid heightened tensions with the US. It may at last be realized by the end of the month, paving the way for it to join a program that connects the Shanghai and Shenzhen bourses to the Hong Kong exchange. Source link lol

14 Aug

Tencent Says in Talks With Apple About Mini Games Mobile Revenue

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Tencent Holdings Ltd. acknowledged for the first time it’s in discussions with Apple Inc. about sharing the revenue that flows through its popular WeChat mini games, a potentially significant move for China’s mobile developer ecosystem.The Chinese company is exploring ways to offer in-app transactions via Apple’s iOS payment system, Chief Strategy Officer James Mitchell told analysts on an earnings call. Such a change would enable the US firm to begin taking a cut of in-game transactions. Source link lol

14 Aug

Tencent’s Sales Growth Sped Up After Blockbuster Game Release

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Tencent Holdings Ltd.’s revenue accelerated its growth after the blockbuster summer release of Dungeon & Fighter Mobile helped lift China’s most valuable company out of a gaming trough.Revenue jumped 8% to 161.1 billion yuan ($22.5 billion) for the April-June period, versus the projected estimate of 161.4 billion yuan. Net income surged to 47.6 billion yuan, compared with the estimated 39.9 billion yuan. Source link lol

14 Aug

Tencent’s Buyback Plan in Focus as Chinese Tech Rivals Catch Up

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Investors will scrutinize any comments from Tencent Holdings Ltd. about its buyback plans during Wednesday’s quarterly results announcement as its competitors catch up with its spending levels.Tencent has forked out almost $8 billion this year to repurchase its Hong Kong-listed shares, more than any other company on the exchange, according to data compiled by Bloomberg. The firm is widely expected to keep spending as its total outlay this year is only about 60% of the $12.8 billion it projected for the whole of 2024. Source link lol

09 Aug

Alibaba, Tencent to Provide Snapshot of China’s Economic Landscape

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Alibaba Group Holding Ltd., Tencent Holdings Ltd. and JD.com Inc. will provide a snapshot of China’s economy and consumer sentiment, as another somber earnings season is expected in the region.The tech giants remain focused on boosting shareholder returns, so more buybacks might be in store when they report, accordingBloomberg Terminal to Bloomberg Intelligence analysts Robert Lea and Jasmine Lyu. Source link lol

07 Aug

Adanis Rejig Digital Strategy as SuperApp Struggles for Traction

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Adani Group is reworking its digital strategy that includes bolstering online payment through partnerships as Gautam Adani’s conglomerate looks to make its superapp an essential part of Indians’ lives.Adani One, with a user base of 30 million as of March 31, will widen its offerings to be more than just a travel app, Jeet Adani, the younger son of the billionaire-patriarch who is overseeing the group’s digital plans, told Bloomberg Television as part of a special package, Inside Adani. The platform was rolled out in December 2022, mostly for booking flights, hotels and services at the 7 airports operated by…

06 Aug

Xiaomi-Backed AI Chipmaker Black Sesame Prices Hong Kong IPO at Bottom of Range

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Black Sesame International Holding Ltd. has priced its Hong Kong initial public offering at the low end of the marketed range, people with knowledge of the situation said, as the recent global selloff in stocks piles extra pressure on new share issues. Black Sesame, which designs chips for autonomous driving systems and is backed by Xiaomi Corp., was offering 37 million shares at HK$28 to HK$30.30 each. At HK$28 per share, the IPO raised HK$1.04 billion ($133 million), still making it one of the biggest in Hong Kong this year. Source link lol