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Tencent's market value has fallen by one Xiaomi

author:Poster News

On December 22, the game sector ushered in a huge earthquake.

As of the close of trading on the 22nd, the A-share online game sector Sanqi Mutual Entertainment, Youzu Network, Giant Network, Perfect World, Gigabit, etc. fell to the limit, the Growth Enterprise Market Shengtian Network, Glacier Network, Palm Fun Technology, etc. all fell more than 10%, the Hong Kong stock online game sector NetEase fell 24.6%, Tencent Holdings fell 12.35%, Bilibili fell nearly 10%, in addition, Zulong Entertainment, NetDragon fell 13%, CMGE fell more than 16%, and XD fell more than 19%.

Tencent's market value has fallen by one Xiaomi
Tencent's market value has fallen by one Xiaomi

According to calculations, the market value of Hong Kong stock Tencent Holdings evaporated by 367.05 billion Hong Kong dollars (about 334.8 billion yuan), almost losing a Xiaomi (market value of about 393.1 billion Hong Kong dollars, about 358.58 billion yuan), and the market value of Hong Kong stock NetEase also evaporated 137.5 billion Hong Kong dollars (about 125.4 billion yuan), with a total evaporation of more than 460 billion yuan.

In addition, a number of game ETFs dived to the limit. As of the close of trading on the afternoon of December 22, ChinaAMC CSI Animation & Game ETF, Huatai Pineapple CSI Animation & Game ETF, and Cathay CSI Animation & Game ETF hit the fall limit.

Earlier on the same day, the National Press and Publication Administration solicited public comments on the Measures for the Administration of Online Games (Draft for Solicitation of Comments) (hereinafter referred to as the "Draft for Solicitation of Comments").

Tencent's market value has fallen by one Xiaomi

Screenshot of the webpage of the National Press and Publication Administration.

The draft for comments proposes to stipulate that online games must not set up inducing rewards such as daily login, first top-up, and continuous top-up. Online game publishing business units must not provide or condone high-priced transactions of virtual props through methods such as speculation or auctions. All online games must set user recharge limits and publicize them in their service rules, and pop-up warnings should be given to users' irrational consumption behaviors.

It is worth mentioning that the draft for comments not only involves the protection of minors, but also clarifies the guardianship responsibilities of minors. It points out that parents or other guardians should perform guardianship duties for minors in accordance with law, guide minors to use online games healthily and reasonably, carry out activities beneficial to physical and mental health, develop good living Xi, establish correct concepts of online game consumption, prevent and stop minors from becoming addicted to online games, and at the same time should improve their own network literacy, regulate their own use of online games, and strengthen guidance and supervision of minors' use of online games.

In this regard, some netizens said that "moderate games are beneficial, excessive games affect work and Xi and physical and mental health"; some netizens suggested, "At present, the ownership of the gamer's account is in the hands of the game company, hoping to protect the gamer's virtual property".

Zhang Wei, vice president of Tencent Games, believes that the draft of the new management measures does not fundamentally change the key elements of the game's business model, operation rhythm and so on. The regulatory authorities have issued a draft of the new management measures to solicit opinions from the industry and society, which is believed to be more conducive to the orderly and healthy development of the game industry.

In addition, the draft for comments intends to encourage high-quality original games and international cooperation. These include: encouraging the research and development and promotion of online games that are guided by the core socialist values, develop advanced socialist culture, carry forward revolutionary culture, inherit the excellent traditional Chinese culture, promote scientific and technological progress, have innovative value, are conducive to physical and mental health, and are entertaining;

Guo Yuanyuan, deputy dean of the Institute of Megacity Economic and Social Development of the Capital University of Economics and Business, pointed out that at present, the originality of China's domestic games has improved compared with previous years, including the originality of games, and domestic game manufacturers should be encouraged to carry out international cooperation to help culture go global and promote market prosperity.

Tencent's market value has fallen by one Xiaomi

On the 22nd, the National Press and Publication Administration announced a new batch of imported game version numbers, and 40 games were approved.

Zhongxin Finance noticed that on the 22nd, the National Press and Publication Administration announced a new batch of imported game version numbers, and 40 games were approved. These include Perfect World's "One Punch Man: World", Gigabit's Thunder Network's "Candle Dungeon 2", Zhongqingbao's "Monster Train", and Kaiying Network's "About My Reincarnation as a Slime: New World" and so on.

According to the "2023 China Game Industry Report" released this month, in 2023, the actual sales revenue of China's domestic game market will be 302.964 billion yuan, a year-on-year increase of 13.95%, breaking the 300 billion mark for the first time, and the number of users will be 668 million, a year-on-year increase of 0.61%, a record high. In addition, the overseas sales revenue of self-developed products was 16.366 billion US dollars, and the scale exceeded 100 billion yuan for four consecutive years. (Chinanews.com)

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