Chinese video-sharing and gaming platform Bilibili has achieved quarterly profitability for the first time, a key milestone it has been striving for since going public in the US in 2018. The Shanghai-based company said in a statement on Thursday that it recorded an adjusted net profit of 235.9 million yuan (US$33.6 million) during the third … Read more
China’s southern tech hub Shenzhen spent a record amount on research and development (R&D) last year, rivalling Beijing’s level and vastly exceeding that of neighbouring Hong Kong to cement its position as a national research mecca. Shenzhen’s R&D expenditure jumped to 223.66 billion yuan (US$30.93 billion) in 2023, surpassing the 200-billion-yuan mark for the first … Read more
They joined about 400 other companies at the Intelligent Industry & Information Technology exhibition, as part of this year’s China International Import Expo (CIIE) event. The six-day trade show will conclude on Sunday. Taking part in the CIIE reflects how these foreign semiconductor technology vendors see the world’s second-largest economy as a vast market for … Read more
Alibaba Group Holding is scaling down its metaverse operations, according to a source familiar with the matter, making it the latest Big Tech company to pull back resources from the once-popular sector. Dozens of employees at Yuanjing, the metaverse unit of e-commerce giant Alibaba, have been laid off, as part of a restructuring that aims … Read more
China has given the nod to 128 Chinese and foreign video games for domestic release in October, a batch that includes the highly anticipated Goddess of Victory: Nikke, backed by Tencent Holdings, as excitement in the country’s gaming industry continues following the release of Black Myth: Wukong. The National Press and Publication Administration, the agency … Read more
France’s largest video gaming company has long been seen as a takeover target and has lost half of its stock-market value over the past 12 months. It has been plagued by product delays and the underperformance of some of its key titles. Ubisoft said in a statement that it would inform the market if and … Read more
Tencent Holdings and Ubisoft Entertainment’s founding Guillemot family are considering options, including a potential buyout of the French video gaming company, after it lost more than half its market value this year, according to people familiar with the matter. The Chinese internet giant and Guillemot Brothers have been speaking with advisers to help explore ways … Read more
Alibaba Cloud, the digital technology backbone of the e-commerce giant, announced the release of more than 100 of its newly launched Qwen 2.5 LLMs to the global open-source community at the opening of the three-day Apsara Conference, its annual flagship event that runs until Saturday. Alibaba owns the South China Morning Post. “Alibaba Cloud is … Read more
The NPPA has licensed a total of 850 domestic titles in the first eight months of this year, compared with 609 in the same period in 2023. A screenshot from Tencent Holdings’ action game Yirenzhixia. Photo: qq.com The large number of titles approved in August reflects the significant recovery in China’s video gaming market since … Read more
Feng’s obsession with Wukong, the Monkey King character from the 16th-century Chinese novel Journey to the West, started as early as his stint at Tencent, the world’s largest video gaming company by revenue. There he was a core member of the development team on a project called Asura, a massively multiplayer online role-playing game based … Read more
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