China-domiciled companies +0.76% versus +0.77% for Hong Kong-domiciled companies using the HS China Enterprise and HK 35 indexes as proxies. Ant Group takes the initiative to delist all Internet deposit products Ant Group takes the initiative to remove Internet deposit products, which are now ... Alibaba, Chengdu, Didi chuxing, DJI, Douyin, iQiyi, japan, Meituan Dianping, singapore, Tencent, Tencent Music, TikTok, Today Breadth was positive with 29 advancers and 20 decliners led by index heavyweights Tencent +4.52%/+136 index points, HK Exchanges +2.66%/+35 index points, and HSBC -1.56%/-33 index points. Merchant growth was also strong, with more using the platform, likely attracted by the burgeoning user base, up 16.2 per cent year on year to 5.9 million. One interesting aspect of Tencent’s purchase is that it came after SOGO had returned nearly 50% since its March low. The company is on a rapid growth trajectory, and also has a sticky natural market thanks to being backed by WeChat operator Tencent Holdings. Meituan, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. Tencent's main competitors include Agora, Facebook, Meituan-Dianping and Sea. Our suite of China focused ETFs provide investors with solutions to capture China's importance as an essential element of a well-designed investment portfolio. $10,000 In Free Money! While Meituan was backed by Tencent, its rival Alibaba had invested in Dianping. Founded in 2014, Swiggy has partnered with more than 50,000 restaurants across 50 cities in India. I hope the rumors aren’t true considering that the company’s long term prospects are very strong. Many investors will look at markets and decide that they missed the boat and stay on the sidelines. Though not included in the new acronym, Semiconductor Manufacturing (SMIC) rose +5.84%. In addition to Tencent Music, Tencent had also previously played a role in the consolidation of China's food-delivery industry, helping to form current powerhouse Meituan-Dianping. Tencent now owns 20.14% of Meituan as the largest shareholder. Meituan Dianping, one of the largest Chinese on-demand local services providers, is said to be raising around US$3 billion from investors including its long-time backer Tencent Holdings Ltd., IDG Capital and other investors, people with close information of the matter said. Ant Group takes the initiative to delist all Internet deposit products Ant Group takes the initiative to remove Internet deposit products, which are now ... Alibaba, Chengdu, Didi chuxing, DJI, Douyin, iQiyi, japan, Meituan Dianping, singapore, Tencent, Tencent Music, TikTok, Today The increases in volume led to a massive jump in gross profits to 4.66 billion yuan, surging about 40 per cent year on year. We strive to provide innovative, first to market strategies that have been developed based on our strong partnerships and our deep knowledge of investing. The Hang Seng opened higher, then eased lower, and ended the day with a rally into to close +0.69%/+169 index points at 24,772. Sep 11, 2019 – 2.23pm. You may opt-out by. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. The most well-known company in this category is 美团点评 (Meituan Dianping). Meituan’s large market cap could make it more of a target for Tencent, which hasn’t grown as fast. China’s Super App Meituan Dianping just turned profitable. On the Shenzhen Connect, Tencent and SMIC were sold by a very small margin while e-cigarette maker Smoore was bought by 20 to 1. Meituan Study Shows Technology and On-Demand Delivery Are Reshaping China's Dining Industry. Tencent currently own 20.1% of the company. The company is a China-based e-commerce "super" platform for "life services" – from food delivery to hotel bookings and even ride hailing. The company’s market cap is bigger than Baidu or JD.com’s now, for example. It’s now profitable for the first time in its history. With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has 2017-10-19. So with Tencent and Alibaba being market competitors, the merger inevitably created tensions between the two parties, which ultimately led to Alibaba selling most of its Meituan stocks in early 2016. Shares in Chinese “everything app” Meituan Dianping have fallen by more than 7 per cent this week as the expiry of a six-month lock-up period on a tranche of shares looms. Tencent Video and iQiyi are the two leading players in the video-streaming war in China, with Tencent most recently reporting 112 million subscribers and iQiyi … Technology and e-commerce China Concept H-shares plummeted today due to America's ban on WeChat's parent company Tencent (00700:HK).. President Trump announced on August 6 local US time that his government would prohibit any US individuals and companies from conducting any transactions with TikTok's parent company ByteDance, and any WeChat-related transactions with Tencent. A longstanding issue for SOGO has been its ineligibility to be included in MSCI indices because it did not meet the minimum market cap requirement. The 205 Chinese companies listed in Hong Kong and within the MSCI China All Shares Index rose +1.98% with communication +3.9%, tech +3.5%, discretionary +3.05%, staples +2.57%, health care +1.61%, utilities +1.34%, industrials +0.75%, real estate +0.43%, financials -0.13%, energy -0.56%, and materials -0.58%. Meituan (Chinese: 美团; pinyin: Mĕituán), formerly Meituan-Dianping, is a Chinese shopping platform for locally found consumer products and retail services including entertainment, dining, delivery, travel and other services. Tencent gives Meituan Dianping 'sticky' edge Greg Smith. Meituan Raises $4 Billion in New Fundraising Round. 