Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

Delayed Quote. Delayed  - 10/17 10:00:09 pm
175.32 USD   -2.36%
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
News SummaryMost relevantAll newsSector newsTweets

Alibaba, Tencent to set up units in Xiongan New Area

share with twitter share with LinkedIn share with facebook
share via e-mail
10/02/2017 | 10:50am 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 batch of 48 companies that have been approved to be set up in this new economic area. The move is part of the government's endeavor to expedite the construction of the Xiongan New 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 Friday it will set up three subsidiaries in Xiongan with a total registered capital of 160 million yuan ($24 million).

Ren Geng, general manager responsible for Alibaba's business in Xiongan, said: "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 batch to be 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 on Tuesday also set up a subsidiary 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 services like software and hardware design, data processing and storage.

"As the first group of internet-based firms 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," said a Tencent executive.

Half of the first group of 48 companies are from Beijing while 13 are Shenzhen-based. And 19 firms are central SOEs while 21 are private firms.

In all, 21 are private firms. Among them are Jingdong Finance, 360 Qihoo, Shenzhen Kuang-Chi, China Telecom, People's Insurance Company of China and the State Development & Investment Corporation.

He Wei contributed to the story.

Contact the writers at [email protected]

(China Daily USA10/02/2017 page15)

(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
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 $15 ..
10/16 ALIBABA : related executives cast doubt over Hurun Rich List
10/16 ALIBABA : E-commerce alleviates poverty
10/14 ALIBABA : STMicroelectronics Combines Unique Development Ecosystem with Alibaba ..
10/13 Quotable
10/13 ALIBABA : Quotable
10/13 Aliyun release cloud platform with AI firm to target voice technology
10/12 ALIBABA : Pac-12 & Alibaba Group Expand First-of-a-Kind Partnership to Bring Col..
10/12 JACK MA : Evergrande property magnate seizes top spot on China rich list
More news
News from SeekingAlpha
10/17 ALIBABA : Impact Of New Government Policies On Investors
10/17 Why I Bought Corbion In Order To Continue Investing In The Technology Of Terr..
10/16 ALIBABA VS. AMAZON : Cloud Wars
10/14 Stocks to watch next week
Financials ( CNY)
Sales 2018 235 B
EBIT 2018 92 854 M
Net income 2018 59 817 M
Finance 2018 148 B
Yield 2018 -
P/E ratio 2018 51,44
P/E ratio 2019 36,23
EV / Sales 2018 12,0x
EV / Sales 2019 8,64x
Capitalization 2 973 B
Duration : Period :
Alibaba Group Holding Technical Analysis Chart | BABA | US01609W1027 | 4-Traders
Technical analysis trends ALIBABA GROUP HOLDING
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 48
Average target price 1 291  CNY
Spread / Average Target 11%
EPS Revisions
Yong Zhang Chief Executive Officer & Director
John Michael Evans President & Director
Yun Ma Executive Chairman
Wei Wu Chief Financial Officer
Jian Feng Zhang Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
JD.COM52.20%56 556
EBAY29.17%40 426
RAKUTEN INC9.38%16 066
MERCADOLIBRE56.85%10 289
SHOPIFY INC (US)119.78%9 558