A view of iQiyi’s website featuring a variety TV show, taken on Tuesday, Aug. 22, 2023. Bloomberg | Bloomberg | Getty Images BEIJING — Chinese video content and streaming company iQiyi CFO Wang Jun said he is “excited” about potential new business opportunities with the emergence of OpenAI’s text-to-video tool Sora. Speaking exclusively to CNBC … Read more
A mobile phone is displaying the screen of Tencent Games company’s stock plunge in Suqian, Jiangsu Province, China, on December 22, 2023. Costfoto | Nurphoto | Getty Images Chinese online gaming stocks rose Wednesday, recovering some losses from the previous session after the country’s top gaming regulator said it will “carefully study” the concerns of … Read more
Mobile games in China range from League of Legends-like Honor of Kings to Source: Apple Inc. BEIJING — China’s proposed gaming rules would hit smaller developers more than large ones, while also reducing overall online advertising revenue, according to UBS. Tencent, NetEase and Bilibili shares plunged to their lowest in more than a year Friday … Read more
Tencent lost about $43.5 billion in market value on Friday after China surprised financial markets with a fresh set of rules aimed at curbing excessive gaming and spending. The draft guidelines from China’s National Press and Publication Administration sank the Hong Kong-listed shares of Tencent, NetEase and Bilibili — among the largest online gaming-related counters … Read more
