Tencent's attention is quite a reprieve for Mascotte, which at the last count had HK$700 million of convertible bonds due in December. Mascotte can convert the bonds into stock, but if the current deal happens it may not have to. With total assets of just HK$138 million, paying back in cash would not have been an option until now. What Tencent and Evergrande get is harder to divine. Mascotte these days mainly makes camera cases. As of September, its only hard assets were HK$28 million of property, equipment and pre-paid leases.