Tencent Likely Biggest Winner of China Videogame Approvals -- Market Talk

Dow Jones06-06

0616 GMT - Tencent appears to be the biggest beneficiary from the latest batch of imported videogames approved by Chinese regulators, Citi analysts Alicia Yap and Nelson Cheung say in a note. Five titles by Tencent were among those approved. This indicates that the company has solid publishing capability and game pipeline, with a busy release schedule in the upcoming summer window, they say. "We believe the more frequent and 'normalized' approval process for imported titles suggests a continued supportive regulatory environment," they add. Judging by the pace of recent approvals, the analysts think China could greenlight 105-125 imported game titles this year. Citi maintains a buy call on Tencent with a HK$515.00 target. Shares are last at HK$380.40. (sherry.qin@wsj.com)

 

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June 06, 2024 02:17 ET (06:17 GMT)

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