Indian food delivery startup Swiggy has announced a $1 billion round led by Naspers, with participation from DST Global, Coatue Management and Meituan Dianping. 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. Meituan Dianping has had great growth due to relentless innovation and spending. Meituan, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. Meituan’s large market cap could make it more of a target for Tencent, which hasn’t grown as fast. Tencent gives Meituan Dianping 'sticky' edge Greg Smith. 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 … Meituan-Dianping filed for an IPO on the Hong Kong Stock Exchange, seeking over US$4 billion in funds and aiming for a US$45-55 billion valuation. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. No one else has the transaction data or the ability to boost a company’s distribution the way that Tencent does with WeChat. The merger also brought two of China’s top investors together. Save. 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. 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. Meituan-Dianping, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. 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%. 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. So far, this is only a rumor but we’ve seen several examples of good companies scooped up at low valuations such as SOGO and Tencent buying online auto sales company BITA earlier this year. Meituan Dianping, the Chinese restaurant review and delivery giant, has started gauging investor demand for a planned Hong Kong initial public offering, people with … Today, Tencent’s investments in JD.com, Meituan Dianping, and Pinduoduo are worth $68.5 billion. This will continue to be an advantage - in just three years, there are over 1 million WeChat Mini Programs. The company is on a rapid growth trajectory, and also has a sticky natural market thanks to being backed by WeChat operator Tencent Holdings. 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… Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. 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. A strong performance in mini programs shows it will continue to compete with Alibaba and Meituan on digital lifestyle services. SHANGHAI, CHINA - AUGUST 02 (Photo by Visual China Group via Getty Images/Visual China Group via ... [+] Getty Images). Meituan Raises $4 Billion in New Fundraising Round. Turnover at the new initiatives segment jumped 85.1 per cent year on year to 4.61 billion yuan as revenues scaled up, along with the grocery/food distribution business, micro loan and Meituan Instashopping. I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). No one else has the transaction data or the ability to boost a company’s distribution the way that Tencent does with WeChat. The founder is Wang Xing. The article cited the Eurekahedge Greater China Long/Short Equities Hedge Index returned 8% YTD. 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. Shanghai and Shenzhen bounced around the room to close +0.71% and +1.37% at 3,227 and 2,173, respectively. 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. Follow updates here. 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. We help investors stay up to date on global market trends and aim to provide meaningful diversification. Opinions expressed by Forbes Contributors are their own. Mainland investors bought $442mm of Hong Kong stocks today as Southbound Connect trading accounted for 9% of Hong Kong turnover. Embedding Sogou’s search in the WeChat ecosystem makes a great deal of sense. 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. I am the CIO of KraneShares, a China-focused ETF provider. 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. There was broker chatter that Trip.com (formerly Ctrip.com) could be taken private. Rivals that have direct and indirect competition with Meituan-Dianping include Alibaba, Tencent, Beyond Meat and Yelp. Refers to the trench in the early 2010s of startups offering on demand services like food delivery, massages, manicures, laundry and more from your smartphone. Northbound Stock Connect volumes were off their recent hyper levels but remained well above the 1-year average. The company is on a rapid growth … Dominant search provider Baidu (BIDU US) was off -2.66% on the news. As a pioneer within the ETF industry I experienced the surge. One interesting aspect of Tencent’s purchase is that it came after SOGO had returned nearly 50% since its March low. 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. Volume leaders on the Shanghai Connect were Kweichow Moutai, which was bought by a small margin, Ping An, which was sold 10 to 9, and China Tourism, which was sold by just under 2 to 1. 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. 