|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||48.70 - 49.69|
|52 Week Range||40.04 - 52.51|
|Beta (5Y Monthly)||1.28|
|PE Ratio (TTM)||36.11|
|Forward Dividend & Yield||0.26 (0.51%)|
|Ex-Dividend Date||May 15, 2019|
|1y Target Est||52.08|
(Bloomberg) -- PayPal Holdings Inc. is taking another step into the giant Chinese payments market, partnering with state-backed China UnionPay Co. in a move that could expand PayPal’s network in the country. The partnership will allow some UnionPay cardholders access to PayPal’s network, and eventually, could pave the way for PayPal to be accepted at Chinese locations that take UnionPay.Users of Shanghai-based UnionPay, the world’s largest card company by payment volume, will be able to add their UnionPay cards to PayPal accounts and use them in a number of countries where PayPal is accepted outside of China. “There is a lot of room for us to help people visiting from China find a way to pay while traveling,” Jim Magats, senior vice president of global payments at PayPal, said in an interview.The companies also said that the tie-up would allow PayPal and UnionPay’s global subsidiary, UnionPay International, to “explore opportunities” to expand PayPal’s reach in China. In a statement, Magats said the new partnership would give the company the option to “expand PayPal’s digital wallet to physical retail locations where UnionPay is accepted in China, or internationally.”The UnionPay partnership is part of a string of moves by PayPal to grow its Chinese presence. In September, China’s central bank granted PayPal approval to buy a 70% stake in a Chinese payment company Gopay Information Technology Co., allowing PayPal to become the first foreign compapny to operate in China’s payment service market. Gopay has licenses for online, mobile and cross-border yuan payment services.China’s $27 trillion payments industry is dominated by a few companies, with Ant Financial Services Group and Tencent Holdings Ltd. accounting for a majority of digital payments, according to Bloomberg Intelligence. However, in a recent interview with Bloomberg, PayPal Chief Executive Officer Dan Schulman said that it wasn’t too late for the company to stake a claim there. “It’s an exploding market,” he said. “It’s growing so quickly that there’s room for every player in it.”On Wednesday, UnionPay cards will be available to be added to PayPal wallets in Australia, the Philippines, Singapore, South Korea and Thailand. The companies said they plan to add the option for more than 30 other markets in 2020.To contact the reporter on this story: Julie Verhage in New York at email@example.comTo contact the editors responsible for this story: Mark Milian at firstname.lastname@example.org, Anne VanderMeyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Tencent, one of the world's biggest video and online gaming companies by revenue, today made another move to help cement that position. The Chinese firm has made an offer to fully acquire Funcom, the games developer behind Conan Exiles (and others in the Conan franchise), Dune and some 28 other titles. Funcom is traded publicly on the Oslo Stock Exchange, and the board has already recommended the offer, which is being made at NOK 17 per share, or around 27% higher than its closing share price the day before (Tuesday).
SHANGHAI/HONG KONG, Jan 22 (Reuters) - Companies across China are handing out masks and warning staff to avoid the central Chinese city of Wuhan amid fears that the new flu-like coronavirus will rapidly spread with much of population embarking on travel for Lunar New Year holidays. Firms from Foxconn to Huawei Technologies and HSBC Holdings have issued advisories, while the government has urged members of the public to be extra careful if showing symptoms of a fever or a cold and has asked travel and other companies to accommodate people who might be affected. At Foxconn's Lunar New Year party on Wednesday, founder Terry Gou advised Taiwan-based employees not to visit mainland China during the week-long holiday period.
Threatened by a new virus outbreak, many Chinese have been turning to an online plague simulation game and a disaster movie called "The Flu" as part of coping mechanisms. "Plague Inc.", a strategy simulation app by UK-based Ndemic creations, was by Wednesday the top-paid game on the iOS operating system on China's Apple Store. "The best way to conquer fear is to confront fear," said one commentator on China's Twitter-like Weibo.
