Latest news with #TencentHoldings
Bloomberg
13-06-2025
- Business
- Bloomberg
Nexon Shares Jump 10% as Tencent Said to Study Acquisition
The shares of Nexon Co. surged 10% after Bloomberg reported Tencent Holdings Ltd. is studying a potential deal for the gaming company to bolster its presence in that segment. Tencent has reached out to the family of Nexon's late founder Kim Jung-ju, who hold their stake through family investment firm NXC Corp., to discuss the possibility of an acquisition, people with knowledge of the matter said.
Bloomberg
11-06-2025
- Business
- Bloomberg
Prosus Says Earnings Likely Doubled on E-Commerce, Tencent
Prosus NV said its earnings per share likely nearly doubled in the last fiscal year after growth at its e-commerce businesses accelerated and the value of its holding in Chinese internet company Tencent Holdings Ltd. surged. Headline earnings per share from continued operations are set to grow 91% to 100% in the 12 months that ended in March compared to a year earlier, the company said in a statement on Wednesday.
Nikkei Asia
27-05-2025
- Business
- Nikkei Asia
China developer Wanda eyes sale of 48 shopping malls in $6.9bn deal
DALIAN, China -- Major Chinese commercial property developer Dalian Wanda Group plans to sell 48 of its shopping malls to a joint venture led by Hong Kong investment firm PAG, continuing to shed assets to raise cash amid a slumping real estate market. The joint venture of five companies, including a PAG subsidiary and China's Tencent Holdings, will acquire shares in 48 regional companies that back Wanda Plaza malls across China. The plans were revealed in a disclosure document dated May 20 from the State Administration for Market Regulation.
Time of India
21-05-2025
- Business
- Time of India
Baidu says domestic tech will shield AI push from US curbs
Live Events China's Baidu said on Wednesday U.S. export controls on semiconductors would not significantly impact its AI development, citing access to domestic dominant search engine in China also reported first-quarter revenue that exceeded analysts' expectations, boosted by growing demand for its AI cloud services "Domestically developed chips and increasingly efficient homegrown software will form a strong foundation for long-term innovation in China's AI ecosystem," Baidu Vice President Shen Dou told analysts on a conference comments come as U.S. export restrictions on advanced semiconductors took effect last month, effectively blocking sales of Nvidia's H20 chips designed for the Chinese stance echoes comments from rival Tencent Holdings, whose executives said existing stockpiles of AI chips would shield the company from U.S. export revenue in the first quarter rose 3% to 32.45 billion yuan ($4.50 billion), beating analysts' average estimate of 30.9 billion yuan, according to data compiled by at Baidu's online marketing business, which contributes the majority to the company, fell 6% to 17.31 billion yuan. Analysts had estimated 17.39 billion its non-online marketing revenue reached 9.4 billion yuan, up 40% year-over-year, mainly driven by its AI cloud company reported profit of 21.59 yuan per American Depositary Share, compared with profit of 14.91 yuan per share a year has intensified its focus on AI in recent years to reduce its dependence on advertising revenue from its core search engine early 2023, the company was among the first to launch a chatbot following Microsoft-backed OpenAI's release of ChatGPT in late this early advantage, Baidu's Ernie large-language model faces fierce competition from Chinese firms such as startup DeepSeek, which shook up the AI landscape earlier this response, Baidu eliminated fees for its premium chatbot services in April and introduced two new AI models in March - the reasoning-focused Ernie X1 and Ernie 4.5. The company upgraded these offerings to "Turbo" versions the following CEO Robin Li said last month that its cluster comprising 30,000 of its self-developed, third-generation P800 Kunlun chips can support the training of DeepSeek-like company's U.S.-listed shares were down 0.3% in morning trading.($1 = 7.2067 Chinese yuan renminbi)
Business Recorder
21-05-2025
- Business
- Business Recorder
Baidu says domestic tech will shield AI push from US curbs
China's Baidu said on Wednesday U.S. export controls on semiconductors would not significantly impact its AI development, citing access to domestic alternatives. The dominant search engine in China also reported first-quarter revenue that exceeded analysts' expectations, boosted by growing demand for its AI cloud services. 'Domestically developed chips and increasingly efficient homegrown software will form a strong foundation for long-term innovation in China's AI ecosystem,' Baidu Vice President Shen Dou told analysts on a conference call. The comments come as U.S. export restrictions on advanced semiconductors took effect last month, effectively blocking sales of Nvidia's H20 chips designed for the Chinese market. The stance echoes comments from rival Tencent Holdings, whose executives said existing stockpiles of AI chips would shield the company from U.S. export controls. Total revenue in the first quarter rose 3% to 32.45 billion yuan ($4.50 billion), beating analysts' average estimate of 30.9 billion yuan, according to data compiled by LSEG. China's Baidu looks to patent AI system to decipher animal sounds Revenue at Baidu's online marketing business, which contributes the majority to the company, fell 6% to 17.31 billion yuan. Analysts had estimated 17.39 billion yuan. However its non-online marketing revenue reached 9.4 billion yuan, up 40% year-over-year, mainly driven by its AI cloud business. The company reported profit of 21.59 yuan per American Depositary Share, compared with profit of 14.91 yuan per share a year earlier. Baidu has intensified its focus on AI in recent years to reduce its dependence on advertising revenue from its core search engine business. In early 2023, the company was among the first to launch a chatbot following Microsoft-backed OpenAI's release of ChatGPT in late 2022. Despite this early advantage, Baidu's Ernie large-language model faces fierce competition from Chinese firms such as startup DeepSeek, which shook up the AI landscape earlier this year. In response, Baidu eliminated fees for its premium chatbot services in April and introduced two new AI models in March - the reasoning-focused Ernie X1 and Ernie 4.5. The company upgraded these offerings to 'Turbo' versions the following month. Baidu's CEO Robin Li said last month that its cluster comprising 30,000 of its self-developed, third-generation P800 Kunlun chips can support the training of DeepSeek-like models. The company's U.S.-listed shares were down 0.3% in morning trading.
