Original link: https://www.latepost.com/news/dj_detail?id=1169
Tencent and NetEase have zero edition numbers this year, increasing investment in overseas markets
At a time when Tencent and NetEase are raking in tens of billions of profits every quarter through mobile games, domestic mobile games have unknowingly become a hard-to-find market.
According to the “2021 China Game Industry Report” issued by the Game Work Committee, the actual sales revenue of China’s game market last year was 296.5 billion yuan, and the growth rate slowed to 6.4%. The number of users was about 666 million, and the growth rate fell to 0.22%. The latest report from Gamma Data shows that in April this year, domestic mobile game sales revenue fell by 5.29% year-on-year.
In April, the State Press and Publication Administration issued the game version number again after eight months, and 45 games were allowed to operate for a fee. The products of game companies such as Lilith, Youzu, and Xinxin Network are on the list, but the products of large and medium-sized Internet companies such as Tencent, NetEase, Bilibili, and ByteDance are not included.
In June, due to the temporary interruption of epidemic prevention and control, the distribution of game version numbers resumed, and 60 games were listed, but there were still no works from major companies. Mihayou’s “Korcher Frontline” and Perfect World’s “Black Cat Anecdote” are on the list.
The industry consensus is that new games will significantly increase company and market revenue streams. The most recent example is that although domestic mobile game revenue declined year-on-year in April, it rebounded and achieved growth month-on-month. Gamma data said in the report that one of the contributing factors was the new games “Eye of the Deep Space” and “Dragon Land Story” that month. The product brings an increase in the flow of water.
Market participants believe that stable version number issuance is an important guarantee for the continued growth of the domestic game industry.
However, under the background of the slowdown in the growth rate of the domestic game market, the relative shrinkage of the total number of version numbers, and the protection measures for minors online, it has almost become an industry consensus to introduce products into overseas markets. This was also at the ChinaJoy event last summer. It has been affirmed by the heads of relevant ministries and commissions.
During the period of the release of the version number, a number of head game companies told “Waidian Finance” that they had already made a plan not to issue a version number for a whole year, and one of them was to increase investment in overseas markets.
The last time Tencent got the game version number was “High-Power Heroes” in May 2021. In September last year, Tencent upgraded the overseas version of “Honor of Kings” Arena of Valor to a strategic-level project, doubling the budget accordingly. According to a previous report by LatePost , Tencent has set a goal of generating half of its game revenue from overseas markets in 2020.
Last year, Tencent’s overseas version of “Peace Elite”, “PUBG Mobile”, earned an average of $8.1 million per day, ranking first in the global shooting mobile game revenue list. Tencent and Activision Blizzard’s profit-sharing “Call of Duty Mobile” was the third-highest-grossing mobile shooter last year.
The last time NetEase got the game version number was “Egg Party” in July 2021. At present, their game overseas performance is generally stable. According to the data of AppAnnie, an industry organization, NetEase’s overseas market ranking in the first quarter of this year was basically stable at sixth in the industry. In April, mobile games such as “Heavenly Mandate”, “Lord of the Rings”, and “Dead by Daylight” were launched in Japan. The “Diablo Immortal” jointly developed by them and Blizzard also launched overseas mobile and PC versions this month.
A relatively loose market means more competition, and slowing industry growth is not unique to China. Tencent management said in a quarterly earnings conference call that the overseas mobile game market has generally experienced slow growth or even decline since the beginning of the year. to have a positive impact. (Gong Fangyi)
Tiger Global loses a big game, from a loss from the first level to the second level
- Last week, Tiger Global told investors that as of May, its hedge fund’s decline during the year had expanded to 52%; another long-term fund also fell 61.7%, with a total loss of about $18.75 billion; according to LCH Investments estimates, it has been wiped Go to its stock fund since its inception more than 2/3 of the income.
- Before this slump, Tiger Global had nearly $100 billion in assets under management. By the end of last year, equity funds invested in public markets were worth at least $34 billion, and venture capital funds invested in start-ups were worth $64 billion; Note that the technology industry has suffered losses recently.
