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

TENCENT HOLDINGS LIMITED

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India bans 43 more mobile apps as it takes on China

11/24/2020 | 07:53am EST

NEW DELHI (Reuters) - India banned 43 mobile applications on Tuesday including Alibaba Group Holding Ltd's e-commerce app Aliexpress in a new wave of web sanctions targeted at China with whom it has engaged in a months-long standoff at a Himalayan border site.

The 43 mostly Chinese origin apps, which also include a few dating apps, threaten the "sovereignty and integrity of India", the federal technology ministry said in a statement.

India has previously banned more than 170 apps saying they collect and share users data which could pose a threat to the state.

The moves, which India's technology minister has referred to as a "digital strike", were initiated after 20 Indian soldiers were killed in a skirmish with Chinese troops at a disputed Himalayan border site in June.

Aliexpress is not a major player in India's fledgling e-commerce market, which is led by Walmart Inc's Flipkart and Amazon.com Inc's local unit. It is, however, popular with some motorcycle enthusiasts and small shopkeepers, who use it to source cheap goods.

The move is another setback for Chinese giant Alibaba, which is the biggest investor in Indian fin-tech firm Paytm and also backs online grocer BigBasket.

Its subsidiary UC Web laid off staff in India earlier this year after New Delhi first banned 59 Chinese-origin mobile apps that included UC Web's browser and two other products.

The Chinese tech giant was also forced to put on hold its plans to invest in Indian companies following the border tensions between the two nuclear-armed countries, Reuters previously reported.

India's slew of app bans have also jolted the ambitions of Chinese tech titans such as Bytedance and Tencent in the South Asian country, which is trying to reduce Beijing's influence in its burgeoning internet economy.

(Reporting by Sankalp Phartiyal; editing by Louise Heavens and Jason Neely)


© Reuters 2020
Stocks mentioned in the article
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Financials
Sales 2020 481 B 74 192 M 74 192 M
Net income 2020 128 B 19 765 M 19 765 M
Net cash 2020 71 097 M 10 977 M 10 977 M
P/E ratio 2020 43,0x
Yield 2020 0,24%
Capitalization 5 418 B 838 B 837 B
EV / Sales 2020 11,1x
EV / Sales 2021 8,87x
Nbr of Employees 77 592
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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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 50
Average target price 578,52 CNY
Last Close Price 568,95 CNY
Spread / Highest target 24,3%
Spread / Average Target 1,68%
Spread / Lowest Target -37,9%
EPS Revisions
Managers and Directors
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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