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Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

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Cross Asset Strategy

<ul><li>Time banks / In Depth: Why time banks haven’t caught on in China</li><li>Digital banks / Top Chinese digital banks report more bad loans but higher earnings</li><li>Banking / In Depth: China’s banks look to bolster bottom line after lending binge</li></ul>

Time banks / In Depth: Why time banks haven’t caught on in ChinaDigital banks / Top Chinese digital banks report more bad loans but higher earningsBanking / In Depth: China’s banks look to bolster bottom line after lending binge

CX Daily: Why Time Banks Haven’t Caught On in China

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<ul><li>China’s online game market revenue declined by 15% YoY but increased by 16% QoQ to RMB67.5bn in 1Q23, according to CNG.</li><li>We saw an early recovering sign in March 2023, with monthly game market revenue down by only 3% YoY (versus -23%/17% YoY in Feb/Jan), thanks to more quality game launches.</li><li>Looking ahead, we are positive that online game market revenue will recover to positive YoY growth in 2Q23E, supported by the normalisation of game license approval and the launch of highly-anticipated titles like Tencent’s Metal Slug: Awakening and miHoYo’s Honkai: Star Rail. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China’s online game market revenue declined by 15% YoY but increased by 16% QoQ to RMB67.5bn in 1Q23, according to CNG.We saw an early recovering sign in March 2023, with monthly game market revenue down by only 3% YoY (versus -23%/17% YoY in Feb/Jan), thanks to more quality game launches.Looking ahead, we are positive that online game market revenue will recover to positive YoY growth in 2Q23E, supported by the normalisation of game license approval and the launch of highly-anticipated titles like Tencent’s Metal Slug: Awakening and miHoYo’s Honkai: Star Rail. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Internet – 1Q23 online game market recap

<ul><li>In Depth: Tencent, ByteDance gut metaverse units in virtual reality check</li><li>Xi affirms China’s commitment to restoring peace in Ukraine in phone call with Zelenskyy</li><li>British Airways resumes service to China after two-year hiatus</li></ul>

In Depth: Tencent, ByteDance gut metaverse units in virtual reality checkXi affirms China’s commitment to restoring peace in Ukraine in phone call with ZelenskyyBritish Airways resumes service to China after two-year hiatus

CX Daily: Tencent, ByteDance Gut Metaverse Units in Virtual Reality Check

<ul><li>Rivals ByteDance Ltd.’s Douyin and Tencent Holdings Ltd. have reached a deal to collaborate on video content, marking the latest move toward reconciliation between the two Chinese tech giants that have been locked in copyright disputes for years.</li><li>Under the agreement, Douyin — the Chinese version of TikTok — and Tencent Video will explore cooperating on areas including joint promotion of long and short videos as well as generation of secondary content, Douyin said in a statement on Friday.</li><li>The short-video platform said that Tencent Video will authorize the use of its copyrighted long videos to Douyin, and that rules over the creation of secondary content and publication have been clarified.</li></ul>

Rivals ByteDance Ltd.’s Douyin and Tencent Holdings Ltd. have reached a deal to collaborate on video content, marking the latest move toward reconciliation between the two Chinese tech giants that have been locked in copyright disputes for years.Under the agreement, Douyin — the Chinese version of TikTok — and Tencent Video will explore cooperating on areas including joint promotion of long and short videos as well as generation of secondary content, Douyin said in a statement on Friday.The short-video platform said that Tencent Video will authorize the use of its copyrighted long videos to Douyin, and that rules over the creation of secondary content and publication have been clarified.

ByteDance’s Douyin and Tencent Reach Video Cooperation Deal as Tensions Thaw

<ul><li>Revenue of China’s online game market decreased by 23% YoY to RMB21.6bn in Feb 2023 per CNG, as new games were yet to make meaningful revenue contribution, and 2022 Chinese New Year (CNY) holiday fell in February whilst it took place in January in 2023, which led to a tougher comp.</li><li>Smoothing out CNY impact, 2M23 online games market revenue was down 20% YoY.</li><li>As game license approval resumed, many highly anticipated game titles are lined up for launch and will lead industry recovery from 2Q23 onwards, in our view. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Revenue of China’s online game market decreased by 23% YoY to RMB21.6bn in Feb 2023 per CNG, as new games were yet to make meaningful revenue contribution, and 2022 Chinese New Year (CNY) holiday fell in February whilst it took place in January in 2023, which led to a tougher comp.Smoothing out CNY impact, 2M23 online games market revenue was down 20% YoY.As game license approval resumed, many highly anticipated game titles are lined up for launch and will lead industry recovery from 2Q23 onwards, in our view. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Internet – February online game market recap

China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

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Tencent Holdings (ADR) (TCEHY US)

CX Daily: Why Time Banks Haven’t Caught On in China

In Depth: Why time banks haven’t caught on in China. Top Chinese digital banks report more bad loans but higher earnings. In Depth: China’s banks...

Caixin Global

China Internet – 1Q23 online game market recap

We saw an early recovering sign in March 2023, with monthly game market revenue down by only 3% YoY (versus -23%/17% YoY in Feb/Jan), thanks to...

CMB International

CX Daily: Tencent, ByteDance Gut Metaverse Units in Virtual Reality Check

In Depth: Tencent, ByteDance gut metaverse units in virtual reality check. Xi affirms China’s commitment to restoring peace in Ukraine in phone...

Caixin Global

ByteDance’s Douyin and Tencent Reach Video Cooperation Deal as Tensions Thaw

Rivals ByteDance Ltd.’s Douyin and Tencent Holdings Ltd. have reached a deal to collaborate on video content, marking the latest move toward...

Caixin Global

China Internet – February online game market recap

Revenue of China’s online game market decreased by 23% YoY to RMB21.6bn in Feb 2023 per CNG, as new games were yet to make meaningful revenue...

CMB International

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