- The stock fund’s steep losses were even more dramatic, which management blamed on the wrong timing, saying more shares should be sold in 2021. When the new crown epidemic was about to start, Tiger Global keenly replaced financial and energy stocks with popular technology stocks such as Zoom, which made a lot of profits; with the reversal of market logic, the floating profit that could not be realized in time shrank, and the market trend was exhausted. The bottom-hunting result was halfway up the mountain.
- The venture capital business is not going well either. Compared with traditional VCs, Tiger has quick decision-making, generous valuation, and non-intervention in management. It is said that it outsources most of the backtracking, or even does not do backtracking, which is somewhat of the shadow of SoftBank’s Masayoshi Son. According to media reports, an entertainment software company found a tiger partner, arranged a roadshow the next day, and received $100 million in financing terms on the same day. The valuation has increased by more than five times compared with the last round of financing seven months ago.
- This strategy works well during an upswing in the industry. As of February this year, Tiger Fund had invested in and exited unicorns (valued at more than $1 billion) with 191 and 52, respectively, surpassing the 84 and 41 of traditional VC Sequoia Capital. The venture capital business is said to have returned more than $28 billion in profits to investors since its inception, and previously averaged annual returns of more than 20 percent.
- And at a time when the industry is slowing or even contracting, aggressive moves come with huge losses. According to media reports, people familiar with Tiger’s business said Tiger’s write-downs on investments in startups were smaller; in part because its value often depends on the price of its last financing round, which lags behind the public stock market. In the future, tigers may write down even more significantly.
- Taking ByteDance as an example, Tiger invested US$2.3 billion in the early stage, and its value rose to US$6.4 billion at the beginning of the year, but has recently written down more than US$2 billion. Based on this calculation, the valuation of ByteDance has dropped from the peak of 400 billion US dollars to less than 300 billion US dollars. (Lin Guangying)
Apple wants to take over core car data
- Apple launched CarPlay at WWDC in 2013. Over the years, the core function has been to put music, navigation and other content on the iPhone to the car radio and screen. Nearly a decade later, CarPlay finally does more:
- It can be adapted to different shapes of screens, and can also control multiple functions of the cockpit – adjust the air conditioner, heat the seats, monitor the fuel level/electricity, speed/mileage dashboard, etc.
- In this way, CarPlay no longer only provides entertainment information services, but can obtain more and more critical working condition data of the vehicle, so that each car equipped with CarPlay can be controlled more deeply.
- Apple won’t confirm which cars can access the new version of CarPlay until next year.
In addition to CarPlay, which can do more things, this WWDC has these new news:
- A new generation of chips was announced, along with the release of two laptops. After the M1 chip was announced for two years and used in a variety of laptops and even tablets, Apple announced the M2 chip. Compared with the M1, the overall performance is not optimized, and the focus is on graphics processing functions. At the same time, Apple released two notebooks equipped with M2 chips, Macbook Air and Macbook Pro. The starting price is less than 10,000 yuan, but the release time is expected to be late. The Shanghai epidemic has affected Apple’s OEM notebook products factories.
- iPhone, iPad, Mac and other devices operating system updates have not changed much. The most intuitive change in iOS 16 is on the lock screen, where users can customize the lock screen screen/color and the widgets placed on it, similar to Apple Watch. iPadOS has improved the multitasking function and moved closer to the Mac; after the MacOS system is updated, the camera on the iPhone can be called directly; the watchOS update adds more dials, supported applications, etc., and has a reminder to take medicine; tvOS did not mention it.
- The AR device/operating system that the market is very concerned about is not discussed. In the past year or so, there has been constant news about the progress of Apple’s AR glasses, such as entering the second round of prenatal testing, and showing a prototype to Apple’s board of directors. Apple analyst Ming-Chi Kuo previously said that Apple still has a long cycle (at least a year) from actually releasing AR glasses. If the information is released, other companies will copy it and launch it quickly. Some media outlets reported two days ago that Apple was experiencing battery issues and would delay the launch. (He Qianming)
Kuaigou Taxi has passed the Hong Kong Stock Exchange hearing for the second time, and the fundraising amount has shrunk by nearly 70%
- According to the announcement of the Hong Kong Stock Exchange today, the intra-city logistics platform Kuaigou Dache has passed the listing hearing and is scheduled to be priced on the 16th of this month and listed on the 23rd of this month. It is expected to raise 100-150 million US dollars, 70% less than the original plan, which will be used to expand the service network and expand enterprise customers in an asset-light model.