China's Tencent Holdings launched a 1.33 billion Norwegian crown ($148 million) bid for computer games maker Funcom on Wednesday, sending the Oslo-listed firm's shares sharply higher. The board and management of Funcom unanimously supported the all-cash bid of 17 crowns per share, a 27% premium to Tuesday's closing price of 13.35 crowns, the companies said in a joint statement. Funcom's shares were up 26.2% at 16.85 crowns by 0817 GMT.
(Bloomberg) -- Tencent Holdings Ltd. is planning a major update to its WeChat messaging app to stave off up-and-comer ByteDance Inc. and counter the startup’s growing dominance of short-form video.WeChat, used by more than a billion people for everything from messaging to booking meals and movies, will soon add a feature to let users publish video clips and photos to their followers via a feed -- not unlike Twitter’s. That’s a departure from the current format that focuses on articles (with accompanying visuals). While it’s unclear what the final product will look like, Tencent wants users to be able to share video and content directly with one another. It began on Monday inviting select individuals and organizations that run public accounts to test the feature.A Tencent representative said the service will launch soon, without elaborating.The foray into short-video publishing marks Tencent’s latest endeavor to recover lost ground from ByteDance, which created social media phenom TikTok and its Chinese twin Douyin. The latter, which now serves 400 million daily active users in China, has hurt Tencent’s bottom line by luring teens and advertisers away from WeChat.ByteDance, the world’s most valuable startup, is increasingly challenging Tencent’s lead in Chinese social media thanks to its Toutiao news service and TikTok-Douyin. The two are sparring in a number of fields revolving around online content. ByteDance has quietly built up a 1,000-strong gaming division to spearhead a serious foray into hardcore or non-casual games, tackling Tencent on its home turf, Bloomberg News has reported.Read more: ByteDance Plans Assault on Tencent’s Mobile Gaming Kingdom“While Tencent’s strategy to retain users and content makes sense, the company needs to tread carefully, because unrestricted short-video publishing may lead to content that is trashy and low-brow, and often also repetitive and non-differentiated,” said Bloomberg Intelligence analyst Vey-Sern Ling.WeChat’s new feature was first hinted at by founder Allen Zhang this month at a developer conference in Guangzhou. In a prerecorded video, the leader confessed he made a mistake by focusing too much on text articles in its current public feed, rather than short-form visual content. “We lack a vehicle for everyone to create,” Zhang said.Tencent is trying to win back younger users addicted to lip-syncing music and dance videos on Douyin, while also seeking to unlock a new channel for clients to place ads. Jefferies analysts including Thomas Chong expect Tencent’s social ad business to grow 30% this year, citing diverse offerings orbiting the WeChat universe. “Social ad is a unique asset and maintains solid momentum in 2020,” they wrote in a Jan. 20 report.This isn’t Tencent’s first crack at short videos. In December 2018, WeChat introduced a Snapchat-like video feature to its semi-public Moments feed, but it barely gained traction. The company has also created several standalone mini-video apps to rival ByteDance’s offerings.Read more: WeChat’s Star Founder Seeks Second Act for China’s Super-App(Updates with analyst comment in sixth paragraph)To contact the reporter on this story: Zheping Huang in Hong Kong at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Vlad SavovFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
French startup Qonto has raised a $115 million Series C funding round led by Tencent and DST Global. Today’s news comes a few days after another French fintech startup, Lydia, raised some money from Tencent. Existing investors Valar and Alven are also participating in today’s funding round.
Moody's Investors Service has assigned a Ba3 senior unsecured rating to the proposed notes to be issued by Wanda Properties Overseas Limited, a wholly owned subsidiary of Wanda Commercial Properties (Hong Kong) Co. Limited (Wanda HK, Ba3 stable). The proposed notes will be guaranteed by Wanda HK, which is a wholly-owned subsidiary of Dalian Wanda Commercial Management Group Co., Ltd. (DWCM, Ba1 stable). Wanda HK and its parent are together known as Dalian Wanda Group.
