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    700   KYG875721634

TENCENT HOLDINGS LIMITED

(700)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 01/21
474.8 HKD   +0.68%
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China steps up pressure on tech with draft online ad rules

11/26/2021 | 03:50am EST

SHANGHAI, Nov 26 (Reuters) - China's market regulator proposed new rules on Friday that would increase online advertising oversight, including stipulating that adverts should not affect normal internet use or mislead users.

Authorities in China have tightened regulation across a range of industries this year, with an emphasis on technology.

Search giant Baidu Inc and game publisher Tencent Holdings warned during recent quarterly results that the short-term outlook for advertising sales looked weak, impacted by the pandemic and China's regulatory crackdown.

Internet advertising must "meet the requirements for the establishment of socialist spiritual civilization and the promotion of excellent traditional culture of the Chinese nation", the State Administration for Market Regulation said.

The proposed rules call on platform operators to establish a system for registering and reviewing advertisers and adverts, and "monitor and inspect the content of advertisements displayed and published by using its information services."

The proposed rules also call for bans on advertisements aimed at minors promoting medical treatments, cosmetics and online games "that are not conducive to the physical and mental health of minors."

The proposed new rules are open for public comment until Dec. 25, the regulator said on its website.

Shares in Hong Kong-listed Tencent and delivery giant Meituan fell 0.5% and 1% respectively after the draft rules were published.

In September, China's cyberspace regulator published draft rules dictating how companies can use algorithmic recommendations, after earlier rules pertaining to the use of data and unfair competition.

Before that, Chinese ride-hailing giant Didi Chuxing fell subject to a probe for alleged privacy violations days after it listed in the United States, while e-commerce giant Alibaba Group Holding Ltd received a record $2.8 billion fine for anti-competitive behaviour. (Reporting by Brenda Goh and Josh Horwitz in Shanghai; Editing by Kim Coghill and Alexander Smith)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
MEITUAN 0.00% 238 End-of-day quote.5.59%
TENCENT HOLDINGS LIMITED 0.68% 474.8 End-of-day quote.3.94%
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Analyst Recommendations on TENCENT HOLDINGS LIMITED
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Financials
Sales 2021 567 B 89 410 M 89 410 M
Net income 2021 159 B 25 129 M 25 129 M
Net cash 2021 138 B 21 712 M 21 712 M
P/E ratio 2021 29,2x
Yield 2021 0,35%
Capitalization 4 526 B 581 B 714 B
EV / Sales 2021 7,74x
EV / Sales 2022 6,53x
Nbr of Employees 107 348
Free-Float 62,5%
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Technical analysis trends TENCENT HOLDINGS LIMITED
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Mean consensus BUY
Number of Analysts 50
Last Close Price 474,80 CNY
Average target price 500,20 CNY
Spread / Average Target 5,35%
EPS Revisions
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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