Headlines from China: Tencent Delivers Drop in Profit and Growth in Online Video in Q2

Tencent Delivers Drop in Profit and Growth in Online Video in Q2

On August 15, Chinese tech giant Tencent released the company’s unaudited Q2 financial report. According to the report, the company saw significant growth in Q2 with total revenue up 30% year-on-year to 73.7 billion yuan ($10.7 billion). However, net profit dropped 2% to 17.9 billion yuan ($2.7 billion). One of the highlights in the report is the company’s online video business. In Q2, Tencent Video’s paying members reached 74 million, a striking 121% jump compared to the same period last year. This also means that Tencent Video has surpassed iQiyi in number of paying members. As of June 30, 2018, the number of iQiyi’s paying members was 66.2 million. Read more on ifeng.com

Theatrical Run of ‘Shoplifters’ Extended to October 2 in China

Hirokazu Koreeda’s Shoplifters is reported to have extended its theatrical run in China to October 2. The 2018 Cannes Palme d’Or winning movie was released in China on August 3 and scored huge opening weekend with RMB 50 M. This movie has also just become the highest grossing Japanese live-action film in China. The record was previously held by Gintama. So far, the movie has earned 88.64 million yuan at the Chinese box office. Shoplifter is directed by Hirokazu Koreeda and stars Lily Franky, Sakura Andô, Mayu Matsuoka and Keiko Uchida. Read more on Mtime

Tom Cruise to Attend Premiere of “Mission Impossible-Fallout” in China

Today, Mission Impossible-Fallout released its official trailer and announced that its cast members, including Tom Cruise, Henry Cavill and Simon Pegg, will come to China on August 29 to attend premiere events of the film. Produced by Paramount Pictures and directed by Christopher McQuarrie, Mission Impossible-Fallout will hit Chinese theaters on August 31 in 2D, 3D, IMAX 3D, China Giant Screen (CGS), Dolby and Dolby Atmos. Read more on Mtime