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

TENCENT HOLDINGS LIMITED

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China launches crackdown on mobile web browser 'chaos'

10/26/2020 | 10:17am EST

SHANGHAI, Oct 26 (Reuters) - China's top cyber authority said on Monday it would carry out a "rectification" of Chinese mobile internet browsers to address what it called social concerns over the "chaos" of information being published online.

China has tightened already strict internet censorship rules in recent years. In the latest crackdown, the Cyberspace Administration of China (CAC) gave browsers two weeks to conduct a self-examination focusing on problems including the spreading of rumours, use of sensationalist headlines and publishing of content that violates the core values of socialism.

The campaign will initially focus on eight of the most influential mobile browsers in China such as ones operated by Huawei Technologies Co Ltd, Alibaba Group Holding and Xiaomi Corp, the CAC said in a statement.

Others include the QQ platform owned by Tencent, Qihoo-owned 360, Oppo and Sogou.

"For some time, mobile browsers have grown in an uncivilised way ... and have become a gathering place and amplifier for dissemination of chaos by 'self-media'," the CAC said, echoing words it had used in a 2018 crackdown on social media accounts of independent news providers. [https://tinyurl.com/y4mj65jt]

Browsers should conduct a self-examination and rectification from Oct. 27 to Nov. 9, it said.

"After the rectification, mobile browsers that still have outstanding problems will be dealt with strictly according to laws and regulations until related businesses are banned," the CAC warned.

In recent years China has introduced legislation to restrict media outlets, surveillance measures for media sites and rolling campaigns to remove content deemed unacceptable.

Xiaomi declined to comment on the rectification campaign, while Huawei, Alibaba, Tencent, Oppo, Sogou and 360 did not immediately respond to requests for comment. (Reporting by Brenda Goh and Josh Horwitz; Additional reporting by Pei Li in Hong Kong; Writing by Tom Daly; Editing by Susan Fenton)


© Reuters 2020
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Financials
Sales 2020 481 B 72 929 M 72 929 M
Net income 2020 128 B 19 382 M 19 382 M
Net cash 2020 71 088 M 10 787 M 10 787 M
P/E ratio 2020 44,3x
Yield 2020 0,23%
Capitalization 5 556 B 717 B 843 B
EV / Sales 2020 11,4x
EV / Sales 2021 9,09x
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
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 50
Average target price 577,32 CNY
Last Close Price 584,00 CNY
Spread / Highest target 23,6%
Spread / Average Target -1,14%
Spread / Lowest Target -39,5%
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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