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

ALIBABA GROUP HOLDING (BABA)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Alibaba, Tencent to set up units in Xiongan New Area

share with twitter share with LinkedIn share with facebook
share via e-mail
0
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

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING -0.05% 187.25 Delayed Quote.8.59%
CHINA TELECOM CORPORATION LIMITED 0.84% 3.6 End-of-day quote.-3.74%
TENCENT HOLDINGS LTD 0.27% 376.6 End-of-day quote.-7.65%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ALIBABA GROUP HOLDING
07/21WPP in Talks with Alibaba, Tencent to Sell Stake in Chinese Unit
DJ
07/21Alibaba, Tencent in talks over stake in WPP's Chinese unit - Sky News
RE
07/20Microsoft shares at all-time high after bumper results
RE
07/20Microsoft shares at all-time high after bumper results
RE
07/20TECHNOGYM : Driving traffic to online
AQ
07/20ALIBABA : Knight Investment Limited – Alibaba Group Takes Stake in Focus M..
AQ
07/20Alibaba to buy stake in advertiser
AQ
07/20South Korea's Innisfree launches smart stores
AQ
07/20Alibaba to buy stake in advertiser
AQ
07/20Alibaba to buy stake in advertiser
AQ
More news
News from SeekingAlpha
07/21Alibaba, Tencent in talks for WPP China stake 
07/21VENTURE CAPITAL DEALS OF THE WEEK : SoftBank Circles $1B AI Investment 
07/20The 'Making Money While I Sleep' Portfolio - Introduction And July Purchases 
07/20Pinduoduo Readies Plans For Monster U.S. IPO 
07/20Alibaba Is Good, But This Company Is Even Better - And It's Not Amazon 
Financials (CNY)
Sales 2019 394 B
EBIT 2019 119 B
Net income 2019 71 111 M
Finance 2019 208 B
Yield 2019 -
P/E ratio 2019 46,88
P/E ratio 2020 32,44
EV / Sales 2019 7,71x
EV / Sales 2020 5,40x
Capitalization 3 246 B
Chart ALIBABA GROUP HOLDING
Duration : Period :
Alibaba Group Holding Technical Analysis Chart | BABA | US01609W1027 | 4-Traders
Technical analysis trends ALIBABA GROUP HOLDING
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 46
Average target price 1 523  CNY
Spread / Average Target 20%
EPS Revisions
Managers
NameTitle
Yong Zhang Chief Executive Officer & Director
John Michael Evans President & Director
Yun Ma Executive Chairman
Wei Wu Chief Financial Officer
Jian Feng Zhang Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
ALIBABA GROUP HOLDING8.59%479 813
JD.COM-14.27%52 898
EBAY-9.38%33 905
SHOPIFY INC (US)70.05%18 142
MERCADOLIBRE18.69%16 542
RAKUTEN INC-23.31%10 357