Yibada — Reports were released Monday revealing that Tencent is now the largest Asian company and had overtaken Alibaba. Tencent’s current market value is at HK$1.99 trillion or $255.8 billion.Li Chengdong, a Beijing-based independent e-commerce strategy analyst, said, “Tencent’s market value is based on its current and previous good financial situation, which is driven by the company’s core businesses including advertisements, games, e-commerce and financial services.”
Bloomberg — Tencent Holdings Ltd.’s shopping spree on premium content from Game of Thrones to NBA broadcasts has again helped defy investors’ expectations and a slowing Chinese economy. Second-quarter sales and profit beat analysts’ estimates as the operator of the WeChat and QQ social network services splashed out on mobile games and content — including anything from anime and comics to novels.
Tech in Asia — Tencent has done it again. The Chinese social and gaming giant has for years now been one of China’s biggest overseas investors, but its most recent purchase may take the cake: the company has splashed US$8.9 billion to acquire Supercell. Supercell, the Finnish mobile game developer behind the global hit Clash of Clans, is the second-biggest mobile game company on earth according to Pocket Gamer, and it did a whopping US$2.3 billion in saleslast year.
Mobile World Live — Chinese internet giant Tencent is partnering with Japanese social data provider Hotto Link to roll out its WeChat Pay service to 10,000 stores in Japan by the end of the year. According to Nikkei Asia Review, only a few Japanese stores have adopted WeChat Pay, which is targeted at Chinese travellers who account for a quarter of all visitors to Japan and spend a lot more than other groups.
Nikkei — BEIJING — China’s leading mobile hardware maker ZTE and internet services company Tencent Holdings have jointly developed an environmentally-friendly data center. According to a joint statement on Monday, the “Tencent West Lab,” as it is named, is a mobile, containerized data center requiring low levels of energy for operation.
ZDNet — If you still think Chinese tech companies are only about replicating the innovations that others have made, then you’ve got some catching up to do. Today’s Chinese tech sector is filled with a number of disruptive companies that are not only competing but leaping ahead in the race to build better products and use tech to solve important problems.
Nikkei — HONG KONG — Tencent Holdings reported strong first-quarter earnings that beat analyst forecasts as the Chinese tech giant drew in more users and advertisers to its gaming and social media platforms. However, some advertisers are growing cautious in their spending amid the country’s economic slowdown.
Tech in Asia — Last week, WeChat rolled out its answer to Slack, WeChat Enterprise. But while Slack itself has never had a large presence in China, WeChat isn’t waltzing into this market alone – Alibaba’s DingTalk was there first, and the company isn’t looking to give in easily.
The Next Web — WeChat is ready to take on a new market: the office. The company today launched WeChat Enterprise, essentially its competitor to the ever-growing Slack. First announced in March, it has most of the features you expect from standard WeChat. You can make groups, send photos, voice clips, files, locations and even stickers. However, it differentiates itself with a few work-centric changes.
Asia Times — Much like in the US, China’s Internet giants are borrowing large amounts of money in order to take each other on for dominance of the online market. On Friday, it was reported that Tencent Holdings, best known for its WeChat mobile app, is seeking a loan of up to $2 billion, two people involved in the financing told Thomson Reuters LPC, a loan-focused news service.
China Tech News — Unfortunately it would be more of a surprise that a Chinese Internet company did not have a security hole, but the latest finding from an overseas research team confirms that Tencent’s QQ Browser leaks user data. Tencent, China’s largest Web portal company, itself also confirmed the vulnerabilities to the researchers at Citizen Lab, an interdisciplinary laboratory based at Canada’s Munk School of Global Affairs in the University of Toronto.
Advanced Television — BBC Worldwide Asia has announced a new licensing deal with Chinese ISP Tencent at MIPTV. The deal will see more than 1,000 hours of documentaries from the BBC added to the Tencent online video platforms, including v.qq.com and the Tencent Video app.
Add this to the list of things you can do with WeChat: buy Apple gadgets. Tencent’s messaging-app-cum-everything-platform announced Wednesday that support for WeChat Pay has been added to Apple’s official online stores in China. That means that you can now use WeChat pay for all of your Apple gadget and accessory needs.
ZDNet — The QQ browser from Tencent has been found by Citizen Lab, a research group within the University of Toronto, to be transmitting personally identifiable data with little or no encryption, leaving users open to man-in-the-middle data collection. In its findings, Citizen Lab said that QQ is also vulnerable to arbitrary code execution thanks to an insecure update process.
Digi Times — Tencent on March 17 released its financial report for 2015, with consolidated revenues of CNY102.863 billion (US$16.37 billion) increasing 30.32% on year, according to the company. There were 853 million active users of QQ and 697 million active users of WeChat instant messenger each month in 2015, Tencent said.
Tech in Asia — To many, watching other people play video games sounds like a special rung of hell. But Twitch.tv has proven that the younger generations are into it, and that they’re willing to spend quite a bit of money following their favorite streamers. In China, Douyu TV is doing the same thing. And it just finalized a US$100 million investment to help further its expansion.
Bloomberg — Not happy with your nose and want to check out the nearest plastic surgery center? There’s an app for that in China and it lets you share before and after photos with other users. SoYoung Technology (Beijing) Co., the developer of the application, has attracted Tencent Holdings Ltd. in a financing round of $50 million, according to a statement from the company on Monday.
Tech in Asia — Indian online travel venture ibibo Group has a quarter of a billion reasons to celebrate. Last night, it announced that South African global internet and media company Naspers Group will be pouring another US$250 million of investment into the group. Ibibo is a joint venture between Naspers and Chinese internet giant Tencent.
Tech in Asia — The battle over the Chinese epayment market is raging fiercely now that Apple Pay and Samsung Pay have taken to the field in China. But WeChat Pay is heading in the opposite direction: the service announced yesterday that it’s launching support for overseas vendors. The system will allow Chinese users to put money into their WeChat Pay accounts in RMB (as they currently do).
SCMP — Unfazed by a lingering economic slowdown, China is on pace to overtake Japan this year as the world’s second-largest market for information technology goods and services, behind the United States. Business and government expenditure on technology, including telecommunications services, in mainland China is forecast to reach US$224 billion this year, compared with US$203 billion in Japan, according to new data from Forrester Research.