|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||89.75 - 90.77|
|52 Week Range||40.80 - 99.40|
|Beta (5Y Monthly)||0.55|
|PE Ratio (TTM)||66.35|
|Forward Dividend & Yield||0.15 (0.17%)|
|Ex-Dividend Date||May 14, 2020|
|1y Target Est||N/A|
China fined on Wednesday five community group-buying platforms owned and backed by the likes of Meituan, Pinduoduo, Tencent Holdings , Alibaba Group and Didi Chuxing, citing "improper pricing behaviour". The State Administration of Market Supervision said it had decided to fine the registered firms behind Didi-owned Chengxin Youxuan, Pinduoduo's Duo Duo Maicai, Meituan Select, and Nicetuan 1.5 million yuan ($230,000) each, and that of Shixianghui 500,000 yuan.
(Bloomberg) -- Sea Ltd. expects e-commerce revenue to double in 2021, sustaining its torrid pace of growth as Southeast Asia’s most valuable company counts on regional online shopping demand to persist after the pandemic.Revenue rose to $1.6 billion in the last three months of 2020 from $777.2 million a year earlier, Singapore-based Sea said Tuesday in a statement. Net loss widened to $523.6 million from $283.8 million.Sea, backed by Tencent Holdings Ltd., has emerged as a stock-market sensation since its initial public offering in New York in 2017, as investors bet the company can establish itself as a leader in e-commerce and gaming in Southeast Asia. Among companies valued at $100 billion or more, the stock is the No. 1 performer in Asia since the start of last year and only trails Tesla Inc. globally.It’s also trying to establish fintech as a third growth driver. Sea said Tuesday it’s acquired Composite Capital Management, a Hong Kong-licensed global investment management firm. The company will deploy $1 billion toward Sea Capital, a newly established platform to manage its overall investments. Composite Capital founder David Ma -- a former partner at Chinese private equity giant Hillhouse -- becomes Sea Capital’s chief investment officer, reporting to Sea Chief Executive Officer Forrest Li.“Sea’s growth prospects remain promising, riding on the growing digital economy in the region,” Citigroup analysts led by Alicia Yap wrote. “Guidance could prove conservative.”Read more: Asia’s Best-Performing Stock Gets to Justify 400% SurgeKey InsightsThe pandemic is helping to spur demand at Sea’s e-commerce business Shopee, with fourth-quarter sales increasing 178% to $842.2 million. Sea forecast 2021 revenue at Shopee of $4.5 billion to $4.7 billion, up from $2.2 billion in 2020.Hit mobile game Free Fire is fueling growth at Sea’s digital entertainment service Garena, whose sales last quarter rose 71.6% to $693.4 million. Sea forecast Garena’s annual bookings -- sales plus changes in deferred revenue -- will increase to $4.3 billion to $4.5 billion in 2021.Its e-wallet service gained traction, with payment volume exceeding $2.9 billion for the quarter and $7.8 billion for the full year. Sea is trying to build financial services into its third growth pillar.Get MoreSea Ltd 4Q Adjusted Ebitda Misses EstimatesFourth-quarter sales and marketing expenses climbed 95% to $665.2 million, led by digital financial services.For 2020, Sea posted total digital entertainment bookings of $3.2 billion.Annual revenue at Garena rose 77.5% to $2 billion.Market ReactionSea’s American depositary receipts ended mostly unchanged after surging as much as 11% Tuesday.(Updates with fund’s chief and analyst’s comment from the fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
One of the hottest games of 2020 is part of an acquisition announced Tuesday in the video game sector. What Happened: Epic Games, which is 40% owned by Tencent Holdings ADR (OTC: TCEHY), reported it is acquiring Tonic Games Group. The acquisition gives Epic Games ownership of the developer of “Fall Guys: Ultimate Knockout.” Epic Games assured fans that gameplay would not be changing. The company will “continue to invest in making the game a great experience for players across platforms.” Features like account systems, cross-play and squad versus squad were listed by the company. Related Link: Fall Guys Going Mobile In China Thanks To Bilibili Why It’s Important: The “Fall Guys: Ultimate Knockout” game is exclusive to PC and Playstation 4 and Playstation 5 from Sony Corp (NYSE: SNE). The game is set to be released for the Nintendo Switch and Xbox consoles from Nintendo Co, Ltd. (OTC: NTDOY) and Microsoft Corporation (NASDAQ: MSFT) respectively later this summer. Epic Games said it was not moving “Fall Guys: Ultimate Knockout” to a free-to-play model at this time. The company did not rule out making the move in the future. “Rocket League” developer Psyonix was acquired by Epic Games in 2019. The game was changed to a free-to-play model from its $19.99 purchase price after the acquisition. “Fall Guys: Ultimate Knockout” was the most successful launch on PC since “Overwatch” in 2016. In its debut month in August 2020, the game grossed $185 million from 8.2 million copies sold and in-game currency on the PC, according to The Gamer. “Fall Guys: Ultimate Knockout” uses the Unity game engine from Unity Software (NYSE: U), which is a rival to the Unreal platform from Epic Games. Epic Games raised $1.78 billion at a $17.3 billion valuation in August. The funding round included a $250 million investment from Sony. Tencent paid $330 million for its 40% stake in 2013, which was worth nearly $7 billion in August. Price Action: Shares of Tencent are down 1.52% to $89.91 at the close of market Tuesday. (Photo: Fall Guys Wiki via Wiki Commons) See more from BenzingaClick here for options trades from BenzingaJack Ma Loses Title Of China's Richest Man, Now Ranks Fourth After Ant Group Fallout© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.