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. Here’s how. Southbound Stock Connect volumes returned to earth as Mainland investors were net buyers of Hong Kong stocks. 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 … 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. Greg Smith is head of research at investment research and funds management house Fat Prophets. 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. 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. The company’s market cap is bigger than Baidu or JD.com’s now, for example. Alibaba and Tencent remain in a different league, valuation-wise, … UGC User generated content. A-Share Update. The merger also brought two of China’s top investors together. Today’s worst performer was CK Asset -2.11%/-6 index points. Meituan and Tencent Further Strengthen Partnership Through Strategic Cooperation Between Ma. Mid and small caps outperformed small caps. 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. Many investors will look at markets and decide that they missed the boat and stay on the sidelines. 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 … Follow updates here. Sep 11, 2019 – 2.23pm. 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. 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%. 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. 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. Chinese app Meituan-Dianping claims to help create 20m job opportunities. 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. All Rights Reserved, This is a BETA experience. Meituan Study Shows Technology and On-Demand Delivery Are Reshaping China's Dining Industry. Meituan generates revenues from a mix of commissions, online marketing and value-adding via its role as a marketplace for the services sector. 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 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. Indian food delivery startup Swiggy has announced a $1 billion round led by Naspers, with participation from DST Global, Coatue Management and Meituan Dianping. 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. 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. 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. Opinions expressed by Forbes Contributors are their own. Like yesterday, foreign investors net sold Shanghai stocks and bought Shenzhen stocks. The merger also brought two of China’s top investors together. I can’t predict the future, but it is worth noting that Tencent has not flinched after a tremendous rally since March. Meituan-Dianping, founded in April, 2007 and headquartered in Beijing, is a life service e-commerce platform in China. The combined company is well positioned to become an impactful internet and entertainment platform in China. But what makes a … MEITUAN DIANPING is a China-based e-commerce platform providing life services. 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 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. 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. 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. Compare Meituan-Dianping to its competitors … I am the CIO of KraneShares, a China-focused ETF provider. Though not included in the new acronym, Semiconductor Manufacturing (SMIC) rose +5.84%. © 2020 Forbes Media LLC. With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has A year after its IPO, the 9-year-old company finally arrived at the inflection point investors have pined for. You may opt-out by. Meituan also reported its maiden operating profit at 1.11 billion yuan, a significant improvement from the 2.85 billion yuan loss last time. The article cited the Eurekahedge Greater China Long/Short Equities Hedge Index returned 8% YTD. 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%. 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). Overall, group total gross profit more than doubled (+179.5 per cent) to 7.94 billion yuan. SHANGHAI, CHINA - AUGUST 02 (Photo by Visual China Group via Getty Images/Visual China Group via ... [+] Getty Images). Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. 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 … Update: Meituan Dianping Announced A US$4 billion Financing Round on October 19, 2017. 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. Foolish conclusion. Meituan-Dianping's main competitors include Dada Nexus, Foursquare, Ele.me, Tencent, Baidu, Yelp and Groupon. 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 … The company is on a rapid growth … 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… A new useful acronym is “ATMX,” Hong Kong’s FAANG, which had a great day. 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. 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. Details: Tencent reported on Wednesday net income during the fourth quarter of RMB 21.6 billion ($3.1 billion) on revenue of … 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 generates revenues from a mix of commissions, online marketing and value-adding via its role as a marketplace for the services sector. Rivals that have direct and indirect competition with Meituan-Dianping include Alibaba, Tencent, Beyond Meat and Yelp. Beyond that, Tencent’s cloud division has offered cloud computing solutions … With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has It merged with Dianping in 2015 and acquired the bike-sharing app Mobike in 2018. Should You Get Yours Now? Tencent's main competitors include Agora, Facebook, Meituan-Dianping and Sea. To combat the outbreak, Tencent has committed 300 million yuan in aid. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. Tencent gives Meituan Dianping 'sticky' edge Greg Smith. Tencent sold 1.5 to 1 and Meituan Dianping bought 2 to 1. Ironically, Meituan actually counts Tencent as a shareholder. 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 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. Volume declined another -10% after yesterday’s -24%, but was just above the 1-year average. The Dianping-Meituan marriage also serves as a warning shot from Alibaba and Tencent to China’s top search engine, Baidu, which recently vowed … Asian equities had a strong day led by growth stocks following vaccine hopes and US dollar weakness. If we charged 2 & 20, I’d be on the beach already! China’s big tech companies Tencent Holdings Ltd , Meituan Dianping, and Baidu Inc (NASDAQ: BIDU) have also joined in the fight. 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. 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. The company is headquartered in Beijing and was founded in 2010 by Wang Xing.The company operates different apps and websites for different services. 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 Raises $4 Billion in New Fundraising Round. 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. Each have been affected by the coronavirus and are now helping defeat it. Tencent, already an investor in Hike, Ola, and Flipkart, is now looking to spend up to $15 million on early-stage Indian startups. 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 This should raise loyalty across the merchant base while improving volume and margins. 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. Mainland China had a strong day as Kweichow Moutai rose +2.92% as the company reported earnings after the close. Krane Funds Advisors, LLC is majority owned by China International Capital Corporation (CICC). Domestic travel is coming online while, obviously, international travel is going to come back online at a far slower pace. Tencent. 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. 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. 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. But what makes a … While Meituan was backed by Tencent, its rival Alibaba had invested in Dianping. I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). Attorney General William Barr used his final public appearance to undercut President Donald Trump on multiple fronts. 2017-10-19. 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. 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. 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%. Meituan Dianping has had great growth due to relentless innovation and spending. There was broker chatter that Trip.com (formerly Ctrip.com) could be taken private. Tencent currently own 20.1% of the company. Follow developments here. Meituan-Dianping’s investments in Swiggy follow this trend. Online to offline. Save. The company is headquartered in Beijing and was founded in 2010 by Wang Xing.The company operates different apps and websites for different services. China’s Super App Meituan Dianping just turned profitable. Mainland investors bought $498mm worth of Hong Kong stocks today as Southbound Connect trading accounted for 10% of Hong Kong turnover. However, the good people at Microsoft can tell you all about how challenging it is to overtake an established rival in search. The irony is that, at the present market cap, it may have qualified for inclusion. 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. A new useful acronym is “ATMX,” Hong Kong’s FAANG, which had a great day. Sequoia Capital holds 11.44% of the company and Alibaba holds about 1.48% (74,352,299 shares). The most well-known company in this category is 美团点评 (Meituan Dianping). 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. The company is a China-based e-commerce "super" platform for "life services" – from food delivery to hotel bookings and even ride hailing. This will continue to be an advantage - in just three years, there are over 1 million WeChat Mini Programs. 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 fell -2.8% following a decline of -30% yesterday but remained above the 1-year average by healthy amount. I suppose the results prove why alcohol stocks are considered a staple. Listed on the HKEX on September 20, 2018, the company's major shareholders include Wang Xing and Mu Rongjun. 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. And that’s considered good? Today, Tencent’s investments in JD.com, Meituan Dianping, and Pinduoduo are worth $68.5 billion. 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. 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. 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. Today, Tencent’s investments in JD.com, Meituan Dianping, and Pinduoduo are worth $68.5 billion. 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. 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. Northbound Stock Connect volumes were off their recent hyper levels but remained well above the 1-year average. One interesting aspect of Tencent’s purchase is that it came after SOGO had returned nearly 50% since its March low. Though not included in the new acronym, Semiconductor Manufacturing (SMIC) rose +5.84%. 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. 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