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Tencent profits plunge as Chinese tech giant grapples with Covid lockdowns, regulation
https://www.cnbc.com/2022/05/19/tencent-...weigh.html
Almost every reason behind their revenue/profit decline can be traced back to regulation of sorts (decline in gaming license, COVID regulation etc.)
So, I guess the CCP's strategy of neutralizing potential threats is working? On the bright side, at least there are "supportive signals" from the CCP, as the article noted. I personally will not hold my breath for them, until regulatory actions proved otherwise.
(personal speculation of their intentions; not vested)
https://www.cnbc.com/2022/05/19/tencent-...weigh.html
Almost every reason behind their revenue/profit decline can be traced back to regulation of sorts (decline in gaming license, COVID regulation etc.)
So, I guess the CCP's strategy of neutralizing potential threats is working? On the bright side, at least there are "supportive signals" from the CCP, as the article noted. I personally will not hold my breath for them, until regulatory actions proved otherwise.
(personal speculation of their intentions; not vested)
“If you buy a business just because it’s undervalued, then you have to worry about selling it when it reaches its intrinsic value. That’s hard. But if you can buy a few great companies, then you can sit on your ass. That’s a good thing.” - Charlie Munger