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<Research Report>Jefferies: Good Days Over for CN Financial Platform Co.; Ant, Tencent May Need to Form FHCs
Following a meeting with Ant Group, Chinese financial watchdog summoned 13 key online platform firms specializing in financial business, including TENCENT (00700.HK), for superviso...
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<Research Report>Jefferies: Good Days Over for CN Financial Platform Co.; Ant, Tencent May Need to Form FHCs
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Following a meeting with Ant Group, Chinese financial watchdog summoned 13 key online platform firms specializing in financial business, including TENCENT (00700.HK)  -6.200 (-1.454%)    Short selling $1.67B; Ratio 18.971%   , for supervisory meetings.

Good days for China's fintech platform sector were over, bringing an end to the rapid growth in the last six months.

The broker expected Ant Group, TENCENT and other firms concerned will have to establish financial holding companies (FHCs).
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-12-23 16:25.)

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