Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Alibaba Group Holding    BABA

Delayed Quote. Delayed  - 10/18 05:12:18 pm
178 USD   +1.53%
10/17 U.S. exchanges set for highest number of Asian IPOs since 2010
10/16 ALIBABA : Chinese internet giant Alibaba looks to scoop up global ta..
10/13 ALIBABA : Quotable
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Alibaba, Tencent to set up in Xiongan New Area

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/06/2017 | 06:13am CEST

Chinese corporate behemoths Alibaba Group Holding Ltd, Tencent Holdings Ltd and Baidu Inc will set up branches in China's Xiongan New Area.

They are among the first group of 48 companies that have been approved to set up in the new economic area. The move is part of the government's endeavor to expedite the construction of the area in Hebei province.

The new area was announced earlier this year. The project aims to relieve the pressure of population on Beijing and build another economic powerhouse along the lines of those built near Shenzhen and Shanghai.

Alibaba announced on Sept 29 that it will set up three subsidiaries in Xiongan with a total registered capital of 160 million yuan ($24 million; 20 million euros; £18 million).

Ren Geng, general manager responsible for Alibaba's business in Xiongan, says: "We will cooperate with the Xiongan New Area mainly in artificial intelligence, fintech and intelligent logistics to add a smart 'brain' to Xiongan to help it function in a well-rounded way." According to the administrative committee of Xiongan, among the 48 enterprises in the first group to set up in the area, 14 will focus on information technology, 15 on financial services and seven on high-end technology.

Xiongan will be built as an eco-friendly smart city. Four key business segments - environmental protection, traffic sensors, large data analysis and artificial intelligence - are to be its driving forces.

Internet-based business player Tencent also set up a subsidiary on Sept 26 in the new area with a registered capital of 20 million yuan, according to Tianyancha, an enterprise data query system.

The affiliate, in which Shenzhen-based Tencent holds a 90 percent stake, will provide such services as software and hardware design, data processing and storage.

"As the first group of internet-based companies entering the Xiongan New Area, Tencent will help promote its development with our rich experience in smart city, smart transportation and the internet of things," says a Tencent executive.

Half of the first group of 48 companies are from Beijing, while 13 are based in Shenzhen. Additionally, 19 companies are central SOEs, while 21 are private enterprises.

Among the private companies are Jingdong Finance, 360 Qihoo, Shenzhen Kuang-Chi, China Telecom and People's Insurance Co of China.

He Wei contributed to this story.

Contact the writers at [email protected]

(China Daily European Weekly10/06/2017 page26)

(c) 2017 China Daily Information Company. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ALIBABA GROUP HOLDING
10/17 U.S. exchanges set for highest number of Asian IPOs since 2010
10/16 ALIBABA : Chinese internet giant Alibaba looks to scoop up global talent in $15 ..
10/16 ALIBABA : E-commerce alleviates poverty
10/16 ALIBABA : related executives cast doubt over Hurun Rich List
10/14 ALIBABA : STMicroelectronics Combines Unique Development Ecosystem with Alibaba ..
10/13 Quotable
10/13 ALIBABA : Quotable
10/13 Aliyun release cloud platform with AI firm to target voice technology
10/12 ALIBABA : Pac-12 & Alibaba Group Expand First-of-a-Kind Partnership to Bring Col..
10/12 JACK MA : Evergrande property magnate seizes top spot on China rich list
More news
News from SeekingAlpha
10/17 ALIBABA : Impact Of New Government Policies On Investors
10/17 Why I Bought Corbion In Order To Continue Investing In The Technology Of Terr..
10/16 ALIBABA VS. AMAZON : Cloud Wars
10/14 Stocks to watch next week
10/13 APPLIED OPTOELECTRONICS : Just A Bump In The Road
Financials ( CNY)
Sales 2018 235 B
EBIT 2018 92 854 M
Net income 2018 59 817 M
Finance 2018 148 B
Yield 2018 -
P/E ratio 2018 51,44
P/E ratio 2019 36,23
EV / Sales 2018 12,0x
EV / Sales 2019 8,64x
Capitalization 2 973 B
Chart ALIBABA GROUP HOLDING
Duration : Period :
Alibaba Group Holding Technical Analysis Chart | BABA | US01609W1027 | 4-Traders
Technical analysis trends ALIBABA GROUP HOLDING
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 48
Average target price 1 291  CNY
Spread / Average Target 11%
EPS Revisions
Managers
NameTitle
Yong Zhang Chief Executive Officer & Director
John Michael Evans President & Director
Yun Ma Executive Chairman
Wei Wu Chief Financial Officer
Jian Feng Zhang Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
ALIBABA GROUP HOLDING104.49%449 525
JD.COM52.20%56 612
EBAY29.17%40 126
RAKUTEN INC9.38%16 011
MERCADOLIBRE56.85%10 368
SHOPIFY INC (US)119.78%9 482