![]() ![]() This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. Goertek, known for supplying acoustic components to customers like Apple, is also a contract manufacturer of VR headsets for Meta Platforms' Reality Labs, the corporate successor to Oculus. ![]() This fund, in which video gaming studio 37Games is also an investor, focuses on start-ups involved in the fields of VR, AR, advanced manufacturing, smart vehicles and semiconductors. The announcement of HoYoverse's move to Singapore came on the same day it was revealed that miHoYo invested 100 million yuan (US$14.82 million) in an industry fund set up by Goertek in May, according to the Shenzhen-listed firm's regulatory filing on Monday.įor miHoYo, its investment represents an 18 per cent of stake in the enterprise called Qingdao Tongge Phase I Venture Capital Fund Partnership. The latest initiative by miHoYo shows that interest in metaverse-related developments remains strong among China's hi-tech companies, while building a new outpost in Singapore follows a trend among these firms to expand operations in that highly developed Southeast Asian city. Photo: Shutterstock alt=Genshin Impact, created by Chinese developer miHoYo, remains one of the world's most profitable video game titles. Genshin Impact, created by Chinese developer miHoYo, remains one of the world's most profitable video game titles.
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