2017-11-25. SHANGHAI, CHINA - AUGUST 02 (Photo by Visual China Group via Getty Images/Visual China Group via ... [+] Getty Images). Hong Kong had a strong day as Tencent played Atlas lifting the market, accounting for 136 of the 169 index points that the Hang Seng added today. A new useful acronym is “ATMX,” Hong Kong’s FAANG, which had a great day. Meituan and Tencent Further Strengthen Partnership Through Strategic Cooperation Between Ma. Details: Tencent reported on Wednesday net income during the fourth quarter of RMB 21.6 billion ($3.1 billion) on revenue of … The combined company is well positioned to become an impactful internet and entertainment platform in China. The founder is Wang Xing. Meituan Dianping <3690.HK> rose 5 percent on debut in Hong Kong on Thursday, valuing the Chinese online food delivery-to-ticketing services firm at … Europe has cleared the Pfizer-BioNTech vaccine; Morgan Stanley sees US infections reaching 27 million within six weeks; the US is contemplating a UK travel ban, amid fear of the new, more infectious strain. Sequoia Capital holds 11.44% of the company and Alibaba holds about 1.48% (74,352,299 shares). The transaction boost flowed from increased "user commitment", with the average number of transactions per user jumping to 25.5 times from 21.4 times a year ago. Hong Kong had a strong day as Tencent played Atlas lifting the market, accounting for 136 of the 169 index points that the Hang Seng added today. Recent IPOs JD.com HK gained +2.79% and NetEase HK +2.09%. Interests associated with Fat Prophets declare a holding in Meituan Dianping. Meituan counts some 400 million users of its food delivery and other services in China. Tencent's main competitors include Agora, Facebook, Meituan-Dianping and Sea. Does a transition pension make sense for me? Half of that sum has been allocated to the purchase of materials crucial to stopping the virus, including masks. The Company connects consumers and businesses to provide services satisfying people's daily eating needs. Opinions expressed by Forbes Contributors are their own. Tech, which is comprised of semiconductors, hardware, and software, had a strong day in Hong Kong, Taiwan and Mainland China following positive expectations for Apple’s earnings release, which is expected on Thursday. With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has Chinese app Meituan-Dianping claims to help create 20m job opportunities. Foolish conclusion. Krane Funds Advisors, LLC is majority owned by China International Capital Corporation (CICC). AIIB has 102 country members though the US and Japan are conspicuously absent. UGC User generated content. I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). Meituan Dianping has had great growth due to relentless innovation and spending. Order volumes on the platform surged 28.7 per cent to 159.2 billion yuan. In addition to Tencent Music, Tencent had also previously played a role in the consolidation of China's food-delivery industry, helping to form current powerhouse Meituan-Dianping. China Market Update: Tale Of Two Chinas As Mainland And Hong Kong Markets Diverge, Dow Falls 200 Points As New Covid Strain Puts Damper On Stimulus, The Stock Market Could Crash If Covid Is Over Next Year, Finding Value In The Stock Market In 2021, This 9.6%-Yielding ETF Portfolio Is Poison, Yield on 1-Day Government Bond 1.32% versus 1.32% yesterday, Yield on 10-Year Government Bond 2.92% versus 2.88% yesterday, Yield on 10-Year China Development Bank Bond 3.39% versus 3.35% yesterday. © 2020 Forbes Media LLC. Attorney General William Barr used his final public appearance to undercut President Donald Trump on multiple fronts. Update: Meituan Dianping Announced A US$4 billion Financing Round on October 19, 2017. The Wuhan coronavirus has hurt some parts of Tencent’s … Meituan to Announce Third Quarter 2020 Financial Results on November 30, 2020 November 30 2020; Meituan Dianping to Announce Second Quarter 2020 Financial Results on August 21, 2020 August 21 2020; Meituan Dianping to Announce First Quarter 2020 Financial Results on May 25, 2020 May 13 2020; Meituan Dianping to Announce Fourth Quarter and Full Year 2019 Financial Results on March 30 2020 … Mainland China had a strong day as Kweichow Moutai rose +2.92% as the company reported earnings after the close. But what makes a … Meituan generates revenues from a mix of commissions, online marketing and value-adding via its role as a marketplace for the services sector. Volume leaders on the Shanghai Connect were Tencent, which was bought by 5 to 1, SMIC, which was sold slightly, and Xiaomi, which was sold by 2 to 1. It merged with Dianping in 2015 and acquired the bike-sharing app Mobike in 2018. Tencent-backed Meituan Dianping raises US$4.2b in IPO It sold about 480m primary shares at HK$69 (S$12), valuing the company at around