Chinese tech giant Tencent Holdings said it will step up its investment overseas and in industries such as "smart retail", having already invested in more than 800 companies. Tencent is known to have stakes in firms such as food delivery giant Meituan Dianping, e-commerce site Pinduoduo and video game companies such as Riot Games and Supercell. "Previously our traditional investment sectors were mostly focused on video games content and frontiers of science and technology," Lau told a gathering of more than 500 Tencent-backed companies.
(Bloomberg) -- ByteDance Inc. is preparing a major push into the mobile arena’s most lucrative market, a realm Tencent Holdings Ltd. has dominated for over a decade: games.Sign up for Next China, a weekly email on where the nation stands now and where it's going next.The world’s most valuable startup has rapidly built a full-fledged gaming division to spearhead its maiden foray into hardcore or non-casual games, according to people familiar with the matter. Over the past few months, ByteDance has quietly bought up gaming studios and exclusive title distribution rights. It’s embarked on a hiring spree and poached top talent from rivals, building a team of more than 1,000. Its first two games from the venture will be released this spring, targeting both local and overseas players, one person said.Commonly compared to Facebook Inc. because of its billion-plus users and sway over American teens via social media phenom TikTok, ByteDance is looking to expand its horizons. It started as a popular news aggregator with the Toutiao app in China before setting the world ablaze with short-form video sharing on TikTok and its Chinese twin app Douyin. Now it’s looking to go beyond cheap ads and develop recurring revenue streams by taking on the Tencent gaming goliath in the chase for coveted distribution rights.“Having fully established itself as a leader in short video with over one billion users across its apps, ByteDance is now building multiple game studios by acquiring experienced game developers and talent,” said Daniel Ahmad, analyst with Asia-focused gaming research firm Niko Partners. “Its massive global user base and investment in gaming could make it a big disruptor in the gaming space this year.”Read more: ByteDance Is Said to Weigh TikTok Stake Sale Over U.S. ConcernsGaming in China has long been a Tencent fortress, with Netease Inc. a distant second. But ByteDance might be the one company capable of upsetting that status quo, having already defied convention by surviving and flourishing outside the orbit of Alibaba Group Holding Ltd. and Tencent, who between them have locked up much of the country’s internet sphere. Toutiao is a key channel for Chinese game publishers to acquire new users, with 63 of the top 100 ad spenders among mobile games in 2019 devoting most of their ads to the news app, according to data tracked by Guangzhou-based researcher App Growing.Representatives for ByteDance, Tencent and Netease declined to comment for this story. Shares in Tencent went down as much as 0.6% during morning trading on Monday.Read more: Snap CEO Spiegel Says TikTok Could Grow Bigger Than InstagramOver the past few years, ByteDance has churned out several casual games that have grown popular with the help of its video platforms, but those quick hits made money mostly through ads. Its new foray into gaming involves a much bigger investment and is shaping up to be a major strategic shift, targeting more committed gamers who will splurge on in-game weapons, cosmetics and other perks.It could help the company diversify its sources of revenue at a time when the Chinese economy shows signs of slowing and TikTok draws scrutiny in the U.S. ByteDance is also testing a new paid music app in Asia, adding to its swelling portfolio of ventures. Steady revenue sources would help position ByteDance for an eventual initial public offering.While the move into serious gaming is very much at an embryonic stage, ByteDance is making up for its inexperience by poaching veteran staff from rivals, said the people, who asked not to be named because the plans are private. One of the gaming division’s creative teams is led by Wang Kuiwu, who joined from China’s Perfect World, a major game developer and esports tournament organizer. Yan Shou, ByteDance’s chief of strategy and investment, oversees operations, the people said. The unit runs independently from existing efforts to