NEWS WRAP: Alibaba marketplaces start accepting WeChat pay
China’s leading e-commerce marketplaces had resisted using the Tencent-backed payment service for years in favor of services from its affiliate Alipay By Teri Yu E-commerce giant Alibaba Group Holding Ltd.…
FAST NEWS: Tencent Music’s profit climbs on paying user growth
The Latest: Tencent Music Entertainment Group (TME.US; 1698.HK) on Tuesday announced its second-quarter net profit rose 29.6% year-on-year to 1.68 billion yuan ($231 million). Looking Up: The company's profit rose even as its…
NEWS WRAP: Blockbusters charge up China Literature’s profits
The Tencent-backed online literature platform saw strong growth from its intellectual property operations By Teri Yu Online literature platform China Literature’s (0772.HK) revenue rose 27.7% year-on-year to 4.19 billion yuan…
FAST NEWS: Linmon Media swings to the red on TV drama delay
The Latest: TV drama producer Linmon Media Ltd. (9857.HK) said on Friday it expects to report a net loss of 50 million yuan ($7 million) to 55 million yuan for…
FAST NEWS: Chenqi Tech narrows loss in HK trading debut
The Latest: Chinese ride-sharing company Chenqi Technology Ltd. (9680.HK) opened at HK$30 in their Wednesday trading debut, 14.3% lower than their IPO price of HK$35, giving the company a market capitalization…
FAST NEWS: DouYu Shares surge on special dividend plan
The Latest: Livestreaming game platform DouYu Holdings Ltd. (DOYU.US) on Wednesday announced a special cash dividend of $9.76 per share, to shareholders of record of ordinary shares and American Depositary…
Game operator ZX sees creative future in AI
The owner of the Tan Wan platform has invested HK$100 million to set up a subsidiary to apply artificial intelligence to the gaming industry Key Takeaways: ZX revenue fell 26% to…
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