Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

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

TENCENT HOLDINGS LIMITED

(700)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

India bans 59 mostly Chinese apps amid border crisis

share with twitter share with LinkedIn share with facebook
06/29/2020 | 01:33pm EDT
FILE PHOTO: Person holds a smartphone with Tik Tok logo displayed in this picture illustration

India on Monday banned 59, mostly Chinese, mobile apps including Bytedance's TikTok and Tencent's WeChat in its strongest move yet targeting China in the online space since a border crisis erupted between the two countries this month.

India's technology ministry issued an order stating the apps are "prejudicial to sovereignty and integrity of India, defence of India, security of state and public order".

Following the order, Google and Apple will have to remove these apps from the Android and iOS stores.

The move comes after a deadly border clash between the two nuclear-armed neighbours in a disputed Himalayan region earlier this month that resulted in the death of 20 Indian soldiers.

The ban is expected to be a big stumbling block for Chinese firms such as Bytedance in India, which have placed big bets in what is one of the world's biggest web services markets.

Beijing-headquartered Bytedance had plans to invest $1 billion in India, open a local data centre, and had recently ramped up hiring in the country.

India is the biggest driver of TikTok app installations, accounting for 611 million lifetime downloads, or 30.3% of the total, app analytics firm Sensor Tower said in April.

Among other apps that have been banned are Tencent's WeChat, which has been downloaded more than 100 million times on Google's Android, Alibaba's UC Browser and two of Xiaomi's apps.

Google said it was still waiting for government orders, while Apple did not respond to a request for comment. Bytedance did not immediately respond to a request for comment.

"This is the quickest and most powerful step the government could have taken to put economic pressure on Chinese companies," said Santosh Pai, a partner at Indian law firm Link Legal, which advises several Chinese companies.

Anti-China sentiment has long simmered in India over accusations of cheap imports flooding the country, but the border clash has brought tensions to the fore with calls being made to boycott Chinese products.

Indian customs at ports have since last week held back containers coming from China, including Apple, Cisco and Dell products, Reuters reported previously.

(Reporting by Sankalp Phartiyal, Aditya Kalra and Aditi Shah; Editing by Alison Williams and Steve Orlofsky)

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -0.93% 1501.72 Delayed Quote.13.25%
APPLE INC. -0.97% 387.8248 Delayed Quote.33.12%
CISCO SYSTEMS, INC. 0.30% 45.46 Delayed Quote.-3.25%
TENCENT HOLDINGS LIMITED 3.43% 543 End-of-day quote.44.57%
XIAOMI CORPORATION -0.37% 16.36 End-of-day quote.51.76%
share with twitter share with LinkedIn share with facebook
Latest news on TENCENT HOLDINGS LIMITED
05:20aTeam17 Group Signs Publishing Agreement With Tencent Games Studio
DJ
04:54aIndia's Reliance seen emerging as bigger threat for U.S. firms like Amazon, W..
RE
07/15TENCENT : Trump administration action on risks posed by TikTok likely 'in weeks'..
RE
07/15TENCENT : Trump administration action on risks posed by TikTok likely 'in weeks'..
RE
07/15TENCENT : Tengxunyun.net.cn Is Now Among the Best Online Blogs That Cover Inform..
AQ
07/15TENCENT : China's Shenzhen tightens home purchase curbs as prices spike
RE
07/15China shares derail as U.S. move against HK dents sentiment
RE
07/14FUNCOM : Compulsory acquisition of shares
AQ
07/14India's Flipkart to raise $1.2 billion in Walmart-led funding
RE
07/14FUNCOM : Intention to resolve a compulsory acquisition
AQ
More news
Financials
Sales 2020 476 B 68 002 M 68 002 M
Net income 2020 115 B 16 398 M 16 398 M
Net cash 2020 67 438 M 9 637 M 9 637 M
P/E ratio 2020 41,7x
Yield 2020 0,25%
Capitalization 4 395 B 629 B 628 B
EV / Sales 2019
EV / Sales 2020 9,10x
Nbr of Employees 64 238
Free-Float 60,3%
Chart TENCENT HOLDINGS LIMITED
Duration : Period :
Tencent Holdings Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TENCENT HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 45
Average target price 484,50 CNY
Last Close Price 489,53 CNY
Spread / Highest target 19,8%
Spread / Average Target -1,03%
Spread / Lowest Target -26,1%
EPS Revisions
Managers
NameTitle
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Yu Xin Ren COO & President-Interactive Entertainment Group
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
TENCENT HOLDINGS LIMITED44.57%665 640
NETFLIX, INC.61.71%230 132
PROSUS N.V.30.11%160 920
NASPERS LIMITED39.61%82 761
UBER TECHNOLOGIES, INC.10.32%56 892
SPOTIFY TECHNOLOGY S.A.72.85%48 069