Log in
E-mail
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

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

TENCENT HOLDINGS LIMITED

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

Tencent : India retains ban on 59 Chinese apps, including TikTok

01/26/2021 | 06:07am EDT
A 3d printed Tik Tok logo is seen in front of a displayed Indian flag and a

NEW DELHI (Reuters) - India has decided to retain its ban on video app TikTok and 58 other Chinese apps after reviewing responses from the companies on issues such as compliance and privacy, two sources with direct knowledge of the matter told Reuters on Tuesday.

When it first imposed the ban in June, India's ministry of electronics and information technology (IT) gave the 59 apps a chance to explain their position on issues including whether they censored content, worked on behalf of foreign governments or lobbied influencers.

The companies, which include ByteDance's popular video-sharing app TikTok, Tencent Holdings' WeChat and Alibaba's UC Browser, were asked in July to respond to 77 questions amid rising tensions between India and China following a border clash between the two nations.

A government panel looking into the app ban decided, after reviewing the responses, that there will be no change in the country's position for now as the ban was in the interest of India's national security and sovereignty, one source said.

The government has sent notices to the companies informing them of its decision, the source said.

It was not immediately clear until when the ban would be in place. The Times of India newspaper reported late on Monday that the ban is permanent.

India's IT ministry did not immediately respond to a request for comment.

TikTok said in a statement it is evaluating the notice and will respond to it.

"We continually strive to comply with local laws and regulations and do our best to address any concerns the government may have. Ensuring the privacy and security of all our users remains to be our topmost priority," it said.

UC Web declined to comment.

The extension of the ban comes days after Indian and Chinese troops were involved in a "minor face-off" in a disputed stretch of their shared border in the eastern Himalayas.

The ministry's June order stated that the apps were "prejudicial to sovereignty and integrity of India, defence of India, security of state and public order". It followed a skirmish with Chinese troops at a disputed Himalayan border site when 20 Indian soldiers were killed.

In September, India banned another 118 mobile apps, including Tencent's popular videogame PUBG, as it stepped up the pressure on Chinese technology companies following the standoff at the border.

The 118 apps continue to be banned and no decision has been reached on them as yet.

(Reporting by Sankalp Phartiyal in New Delhi; additional reporting by Kanishka Singh in Bengaluru and Josh Horwitz in Shanghai; Editing by Sonya Hepinstall)

By Sankalp Phartiyal


© Reuters 2021
All news about TENCENT HOLDINGS LIMITED
08:30aChina's Tech Giants Vow, in Unison, to Play by Regulator's Rules
DJ
01:02aChina shares rise as some IT firms pledge against anti competition; Hang Seng..
RE
04/13JD.com, Baidu Pledge to Comply With Chinese Regulator's Antitrust Order
DJ
04/13MARKET CHATTER : ByteDance Expands Video Game Presence With Unit's C4games Acqui..
MT
04/13TENCENT  : ByteDance's gaming unit Nuverse acquires C4games
RE
04/13TENCENT  : Chinese Internet firms pledge to avoid anti-competitive behaviors
RE
04/13MARKET CHATTER : China Warns Tencent, JD.com, Other Tech Giants to Learn From Al..
MT
04/13'Fortnite' maker Epic Games gets $28.7 billion valuation in latest funding
RE
04/13WEEKLY PORTFOLIOS REPORT  : Risk appetite persists
04/13China Orders 34 Tech Companies to Rectify Anticompetitive Practices
DJ
More news
Financials
Sales 2021 592 B 90 664 M 90 664 M
Net income 2021 148 B 22 718 M 22 718 M
Net cash 2021 123 B 18 869 M 18 869 M
P/E ratio 2021 41,1x
Yield 2021 0,27%
Capitalization 5 938 B 764 B 909 B
EV / Sales 2021 9,82x
EV / Sales 2022 8,07x
Nbr of Employees 85 858
Free-Float 60,2%
Chart TENCENT HOLDINGS LIMITED
Duration : Period :
Tencent Holdings Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TENCENT HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 54
Average target price 648,17 CNY
Last Close Price 623,50 CNY
Spread / Highest target 39,6%
Spread / Average Target 3,96%
Spread / Lowest Target -31,4%
EPS Revisions
Managers and Directors
NameTitle
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
Yu Xin Ren COO & President-Interactive Entertainment Group
Sector and Competitors
1st jan.Capitalization (M$)
TENCENT HOLDINGS LIMITED10.55%744 853
NETFLIX, INC.2.40%245 244
PROSUS N.V.6.53%181 164
UBER TECHNOLOGIES, INC.18.90%112 845
AIRBNB, INC.21.22%106 634
NASPERS LIMITED16.07%100 483