|Bid||25.50 x 1200|
|Ask||0.00 x 2200|
|Day's Range||24.84 - 25.76|
|52 Week Range||9.22 - 29.01|
|Beta (5Y Monthly)||1.19|
|PE Ratio (TTM)||78.15|
|Earnings Date||Aug 11, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||23.70|
(Bloomberg) -- Chinese search engine giant Baidu Inc. has secured approval from the Hong Kong stock exchange for a second listing in the city, according to people familiar with the matter.Nasdaq-listed Baidu plans to launch its share sale as soon as next week, the people said, asking not to be identified as the information is private. The offering could raise at least $3.5 billion, Bloomberg News has reported.A representative for the company declined to comment. Shares in Baidu fell 6.2% in the U.S. on Thursday amid a selloff in technology stocks.Baidu follows online car-sales website Autohome Inc. in seeking a trading foothold in the Asian financial hub this year, after a wave of such share sales in 2020 which saw some $17 billion raised. Other companies looking at selling shares in the city include Tencent Music Entertainment Group and video companyA wave of U.S.-listed Chinese firms have been listing in Hong Kong since Alibaba Group Holding Ltd. kicked off the trend in late 2019. Deteriorating relations between the world’s two biggest economies have risked threatening Chinese companies’ access to America’s capital markets. The second listings also enable the companies to expand their investor bases closer to their home markets.Read more: Baidu’s Back With an $80 Billion Rally and Electric Car AmbitionOnce one of China’s big three tech leaders alongside Alibaba and Tencent Holdings Ltd., Baidu is now playing catch-up as the country’s internet users increasingly shift from desktop to mobile. It began years ago to sink billions of dollars into areas from language learning to voice interaction and autonomous driving, betting on smart devices and vehicles of the future. But that endeavor ran into trouble in the initial stages, capped by the departures of several pivotal executives.Now, aided by steady investment in R&D and Beijing’s focus on developing smart nationwide infrastructure, commercialization cases are finally coming to the fore: in January, the company announced it’s teaming up with Zhejiang Geely Holding Group to produce smart electric vehicles. The tie-up is intended to help Baidu deploy its Apollo self-driving tech in more vehicles, a person familiar with the matter has said.(Adds Baidu’s shares in third 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.
Tencent Music Entertainment Group ("Tencent Music", "TME", or the "Company") (NYSE: TME), the leading online music entertainment platform in China, today announced that it will report its unaudited financial results for the fourth quarter and full year of 2020 after the U.S. market closes on Monday, March 22, 2021.
(Bloomberg) -- Weibo Corp., China’s largest micro-blogging service, is planning a second listing in Hong Kong as soon as this year, people familiar with the matter said, joining a growing cohort of U.S.-traded Chinese firms in seeking a trading foothold in the financial hub.The Asian nation’s answer to Twitter Inc. is working with advisers on the potential share sale, the people said, asking not to be identified as the information is private.Weibo’s American depositary receipts closed 0.2% lower on Thursday after declining as much as 2.3%. They have still climbed about 37% in the past year, giving the company a market value of $13.3 billion.Deliberations are at an early stage and details of the share sale including size and timing could still change, the people said. A representative for Weibo was not immediately able to comment.A wave of Hong Kong share sales by U.S.-listed Chinese firms, kicked off by Alibaba Group Holding Ltd.’s second listing in late 2019, continues to grow. E-commerce giant JD.com Inc. and online gaming firm NetEase Inc. are among the companies that raised some $17 billion in 2020, data compiled by Bloomberg show. The listings act as a hedge against the risk of being kicked off U.S. exchanges as well as giving the companies a broader investor base closer to their home markets.Other companies planning so-called homecoming listings this year include music-streaming service Tencent Music Entertainment Group, search engine giant Baidu Inc. and online car-trading platform Autohome Inc. The listings will add to what is shaping up to be a bumper year for stock offerings in Hong Kong after short-video company Kuaishou Technology’s wildly successful $6.2 billion IPO earlier this month.Internet pioneer Sina Corp. launched Weibo in 2009, swiftly amassing millions of registered users posting messages of 140 characters or less, and was listed on the Nasdaq in a 2014 IPO. Whereas Twitter is blocked in China, Weibo and other social media in the country are subject to state censorship.Weibo, which is backed by Alibaba, reported 511 million monthly active users in the third quarter. It faces competition for eyeballs and advertising revenue from fast-growing short-video platforms from ByteDance Ltd. and Kuaishou.(Updates to add U.S. trading in third 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.