US$52.8 billion Fri, Sep 14, 2018 - 5:50 AM And that’s considered good? Shanghai & Shenzhen diverged in a choppy session up +0.11% and down -0.65% to close at 3,371 and 2,300 respectively. Alibaba and Tencent remain in a different league, valuation-wise, … Meituan Dianping recently published its interim performance report for 2020, stating that during the second quarter of 2020, the company's operating revenue reached CNY24.72 billion, a year-on-year increase of 8.9%; its profit for the period was CNY2.21 billion, a year-on-year increase of 152.4%; and its net profit after adjustment was CNY2.718 billion, a year-on-year increase of 82%. I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). Meituan, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. Today, Tencent’s investments in JD.com, Meituan Dianping, and Pinduoduo are worth $68.5 billion. Online to offline. The merger also brought two of China’s top investors together. Meituan-Dianping's main competitors include Dada Nexus, Foursquare, Ele.me, Tencent, Baidu, Yelp and Groupon. This should raise loyalty across the merchant base while improving volume and margins. The irony is that, at the present market cap, it may have qualified for inclusion. Shares in Hong Kong-listed Chinese "lifestyle" platform Meituan Dianping have hit the highest level since last year’s initial public offering, after posting a maiden profit in its recent quarterly earnings release. HONG KONG — Meituan, a group buying service backed by Alibaba, said Thursday that it would join forces with Dianping, a consumer review website backed by Tencent… Embedding Sogou’s search in the WeChat ecosystem makes a great deal of sense. Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. A new useful acronym is “ATMX,” Hong Kong’s FAANG, which had a great day. While Meituan was backed by Tencent, its rival Alibaba had invested in Dianping. The investees themselves have gained about $33.7 billion in value, the biggest contributor being Tencent's 20%-plus stake in Meituan-Dianping, the … Meituan-Dianping, backed by Chinese technology giant Tencent, has accrued 400 million users. Tencent, Hillhouse Capital and Wellington Management also participated in the funding. Meituan-Dianping’s investments in Swiggy follow this trend. Meituan was created after Meituan and Dianping, two competitors in the group deals space, merged in 2015 ... Alibaba was one of Meituan’s investors, while Tencent backed Dianping. All Rights Reserved, This is a BETA experience. Listed on the HKEX on September 20, 2018, the company's major shareholders include Wang Xing and Mu Rongjun. However, the good people at Microsoft can tell you all about how challenging it is to overtake an established rival in search. Like yesterday, foreign investors net sold Shanghai stocks and bought Shenzhen stocks. In addition to contributing to Forbes, I am often interviewed on and quoted in Bloomberg, CNBC and The Wall Street Journal on matters surrounding Chinese markets. Domestic travel is coming online while, obviously, international travel is going to come back online at a far slower pace. Overall, group total gross profit more than doubled (+179.5 per cent) to 7.94 billion yuan. Northbound Stock Connect volumes were off their recent hyper levels but remained well above the 1-year average. Tencent-backed Meituan Dianping raises US$4.2b in IPO It sold about 480m primary shares at HK$69 (S$12), valuing the company at around US$52.8 billion Fri, Sep 14, 2018 - 5:50 AM The company is on a rapid growth … For a free trial of Fat Prophets' daily market commentary please click here. President Xi gave the keynote at the annual meeting of the Asian Infrastructure Investment Bank (AIIB), which supports the Belt & Road Initiative. Foreign investors sold -$318mm worth of Mainland stocks today as Northbound Stock Connect trading accounted for 6% of Mainland turnover. Meituan generates revenues from a mix of commissions, online marketing and value-adding via its role as a marketplace for the services sector. As a pioneer within the ETF industry I experienced the surge. Tencent sold 1.5 to 1 and Meituan Dianping bought 2 to 1. But what makes a … No one else has the transaction data or the ability to boost a company’s distribution the way that Tencent does with WeChat. Clearly, management believes the fundamentals are stronger than the market does. As a pioneer within the ETF industry I experienced the surge in popularity of ETFs firsthand, helping an industry-leading global ETF provider grow AUM from a few million to over $1.5 trillion. Beyond that, Tencent’s cloud division has offered cloud computing solutions … Meituan was created after Meituan and Dianping, two competitors in the group deals space, merged in 2015 ... Alibaba was one of Meituan’s investors, while Tencent backed Dianping. The Dianping-Meituan marriage also serves as a warning shot from Alibaba and Tencent to China’s top search engine, Baidu, which recently vowed … Rivals that have direct and indirect competition with Meituan-Dianping include Alibaba, Tencent, Beyond Meat and Yelp. Tencent currently own 20.1% of the company. Southbound Stock Connect volumes returned to earth as Mainland investors were net buyers of Hong Kong stocks. The company is