Chinese e-sports firm VSPN has filed a prospectus with the Hong Kong Stock Exchange on January 31 for listing on its Main Board, with Bank of America, CICC and Credit Suisse acting as joint sponsors.
Kuaishou and Suzhou's Municipal Government have recently signed a strategic cooperation agreement that will see future investment in high-quality resources promote the settlement of Kuaishou's e-sports headquarter in Suzhou.
According to market survey results recently released by analysis and consultancy firm Omdia, the e-sports market with the highest income in the world has changed from the U.S. to China in the past five years.
As for the collapse of the popular game, some netizens speculated that it was related to the fact that regulatory authorities have recently restricted the time minors are allowed to play online games.
In mid-August, Tencent's IEG announced a series of departmental and personnel adjustments to set up an eGame Center, which would be fully responsible for product R&D, operation and promotion of eGame.
Last week, the esports industry in China went through a bit of turmoil as Typhoon In-fa passed through Shanghai and caused multiple esports competitions to be suspended, including League of Legends Pro League.
There were a number of new developments across China's gaming industry this week, including the approval of 43 imported games, ImbaTV's announcement to host Valorant Competition and Bilibili's new partnership with Ping An Bank.
Over the past week, China's esports industry saw several key developments, primarily related to Tencent esports titles, including Honor of Kings, Peacekeeper Elite, League of Legends and CrossFire.
Last week several prominent non-endemic partnerships surfaced within the League of Legends esports scene, as did a multi-million dollar Series B2 financing round from China’s biggest esports company, VSPN.
Chinese esports company VSPN on Tuesday announced the completion of a multi-million dollar Series B2 financing round, led by Morgan Stanley Private Equity Asia (MSPEA). The funding will be directed towards the firm's global business expansion and the development of its esports content matrix, the VSPN+.
Last week, Chinese esports organization Royal Never Give Up (RNG) crushed their opponent, South Korean team DWG KIA, in a best-of-five game to win the championship in the League of Legends Mid-Season Invitational (MSI).
Last week was significant for the China esports industry and for Tencent Esports in particular. Not only did a game publisher reveal its tournament and esports business summit plan, but solid achievements from Chinese esports events were also reported, according to a new report from the Chinese authority.
Over the past week, the esports industry in China has celebrated the International Labor Holiday by hosting multiple esports competitions for audiences and fans. Shanghai-based tournament organizer Imba TV hosted its $185 thousand Dota 2 i-League at the Shanghai Aegean Shopping Park in front of a limited live audience, while Tencent and VSPN also hosted a two-year anniversary party for Peacekeeper Elite in Chongqing, at which multiple partnerships were signed.
Last week, China’s esports industry saw several significant partnerships and sponsorships.
Chinese live-streaming platform Huya Inc revealed it has signed a $310 million media rights deal with the country’s League of Legends operator TJ Sports, according to a filing to the US Securities and Exchange Commission.