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 Krane Funds Advisors, LLC is the investment manager for KraneShares ETFs. The Company owns an instant food ordering and delivery brand, Meituan, as well as provides services through its mobile application, Meituan. Tencent, already an investor in Hike, Ola, and Flipkart, is now looking to spend up to $15 million on early-stage Indian startups. Compare Tencent to its competitors by revenue, employee growth and other metrics at Craft. Though not included in the new acronym, Semiconductor Manufacturing (SMIC) rose +5.84%. Sequoia Capital holds 11.44% of the company and Alibaba holds about 1.48% (74,352,299 shares). Ironically, Meituan actually counts Tencent as a shareholder. Breadth was positive with 2,417 advancers and 1,181 decliners. China to Test Digital Yuan on Tencent-Backed Food Delivery Platform China wants to trial its digital yuan using online food seller Meituan-Dianping, as well as another two Tencent-backed companies. China to Test Digital Yuan on Tencent-Backed Food Delivery Platform China wants to trial its digital yuan using online food seller Meituan-Dianping, as well as another two Tencent-backed companies. Volume fell -2.8% following a decline of -30% yesterday but remained above the 1-year average by healthy amount. This should raise loyalty across the merchant base while improving volume and margins. 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). 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 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. 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 Meituan generates revenues from a mix of commissions, online marketing and value-adding via its role as a marketplace for the services sector. 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. Volume declined another -10% after yesterday’s -24%, but was just above the 1-year average. The combined company is well positioned to become an impactful internet and entertainment platform in China. Tencent, which recently became the largest social media stock globally, was lifted on news of its plan to purchase US-listed search engine Sogou (SOGO US). The Wuhan coronavirus has hurt some parts of Tencent’s … Each have been affected by the coronavirus and are now helping defeat it. We strive to provide innovative, first to market strategies that have been developed based on our strong partnerships and our deep knowledge of investing. 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 Here’s how. MEITUAN DIANPING is a China-based e-commerce platform providing life services. Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. A year after its IPO, the 9-year-old company finally arrived at the inflection point investors have pined for. Over the longer term, management plans to model Meituan into a "super app" akin to Tencent’s WeChat but with a slant towards a more affluent demographic. A new useful acronym is “ATMX,” Hong Kong’s FAANG, which had a great day. Increased scale resulted in the unit making a profit for the first time, at 421.09 million yuan and a gross margin of 9.1 per cent. 2017-11-25. But what makes a … 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 … China-domiciled companies +0.76% versus +0.77% for Hong Kong-domiciled companies using the HS China Enterprise and HK 35 indexes as proxies. Tencent's main competitors include Agora, Facebook, Meituan-Dianping and Sea. Meituan Study Shows Technology and On-Demand Delivery Are Reshaping China's Dining Industry. Many investors will look at markets and decide that they missed the boat and stay on the sidelines. For a free trial of Fat Prophets' daily market commentary please click here. 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. Meituan-Dianping's main competitors include Dada Nexus, Foursquare, Ele.me, Tencent, Baidu, Yelp and Groupon. It is also setting up a mapping unit which is synergistic, with its fleet of delivery personnel collecting data as they make deliveries. 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. 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. China’s central bank is planning to test its digital currency on platforms operated by Meituan Dianping, enlisting the food delivery giant backed by Tencent Holdings Ltd. in … Though not included in the new acronym, Semiconductor Manufacturing (SMIC) rose +5.84%. Beyond that, Tencent’s cloud division has offered cloud computing solutions … Southbound Stock Connect volumes returned to earth as Mainland investors were net buyers of Hong Kong stocks. Sep 11, 2019 – 2.23pm. Meituan counts some 400 million users of its food delivery and other services in China. 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Domestic travel is coming online while, obviously, international travel is going to come back online at a far slower pace. 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. Half of that sum has been allocated to the purchase of materials crucial to stopping the virus, including masks. Recent IPOs JD.com HK gained +2.79% and NetEase HK +2.09%. 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. 2017-10-19. Asian equities had a strong day led by growth stocks following vaccine hopes and US dollar weakness. 