- This is the second time that Kuaigou Taxi has passed the listing hearing. It first submitted its listing application in August last year and passed the hearing in February this year. It was originally planned to be listed in early March, but the process was postponed. And updated the prospectus in April.
- According to the latest prospectus, Kuaigou Dache’s main revenue sources are corporate services (planning and on-demand logistics) and platform services (matching drivers and shippers). The former accounted for 56% of total revenue last year, while the latter accounted for 39%; in addition, it also provides value-added services. Services such as vehicle maintenance and repairs.
- From 2018 to 2021, the company’s revenue was 450 million yuan, 550 million yuan, 530 million yuan, and 660 million yuan, respectively, and the net losses were 1.07 billion yuan, 180 million yuan, 660 million yuan, and 870 million yuan. It is expected to be in deficit until 2024; The reason is that intra-city logistics requires a lot of investment in the early stage to drive growth.
- In 2021, Kuaigou Dache will have a market share of 3.2% in the intra-city freight market in mainland China, ranking third; the top two are Huolala (52.8%) and Didi Freight (5.5%). Major shareholders include 58 Daojia, Ali and Taobao, holding 50.51%, 15.77% and 12.92% of the shares respectively. (Lin Guangying)
Electric car sales reduce oil consumption? Yes, but now mainly on two- and three-wheeled trams
- Institutional statistics show that in 2021, the global road transportation will consume an average of 43.7 million barrels of oil per day (about 6.95 billion liters); due to the application of electric vehicles, the average daily oil consumption will be reduced by nearly 1.5 million barrels, equivalent to 3.3% of the total.
- 67% of the reduction is due to two- and three-wheeled electric vehicles, because they were electrified earlier and rapidly popularized in Southeast Asian countries; there are currently more than 260 million units in the world, saving an average of nearly 1 million barrels of oil per day. This is followed by public transport vehicles, passenger cars, and commercial vehicles, which contribute 16%, 13%, and 4% of fuel savings due to electrification, respectively.
- However, with the popularity of electrification, the fuel-saving potential of passenger cars is even greater. In the fourth quarter of 2021, the proportion of global electric passenger vehicle sales increased to 13%; the annual fuel saving more than doubled year-on-year, and was almost zero in 2015.
- According to institutional estimates, with the popularization of electric vehicles, oil consumption can be reduced by 7 million barrels per day by 2030, and by about 15 million barrels per day by 2040; however, due to the increase in total demand for road transportation, the average daily oil consumption remains at 4,000 barrels per day. million barrels or more. (Lin Guangying)
SEC plans to reform retail stock trading, or affect 70% of Robinhood’s revenue
- According to media reports, the U.S. Securities and Exchange Commission (SEC) plans to reform the stock market, and the biggest change is the way investors place stock orders with brokers.
- For example, under the current model, when a retail investor places an order on the Robinhood (broker) quotation, Robinhood will not directly forward it to the exchange for execution, but will package it and distribute it to high-frequency traders; Earn the difference. For example, the buying price submitted by retail investors is 3 yuan, and the trader buys at 2.98 yuan, earning 0.02 yuan difference; Robinhood can earn commissions.
- The SEC’s new plan may be to require brokers to post orders to a unified auction platform, where major dealers bid for transactions, with the goal of making the market transparent and investors buying and selling at better prices. If realized, it will completely change the revenue model from broker to dealer; in the case of Robinhood, such trading commissions account for about 70% of its total revenue.
- The SEC first revealed the idea last year, and agencies lobbied. Some argue that the existing model is more conducive to reducing transaction costs broadly. One senator took the industry narrative and introduced legislation late last year to bar the SEC from enforcing the changes, arguing that existing zero-commissions and mobile apps attract people to the stock market, which relies heavily on the existing model (which brings invisibility). income). (Lin Guangying)
CHART OF THE DAY
- On June 6 (Monday), Shanghai subway passenger flow was 5.715 million, 1.9 times that of the previous working day. It has recovered to the level of 50% in the same period last year.
