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

TENCENT HOLDINGS LIMITED

(700)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 11/26
586 HKD   +2.27%
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U.S. explores restrictions on Ant Group, Tencent payment platforms - Bloomberg News

10/07/2020 | 10:15pm EST
FILE PHOTO: FILE PHOTO: Employees are seen at the reception desk of Ant Financial Services Group at its headquarters in Hangzhou

(Reuters) - The United States is considering restrictions on China's Ant Group as well as Tencent Holdings Ltd over concerns their digital payment platforms threaten national security, Bloomberg News reported on Wednesday.

Such a move would mark a new deterioration in relations between the world's two largest economies, which have been stained by disputes over trade, Hong Kong's autonomy, cyber security and the spread of the novel coronavirus.

The step would also illustrate how President Donald Trump's administration is now seeking to prevent Chinese firms from engraining themselves in the U.S. financial system before they become a significant threat.

In the last year, the United States has cracked down on Huawei and TikTok after allowing the Chinese-owned firms to become major players in U.S. telecommunications infrastructure and social media, respectively. U.S. officials have expressed concerns that these firms could be passing on the information of U.S. citizens to China's Communist Party government.

Both Ant's Alipay and Tencent's WeChat payment platforms are used primarily by Chinese citizens holding accounts in renminbi. Most of their interactions with the United States are with U.S. merchants accepting payments from Chinese travelers and businesses.

Talks over how and whether to restrict Ant Group and Tencent's payment systems have picked up pace among senior U.S. officials in recent weeks, though a final decision is not imminent, Bloomberg reported, citing people familiar with the matter.

A spokesperson for Ant Group said the company was "unaware of any such discussions within the administration".

"Ant Group's business is primarily in China and we are excited about our growth prospects in the China market. Our mission is to contribute to economic growth and job creation through serving ordinary consumers and small businesses," the company said.

Tencent and the White House did not immediately respond to requests for comment.

The U.S. government has been taking separate action against Tencent's WeChat app. Last week, the U.S. Justice Department said it would appeal a judge's decision to block the government from barring Apple Inc and Alphabet Inc's Google from offering WeChat for download in U.S. app stores.

Ant Group, backed by Chinese e-commerce giant Alibaba, plans to list simultaneously in Hong Kong and on Shanghai's STAR Market this month in what could be the world's largest initial public offering, surpassing oil giant Saudi Aramco's $29.4 billion float in December.

The financial technology firm is seeking to raise about $35 billion after assessing early investor interest and based on a higher valuation of about $250 billion or more, Reuters has reported.

Shares of Alibaba, which owns a third of Ant, held up on the news and ended trading up 1.4% at $296.50 in New York on Wednesday, indicating that investors did not see any immediate financial fallout for the company. Ant derives 95% of its revenue from China.

(Reporting by Noor Zainab Hussain and C Nivedita in Bengaluru; Editing by Maju Samuel and Cynthia Osterman)


© Reuters 2020
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Financials
Sales 2020 481 B 73 108 M 73 108 M
Net income 2020 128 B 19 430 M 19 430 M
Net cash 2020 71 088 M 10 814 M 10 814 M
P/E ratio 2020 37,5x
Yield 2020 0,27%
Capitalization 4 704 B 716 B 716 B
EV / Sales 2020 9,64x
EV / Sales 2021 7,66x
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
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 50
Average target price 577,31 CNY
Last Close Price 494,47 CNY
Spread / Highest target 45,1%
Spread / Average Target 16,8%
Spread / Lowest Target -28,6%
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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