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On December 31, 2021, the State Administration for Market Re...

On December 31, 2021, the State Administration for Market Regulation issued multiple administrative penalty announcements. This includes: imposing administrative penalties on Tencent Holdings Limited and Henan Harmony Auto Trading Co., Ltd. for establishing a joint venture without legally declaring the illegal concentration of operators, with Tencent and Harmony Auto each receiving a fine of 0.5 million yuan. Administrative penalties were imposed on Hangzhou Alibaba Entrepreneurship Investment Co., Ltd., Zhengzhou Xunjie Trading Co., Ltd., and Guiyang Radio and Television Media Group Co., Ltd. for the acquisition of equity of Guizhou Panyaxintong Network Technology Co., Ltd. without legally declaring the illegal concentration of operators, with Alibaba Venture Capital, Zhengzhou Xunjie, and Guiyang Radio and Television each receiving a fine of 0.5 million yuan. Administrative penalties were also imposed on Bilibili Co., Ltd. for the acquisition of VERSA Inc.'s equity without legally declaring the illegal concentration of operators.
$TENCENT (00700.HK)$ $Tencent (TCEHY.US)$
$JD.com (JD.US)$ $JD-SW (09618.HK)$
$Alibaba (BABA.US)$ $BABA-W (09988.HK)$
$Bilibili (BILI.US)$ $BILIBILI-W (09626.HK)$
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