Investment thesis
Just like COVID-19 has been compressing years of fundamental changes into months in many industries, Tencent (TCEHY) is attempting to do the same in eSports in Asia. We believe Tencent's vision goes far beyond forming a "Twitch" of Asia. The successful merger of Huya (HUYA) and DouYu (DOYU) will see online games, live tournament events, and streamers in one giant platform. Avenues for monetization go beyond the scope of Twitch.
Backing from Tencent aside, individually, Huya and DouYu are excellent investments. Both companies have been expanding quality