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

TENCENT HOLDINGS LIMITED

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Tencent : China to tighten supervision of country's booming online insurance business

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09/28/2020 | 05:30am EDT
FILE PHOTO: A man walks past an office building of CIRC in Beijing

China's banking and insurance regulator issued draft rules on Monday to rein in risks accumulated in country's booming online insurance sector. The rules, on which the regulator is seeking public feedback till Oct. 28, will ban unlicensed institutions and individuals from participating the online insurance businesses, including selling and offering consultancy services of insurance products, according to a statement released by the China Banking and Insurance Regulatory Commission (CBIRC).

The rules will also require Internet companies to obtain insurance licenses before involving in the business, according to the draft."The fast development in the online insurance sector has exposed certain problems," the CBIRC said, "The rules are to effectively defuse the risks and protect the interest of consumers."

The CBIRC said in a Sept. 3 article that thriving online mutual-aid platforms selling healthcare insurance need to be brought under specific regulations.

Xianghubao, operated by fintech giant Ant Group, and Shuidihuzhu of Tencent Holdings are the dominant online mutual-aid platforms selling healthcare insurance.

(Reporting by Cheng Leng, Zhang Yan and Ryan Woo; Editing by Toby Chopra)


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Financials
Sales 2020 479 B 71 604 M 71 604 M
Net income 2020 120 B 18 025 M 18 025 M
Net cash 2020 85 854 M 12 844 M 12 844 M
P/E ratio 2020 45,1x
Yield 2020 0,23%
Capitalization 5 361 B 692 B 802 B
EV / Sales 2020 11,0x
EV / Sales 2021 8,86x
Nbr of Employees 70 756
Free-Float 60,4%
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Mean consensus BUY
Number of Analysts 48
Average target price 534,02 CNY
Last Close Price 563,50 CNY
Spread / Highest target 23,9%
Spread / Average Target -5,23%
Spread / Lowest Target -37,3%
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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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