create casual mobile titles, they said.Read more: TikTok Owner Is Testing Music App in Bid for Next Global HitByteDance is making a global push that includes hiring publishing and marketing staffers based overseas, according to job descriptions viewed by Bloomberg News. One post seeks people to work with influencers and internal platforms to promote games, while another asks candidates to be responsible for “managing indie mobile game publishing projects throughout their life cycle.” This hiring spree is also evident in postings this month for more than a dozen game-related positions on Chinese career site Lagou.com, ranging from product managers to 3-D character designers based in Beijing, Shanghai and Shenzhen.Acquiring talent also means buying up studios wholesale. Game studios acquired by ByteDance over the past year include Shanghai Mokun Digital Technology and Beijing-based Levelup.ai, as shown in public company registration information. The company also hired the core developer team from a Netease outfit called Pangu Game, after China’s second-largest gaming firm canceled the studio’s existing projects, according to people familiar with the matter.ByteDance’s game pipeline will include massively multiplayer online games with Chinese fantasy elements, said two people. Its newly acquired studios have pedigree in the genre: Pangu Game’s 2017 hit Revelation is a PC online role-playing game where warriors and sorcerers slay Chinese mythological beasts, while Shanghai Mokun has created several similar titles since its founding in 2013.The challenge of invading Tencent’s turf will nevertheless be immense. Tencent has three of the world’s most popular multiplayer mobile titles in PUBG Mobile, Call of Duty: Mobile and Honour of Kings. They are the blueprint for games that are free to play but rich on in-game purchases -- which accounts for a huge swath of mobile revenues -- that rivals like ByteDance try to emulate. More broadly, Tencent’s locked in a billion-plus users across Asia into a WeChat app that mashes elements of payments, social media, on-demand services and entertainment.Read more: China Will Drive Mobile Spending to Record $380 Billion in 2020Tencent and Netease also enjoy the advantage of having long-established relationships with Chinese regulators, who in 2018 began a campaign to root out gaming addiction that drastically constricted the number and variety of games allowed to be published in the country. Tencent saw hundreds of billions of dollars wiped off its market value as a result and is still recovering. Getting into gaming potentially exposes ByteDance to more regulatory scrutiny domestically, even as it battles U.S. lawmakers’ accusations that TikTok can be used to spy on Americans.Still, ByteDance can’t call itself a true internet giant without a substantial presence in gaming. Last year, 72% of all consumer spending on mobile came in games, according to App Annie, and the market is fiercely competitive. ByteDance’s critical advantage is that it already has a vast and engaged audience among the all-important teenage demographic: it can leverage Douyin/TikTok to channel users toward its games. That mirrors the winning approach Tencent took more than a decade ago when it exploited the reach of its social media platforms to enter gaming. ByteDance will have to prove that the strategy still works.“Gaming is a strategic vertical for tech companies in China as it is a key way to generate additional revenue from a large audience,” Ahmad said. “While they may be able to develop a number of hit titles in the China market, we believe it will still be difficult for them to truly challenge Tencent.”(Updates with analyst comment from fourth paragraph)To contact the reporter on this story: Zheping Huang in Hong Kong at email@example.comTo contact the editors responsible for this story: Peter Elstrom at firstname.lastname@example.org, Edwin Chan, Vlad SavovFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Seven years ago, the two big China tech giants introduced mobile payments for the exchange of cash gifts—so-called red envelopes. Now the pair continue to compete to increase and engage users.
"In order to achieve a shift of ‘Made in China' to ‘Designed in China', Tesla's CEO Elon Musk has proposed a very cool thing - set up a design and research center in China," the notice read, according to Reuters' translation. Tesla has been aggressively expanding in China.
