Photo/VCG

Dec. 18 (NBD) -- A Chinese district court in Shenzhen on Tuesday ruled Shanghai Panda Interactive Entertainment and Culture Co. Ltd. ("Panda Interactive Entertainment") to pay Tencent a total of 3.6 million yuan (514,514 U.S. dollars), of which 3 million yuan is for licensing fees and 600,000 yuan is for interests and penalty.

Panda Interactive Entertainment, the operator of once-flying game streaming platform Panda TV, was founded by Wang Sicong, son of Chinese tycoon Wang Jianlin.

Established in 2015, Panda TV was once considered one of China's most promising game live-streaming platforms but ended its service this March after failing to raise fresh funds to keep operations.

National Business Daily noticed that on November 21 of this year, a Shanghai court issued three consumption restriction orders against Wang Sicong and Panda Interactive Entertainment over service contract disputes involving Panda TV.

And early last month, another court in Beijing blacklisted Wang Sicong as the latter owes some 150 million yuan.

Email: lansuying@nbd.com.cn