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

TENCENT HOLDINGS LIMITED

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Tencent : Chinese online tutoring start-up Yuanfudao raises $2.2 bln, values firm at $15.5 bln

10/21/2020 | 10:40pm EST

BEIJING, Oct 22 (Reuters) - Beijing-based education technology startup Yuanfudao said on Thursday that it has secured $2.2 billion from major Chinese and international investors in two recent rounds of financing that it said lifts the company's valuation to $15.5 billion.

One round of financing was led by Chinese social media and gaming giant Tencent, with participation from Hillhouse Capital, Boyu Capital and IDG Capital, Yuanfudao said in a statement. Yuanfudao raised $1.2 billion in the round, Reuters has reported.

A second round was led by DST Global, and other investors include CITICPE and Singapore investors GIC and Temasek.

The new funds mean the startup, which operates live tutoring platforms and online homework services, has doubled its valuation within a year as investors increase bets on a sector that saw a surge of interest after the coronavirus pandemic triggered a migration to online classes. The company said it currently has 400 million users in China.

In March, it raised $1 billion, valuing it at $7.8 billion.

Yuanfudao's main rival Zuoyebang has also started a new fundraising drive at a valuation of $10 billion, Reuters reported last month.

(Reporting by Yingzhi Yang in Beijing and Brenda Goh in Shanghai; Editing by Kim Coghill and Kenneth Maxwell)


© 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%
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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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