by bondevalue | May 27, 2021 | China, Investment Grade Bonds
Chinese regulators have now put their focus on tech major Tencent, ordering them to set up a financial holding company following a similar move by the regulators towards Alibaba’s Ant Group, as per Caixin. The move is to put the Pony Ma-led company’s...
by bondevalue | May 21, 2021 | China, Investment Grade Bonds
Chinese tech major Tencent beat estimates after it reported a rise of 65% in Q1 profits buoyed by a growth in its gaming and fintech units. The company reported a profit of CNY 47.8bn ($7.4bn), ~40% higher than expectations. Revenues rose 25% to CNY 135bn ($21bn). The...
by bondevalue | Apr 16, 2021 | China, Investment Grade Bonds
Tencent raised $4.15bn via a four-part offering, details of which are in the table: The bonds have expected ratings of A1/A+/A+, in-line with the issuer and received orders over $20bn, ~5x issue size. Bloomberg had initially reported that Tencent might hold-off their...
by bondevalue | Apr 14, 2021 | China
In a meeting organized jointly by Chinese Cyberspace and tax authorities, the regulators warned 34 big technology companies that it would be tightening scrutiny and advised them to follow the country’s regulations and rectify their anti-competitive practices...
by bondevalue | Mar 25, 2021 | China, Investment Grade Bonds
Tencent reported Q4 profits of $9.1bn, up over 2.75x YoY from $3.3bn in the same quarter in 2019 and 80% above analyst estimates. Total revenues rose 26% to $25bn from ~$16bn YoY in Q4. The profits were largely due to fair-value gains in companies Tencent has invested...