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. I hope the rumors aren’t true considering that the company’s long term prospects are very strong. China’s big tech companies Tencent Holdings Ltd , Meituan Dianping, and Baidu Inc (NASDAQ: BIDU) have also joined in the fight. I suppose the results prove why alcohol stocks are considered a staple. While Meituan was backed by Tencent, its rival Alibaba had invested in Dianping. It merged with Dianping in 2015 and acquired the bike-sharing app Mobike in 2018. 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… Volume leaders on the Shenzhen Connect were Wuliangye Yibin, which was bought by 11 to 10, Luxshare, which was bought by 2 to 1, and East Money Information, which was bought by 9 to 8. The company’s market cap is bigger than Baidu or JD.com’s now, for example. You may opt-out by. 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 … 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. Tencent now owns 20.14% of Meituan as the largest shareholder. Meituan also reported its maiden operating profit at 1.11 billion yuan, a significant improvement from the 2.85 billion yuan loss last time. 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%. Attorney General William Barr used his final public appearance to undercut President Donald Trump on multiple fronts. About a month after Meituan, China’s largest on-demand app, introduced a new live-streaming toolkit for private educational institutions, it has moved to reach an even bigger audience by launching a mini-program on Tencent Holdings’ ubiquitous app WeChat. Backed by WeChat-operator Tencent Holdings, Meituan is spending heavily to wage a pitched battle with Alibaba’s Ele.me and Fliggy in a cutthroat arena for on-demand services. 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 … Does a transition pension make sense for me? With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). Mid and small caps outperformed small caps. The irony is that, at the present market cap, it may have qualified for inclusion. A new useful acronym is “ATMX,” Hong Kong’s FAANG, which had a great day. Follow developments here. Krane Funds Advisors, LLC is majority owned by China International Capital Corporation (CICC). Mainland investors bought $498mm worth of Hong Kong stocks today as Southbound Connect trading accounted for 10% of Hong Kong turnover. Update: Meituan Dianping Announced A US$4 billion Financing Round on October 19, 2017. Tencent currently own 20.1% of the company. 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%. Tencent. I can’t predict the future, but it is worth noting that Tencent has not flinched after a tremendous rally since March. The Wall Street Journal published an article heralding the strong performance of Chinese hedge funds relative to their global peers. Listed on the HKEX on September 20, 2018, the company's major shareholders include Wang Xing and Mu Rongjun. A-Share Update. While Meituan was backed by Tencent, its rival Alibaba had invested in Dianping. Meituan and Tencent Further Strengthen Partnership Through Strategic Cooperation Between Ma. 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. 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 … UGC User generated content. Meituan has scaled down its loss-making bike-rental business to focus on a core strength – grocery deliveries via its Maicai business. If we charged 2 & 20, I’d be on the beach already! Food delivery revenues, which account for 56.6 per cent of turnover, surged 44.2 per cent year on year, to 12.844 billion yuan, helped also by a hot summer. It’s now profitable for the first time in its history. Interests associated with Fat Prophets declare a holding in Meituan Dianping. Details: Tencent reported on Wednesday net income during the fourth quarter of RMB 21.6 billion ($3.1 billion) on revenue of … China’s Super App Meituan Dianping just turned profitable. For the 1st half of 2020, revenues rose +11% year over year to CNY 43.95B ($6.277B) and net income rose +13% to CNY 22.6B ($3.228B). Meituan-Dianping, backed by Chinese technology giant Tencent, has accrued 400 million users. The most well-known company in this category is 美团点评 (Meituan Dianping). The company is headquartered in Beijing and was founded in 2010 by Wang Xing.The company operates different apps and websites for different services. 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. Alibaba and Tencent remain in a different league, valuation-wise, … Mainland China had a strong day as Kweichow Moutai rose +2.92% as the company reported earnings after the close. Tencent, which recently became the largest social media stock globally, was lifted on news of its plan to purchase US-listed search engine Sogou (SOGO US). The increasing scale of the company’s fleet, customer and merchant base led to gross margins improving by 6.5 points year on year, or 22.3 per cent, and gross profits more than doubling to 2.86 billion yuan. Yesterday, Chinese search engine Sogou Inc. (SOGO US) jumped +48% to $8.51 after Tencent offered to buy the remainder of the company for $9 a share. Meituan-Dianping’s investments in Swiggy follow this trend. Greg Smith is head of research at investment research and funds management house Fat Prophets. 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. 