Is Tencent losing control of its game?

More: The push for blockchain tech in China’s judicial system and Alibaba’s slowest quarterly growth since its US listing in 2014. [Read from your browser]( Daily Newsletter Hello {NAME} Why are teenagers in China buying [fake IDs]( online? Is it for purchasing alcohol? Or is it to enter bars and clubs? Turns out, many just want to play a mobile game. More than 100 million people in China play Tencent’s Honor of Kings, which combines swashbuckling sword-and-sorcery action with characters that Chinese players are familiar with. Despite its addictive gameplay, Honor of Kings saw a decrease of 28% and 2% in terms of time spent in its platform for February and March, respectively. Excessive bureaucracy, harsh censorship, and encroachment into day-to-day management are all drawbacks of having Beijing on your side. In today’s top story, my colleague Collin has the rundown on Tencent’s growing troubles and its plan of action going forward. Today we look at: - Tencent’s [toughest battle in China’s gaming arena]( - The potential ousting of YGG as an investor in Merit Circle - Other newsy highlights such as the push for blockchain tech in China’s judicial system and Alibaba’s slowest quarterly growth since its US listing in 2014. Also, do fill out [this CDP x Tech in Asia questionnaire survey]( and be part of our campaign to help the startup ecosystem go green. -- Deepti --------------------------------------------------------------- THE BIG STORY [Tencent’s gameplay in a sea of troubles]( As Tencent posts its lowest Q1 revenue growth in over 15 years, we look at the problems it faces and its strategy going forward. --------------------------------------------------------------- IN PARTNERSHIP WITH Say hello to the new Ops in town As businesses continue to find ways to streamline their cross-functional processes, more and more “Ops” departments have been added to the fold - ProductOps being one of the more recent additions. Despite being a relatively new discipline, ProductOps has grown 80% as a skill on LinkedIn over the past year. Put simply, ProductOps collaborates cross-functionally to streamline releases and standardize processes, and it is a key supporting function between engineering, product, and customer success teams. Find out more about ProductOps and how it fits into modern tech enterprises in Asia at New Relic’s session during Tech in Asia’s Product Development Conference on June 9. Register and [get your ticket here](. --------------------------------------------------------------- TRENDING NEWS [Alibaba posts record-low quarterly growth since 2014]( Considering the uncertainties arising from the Covid-19 pandemic, the Chinese ecomerce major did not give a financial guidance for FYE 2023. [Proposal looks to boot YGG as early Merit Circle backer due to 'lack of value']( YGG said it had been working with Merit Circle to resolve the situation, with the latter giving the proposal’s author time to revise their proposition. [China’s top court pushes for blockchain in judicial system]( The judicial system has also been asked to partner with blockchain firms for intellectual property protection and business environment optimization. [Musk’s Starlink to launch satellite-based internet services in the Philippines]( After the rollout later this year, the Philippines will be the first in Southeast Asia to offer Starlink’s services, Nikkei Asia reported. [How Melbourne is driving the growth of AI startups]( The Victorian government is doubling down on its investments into the AI sector, which presents plenty of opportunities for startups looking to tap into the Australian market. [True Global Ventures invests $3m in SG document management startup]( Dedoco has a presence in Singapore, Australia, Malaysia, and Thailand, and it plans to enter the US market this year. --------------------------------------------------------------- EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - *Free Event* Tech in Asia's Product Development Conference on June 8-9 Just ONE WEEK left to our flagship Product Development Conference! Join 5,000+ product professionals and enthusiats and notable speakers from high-growth companies. We also have several sessions dedicated to Web3 product development, with speakers from Solana Labs, Darkmeta, Stripe, Spartan Labs, and Multiverse Labs. [Get your free ticket now]( before it runs out! --------------------------------------------------------------- WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [IT Infrastructure Engineer]( at PT. YUKK Kreasi Indonesia Jakarta, Indonesia - [NetSuite Developer (Remote)]( at SwipeRx (mClinica) Manila, Philippines - [Head of Marketing]( at Hangry Jakarta, Indonesia - [Android Developer Internship (Remote)]( at SwipeRx (mClinica) Manila, Philippines - [E-commerce Associate]( at The Parent Inc (theAsianparent) Kuala Lumpur, Malaysia - [Research and Development Associate]( at Hangry Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](. --------------------------------------------------------------- Copyright © 2022 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894