(Bloomberg) -- Mobile app spending and usage hit a record in 2019 and show no signs of tapering off this year as faster cellular connections and more big-name video streaming services come online, industry tracker App Annie says.China should again prove the biggest driver of consumption on everything from video streaming to games operated by social media giant Tencent Holdings Ltd., propelling spending 23% higher to $380 billion this year, App Annie researchers said. China made up half of all consumer spending in 2019 and was among the fastest-growing markets when it came to time spent on a mobile device. The global average is now 3.7 hours per person per day, according to the researchers.Among the headline grabbers of 2019 was ByteDance Inc.’s video-sharing platforms including TikTok, which racked up 14.5 billion hours of time watched and grew its audience 200% in the fourth quarter. Nine out of every 10 minutes spent in the app have come from China, App Annie said. Google’s YouTube Music racked up even more impressive numbers, growing worldwide active users 870% over the 24 months ending Dec. 19.“Year 2020 will mark the beginning of a mobile-first decade,” said Cindy Deng, managing director for Asia-Pacific at App Annie. “It’s imperative that brands start to adapt their strategy to this growing generation, or risk being left behind.”Tinder, Netflix and Tencent Lead Record-Breaking Year for AppsIn the past year, mobile apps accumulated $120 billion of global consumer spending, with games accounting for 72% of that. Advertising brought in $190 billion, said App Annie, forecasting the number to grow to $240 billion this year.Generation Z -- the cohort born after 1997 for whom mobile has become the first screen -- is fueling the surge. Income from games continued to grow in 2019, when 1,121 mobile titles brought in more than $5 million in earnings, up from 959 two years prior. 139 games went beyond $100 million in revenue for the year, up from 88 in 2017.But non-gaming apps grew even faster, led primarily by subscription-based revenue models and a rabid appetite for entertainment.In the U.S., App Annie found Apple Inc.’s iOS platform commanded 79% of non-gaming app revenue versus Google’s Android claiming 21%, with the majority on both platforms coming from subscriptions to the likes of Tinder and Netflix Inc.The use of mobile finance apps doubled between 2017 and 2019, with users accessing such services 1.1 trillion times in the past year. This has been driven by mobile-first countries like China, India and Brazil, while Indonesia, Japan and Russia are growing fastest when it comes to monthly active users. App Annie analysts said fintech apps designed specifically for mobile screens, such as Monzo or PayPay, were outperforming traditional banks because of their greater ease of use.Entertainment apps also saw a 120% rise in use over the past two years, and in 2019 Netflix was joined by Apple TV+ and Walt Disney Co.’s Disney+ subscription streaming offerings. The competition will intensify as more mobile-centric services emerge: former HP Inc. Chief Executive Officer Meg Whitman and film veteran Jeffrey Katzenberg’s Quibi, for instance, offers different video perspectives depending on how a phone is held.Streaming content looks likely to be the big driver for the adoption of 5G networking among mobile users, as App Annie found it growing universally around the globe. On Android phones over the past two years, India streamed nearly 80% more, France and Japan were up more than 50% and the U.S., Canada, and Indonesia all grew by more than 40%. Data consumption on streaming sports was up 80% over the same period, indicating a bandwidth-hungry market that’s far from hitting its consumption ceiling.To contact the reporter on this story: Vlad Savov in Tokyo at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Vlad SavovFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Vipshop Holdings (VIPS) stock has soared 140% in the last year to crush Alibaba as the online discount retailer expands its customer base...
The esports series plans to announce this week that it will feature games on its current webcast outlets - its own website, Alphabet Inc.'s (NASDAQ: GOOGL) YouTube, and Amazon.com, Inc.'s (NASDAQ: AMZN) Twitch. The League of Legends Championship Series is the top level of professional play in the United States of the League of Legends video game from Tencent Holding/ADR (OTC: TCEHY)'s Riot Games, which runs the league.
