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. Breadth was positive with 2,417 advancers and 1,181 decliners. The investees themselves have gained about $33.7 billion in value, the biggest contributor being Tencent's 20%-plus stake in Meituan-Dianping, the … The founder is Wang Xing. We help investors stay up to date on global market trends and aim to provide meaningful diversification. Online to offline. 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. Indian food delivery startup Swiggy has announced a $1 billion round led by Naspers, with participation from DST Global, Coatue Management and Meituan Dianping. © 2020 Forbes Media LLC. Tencent's main competitors include Agora, Facebook, Meituan-Dianping and Sea. Today, Tencent’s investments in JD.com, Meituan Dianping, and Pinduoduo are worth $68.5 billion. The Wall Street Journal published an article heralding the strong performance of Chinese hedge funds relative to their global peers. Meituan-Dianping's main competitors include Dada Nexus, Foursquare, Ele.me, Tencent, Baidu, Yelp and Groupon. 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. Foolish conclusion. The most well-known company in this category is 美团点评 (Meituan Dianping). Though not included in the new acronym, Semiconductor Manufacturing (SMIC) rose +5.84%. 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. Like yesterday, foreign investors net sold Shanghai stocks and bought Shenzhen stocks. 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. 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. 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. Tencent gives Meituan Dianping 'sticky' edge Greg Smith. 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. 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. The irony is that, at the present market cap, it may have qualified for inclusion. The Company owns an instant food ordering and delivery brand, Meituan, as well as provides services through its mobile application, Meituan. Chinese app Meituan-Dianping claims to help create 20m job opportunities. 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. Mid and small caps outperformed small caps. 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. Update: Meituan Dianping Announced A US$4 billion Financing Round on October 19, 2017. We strive to provide innovative, first to market strategies that have been developed based on our strong partnerships and our deep knowledge of investing. While Meituan was backed by Tencent, its rival Alibaba had invested in Dianping. 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. How this 25-year-old pharmacist plans to retire early, A look back at Australia’s most fabulous parties, Five of the best Tasmanian sparkling wines, 'Not sitting on our hands': Coles boss up for next challenge, The five worst corporate stuff-ups in 2020, Why this executive never feels out of his depth in the ocean, Road-testing 2020′s most impressive car at Sydney Airport, The humble Sydney rock oyster shoots for global luxe status, RM Williams online sales double in pandemic shift, Forrest buries sand miner bid to explore on family cattle station, MacCap dangles IPO carrot to engineering group Fredon, Matthew Drummond, Lauren Sams, Philippa Coates and Julie-anne Sprague. The article cited the Eurekahedge Greater China Long/Short Equities Hedge Index returned 8% YTD. A new useful acronym is “ATMX,” Hong Kong’s FAANG, which had a great day. This will continue to be an advantage - in just three years, there are over 1 million WeChat Mini Programs. 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. 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. 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 … ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. Each have been affected by the coronavirus and are now helping defeat it. 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. 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. The merger also brought two of China’s top investors together. 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. 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. Meituan Dianping has had great growth due to relentless innovation and spending. MEITUAN DIANPING is a China-based e-commerce platform providing life services. Shanghai & Shenzhen diverged in a choppy session up +0.11% and down -0.65% to close at 3,371 and 2,300 respectively. 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. 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). No one else has the transaction data or the ability to boost a company’s distribution the way that Tencent does with WeChat. The Wuhan coronavirus has hurt some parts of Tencent’s … Meituan-Dianping’s investments in Swiggy follow this trend. A strong performance in mini programs shows it will continue to compete with Alibaba and Meituan on digital lifestyle services. Dominant search provider Baidu (BIDU US) was off -2.66% on the news. The company is on a rapid growth … 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 Asian equities had a strong day led by growth stocks following vaccine hopes and US dollar weakness. 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. 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. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. Tencent also raised its stake in Century Huatong, an auto parts company. 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. 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. Tencent sold 1.5 to 1 and Meituan Dianping bought 2 to 1. And that’s considered good? 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 Company connects consumers and businesses to provide services satisfying people's daily eating needs. With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has 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… Meituan counts some 400 million users of its food delivery and other services in China. 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 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. Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. A-Share Update. Shanghai and Shenzhen bounced around the room to close +0.71% and +1.37% at 3,227 and 2,173, respectively. Does a transition pension make sense for me? Though not included in the new acronym, Semiconductor Manufacturing (SMIC) rose +5.84%. 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. Sep 11, 2019 – 2.23pm. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. 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. Today, Tencent’s investments in JD.com, Meituan Dianping, and Pinduoduo are worth $68.5 billion. President Xi gave the keynote at the annual meeting of the Asian Infrastructure Investment Bank (AIIB), which supports the Belt & Road Initiative. 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 generates revenues from a mix of commissions, online marketing and value-adding via its role as a marketplace for the services sector. I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). Listed on the HKEX on September 20, 2018, the company's major shareholders include Wang Xing and Mu Rongjun. But what makes a … Domestic travel is coming online while, obviously, international travel is going to come back online at a far slower pace. 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%. 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. I hope the rumors aren’t true considering that the company’s long term prospects are very strong. One interesting aspect of Tencent’s purchase is that it came after SOGO had returned nearly 50% since its March low. 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. 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 … 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 … Tencent. It is worth noting that India is, in fact, a member and would greatly benefit from putting China’s infrastructure know-how to work. SHANGHAI, CHINA - AUGUST 02 (Photo by Visual China Group via Getty Images/Visual China Group via ... [+] Getty Images). China-domiciled companies +0.76% versus +0.77% for Hong Kong-domiciled companies using the HS China Enterprise and HK 35 indexes as proxies. Meituan, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. The company is on a rapid growth trajectory, and also has a sticky natural market thanks to being backed by WeChat operator Tencent Holdings. It is also setting up a mapping unit which is synergistic, with its fleet of delivery personnel collecting data as they make deliveries. All Rights Reserved, This is a BETA experience. Tencent, Hillhouse Capital and Wellington Management also participated in the funding. 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 AIIB has 102 country members though the US and Japan are conspicuously absent. Meituan and Tencent Further Strengthen Partnership Through Strategic Cooperation Between Ma. Alibaba and Tencent remain in a different league, valuation-wise, … The company is a China-based e-commerce "super" platform for "life services" – from food delivery to hotel bookings and even ride hailing. 2017-10-19. 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. Rivals that have direct and indirect competition with Meituan-Dianping include Alibaba, Tencent, Beyond Meat and Yelp. Volume fell -2.8% following a decline of -30% yesterday but remained above the 1-year average by healthy amount. Mainland investors bought $442mm of Hong Kong stocks today as Southbound Connect trading accounted for 9% of Hong Kong turnover. Tencent's main competitors include Agora, Facebook, Meituan-Dianping and Sea. Krane Funds Advisors, LLC is majority owned by China International Capital Corporation (CICC). Northbound Stock Connect volumes were off their recent hyper levels but remained well above the 1-year average. China’s Super App Meituan Dianping just turned profitable. The Dianping-Meituan marriage also serves as a warning shot from Alibaba and Tencent to China’s top search engine, Baidu, which recently vowed … Meituan’s large market cap could make it more of a target for Tencent, which hasn’t grown as fast. Compare Meituan-Dianping to its competitors … $10,000 In Free Money! I am the CIO of KraneShares, a China-focused ETF provider. 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. A decline of -30 % yesterday but remained above the 1-year average Wall Street Journal published article... In just three years, there are over 1 million WeChat Mini Programs Shows will... 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