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    700   KYG875721634

TENCENT HOLDINGS LIMITED

(700)
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Delayed Hong Kong Stock Exchange  -  04:08 2022-10-06 am EDT
277.80 HKD   -0.43%
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China regulator says Alibaba, Tencent have submitted app algorithm details

08/12/2022 | 06:19am EDT
FILE PHOTO: Logo of Alibaba Group is seen at its office building in Beijing, China

SHANGHAI (Reuters) - China's top internet watchdog said on Friday tech giants such as Tencent Holdings and Alibaba Group have submitted details of algorithms used in some of their products, complying with a drive by authorities to tighten oversight of platform algorithms.

The rules are part of a broad regulatory crackdown by Beijing against its once free-wheeling technology sector. State media had accused internet platforms of using algorithms to invade user privacy and influencing their choices.

The Cyberspace Administration of China (CAC) published a list of 30 algorithms used in some of the country's most popular apps, including Alibaba's Taobao,Tencent's Wechat,Meituan and ByteDance's Douyin, with brief descriptions of their use and gave them classification numbers.

It was the first list it published since China in March passed new regulations for algorithm recommendation services and launched a filing system requiring firms to companies to disclose they used in their apps.

The CAC's list, for instance, said the Taobao app had logged with it a recommendation algorithm that crunched each user's visit and search history to recommend them products and services, while Meituan had provided details of the algorithm it used to estimate delivery times and match riders.

Other companies on the list included Chinese online search giant Baidu, short video platform Kuaishou and microblogging site Sina's Weibo.

(Reporting by Josh Ye and Brenda Goh; editing by David Evans)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -0.08% 84.32 Delayed Quote.-28.96%
BAIDU, INC. -0.81% 122.1 Delayed Quote.-14.87%
KUAISHOU TECHNOLOGY -0.53% 55.95 Delayed Quote.-22.35%
MEITUAN INC. 1.26% 177.1 Delayed Quote.-21.43%
TENCENT HOLDINGS LIMITED -0.43% 277.8 Delayed Quote.-38.92%
WEIBO CORPORATION -1.01% 137 Delayed Quote.-43.29%
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Analyst Recommendations on TENCENT HOLDINGS LIMITED
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Financials
Sales 2022 568 B 79 793 M 79 793 M
Net income 2022 101 B 14 174 M 14 174 M
Net cash 2022 76 897 M 10 809 M 10 809 M
P/E ratio 2022 23,7x
Yield 2022 0,40%
Capitalization 2 372 B 333 B 333 B
EV / Sales 2022 4,04x
EV / Sales 2023 3,41x
Nbr of Employees 110 715
Free-Float 63,2%
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Mean consensus BUY
Number of Analysts 55
Last Close Price 251,76 CNY
Average target price 382,05 CNY
Spread / Average Target 51,8%
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Managers and Directors
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau Chief Strategy & Investment Officer
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
Yu Xin Ren COO & President-Interactive Entertainment Group
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