(Bloomberg) -- With tech earnings looming this month, investor attention is zeroing in on some of Asia’s largest chipmakers. And there’s reason for it: the sector’s influence on the region’s stocks has kept on growing.Taiwan Semiconductor Manufacturing Co. is set to report fourth-quarter results Thursday, potentially hitting record revenue of more than $10.2 billion and its highest quarterly gross margins since 2018, Bloomberg Intelligence analyst Charles Shum said in a Jan. 7 preview. TSMC shares are up more than 4% this month and touched an intraday high Tuesday.“Many of TSMC’s customers such as Huawei, Qualcomm and Mediatek are quickening their pace of adopting cutting-edge processes to prepare for the launch of 5G mobile devices,” Shum said in the report.Rival Samsung Electronics Co. releases its final results Jan. 30. Preliminary figures announced earlier this month showed quarterly earnings beat estimates as global chip prices have shown signs of escaping a protracted slump.The two chipmaking behemoths are the No. 3 and 4 largest stocks in the MSCI Asia Pacific Index and also key contributors to the growing influence of technology names in the gauge. The industry now accounts for almost 15% of the regional gauge, up from 12% at the start of 2019. Internet giants Alibaba Group Holding Ltd. and Tencent Holdings Ltd. have the highest weightings in the index.Managers of emerging-market stocks have increased their exposure to semiconductor shares to a record 7.3%, making of it the largest overweight by sector, according to Steven Holden, an analyst at Smartkarma Holdings Pte. Taiwan and South Korean equity overweights also hit a peak, with TSMC among the most favorite companies, it said.Despite all the positives, one potential question mark for TSMC remains Huawei Technologies Co. Tighter export restrictions on the Chinese company by the U.S. would make some of TSMC’s technologies unshippable to Huawei, analysts led by Mark Li at Sanford C. Bernstein wrote in a Jan. 8 note. While the actual impact on revenue is expected to be in the low single digits and TSMC will be able to pivot to other customers, a short-term impact is “inevitable as share shifts and supply-chain realignment take time.”But overall, the outlook for the semiconductor industry is positive on growth drivers including new 5G technology adoption, internet of things momentum, robust data center demand and even new game console launches, Credit Suisse analysts Randy Abrams and Haas Liu said in a Jan. 13 report.“Stocks are recovering from the prior decade’s de-rating and returning to pre-crisis valuations that can sustain,” the analysts said. The main risk? With higher valuations after a strong 2019 rally, any disappointment from product cycle ramps or macro shocks could lead to potential short-term pullbacks, they added.Stock-Market SummaryMSCI Asia Pacific Index up 0.2%Japan's Topix index up 0.3%; Nikkei 225 up 0.7%Hong Kong's Hang Seng Index down 0.3%; Hang Seng China Enterprises down 0.4%; Shanghai Composite down 0.1%; CSI 300 down 0.2%Taiwan's Taiex index up 0.5%South Korea's Kospi index up 0.3%; Kospi 200 up 0.4%Australia's S&P/ASX 200 up 0.8%; New Zealand’s S&P/NZX 50 up 0.7%India's S&P BSE Sensex Index little changed; NSE Nifty 50 little changedSingapore's Straits Times Index up 0.5%; Malaysia’s KLCI down 0.7%; Philippine Stock Exchange Index down 0.5%; Jakarta Composite up 0.2%; Thailand's SET little changed; Vietnam's VN Index up 0.2%S&P 500 e-mini futures little changed after index closed up 0.7% in last session(Adds Smartkarma comments in sixth paragraph, stock-summary section)\--With assistance from Cormac Mullen, Abhishek Vishnoi and Moxy Ying.To contact the reporter on this story: Eric Lam in Hong Kong at email@example.comTo contact the editors responsible for this story: Christopher Anstey at firstname.lastname@example.org, Lianting Tu, Cecile VannucciFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Hello and welcome back to TechCrunch’s China Roundup, a digest of recent events shaping the Chinese tech landscape and what they mean to people in the rest of the world. The event is meant to give clues to WeChat's future and the rare occasion where its secretive founder Allen Zhang emerges in public view. The boss's absence was not outright unexpected, an industry analyst told me, as WeChat shifts to focus more on monetization.