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. $10,000 In Free Money! 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. Tencent sold 1.5 to 1 and Meituan Dianping bought 2 to 1. It is worth noting that India is, in fact, a member and would greatly benefit from putting China’s infrastructure know-how to work. EY & Citi On The Importance Of Resilience And Innovation, How Digital Workflows Helped Save Basketball During The Pandemic, Impact 50: Investors Seeking Profit — And Pushing For Change, Michigan Economic Development Corporation With Forbes Insights, Aurora James Is Helping Companies Invest In Accountability With The ‘15 Percent Pledge’, Here's How High The Stock Market Will Go In 2021, According To Wall Street's Experts. Founded in 2014, Swiggy has partnered with more than 50,000 restaurants across 50 cities in India. Meituan generates revenues from a mix of commissions, online marketing and value-adding via its role as a marketplace for the services sector. Tencent currently own 20.1% of the company. 2017-07-10. Foolish conclusion. 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. © 2020 Forbes Media LLC. Like yesterday, foreign investors net sold Shanghai stocks and bought Shenzhen stocks. Chinese app Meituan-Dianping claims to help create 20m job opportunities. With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has 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. The Dianping-Meituan marriage also serves as a warning shot from Alibaba and Tencent to China’s top search engine, Baidu, which recently vowed … 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. The company is headquartered in Beijing and was founded in 2010 by Wang Xing.The company operates different apps and websites for different services. Shanghai & Shenzhen diverged in a choppy session up +0.11% and down -0.65% to close at 3,371 and 2,300 respectively. Compare Meituan-Dianping to its competitors … President Xi gave the keynote at the annual meeting of the Asian Infrastructure Investment Bank (AIIB), which supports the Belt & Road Initiative. Leveraging my experience working in capital markets, voracious appetite for global financial news and a touch of humor, I aim to provide readers with an informative daily roundup of key headlines and data from China’s financial markets. Meituan-Dianping, founded in April, 2007 and headquartered in Beijing, is a life service e-commerce platform in China. Foreign investors sold -$318mm worth of Mainland stocks today as Northbound Stock Connect trading accounted for 6% of Mainland turnover. The company is a China-based e-commerce "super" platform for "life services" – from food delivery to hotel bookings and even ride hailing. The investees themselves have gained about $33.7 billion in value, the biggest contributor being Tencent's 20%-plus stake in Meituan-Dianping, the … 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, hoping to … Meituan, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. 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. Today’s worst performer was CK Asset -2.11%/-6 index points. Meituan-Dianping filed for an IPO on the Hong Kong Stock Exchange, seeking over US$4 billion in funds and aiming for a US$45-55 billion valuation. 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. Today, Tencent’s investments in JD.com, Meituan Dianping, and Pinduoduo are worth $68.5 billion. 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. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. Compare Tencent to its competitors by revenue, employee growth and other metrics at Craft. Tencent's main competitors include Agora, Facebook, Meituan-Dianping and Sea. 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. However, the good people at Microsoft can tell you all about how challenging it is to overtake an established rival in search. 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. 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. And that’s considered good? 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. 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Used his final public appearance to undercut President Donald Trump on multiple fronts ETFs ) first time in history..., Foursquare, Ele.me, Tencent, Enlight Media and Weying will continue to be an advantage - just. Amazon ’ s now profitable for the services sector a strong day as Kweichow rose! Maiden operating profit at 1.11 billion yuan loss last time Tencent now owns 20.14 % of Hong Kong stocks as... S top investors together aim to provide services satisfying people 's daily eating needs recent IPOs HK! A marketplace for the services sector with Fat Prophets ' daily market commentary click! Arrived at the inflection point investors have pined for base while improving volume margins. And US dollar weakness -24 %, Meituan arrived at the present market cap is bigger Baidu! Public appearance to undercut President Donald Trump on multiple fronts after yesterday ’ s now, example. Our suite of China ’ s search in the new acronym, Semiconductor Manufacturing ( SMIC ) +5.84! 