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    700   KYG875721634

TENCENT HOLDINGS LIMITED

(700)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 10/22
509.5 HKD   +0.79%
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Chinese Videogame Giants Tumble After Authorities Reiterate Rules

09/09/2021 | 02:26am EDT

By Yifan Wang

Shares of Chinese videogame giants Tencent Holdings Ltd. and NetEase Inc. tumbled on Thursday, after authorities summoned the companies and ordered them to follow new rules for the online-gaming industry.

On Wednesday, China's National Press and Publication Administration, Cyberspace Administration and other regulators told the companies and others to adhere to recent regulations that specify much tighter restrictions over minor gamers' playing time. The regulators also ordered the companies to step up their content control and censorship, and to prevent unfair competition.

Authorities warned of strict oversight and severe punishment if problems are found.

Tencent shed as much as 6.7%, while NetEase's Hong Kong-listed shares lost up to 7.7%.

Video-platform operator Bilibili Inc. and Kuaishou Technology also fell, as both companies derive a substantial portion of their revenues from game-related businesses. Bilibili was recently 6.8% lower and Kuaishou dived 6.3%.

Thursday's steep losses followed a brief recovery in China's technology sector, as cheap valuations and solid second-quarter earnings eased some investor concerns about regulatory uncertainty.

Tencent and NetEase didn't immediately respond to requests for comment.

Beijing has in recent weeks expanded its aggressive regulatory actions, which have hurt the stock performance of Chinese companies from education operators to fintech firms and the online gaming industry.

Last month, a state media report criticized internet games' negative impact on young people, sending shares of major game developers tumbling nearly 10% in one day.

Tencent and NetEase have shed 18% and 20%, respectively, over the past three months.

Write to Yifan Wang at yifan.wang@wsj.com

(END) Dow Jones Newswires

09-09-21 0225ET

Stocks mentioned in the article
ChangeLast1st jan.
BILIBILI INC. -0.63% 82.1 Delayed Quote.-4.22%
KUAISHOU TECHNOLOGY 5.74% 102.2 End-of-day quote.0.00%
NETEASE, INC. 0.48% 102.24 Delayed Quote.6.76%
TENCENT HOLDINGS LIMITED 0.79% 509.5 End-of-day quote.-9.66%
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Analyst Recommendations on TENCENT HOLDINGS LIMITED
More recommendations
Financials
Sales 2021 577 B 90 324 M 90 324 M
Net income 2021 150 B 23 439 M 23 439 M
Net cash 2021 148 B 23 223 M 23 223 M
P/E ratio 2021 27,1x
Yield 2021 0,38%
Capitalization 3 986 B 624 B 624 B
EV / Sales 2021 6,65x
EV / Sales 2022 5,47x
Nbr of Employees 94 182
Free-Float 62,4%
Chart TENCENT HOLDINGS LIMITED
Duration : Period :
Tencent Holdings Limited Technical Analysis Chart | 700 | KYG875721634 | MarketScreener
Technical analysis trends TENCENT HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 52
Last Close Price 418,46 CNY
Average target price 530,61 CNY
Spread / Average Target 26,8%
EPS Revisions
Managers and Directors
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
Yu Xin Ren COO & President-Interactive Entertainment Group
Sector and Competitors
1st jan.Capi. (M$)
TENCENT HOLDINGS LIMITED-9.66%624 281
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NASPERS LIMITED-11.74%73 119