[ad_1]
Mon 01 Oct 2018 – 5:50
Pekin
CHINESE Internet giant Tencent Holdings announced Sunday its first restructuring in six years, at a time when it faces more and more challenges due to stricter regulation of the government.
The reshuffle comes as Tencent Holdings, which experienced a sharp decline in market value this year, faces new criticism from analysts and investors baffled by regulatory hurdles, a blurred foreign strategy and growing debt. .
The gaming and social media company is part of Chinese Internet companies whose prospects are uncertain after years of spectacular growth.
The Shenzhen-based company listed on the Hong Kong Stock Exchange, said Sunday in a statement that it wanted to consolidate three content groups into a single unit and create a new group for smart industries and in the cloud.
This evolution is seen as an improvement in cloud data services for corporate customers, competitors of Alibaba Group in China, and its content offering a wide range of services such as WeChat, music, games and other entertainment.
Tencent "will further explore the integration of social networks, content and technologies better suited to future trends, and encourage the upgrade of the consumer Internet to an industrial Internet," he added. .
The company also announced the creation of a Technology Committee to strengthen its research and development activities and promote collaboration and innovation.
Founded in 1998, Tencent has experienced uninterrupted growth since its IPO in 2004 until this year. Its shares jumped more than 88 times after its IPO and its market value peaked at US $ 578 billion in January of this year.
Last Friday, Tencent shares in Hong Kong closed at HK $ 323.20 (S $ 56.42), compared to HK $ 406 at the end of 2017. The company's biggest producer of silver is thu.
His most popular game this year is PlayerUnknown's Mobile Battlegrounds (PUBG Mobile), but Chinese authorities still have to approve in-game purchases that allow Tencent to make money.
Hit by the increased crackdown on online gambling by China, Tencent has announced a first decline in its quarterly profits in nearly 13 years. The main business of Tencent is the video game, but the company also manages the dominant social network in China, WeChat, which has more than one billion users. REUTERS
[ad_2]
Source link
