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TENCENT HOLDINGS LIMITED

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Tencent : China slows game approvals to enforce tough new rules - Bloomberg News

09/16/2021 | 02:33am EDT
FILE PHOTO: Man plays online game on a computer at an internet cafe in Beijing

(Reuters) - China is reviewing new games to ensure they meet stricter criteria for content and protection of children, Bloomberg News said on Thursday, citing people familiar with the matter.

The media watchdog is re-evaluating titles submitted for approval by game developers from Tencent Holdings Ltd to Netease Inc to make sure they comply with fresh curbs imposed in August, the report https://bloom.bg/3hEq8ix said.

Tencent declined to comment on the report, and Netease did not immediately respond to Reuters' request for comment.

Last month, China forbade more than three hours of video games a week for those younger than 18, a stringent rule aimed at halting a growing addiction to what it once called "spiritual opium".

Late in August, the National Press and Publications Administration (NPPA) asked developers to resubmit titles in line with the new measures, the report said.

Regulators are cracking down on increasingly popular zombie-themed games that are considered "too scary" by NPPA standards, it added.

Scrutiny was also stepped up on subjects regulators consider undesirable, such as "boys' love" themes that have recently become trendy, it said.

China has cracked down on a broad range of industries from tech to education and property as it tightens control after years of runaway growth.

(Reporting by Akriti Sharma in Bengaluru; Editing by Clarence Fernandez)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
NETEASE, INC. 2.15% 156.7 End-of-day quote.6.17%
TENCENT HOLDINGS LIMITED 2.10% 509.5 End-of-day quote.-9.66%
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Financials
Sales 2021 577 B 90 187 M 90 187 M
Net income 2021 150 B 23 404 M 23 404 M
Net cash 2021 148 B 23 188 M 23 188 M
P/E ratio 2021 33,0x
Yield 2021 0,31%
Capitalization 4 853 B 624 B 759 B
EV / Sales 2021 8,16x
EV / Sales 2022 6,73x
Nbr of Employees 94 182
Free-Float 62,4%
Chart TENCENT HOLDINGS LIMITED
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Tencent Holdings Limited Technical Analysis Chart | 700 | KYG875721634 | MarketScreener
Technical analysis trends TENCENT HOLDINGS LIMITED
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Mean consensus BUY
Number of Analysts 52
Last Close Price 509,50 CNY
Average target price 531,67 CNY
Spread / Average Target 4,35%
EPS Revisions
Managers and Directors
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
Yu Xin Ren COO & President-Interactive Entertainment Group
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