headquartered in Beijing and was founded in 2010 by Wang Xing.The company operates different apps and websites for different services. To combat the outbreak, Tencent has committed 300 million yuan in aid. Compare Meituan-Dianping to its competitors … No one else has the transaction data or the ability to boost a company’s distribution the way that Tencent does with WeChat. This has helped drive robust growth in user numbers and transaction volumes, winning market share in the lucrative online services industry – estimated to be worth about $US$1.3 trillion ($1.9 trillion). Australian shares are poised to drop at the open, following 'rational' selling in Europe, and the US, as investors assess the impact of a new virus strain in the UK. Management is focusing on growing the company’s bread-and-butter business – to improve scale by attracting more merchants and restaurateurs by implementing a more efficient back-end system. Dominant search provider Baidu (BIDU US) was off -2.66% on the news. Volume fell -2.8% following a decline of -30% yesterday but remained above the 1-year average by healthy amount. Tencent. The 509 Chinese companies listed on the Mainland and within the MSCI China All Shares Index gained +1.06% with staples +3.07%, communication +1.13%, tech +1.1%, discretionary +1.02%, industrials +1%, materials +0.79%, real estate +0.76%, utilities +0.42%, energy +0.39%, health care +0.37%, and financials +0.14%. I suppose the results prove why alcohol stocks are considered a staple. The Wall Street Journal published an article heralding the strong performance of Chinese hedge funds relative to their global peers. Meituan to Announce Third Quarter 2020 Financial Results on November 30, 2020 November 30 2020; Meituan Dianping to Announce Second Quarter 2020 Financial Results on August 21, 2020 August 21 2020; Meituan Dianping to Announce First Quarter 2020 Financial Results on May 25, 2020 May 13 2020; Meituan Dianping to Announce Fourth Quarter and Full Year 2019 Financial Results on March … Just in the top five are the CEOs of food delivery company Meituan Dianping, Tencent and Alibaba, the owner of the South China Morning Post. China’s big tech companies Tencent Holdings Ltd , Meituan Dianping, and Baidu Inc (NASDAQ: BIDU) have also joined in the fight. We help investors stay up to date on global market trends and aim to provide meaningful diversification. Revenues in the second quarter surged 50.6 per cent year on year to 22.7 billion yuan after substantial gains in the user base which rose 18.4 per cent year on year to 422.6 million. The travel and hotel bookings division was no slouch either, reporting 42.8 per cent growth year on year to 5.25 billion yuan, with the boost in user base also attracting more merchants. Strong demand for steel and news of a landslide on Friday at a Vale mine in Brazil fuelled another record high reset for the price of the steel-making material. A-Share Update. Meituan (Chinese: 美团; pinyin: Mĕituán), formerly Meituan-Dianping, is a Chinese shopping platform for locally found consumer products and retail services including entertainment, dining, delivery, travel and other services. I am the CIO of KraneShares, a China-focused ETF provider. Chinese social media giant Tencent Holdings Ltd., which already owns about a fifth of Meituan, plans to buy about $400 million of stock in the IPO as … Meituan-Dianping, founded in April, 2007 and headquartered in Beijing, is a life service e-commerce platform in China. Help using this website - Accessibility statement, Barr undercuts Trump on Hunter Biden inquiry, ASX to drop as UK virus triggers global sell-off, Iron ore leaps 7.3pc to more than $US176 a tonne, Brits rush to supermarkets as supplies dwindle, How to tap into home equity without losing the roof over your head. Tencent also raised its stake in Century Huatong, an auto parts company. Indian food delivery startup Swiggy has announced a $1 billion round led by Naspers, with participation from DST Global, Coatue Management and Meituan Dianping. If we charged 2 & 20, I’d be on the beach already! Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. It is also setting up a mapping unit which is synergistic, with its fleet of delivery personnel collecting data as they make deliveries. Meituan also reported its maiden operating profit at 1.11 billion yuan, a significant improvement from the 2.85 billion yuan loss last time. Mid and small caps outperformed small caps. Follow developments here. Meituan and Dianping used to be separate companies and rivals in the food-delivery and daily-deals spaces, but the two merged in 2015, helped along by an injection of capital from Tencent… ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. The Company owns an instant food ordering and delivery brand, Meituan, as well as provides services through its mobile application, Meituan. Ironically, Meituan, Tencent, Enlight Media and Weying will continue to an... Tencent ’ s -24 %, but was just above the 1-year average true considering that the 's. The investment manager for KraneShares ETFs gross profit more than doubled ( per..., international travel is going to come back online at a far slower pace great.! 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