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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Visual China Group Co.,Ltd.    000681   CNE000000BW8

VISUAL CHINA GROUP CO.,LTD.

(000681)
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Visual China Group, Imaginechina suspend websites after Chinese regulator finds violations

12/10/2019 | 03:45am EST

Chinese image providers Visual China Group and Imaginechina have temporarily suspended their website services after the country's internet regulator said they had committed violations and ordered them to make rectifications.

The Cyberspace Administration of China said on its website that the two companies had engaged in Internet news information services without obtaining the correct licences, and collaborated with international news services without conducting security assessments.

It did not provide more details on the violations but said that heads of the two websites were called into meetings with authorities from Tianjin, Beijing, Jiangsu and Shanghai where they were told to stop those activities.

A statement posted on the website of Visual China, China's largest stock images provider which is sometimes likened to U.S. photo agency Getty Images, said that it had suspended services to carry out "self-rectification" at the request of the authorities.

Imaginechina's website carried a similar statement. ByteDance, the owner of popular short video apps TikTok and Douyin, invested in Imaginechina in 2016. ByteDance did not immediately respond to a request for comment.

Political control of the internet has tightened under President Xi Jinping, with demands that companies tighten oversight of "harmful information" which could range from vulgar to politically sensitive content.

Visual China also temporarily shut its website in April to make changes after it was criticised online and by regulators for selling images which it did not hold the ownership rights to, such as China's national emblems including its flag.

By Brenda Goh


© Reuters 2019
Stocks mentioned in the article
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AT HOME GROUP INC. 4.78% 18.85 Delayed Quote.242.73%
JUST GROUP PLC -3.57% 58 Delayed Quote.-26.58%
VISUAL CHINA GROUP CO.,LTD. 0.00% 16.08 End-of-day quote.-6.73%
WILL GROUP, INC. 1.02% 990 End-of-day quote.-20.93%
All news about VISUAL CHINA GROUP CO.,LTD.
2019Visual China Group, Imaginechina suspend websites after Chinese regulator fin..
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2019Furore over 'black hole' photo forces China's largest image provider to shut
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2016Visual China expands photo archive, to invest $100 million in Getty Images
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2016Visual China buys Corbis Entertainment
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2016VISUAL CHINA : Affiliate of Visual China Group Acquires Assets of Corbis Images
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Financials
Sales 2020 728 M 111 M 111 M
Net income 2020 231 M 35,1 M 35,1 M
Net Debt 2020 - - -
P/E ratio 2020 48,7x
Yield 2020 0,22%
Capitalization 11 265 M 1 713 M 1 713 M
Capi. / Sales 2020 15,5x
Capi. / Sales 2021 11,9x
Nbr of Employees 521
Free-Float 46,4%
Chart VISUAL CHINA GROUP CO.,LTD.
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Visual China Group Co.,Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends VISUAL CHINA GROUP CO.,LTD.
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Average target price 20,13 CNY
Last Close Price 16,08 CNY
Spread / Highest target 25,9%
Spread / Average Target 25,2%
Spread / Lowest Target 24,4%
EPS Revisions
Managers
NameTitle
Jun Liang President & Director
Jie Liao Chairman
Ji Jun Chai Director & Vice President
Hua Su Member-Supervisory Board
Si Yuan Wu Vice Chairman
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