Tencent dominates game revenues

Business | Agencies and Winnie Lee 21 Oct 2020

Tencent's (0700) Honor of Kings attracted US$240 million (HK$1.86 billion) in revenue in September, topping global mobile games, according to Sensor Tower.

Honor of Kings' revenue rose 87 percent compared to the same period last year. Of this amount, 96 percent came from China.

Another Tencent game, PUBG Mobile, ranked second in global mobile games. Its revenue grew 13.3 percent year-on-year to over US$198 million. Over half the revenue came from Chinese players, while American players contributed 12.4 percent.

Tencent shares rose 0.53 percent to HK$564.5 yesterday.

Meanwhile, Impossible Foods, in which Li Ka-shing's Horizons Ventures has invested, said it will enter the mainland market in the next few months. Starting this week, Impossible Beef will be available at nearly 100 ParknShop banner stores across Hong Kong and Singapore.

And Australia's V2food, which also saw investment from Horizons Ventures, has raised A$77 million (HK$420 million) in a series B funding from a group that includes Chinese food firm Esenagro, investment bank China Renaissance Holdings's Huaxing Growth Capital, and investment firm ABC World Asia.

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