In today’s briefing:
- China Gaming Restrictions 2.0
China Gaming Restrictions 2.0
- China has tightened restrictions on online games again driving significant falls in names such as Tencent and NetEase.
- While the move may surprise some given prior moves to restart approvals in our view the overall trend of regulation is not especially surprising.
- In particular, the tightened regulations appear to target the most important drivers of mobile gaming profitability and today’s large drops may actually be underreactions.
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