‘Perform Strongly’Tencent has come a long way since hitting a low in 2018, when China froze the approval process for new games.
Since then, the stock has almost doubled, and the tech giant reported last month a 26% jump in revenue for the first quarter.“Tencent’s online games segment will probably perform strongly through the Covid-19 pandemic, and most of its other businesses are relatively unscathed," said Vey-Sern Ling, senior analyst of Bloomberg Intelligence.That’s been a boon for Pony Ma, 48, who owns a 7% stake in the company and pocketed about $757 million from selling some 14.6 million of his Tencent shares this year, data complied by Bloomberg show.Pony Ma, a native of China’s southern Guangdong province, studied computer science.