腾讯的跳水事件发生了什么？

原标题：爆裂！ 腾讯股价尾盘暴跌，一小时内暴跌2700亿，情况如何？ 外围爆发了重大新闻，许多互联网巨头都被罚款。 谁在打市场？

概括

[WhathappenedtoTencent’slatedive?AccordingtopeoplefamiliarwiththematterTencentmaybethenextfinancialregulatorytargetOtherregulatorssaidthatthelatestmeasurestorestrictfinancialtechnologycompaniesarenotaimedatspecificcompaniesbutarefocusedoncreatingastableenvironmentforthedevelopmentofprivateenterprises(BrokerChina)

Tencent unexpectedly dived in late trading!

The last trading day of the week, the worldmarketChange again. First, the external US stock futures index plunged, and then the Hong Kong stock market plummeted. As of the close,Hang Seng IndexIt closed down 2.2% to 28,739.72 points, down 1.23% weekly.the InternetTechnology stocks, mining stocks, and financial stocks were among the top decliners. The Hang Seng Technology Index fell 2.13%, down 2.06% weekly. among them,Tencent HoldingsSuddenly in the endKill, Arouse market attention.

So, what caused itTencent HoldingsSuddenly fell?Except todayMarket SupervisionThe General Administration suddenly took action and made administrative punishment decisions in accordance with the law on ten cases of illegal implementation of operator concentration in the Internet field, involving Tencent,BaiduMany well-knownenterpriseIn addition, a piece of news came from the external market, namelyTencent HoldingsMay become the next target of financial supervision.

Watch the report!

　　Tencent evaporates HK$270 billion in late trading

Starting after 3 p.m. Beijing time, Tencent Holdings suddenly fell, with the largest drop of nearly 5% in the day, and a sharp drop of 4.41% at the close. Starting from the 678.5 Hong Kong dollars before the dive, Tencent evaporated about 270 billion Hong Kong dollars in one hour in late trading.

Looking at the overall situation, Tencent Holdings is undoubtedly dragging the market downMain force. In addition to him,JingdongDown nearly 5%, Meituan fell more than 3%, but Xiaomi bucked the trend and closed up 4.12%;Non-ferrous metalsStocks, food and beverage stocks have the largest decline, semiconductor stocks,BlockchainStocks, sporting goods stocks,InsuranceStocks, oil stocks, and telecommunications stocks further expanded their losses in late trading; but power stocks remained strong throughout the day.Uchibo crotchAnd property stocks rose against the trend. The market has rebounded continuously recently, but it has been hit again this time, showing that market sentiment is still fragile.

Analysts believe that if you look for the reasons in the market, the main reason for the decline in market and technology stocks comes from the United States. The 10-year U.S. Treasury yield exceeded 1.6%, and the U.S. NasdaqfuturesOnce again, the three major indexes dived across the board. At the same time, European stock markets opened poorly.

　　what’s happening?

In fact, the reason why Tencent dived in late trading may also be due to the news. Today, there are many news concerning Tencent Holdings.

Among them, the State Administration for Market Regulation said on Friday that it had made administrative punishment decisions on 10 cases of illegal implementation of operator concentration in the Internet sector, including Tencent Holdings’ acquisition of Yuanjiao’s equity,BaiduThe case of controlling shares in Xiaoyu Group and the establishment of a joint venture between Shanghai Oriental Press and Beijing Quantum Jump Technology, and imposing 500,000 yuan on each of the 12 companies involvedRenminbifine.

Tencent later responded that it has received the notice and attached great importance to it, and will actively rectify matters such as failure to declare in time, and complete relevant compliance declarations in strict accordance with the requirements of the regulatory authorities.jobs。

According to Bloomberg News, the symbolic fine may be just the beginning. According to people familiar with the matter, Tencent may be the next financial regulatory target.Another regulator said that restricting financial technologythe companyThe latest measures are not targeted at specific companies, but focused on providing privateEnterprise DevelopmentCreate a stable environment.

Tencent’s financial technology business generated approximately RMB 84 billion (US$13 billion) in revenue in 2019, accounting for 22% of total revenue, making it the largest revenue driver after online entertainment, which is approximately Ant’s annual revenue. 70% of it.

Tencent said in an email statement: “We will continue to adapt to changes in the regulatory environment, which we believe is good for the industry and will seek to ensure full compliance.”

　　Is Tencent stable?

Actually, fromResearch reportIt can be seen that many research institutions have recently raised Tencent’s target price. Among them, the highest has reached 864 Hong Kong dollars, which is close to 30% of the target.

　　CITIC SecuritiesIt is believed that, looking forward to 2021, online games and online games as Tencent’s core businessadvertisingAnd other consumer Internet businessPerformanceVisibility is still outstanding, and financial and cloud computing businesses will gradually open upindustryInternet space. From a long-term perspective, driven by the video account, WeChat videoization continues to advance, superimposing the linkage of small programs and enterprise WeChat, and the video account will open up the growth space for WeChat in e-commerce, payment and advertising business. Continue to be optimistic about the company’s growth prospects in the digital wave. Based on SOTP valuation, Tencent’s reasonable valuation range is 6.5-7 trillion yuan, and the company’s target price is raised to 820 Hong Kong dollars, and the company’s “buy” rating is maintained.

　　Soochow SecuritiesIt said that on the one hand, the video account is expected to stabilize and rebound Tencent’s user time ratio, on the other hand, it will inject new growth momentum into different businesses. It is expected that Tencent will achieve revenue of 4857/6119/7433 billion yuan in 2020-2022. RMB, respectivelyYear-on-yearIncreased by 28.7%/26.0%/21.5%, realizing return to the motherNet profit1258/1590/1951 billion RMB, a year-on-year increase of 34.8%/26.4%/22.8%, corresponding to 41.3/32.7/26.6 times of PE respectively. Calculated based on the 35 times valuation in 2022, corresponding to the target price of 847 Hong Kong dollars per share (HKD/RMB=0.84). Maintain the company’s “Buy” rating.

Judging from the response to US sanctions and regulations in recent years, Tencent has more outstanding experience in responding to regulations. And there are precedents before, so Tencent should be relatively calm in this process. Of course, this is also a special period, after all, the external market is not calm, so there is also the possibility of killing the valuation. In the medium and long term, Tencent may still be a subject worthy of attention.

(Article Source:BrokerageChina)

(Editor in charge: DF075)