China Blocks Monster Hunter

19 August, 2018, 13:48 | Author: Julian Harrison
  • A weaker yuan makes Chinese exports cheaper cushioning the impact of the tariffs imposed by US President Donald Trump

The report also highlighted the steady number of daily active users for its mobile games despite a drop in monetization, citing how Arena of Valor has more than 13 million DAUs and generated over $30 million per month outside China for the first half of the financial year.

The company's second quarter net profit fell 2 percent from the same period a year earlier to $2.7 billion. The critics believed that the game is quite addictive, and hence, the company had to add in-game spending limits for underage account holders. "This is something which is a little bit out of (our) control".

The decision has battered shares of market leaders like Tencent, which have plunged since the company was ordered to remove hit game "Monster Hunter: World" from sale only days after its debut. Mobile gaming revenue dropped 19 per cent from the first quarter.

"The results were really bad", said Benjamin Wu, a Shanghai-based analyst with consultancy Pacific Epoch.

Even if the regulators resume approvals immediately, the typical process takes about two to three months, signaling potential weakness in the third quarter for companies like Tencent. Bank of America Merrill Lynch analysts downgraded their ratings on the company's bonds and said they have higher regulatory risk than rival Alibaba Group Holding Ltd.

Of that, the revenue from PC games was CNY31.5 billion, a first-time decline, while mobile game income rose 13 percent from a year earlier, but this was a big drop from last year's increase of almost 50 percent.

Longer-term, Tencent still commands a powerful asset in WeChat, the ubiquitous messaging service that underpins its gaming and ads business. Advertising revenue jumped 39 per cent, while video subscription numbers doubled.

Still, it's rare for company officials to publicly suggest Beijing is to blame for anything, which is why it stood out that Tencent called out government actions for its profit weakness, said Asia Society senior fellow Isaac Stone Fish. It has resulted in new game licenses being frozen until the restructuring is complete. Although gaming revenue made up 40 percent of the revenue, it is also the business line that is causing the financial woes.

Tencent's core business, communications, is likewise hitting growth ceilings. "The deeper implication is that games will be slowing down and they need to find new areas of growth".

Revenue rose 30 percent to 73.68 billion yuan (8.4 billion pounds), lagging 16 analysts' average estimate of 77.5 billion yuan (8.8 billion pounds).

Procedures for games approvals in China were already complicated enough with watchdogs for media publication, cyberspace and copyright as well as ministries for culture and information technology all being part of the process.



The UEFA super Cup. "Real" - "Atletico". The announcement of the match
Ramos has now scored five goals against Atletico Madrid - only against Sevilla (six) has he scored more for Real Madrid .

Not all priests are sex predators - CBPC's Secillano
James Martin, an editor at large of the Jesuit magazine America, said he believes that it is "good, healthy and clarifying". The association's stance earlier was detailed in a March 29 letter and eight-page document addressed to Cardinal Joseph W.

'No chance' Willian would have stayed at Chelsea under Conte
That's why he [Sarri] talked about "fun" football [after arriving at Chelsea]. We have a lot of players with quality up front, like Eden Hazard and Pedro.

Trump opts to revoke former Central Intelligence Agency director Brennan's security clearance
Clapper served Obama as director of national intelligence and has held key positions in the USA intelligence community. Sarah Huckabee Sanders , Mr Trump's press secretary, insisted the White House was not targeting only Trump critics.

Murray falls to Pouille in Cincinnati first round
Federer's ousted the 47th-ranked German in 72 minutes and marked his first step towards a possible eighth title at the tournament. Earlier in the day, three-time grand slam champion Murray was upstaged by French 16th seed Lucas Pouille in three sets.

Big US retailers stick by Roundup after cancer verdict
What's even shocking is that more than 200 million pounds of glyphosate are sprayed on crops in the United States each year. According to an Environmental Protection Agency, glyphosate "is not likely to be carcinogenic to humans".

Qatar Gives Turkey Financial Lifeline; No End in Sight for Diplomatic Crisis
Ankara, which in 2015 set up a military base in Qatar , sent in troops amid the "Gulf Crisis" in June 2017. It is believed many Qatari investors could be at risk from a Turkish economic crisis.

Four-member Pakistan delegation attends last rites of Atal Bihari Vajpayee
Vajpayee, 93, died at the All India Institute of Medical Sciences (AIIMS) here last evening after a prolonged illness. Media reports say that the last rites will be performed at the Smriti Sthal on the banks of the Yamuna in Delhi.

Turkish lira steady despite new threats from Trump
The banks were capable of managing the volatility, and there had been no major flow of cash out of deposits lately, he added. The spokesman also confirmed that Scholz had invited Albayrak for talks to Berlin in the second half of September.

Emery ends Arsenal goalkeeper debate with Cech assurance
Unai Emery has confirmed goalkeeper Petr Cech will keep his place in goal for Arsenal when they head to Chelsea in the Premier League on Saturday.