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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 - 10/21
566.5 HKD   +0.35%
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Judge says U.S. must defend or delay TikTok app store ban by Friday

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09/24/2020 | 10:51pm EDT
FILE PHOTO: Illustration picture of U.S. flag with TikTok

A U.S. judge said Thursday the Trump administration must either delay a ban on U.S. app stores offering TikTok for download or file legal papers defending the decision by Friday.

The U.S. Commerce Department order banning Apple Inc and Alphabet Inc's Google app stores from offering the short video sharing app for new downloads is set to take effect late Sunday. U.S. District Judge Carl Nichols said the government must file a response to a request by TikTok for a preliminary injunction or delay the order by 2:30 p.m. EDT Friday.

A federal judge in San Francisco on Saturday issued a preliminary injunction blocking a similar Commerce Department order from taking effect on Sunday on Tencent Holdings' WeChat app.

The Commerce Department said it plans to challenge the WeChat injunction, but government lawyers have not yet filed a appeal.

U.S. officials have expressed serious concerns that the personal data of as many as 100 million Americans that use TikTok was being passed on to China's Communist Party government.

On Saturday, the Commerce Department announced a one-week delay in the TikTok order, citing "recent positive developments" in talks over the fate of its U.S. operations.

TikTok said the restrictions "were not motivated by a genuine national security concern, but rather by political considerations relating to the upcoming general election."

TikTok's Chinese owner, ByteDance, said on Monday it will own 80% of TikTok Global, a newly created U.S. company that will own most of the app's operations worldwide. ByteDance added that TikTok Global will become its subsidiary.

Oracle Corp and Walmart Inc have agreed to take stakes in TikTok Global of 12.5% and 7.5%, respectively. On Monday, Oracle said ByteDance's ownership of TikTok would be distributed to ByteDance's investors, and that the Beijing-based firm would have no stake in TikTok Global.

By David Shepardson


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TENCENT HOLDINGS LIMITED 0.35% 566.5 End-of-day quote.50.83%
WALMART INC. 0.35% 144.4 Delayed Quote.21.51%
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Financials
Sales 2020 479 B 72 010 M 72 010 M
Net income 2020 120 B 18 082 M 18 082 M
Net cash 2020 80 241 M 12 071 M 12 071 M
P/E ratio 2020 39,0x
Yield 2020 0,27%
Capitalization 4 626 B 693 B 696 B
EV / Sales 2020 9,50x
EV / Sales 2021 7,63x
Nbr of Employees 70 756
Free-Float 60,4%
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Technical analysis trends TENCENT HOLDINGS LIMITED
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 48
Average target price 531,27 CNY
Last Close Price 486,24 CNY
Spread / Highest target 43,6%
Spread / Average Target 9,26%
Spread / Lowest Target -27,3%
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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