- Passenger traffic on the Beijing subway is also recovering. Since June, the passenger flow on weekdays has recovered to 2.5 million; the passenger flow during the Dragon Boat Festival holiday has recovered to 22% of the same period last year. The average daily passenger flow in late May was 1.19 million, less than 15% of the same period last year. (Gong Fangyi)
Click to see larger picture
OTHER NEWS
Luo Yonghao quit to make friends management.
According to The Paper, Luo Yonghao said in an internal speech on June 7 that he would quit the management of making friends, but he would still participate in the live broadcast as an anchor. After retiring from management, Luo Yonghao will devote more energy to entrepreneurship in the AR field. It is not known how much Luo Yonghao’s salary is as an anchor. Earlier media reports said that making a friend will pay Luo Yonghao about 100 million yuan in breakup fees.
Nine months after its establishment, CBEX changed its chairman and legal representative.
According to the business information of the enterprise, Zhou Guihua succeeded Xu Ming as the legal representative and chairman of the board of directors of the Beijing Stock Exchange, and Xu Ming retired when he was old. Zhou Guihua was previously the director of the Public Company Department of the China Securities Regulatory Commission. On September 3 last year, the Beijing Stock Exchange was established. Trading opens on November 15th.
China will clear up projects with questionable effectiveness and high risk in medical and aesthetic institutions.
Nine ministries and commissions including the National Health Commission and the Ministry of Industry and Information Technology jointly issued the “Notice on Printing and Distributing the Key Points of Correcting Unhealthy Practices in the Field of Pharmaceutical Purchases and Sales and Medical Services in 2022”. Among them, it is mentioned that the rectification of Internet medical services will be strengthened, and the diagnosis and treatment services of doubtful effectiveness and high risk in various medical beauty institutions will be cleaned up, such as “calf nerve amputation and stovepipe surgery”. At the same time, it will also regulate the charges for dental medical services and consumables, and regulate the dentists in public hospitals who practice in multiple locations.
Zhejiang will issue a special lottery for Common Wealth.
The Zhejiang Provincial Department of Civil Affairs issued the “Notice on 20 Measures to Serve, Guarantee, Stabilize the Economy and Support the Bottom Line of People’s Livelihood”. It mentioned that a special lottery ticket for mutual wealth will be issued, and the lottery will be listed and sold within the year. The public welfare fund from selling lottery tickets will be used to help poor people improve their basic living conditions, and give priority to supporting the development of welfare undertakings in old revolutionary base areas and mountainous areas.
Momo’s parent company’s video service revenue fell by nearly 20% year-on-year in the first quarter.
Zhiwen Group’s revenue in the first quarter decreased by 9.3% year-on-year to $497 million, which was better than analysts’ expectations; net profit attributable to the parent decreased by nearly 40% year-on-year to $45.7 million. In the first quarter, the company’s live broadcast service revenue decreased by 18% year-on-year to US$254 million. After deduplication of live broadcast services and value-added services, there were approximately 11.1 million (including 2.4 million Tantan paid users), a year-on-year decrease of 68.6%.
The passenger throughput of Baiyun Airport in May fell by more than 80% year-on-year.
Baiyun Airport announced on the 7th that the passenger throughput in May was 741,800, a year-on-year decrease of 84.6%, but higher than the throughput of 690,000 in the previous month. This is mainly due to the repeated epidemics this year.
Beijing Universal Studios theme park will open on the 15th, but the flow will be limited.
Universal Beijing Resort plans to resume operations on the 15th of this month. Among them, Universal City Avenue, Universal Studios Hotel, and NUO Resort Hotel will resume operations on the 14th, and the Universal Studios theme park will open on the 15th. However, the current will be limited by 75% every day, and a nucleic acid test certificate within 72 hours is required to enter the park.
G7 IoT, a freight company invested by Tencent, merged with Yiliu Technology, invested by Alibaba.
