Log in
E-mail
Password
Show 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
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. Tencent Holdings Limited
  6. News
  7. Summary
    700   KYG875721634

TENCENT HOLDINGS LIMITED

(700)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Tencent : China approves country's second personal credit agency, JD.com, Xiaomi take stakes

12/04/2020 | 06:16am EDT
FILE PHOTO: People wearing protective face masks visit Xiaomi brand's store in Kyiv

BEIJING (Reuters) - China's central bank on Friday granted approval for the set up of a personal credit agency to be jointly held by an investment arm of the Beijing government, subsidiaries of e-commerce giant JD.com and Xiaomi Corp, and facial recognition start-up Megvii Technology.

The agency, named the Pudao Credit Rating Co Ltd, will be registered with 1 billion yuan ($153.19 million) in Beijing, a statement from the People's Bank of China (PBOC) said.

The agency will become the second personal credit agency licensed by the PBOC.

In recent years, the central bank has been trying to link loan data among different online lending platforms and share credit information to prevent over-borrowing and fraud. In 2018, it launched Baihang Credit, Chi­na's first licensed personal credit agency with nine parties co-invested, including credit rating units of Ant Group and Tencent Holdings.

The PBOC is also pushing micro-lenders that source clients from e-commerce platforms to share credit information with the central bank in a move to strengthen supervision on such loans amid fears of rising defaults and deteriorating asset quality. Beijing Financial Holdings Group, owned and controlled by the Beijing municipal government, will take a majority stake of 35% in Pudao Credit, with JD Digits taking 25% and Beijing Xiaomi Technology Co and Megvii Technology each taking 17.5% respectively, according to the statement.

The remaining 5% will be held by a private equity firm.

($1 = 6.5280 Chinese yuan renminbi)

(Reporting by Cheng Leng, Zhang Yan and Ryan Woo; Editing by Raju Gopalakrishnan)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
TENCENT HOLDINGS LIMITED -0.88% 505 End-of-day quote.-10.46%
XIAOMI CORPORATION -0.22% 22.55 End-of-day quote.-32.08%
All news about TENCENT HOLDINGS LIMITED
04:24aProperty sector weighs on China stocks; lira rallies
RE
12:10aTENCENT : Backed Yuanfudao Denies Shift to Selling Jackets From Online Education
MT
10/25China's Software Industry Logs 10.7% Profit Growth in January-September Period
MT
10/24TENCENT : Fixes Glitch That Allowed Bing, Google Searches of WeChat Contents
MT
10/22Asian ADRs Flat in Friday Trading
MT
10/22FANTASIA : Analysis-Investors denied their Ever-grande finale...for now
RE
10/22Tencent says 'loophole' allowed WeChat searches on Google, Bing
RE
10/22TENCENT : WeChat Starts Displaying Content on Google, Bing
MT
10/21TENCENT : Backed Property Agency Beike Trims Staff as Off-Peak Season Nears
MT
10/21China’s Internet Regulator Suggests Hong Kong Listing For Didi, Two Others
MT
More news
Analyst Recommendations on TENCENT HOLDINGS LIMITED
More recommendations
Financials
Sales 2021 577 B 90 360 M 90 360 M
Net income 2021 150 B 23 448 M 23 448 M
Net cash 2021 148 B 23 233 M 23 233 M
P/E ratio 2021 26,8x
Yield 2021 0,38%
Capitalization 3 951 B 619 B 619 B
EV / Sales 2021 6,59x
EV / Sales 2022 5,42x
Nbr of Employees 94 182
Free-Float 62,4%
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
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 52
Last Close Price 414,82 CNY
Average target price 530,61 CNY
Spread / Average Target 27,9%
EPS Revisions
Managers and Directors
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
Yu Xin Ren COO & President-Interactive Entertainment Group
Sector and Competitors
1st jan.Capi. (M$)
TENCENT HOLDINGS LIMITED-10.46%618 723
NETFLIX, INC.24.21%297 513
PROSUS N.V.-13.26%282 187
AIRBNB, INC.15.29%104 834
UBER TECHNOLOGIES, INC.-10.35%89 455
DOORDASH, INC.51.54%73 106