Today, Chinese mobile gaming giant Tencent reported its highest share price rise in one day since July 2023, thanks to the surprise announcement of Dungeon and Fighter Mobile’s Chinese release date. The company has been working on this mobile adaptation of the online beat-’em-up for over seven years.
Nexon’s Dungeon and Fighter Mobile originally came out in South Korea back in 2022, but according to Reuters, “its China release was delayed after the government cracked down on the gaming industry between 2018 and 2022.” This means that despite owning and operating some of the best mobile games on the market, like Honor of Kings, Call of Duty: Mobile, and PUBG Mobile, Tencent’s domestic profits have struggled in recent years.
The industry crackdowns hit the company especially hard as it specializes in bringing foreign games to the Chinese market. This is why Dungeon and Fighter Mobile’s May 21 release date was a shock to Tencent’s investors, causing the share prices to rise. According to Reuters, share prices were up by about 4.5% this morning, and MarketWatch reports that this has increased to 5.9%, putting the price on “track for their largest one-day percentage gain since July.”
Tencent continues to face fierce competition across the gaming market and has shown signs of struggling to keep up with the likes of NetEase, Hoyoverse, and ByteDance. Bloomberg reports that Tencent fast-tracked Dungeon and Fighter Mobile’s release after positive beta tests to help the company recover from a “soft first quarter,” during which its casual title Dream Star lost out significantly to NetEase’s Eggy Party.
Junghun Lee, President and CEO of Nexon says, “Based on the enthusiastic player response to the Beta Test we offered earlier this year, and the strong marketing campaign planned by Tencent, we strongly believe Dungeon&Fighter Mobile can energize our large base of existing fans and attract new players to the franchise.”
It’s unclear if a global release for Dungeon and Fighter Mobile is in the works, but the Honor of Kings release date is fast approaching, bringing yet another of Tencent’s ultra-successful titles to the worldwide market.
That’s everything we know so far about Tencent’s rising share price. While you’re here, check out our list of CoD Mobile redeem codes or our guide to the Honor of Kings characters.
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