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

TENCENT HOLDINGS LIMITED

(700)
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End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 10/28
601 HKD   +2.74%
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China online education firm Yuanfudao to raise $1.2 billion to nearly double valuation - sources

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09/01/2020 | 03:57am EDT

Chinese online education platform Yuanfudao is set to raise $1.2 billion in a new funding round which will value it at about $13 billion, according to two people with direct knowledge of the issue.

Yuanfudao's existing investors, Tencent Holdings, Hillhouse Capital and Boyu Capital, will invest in this round, according to the people. The three are vying for a leading role in the fundraising with Tencent being the frontrunner, one of them said.

The eight-year-old company has nearly doubled its valuation within six months. In March, Yuanfudao raised $1 billion that valued it at $7.8 billion.

The company is planning to raise more fresh capital to include new investors in the near term at a different valuation, said one of the people, who declined to be identified as the information is confidential.

Yuanfudao and Boyu declined to comment. Tencent and Hillhouse did not immediately respond to requests for comment.

Yuanfudao's valuation surge comes as investors increase their bets on China's online education sector, which saw a surge of interest after the coronavirus outbreak triggered a migration to online classes.

Start-ups targeting K-12 education have been particularly popular, which raised 12.5 billion yuan in the first half, over 60% of the total amount raised by the sector, according to Chinese research firm IT Orange.

Online tutoring startup Zuoyebang in June raised $750 million in a fresh funding round, led by investment firms FountainVest Partners and Tiger Global Management

Technology-driven education services provider GSX Techedu has seen its share price more than triple this year, while shares of TAL Education Group, which runs several online learning platforms, are up more than 50%.

Yuanfudao, which says it has accumulated 400 million users and has 11 teaching and curriculum development centers across China, also counts IDG Capital, Warburg Pincus and Matrix Partners China among its backers.

By Yingzhi Yang and Kane Wu


Stocks mentioned in the article
ChangeLast1st jan.
CHINA ONLINE EDUCATION GROUP -5.76% 23.9 Delayed Quote.143.38%
GSX TECHEDU INC. 1.11% 69.05 Delayed Quote.215.87%
MATRIX HOLDINGS LIMITED 0.00% 2.92 End-of-day quote.-18.44%
ORANGE -1.31% 9.048 Real-time Quote.-31.04%
TAL EDUCATION GROUP -0.06% 66.52 Delayed Quote.38.01%
TENCENT HOLDINGS LIMITED 2.74% 601 End-of-day quote.60.01%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.01% 6.7074 Delayed Quote.-3.36%
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Financials
Sales 2020 479 B 71 224 M 71 224 M
Net income 2020 120 B 17 911 M 17 911 M
Net cash 2020 85 692 M 12 752 M 12 752 M
P/E ratio 2020 41,8x
Yield 2020 0,25%
Capitalization 4 964 B 738 B 739 B
EV / Sales 2020 10,2x
EV / Sales 2021 8,18x
Nbr of Employees 70 756
Free-Float 60,4%
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Technical analysis trends TENCENT HOLDINGS LIMITED
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Income Statement Evolution
Consensus
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Buy
Mean consensus BUY
Number of Analysts 48
Average target price 534,10 CNY
Last Close Price 521,81 CNY
Spread / Highest target 35,1%
Spread / Average Target 2,36%
Spread / Lowest Target -32,3%
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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