China's potential new gaming rules will hit smaller developers more, analyst says
Publishing timestamp: 2023-12-24 23:09:11
Summary
The proposed gaming rules in China would have a greater impact on smaller developers compared to larger ones. The rules would also reduce overall online advertising revenue. Shares of Tencent, NetEase, and Bilibili dropped to their lowest levels in over a year after the draft rules were published. The comment period for the rules is open until January 24. The article also mentions that online games account for about 20% of the online ad industry's revenue and that gaming is a major source of revenue for NetEase. The financial impact of the proposed regulations is uncertain, but it is expected that new games would be affected more than existing ones.
Sentiment: NEGATIVE
Tickers: 700-HK, BILI, NTES, 9626-HK, 9999-HK,
Keywords: market insider, business news, netease inc, bilibili inc, tencent holdings ltd, stock markets, markets,