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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Tencent Holdings Limited    700   KYG875721634

TENCENT HOLDINGS LIMITED

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E-commerce firm Shopee in Thai twitter storm for banning anti-government store

10/03/2020 | 07:41am EST
The Shopee office in Singapore

E-commerce firm Shopee has reversed a ban on a store linked to a dissolved opposition party in Thailand, a spokeswoman said, after online criticism of its perceived pro-government stance.

#BanShopee became the third highest trending hashtag with over 57,000 uses on Saturday and many Twitter users saying they've deleted the app.

"Double standards @ShopeeTH," wrote Twitter user @chanson_2013. "You need to explain why you banned the stores of those advancing democracy but allow businesses who are pro government to sell on your platform."

Shopee, a unit of Tencent-backed Sea Ltd, is the latest business in Thailand to be targeted by pro-democracy campaigners for appearing to support the government of Prime Minister Prayuth Chan-ocha.

The campaign also comes a week ahead of the crucial online shopping event, 10.10.

"Our platform is neutral, and everything is up to company policy," a Shopee Thailand spokeswoman told Reuters, adding that its policies were applied equally to all sellers.

Companies in Thailand are finding it increasingly difficult to navigate political division. In August, after calls for a boycott, Burger King and others pulled advertisement off the Nation television, which activists branded as pro-government.

Shopee says Democstore had violated its terms several times before the ban for posting "politically sensitive" material.

Democstore is run by the Progressive Movement, a group founded by banned politicians from upstart opposition Future Forward party, which was dissolved in February.

"We were selling urban camping equipment for the protesters and we were banned," Progressive Movement spokeswoman Pannika Wanich told Reuters.

In September, ten thousand protesters joined an overnight demonstration calling for amendments to the constitution and reform of the monarchy.

DemocStore said it would continue selling t-shirts and mugs with the group's logo on the chat app, Line.

Anti-government memorabilia are fast becoming hot items online.

By Chayut Setboonsarng and Panarat Thepgumpanat


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
LINE CORPORATION 0.19% 5380 End-of-day quote.0.56%
SEA LIMITED 0.44% 177.7 Delayed Quote.341.82%
TENCENT HOLDINGS LIMITED 2.27% 586 End-of-day quote.56.02%
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Financials
Sales 2020 481 B 73 057 M 73 057 M
Net income 2020 128 B 19 416 M 19 416 M
Net cash 2020 71 088 M 10 806 M 10 806 M
P/E ratio 2020 37,7x
Yield 2020 0,27%
Capitalization 4 730 B 719 B 719 B
EV / Sales 2020 9,69x
EV / Sales 2021 7,70x
Nbr of Employees 70 756
Free-Float 60,4%
Chart TENCENT HOLDINGS LIMITED
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Tencent Holdings Limited Technical Analysis Chart | 700 | KYG875721634 | MarketScreener
Technical analysis trends TENCENT HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 50
Average target price 577,39 CNY
Last Close Price 497,16 CNY
Spread / Highest target 45,2%
Spread / Average Target 16,1%
Spread / Lowest Target -28,9%
EPS Revisions
Managers
NameTitle
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Yu Xin Ren COO & President-Interactive Entertainment Group
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
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