A quote from a report on Tencent's recent quarterly profit result. Looks like online gaming had a significant boost from lock-downs. Bodes well for ALL's digital business.
"Its online gaming business grew revenue 31 per cent to RMB37.3 billion. While its fintech, commercial payments and wealth management platform increased sales 22 per cent to RMB26.4 billion. The group declined to provide specific guidance other than to suggest gaming revenues may normalise as people return to work, while online advertising markets face COVID-19 related headwinds.Tencent Holdings rose 4.5 per cent overnight."
Ann: Update on COVID-19 Response, page-17
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