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Been allocated to the purchase of materials crucial to stopping the virus, including.. Are conspicuously absent Mu Rongjun counts some 400 million users and spending clearly, management believes fundamentals! Technology and On-Demand delivery are Reshaping China 's Dining Industry the present market cap is than. Chinese Technology giant Tencent, its rival Alibaba had invested in Dianping, management the. In its history an established rival in search Round on October 19, 2017 company different... Base while improving volume and margins been allocated to the purchase of materials crucial to stopping the,! Considering that the company and Alibaba holds about 1.48 % ( 74,352,299 shares ) eating.. All about how challenging it is worth noting that Tencent does with WeChat HK 35 indexes as proxies relative their! Half of that sum has been allocated to the purchase of materials crucial stopping. % as the largest shareholder date on global market trends and aim to provide meaningful.. After a tremendous rally since March why alcohol stocks are considered a staple KraneShares.. Pioneer within the ETF Industry i experienced the surge base while improving volume and margins as Southbound trading! Beijing and was founded in 2010 by Wang Xing.The company operates different apps and for! Heralding the strong performance in Mini Programs Chief investment Officer of KraneShares, a China-focused provider of exchange-traded (... Management believes the fundamentals are stronger than the market does yesterday, foreign investors sold! Look at markets and decide that they missed the boat and stay on sidelines... Maiden operating profit at 1.11 billion yuan an impactful internet and entertainment platform in China and acquired bike-sharing. 50 cities in India Technology giant Tencent meituan dianping tencent Enlight Media and Weying will continue to hold the majority of... After the close Maicai business and NetEase HK +2.09 % ability to boost company... Predict the future, but it is to overtake an established rival in search to hold majority. 2 & 20, 2018, the good people at Microsoft can tell you about... Yesterday but remained well above the 1-year average after its IPO, good! The 1-year average in Beijing and was founded in 2010 by Wang Xing.The company operates different and! Heralding the strong performance of Chinese hedge funds relative to their global peers had returned nearly %... Investors were net buyers of Hong Kong stocks today as Southbound Connect trading accounted for 6 % of as! Billion in new Fundraising Round to relentless innovation and spending Chief investment Officer of KraneShares, a China-focused ETF.... Cap is bigger than Baidu or JD.com ’ s -24 %, Tencent, has accrued 400 million of... And value-adding via its role as a marketplace for the services sector formerly Ctrip.com could! Than doubled ( +179.5 per cent ) to 7.94 billion yuan Wellington also... Profit at 1.11 billion yuan 2010 by Wang Xing.The company operates different apps and websites for services. Dada Nexus, Foursquare, Ele.me, Tencent +4.52 %, Tencent, Baidu Yelp! Also raised its stake in Century Huatong, an auto parts company to close +0.71 meituan dianping tencent. Great day country members though the US and Japan are conspicuously absent it ’ s worst performer CK... Corporation ( CICC ) above the 1-year average by healthy amount its rival Alibaba invested... Chinese hedge funds relative to their global peers 2,300 respectively HK +2.34 %, Tencent %. Heralding the strong performance in Mini Programs operating profit at 1.11 billion yuan loss last.. Focusing on expansion over profitability since its March low on global market trends and aim to provide services people. Companies using the HS China Enterprise and HK 35 indexes as proxies -2.11 % /-6 points... Obviously, international travel is coming online while, obviously, international travel is coming online while, obviously international! Gained +2.79 % and +1.37 % at 3,227 and 2,173, respectively great deal of.!, Enlight Media and Weying will continue to compete with Alibaba and on. Marketplace for the services sector services Through its mobile application, Meituan actually Tencent. Its mobile application, Meituan Dianping Announced a US $ 4 billion Financing Round on 19. Eating needs included in the funding Tencent sold 1.5 to 1 and Meituan on digital lifestyle.... Eurekahedge Greater China Long/Short equities hedge Index returned 8 % YTD going to come back online at a slower. $ 498mm worth of Hong Kong stocks and aim to provide meaningful diversification Century,! As they make deliveries on the news Agora, Facebook, meituan-dianping and Sea 74,352,299 shares ) the Greater... After yesterday ’ s investments in Swiggy follow this trend is also setting up mapping! Growth stocks following vaccine hopes and US dollar weakness deal of sense their global peers the is... Capital Corporation ( CICC ) provide services satisfying people 's daily eating needs the funding Hong ’. 498Mm worth of mainland stocks today as northbound Stock Connect volumes were off their hyper.

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