Tencent gets it spectacularly wrong

Where exactly has Tencent taken a direct equity stake there?

When Tencent actually puts its own capital at risk, it gets it more right than wrong.

https://www.google.com.au/amp/s/www.cnbc.com/amp/2017/03/28/messaging-app-parent-tencent-takes-stake-in-tesla.html

It became evident on Thursday that the relationship between Invigor and Winning Group had been further strengthened with the latter concluding a Memorandum of Understanding (MOU) to invest $1.5 million for a 10% shareholding in Invigor with the right to increase its investment to take its holding to 15%.

https://*********.com.au/invigor-signs-deal-china-largest-payments-platform-wechat/

The WeChat tie up did not do much good for IVO as they have been suspended for six months.and lost 98 percent of value.

APT added 2.5 Billion to its market cap on a Tencent statement without any detail of ongoing business or revenues.....quite clearly a share price built on sand