Tencent Holdings Ltd. (OTCMKTS: TCEHY) Warns That Increased Regulatory Scrutiny In China Will Hurt Growth

Tshepong Victim Empowerment Centre celebrates ORANGE DAY

Tshepong Victim Empowerment Centre commemorates ORANGE DAY every month on the 25th of each month.. As the bright and optimistic colour for the UNITE Campaign, ORANGE represents a future free from violence against women and Girls.

Four in court for alleged Public Works tender collusion

The Special Investigating Unit (SIU) says the arrest of four people linked to alleged tender fraud in the Department of Public Works and Infrastructure is a continuation of the corruption busting unit’s efforts to recover money stolen from the public purse.The Special Investigating Unit (SIU) says the arrest of four people linked to alleged tender fraud in the Department of Public Works and Infrastructure is a continuation of the corruption busting unit’s efforts to recover money stolen from the public purse.

Two suspected cable thieves arrested while on their way to Zimbabwe

Jo'burg Metro Police Department JMPD and SAPS officers in the JHB and CBD have arrested two suspects who were in possession of stolen cables in Johannesburg Central Business District.

Several dignitaries wish people Happy Africa Day 2022

The African Union Commission celebrates "Africa Day" on May 25 each year to acknowledge its successes and to promote the progress that Africa has made under a specific theme while reflecting upon the common challenges that the Continent faces in a global environment. 

Tencent Holdings Ltd. (OTCMKTS: TCEHY) has advised investors to be prepared for more regulatory controls on China’s Internet sector, implying that Beijing intends to tighten restrictions on the country’s tech behemoths.

Tencent affected by the push to redistribute wealth

China’s -largest tech firm posted the worst quarterly growth in revenue since the beginning of 2019, highlighting the impact of *crackdowns on the edtech sector, which is a major source of advertising revenue. In addition, the company suffered from President Xi Jinping’s push to alleviate social evils and reduce inequality, as its primary mobile gaming segment cooled after cutting playing time for minors.

The months-long campaign has sparked a trillion-dollar selloff in Chinese stocks and thrown businesses including education, internet commerce, and car-sharing into disarray. However, after gaming revenue growth slowed, Tencent’s sales increased 20% to $21.3 billion for the quarter ended June.

Tencent President Martin Lau told analysts, “In the near future, more regulations should be coming. This should be expected because the regulation has been quite loose over an industry like the internet, considering its size and the importance.”

Enhanced scrutiny and growing competition from the likes of ByteDance has prompted Tencent to join the likes of Alibaba Group Holding Ltd. (NYSE: BABA) to spend part of their profits on games, short videos, and cloud services. Also, the company has joined peers in increasing philanthropy.

Tencent participating in philanthropic initiatives

However, some investors are concerned that the increased generosity may eat into profit margins. In Q3, Tencent’s net profit was 42.6 billion yuan, exceeding expectations of 30.8 billion yuan, thanks to a gain of over 20 billion yuan on its global assets.

Bernstein analyst Robin Zhu said, “Tencent management noted that there was ‘a lot more to come’ on the regulation front across multiple segments from different regulators. This is clearly not ideal. But more positively, management expressed confidence that the company could remain fully compliant – while staying the course on long-term strategy and monetization, and ensuring a stable long-term earnings profile.”

Tshepong Victim Empowerment Centre celebrates ORANGE DAY

Tshepong Victim Empowerment Centre commemorates ORANGE DAY every month on the 25th of each month.. As the bright and optimistic colour for the UNITE Campaign, ORANGE represents a future free from violence against women and Girls.

Four in court for alleged Public Works tender collusion

The Special Investigating Unit (SIU) says the arrest of four people linked to alleged tender fraud in the Department of Public Works and Infrastructure is a continuation of the corruption busting unit’s efforts to recover money stolen from the public purse.The Special Investigating Unit (SIU) says the arrest of four people linked to alleged tender fraud in the Department of Public Works and Infrastructure is a continuation of the corruption busting unit’s efforts to recover money stolen from the public purse.

Two suspected cable thieves arrested while on their way to Zimbabwe

Jo'burg Metro Police Department JMPD and SAPS officers in the JHB and CBD have arrested two suspects who were in possession of stolen cables in Johannesburg Central Business District.

Several dignitaries wish people Happy Africa Day 2022

The African Union Commission celebrates "Africa Day" on May 25 each year to acknowledge its successes and to promote the progress that Africa has made under a specific theme while reflecting upon the common challenges that the Continent faces in a global environment. 

Pastor Luthando Matodlana found guilty of raping 22-Year-Old man

One South African pastor, Luthando Matodlana of God, is Love Ministry in Motherwell, Gqeberha, South Africa, has been found guilty of raping a 22-year-old man.

Mec Lekwene inspects Robert Mangaliso Sobunke hospital – Food Service Unit

Today, the Northern Cape Health MEC, Mr Maruping Lekwene, conducted an oversight visit to Robert Mangaliso Sobukwe hospital in Kimberley.

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