Headlines from China: Tencent Releases Q1 2018 Financial Report

Tencent Releases Q1 2018 Financial Report

This week, Tencent released the company’s Q1 2018 financial report. According to the report, the company’s total revenue during the reporting period was 73.53 Billion ($11.53 Billion), a 48 percent jump compared to the same period last year. The growth was largely driven by its smartphone games, such as King of Glory, QQ Speed Mobile and Miracle MU: Awakening. The report also mentioned Tencent’s short-video platform Weishi. Tencent President Martin Lau said that the company would invest heavily in Weishi in the future. Read more on entgroup.cn

 Several Global Funds Invested in Bilibili in Q1

Recent documents from stock market regulator show that Chinese video site Bilibili have received investments in Q1 from several global funds, including Tiger Management Corp., Point72 Ventures, and Millenium Management. Since its IPO in March, Bilibili’s stock price has gone up by 13%. The documents also reveal a few other investors of Bilibili, including China’s Hillhouse Capital Group, Jericho Capital, SCGE Management, and Maplelane Capital. Read more on jrj.com

Youku Releases Drama Series ‘Shanghai Women’s Manual’

Following Beijing Women’s Manual, Chinese video platform Youku officially released drama series Shanghai Women’s Manual yesterday. Both series were adapted from Japanese drama series Tokyo Joshi Zukan, but reflect specific realities in each city. TV dramas that focus on urban life have always been popular in China. Beijing and Shanghai are the two cities that are featured in most shows of this type. In this article, the author takes a look at urban drama series from 1990 up to now, and summarizes how the content evolves along with the development of the Chinese society. Read more on yiyuguancha