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    002024   CNE000001KF2

SUNING.COM CO., LTD.

(002024)
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China market regulator fines 12 firms for violating anti-monopoly law

03/12/2021 | 04:03am EDT
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo

BEIJING (Reuters) - China's market regulator said on Friday it had fined 12 companies related to 10 deals that violated anti-monopoly rules.

The companies included Baidu Inc, Tencent Holdings, Didi Chuxing, SoftBank and a ByteDance-backed firm, the State Administration for Market Regulation (SAMR) said in a statement on Friday.

The companies were fined 500,000 yuan ($77,000) each for behaviour that caused market concentration but did not exclude all competition from other companies, SAMR said.

Tencent said in a statement it would actively rectify operations and provide the regulator with timely reports on deals in future.

ByteDance said a joint venture between its affiliated firm and Shanghai Dongfang Newspaper Co Ltd, which were both fined, was never in operation and the JV was disbanded in January.

SoftBank declined to comment. Baidu and Didi did not immediately respond to requests for comment.

China has stepped up scrutiny of its internet giants in recent months, citing concerns over monopolistic behaviour and potential infringement of consumer rights.

The regulator has fined Alibaba, Tencent-backed China Literature and other firms for not reporting deals properly for anti-trust reviews. It also fined company involved in an auto-related deal on Thursday.

(Reporting by Yingzhi Yang, Cheng Leng, Pei Li, Yilei Sun and Tony Munroe; Editing by Christian Schmollinger, Karishma Singh and Lincoln Feast)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -1.30% 150.1415 Delayed Quote.-34.74%
BAIDU, INC. -0.46% 159 Delayed Quote.-26.06%
CHINA LITERATURE LIMITED 0.08% 63.4 End-of-day quote.4.19%
DIDI GLOBAL INC. 0.76% 8.04 Delayed Quote.0.00%
GOLDEN EAGLE RETAIL GROUP LIMITED 0.00% 6.82 End-of-day quote.-3.13%
SOFTBANK CORP. -1.61% 1531 End-of-day quote.18.41%
SOFTBANK GROUP CORP. 1.90% 6449 End-of-day quote.-19.97%
SUNING.COM CO., LTD. 0.19% 5.19 End-of-day quote.-32.68%
TENCENT HOLDINGS LIMITED 2.93% 463.2 End-of-day quote.-17.87%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.20% 6.45445 Delayed Quote.-0.42%
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Analyst Recommendations on SUNING.COM CO., LTD.
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Financials
Sales 2021 248 B 38 386 M 38 386 M
Net income 2021 -2 361 M -365 M -365 M
Net Debt 2021 7 911 M 1 225 M 1 225 M
P/E ratio 2021 -20,4x
Yield 2021 -
Capitalization 47 356 M 7 328 M 7 332 M
EV / Sales 2021 0,22x
EV / Sales 2022 0,14x
Nbr of Employees 45 598
Free-Float 29,3%
Chart SUNING.COM CO., LTD.
Duration : Period :
Suning.com Co., Ltd. Technical Analysis Chart | 002024 | CNE000001KF2 | MarketScreener
Technical analysis trends SUNING.COM CO., LTD.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 11
Last Close Price 5,19 CNY
Average target price 7,67 CNY
Spread / Average Target 47,9%
EPS Revisions
Managers and Directors
Jun Ren President & Director
Wei Huang Chief Financial Officer & Board Secretary
Xiao Ling Wang Chairman-Supervisory Board
Mingduan Huang Chairman
Xian Ming Fang Independent Director
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