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

TENCENT HOLDINGS LIMITED

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Tencent : China approves country's second personal credit agency, JD.com, Xiaomi take stakes

12/04/2020 | 06:16am EST
FILE PHOTO: People wearing protective face masks visit Xiaomi brand's store in Kyiv

BEIJING (Reuters) - China's central bank on Friday granted approval for the set up of a personal credit agency to be jointly held by an investment arm of the Beijing government, subsidiaries of e-commerce giant JD.com and Xiaomi Corp, and facial recognition start-up Megvii Technology.

The agency, named the Pudao Credit Rating Co Ltd, will be registered with 1 billion yuan ($153.19 million) in Beijing, a statement from the People's Bank of China (PBOC) said.

The agency will become the second personal credit agency licensed by the PBOC.

In recent years, the central bank has been trying to link loan data among different online lending platforms and share credit information to prevent over-borrowing and fraud. In 2018, it launched Baihang Credit, Chi­na's first licensed personal credit agency with nine parties co-invested, including credit rating units of Ant Group and Tencent Holdings.

The PBOC is also pushing micro-lenders that source clients from e-commerce platforms to share credit information with the central bank in a move to strengthen supervision on such loans amid fears of rising defaults and deteriorating asset quality. Beijing Financial Holdings Group, owned and controlled by the Beijing municipal government, will take a majority stake of 35% in Pudao Credit, with JD Digits taking 25% and Beijing Xiaomi Technology Co and Megvii Technology each taking 17.5% respectively, according to the statement.

The remaining 5% will be held by a private equity firm.

($1 = 6.5280 Chinese yuan renminbi)

(Reporting by Cheng Leng, Zhang Yan and Ryan Woo; Editing by Raju Gopalakrishnan)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
TENCENT HOLDINGS LIMITED 0.44% 682.5 End-of-day quote.21.01%
XIAOMI CORPORATION -3.13% 30.95 End-of-day quote.-6.78%
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Financials
Sales 2020 481 B 74 366 M 74 366 M
Net income 2020 128 B 19 811 M 19 811 M
Net cash 2020 71 097 M 11 002 M 11 002 M
P/E ratio 2020 43,0x
Yield 2020 0,24%
Capitalization 5 418 B 838 B 838 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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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 50
Average target price 578,79 CNY
Last Close Price 568,95 CNY
Spread / Highest target 24,3%
Spread / Average Target 1,73%
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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