Chinese road freight IoT company G7 IoT announced today that it has agreed to merge with smaller rival Yiliu Technology (E6), according to media reports. G7 mainly provides software subscription, transportation capacity, energy, insurance, equipment and other services. E6 has cold chain storage, transportation and other services. After the merger, the G7 and E6 brands will continue to operate independently, although under the G7 name. After the merger, Tencent and Alibaba will each hold about 7%-10% of the shares.
McDonald’s is also conducting a civil rights audit.
According to media reports, McDonald’s is hiring a third-party agency to conduct the company’s civil rights audit after approving a shareholder resolution to conduct an independent civil rights audit of the company. Civil rights audits, also known as racial equity audits, are independent examinations of whether a company has long been racially discriminated against. In the audit, McDonald’s must provide information and data about its franchises to measure whether their practices contribute to social and racial inequality. In addition to McDonald’s, Amazon and Apple pledged to conduct civil rights audits in April due to pressure from civil rights advocates.
Shares rose after Amazon split its stock.
Amazon began splitting its stock into 20 shares on the 6th, with a price of about $122 per share after the split. A stock split won’t materially alter a company’s financials or performance, but the stock will be cheaper after the split, while also allowing a wider range of investors to invest in and trade the stock to boost the stock price. As of the 7th, Amazon’s stock price has risen 1.99% to $124.79. Shares of Amazon have fallen 24% this year.
The Meta AI Research Center is no longer independent and is incorporated into the product group.
Meta has announced the integration of FAIR, an artificial intelligence lab led by Yann Lecun, into Reality Labs, the company’s VR product development division. Meta said that the AI department in the past was not conducive to the implementation of new technologies in practical applications, and the integration of the AI department into the product group was to “make full use of the latest AI technology.” Zuckerberg has said that the Meta product and business should be more closely integrated rather than handled separately.
The farce of Musk’s acquisition of Twitter continues.
Musk said in a regulatory filing that he would reserve the right to stop buying Twitter after Twitter “resisted and obstructed” his acquisition of information about the company’s fake accounts, in violation of the acquisition agreement. Last month, Musk suspected that the proportion of Twitter’s fake users could be as high as 20%. He has repeatedly asked Twitter to disclose data and information on the proportion of fake users on the platform, but Twitter has refused to respond. In its most recent response, Twitter also only provided details about the company’s internal testing methodology, without disclosing core data.
The London Metal Exchange was sued by investors for another $15.34 million.
The London Metal Exchange (LME) has been sued by an investment management firm, Jane Street, after being sued by two US hedge funds. The reason is that the LME’s cancellation of the nickel deal in March was illegal and violated its rights. In March, the LME suspended nickel trading and canceled contracts worth about $3.9 billion as prices jumped 250 percent in two days, leaving bullish traders about $1.3 billion less.
U.S. House of Representatives Speaker Nancy Pelosi’s family bought millions of dollars worth of Apple and Microsoft options.
In a regular trading report, Pelosi disclosed that her husband bought more than $1 million in call options on Apple and Microsoft shares in May. Last month, U.S. technology stocks sold off due to changes in the macro environment and rising interest rates. Shares of Apple and Microsoft have both fallen 20% this year. In January last year, Democrats in the U.S. Congress proposed to ban members of Congress and their families from stock trading while in office, a proposal that has yet to pass.
Fitness equipment company Peloton changed its CFO as the company continued to lose money.
Current CFO Jill Woodworth is leaving after more than four years at the company and will be replaced by Liz Coddington on June 13, Peloton said. The company posted a net loss of $757 million in the first quarter, its biggest quarterly loss since going public in 2019. Not only has it slashed prices on the company’s products and sought to sell its own factories, it also had to borrow $750 million to finance its operations after an expected slowdown in growth. In February of this year, Peloton also changed its CEO and laid off 2,800 people.
Text | Gong Fangyi, He Ganming, Lin Guangying, and intern Yi Silin
Editor | Gong Fangyi
The title image comes from Ebuyer
This article is reproduced from: https://www.latepost.com/news/dj_detail?id=1169
This site is for inclusion only, and the copyright belongs to the original author.