The increased control by the authorities and the consequences of the pandemic have seriously affected Chinese tech giants, including Tencent. According to a number of media reports, large-scale cuts have begun in the company.

The Chinese giant Tencent continues to set anti-records. In a recent financial report, the company reported that it earned $20.1 billion in the quarter — the same as a year ago. For reference: since 2004, when Tencent went public, its revenue has been constantly growing.

According to SCMP, concerns arose at the end of April. Then the users of the racing game QQ Speed noticed that some of their data disappeared after the update was released. At the same time, it became known that the support of this and several other titles is now being handled not by Tencent itself, but by its newly created “daughter” Shenzhen Tencent Tianyou Technology Limited.

Yesterday, Tencent announced that it will no longer support unlicensed foreign games. Starting from May 31, the company will change the operation of the services through which players gained access to them.

1C Entertainment, registered in Poland, which owns the rights to the King’s Bounty and Space Rangers series, announced that it has become part of the Chinese corporation Tencent (Updated: “Caliber” is not included in the deal).

Last week, Tencent invested in another gaming company. She acquired a minority stake in the Polish THE PARASIGHT. It is not known how much the purchase cost.

Tencent will once again be able to update a number of its applications in China. The company managed to reach an agreement with the authorities three weeks after the ban was issued. However, it is unclear whether the restriction on the release of new mobile products will remain valid.The decision was made by the Ministry of Industry and Information Technology (MIIT), the South China Morning Post reports.

Another game studio from Russia received investment from Tencent. The deal with the Chinese giant was announced by GFA Games, which is working on the PIONER shooter. The amount and terms of the agreement were not disclosed.

PUBG Mobile continues to hold the title of the highest-grossing mobile battle royale. Sensor Tower analysts estimate that the game has earned over $7 billion in three and a half years since its release.

The industrial giant Tencent is facing problems at home. For an indefinite period, he was banned from publishing new applications in China and updating old ones. The reason for this was “violation of the interests and rights of users.”

Chinese giant Tencent has signed another deal. This time, the company acquired a minority stake in the British Playtonic, the authors of the platformer Yooka-Laylee. How much this purchase cost is not disclosed.

In the near future, the Chinese regulator will again issue licenses to online games. He hasn’t done it in four months. Against the background of such news, the shares of local giants Tencent and NetEase increased in price.

The Chinese giant Tencent decided to support developers from Russia. The holding invested in Beryoski, a new studio that was opened by the authors of the tactical RTS “Partisans 1941”. The size and terms of the transaction were not disclosed.

Tencent has invested in another company. Now she has acquired 90% of the shares of the Japanese Wake Up Interactive, which owns the studio Soleil. The latter specializes in games for the Nintendo Switch. The transaction amount is ¥5 billion ($43.8 million).

The actions of the Chinese authorities have affected the financial performance of Tencent. The growth rate as revenue reached its lowest in 17 years. In the third quarter of 2021, the company earned $22.2 billion, and its revenue from games amounted to $8.4 billion.

Tencent and TiMi Studios have announced a game based on the popular mobile MOBA Honor of Kings. It’s called Honor of Kings: World. It will be an open-world RPG that will be released “on multiple platforms.”

Fortnite is leaving China. The servers of the regional version of the battle royale will stop working in two weeks. Perhaps the closure is due to the lack of popularity of the game and changes in Chinese legislation.

Tencent continues to act aggressively in the M&A market. This time, the company acquired a stake in the Japanese publishing house Kadokawa, which owns the FromSoftware studio. The transaction amount was ¥30 billion ($264 million).Elden Ring

TiMi Studios, the “daughter” of Tencent, announced the launch of F1, a branch for the development of AAA games with an open world. There is a version that the opening of a new studio is one of Tencent’s steps towards the development of the global metaverse. TiMi refutes these rumors.