The company is a China-based e-commerce "super" platform for "life services" – from food delivery to hotel bookings and even ride hailing. Tencent currently own 20.1% of the company. 2017-07-10. The company is on a rapid growth trajectory, and also has a sticky natural market thanks to being backed by WeChat operator Tencent Holdings. Should You Get Yours Now? 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. The combined company is well positioned to become an impactful internet and entertainment platform in China. Follow updates here. The irony is that, at the present market cap, it may have qualified for inclusion. Sep 11, 2019 – 2.23pm. Ironically, Meituan actually counts Tencent as a shareholder. Details: Tencent reported on Wednesday net income during the fourth quarter of RMB 21.6 billion ($3.1 billion) on revenue of … I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). Meituan Study Shows Technology and On-Demand Delivery Are Reshaping China's Dining Industry. Recent IPOs JD.com HK gained +2.79% and NetEase HK +2.09%. 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. But what makes a … Meituan-Dianping, 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. Greg Smith is head of research at investment research and funds management house Fat Prophets. $10,000 In Free Money! 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. 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. 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 … 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 currently own 20.1% of the company. Like yesterday, foreign investors net sold Shanghai stocks and bought Shenzhen stocks. I hope the rumors aren’t true considering that the company’s long term prospects are very strong. Indian food delivery startup Swiggy has announced a $1 billion round led by Naspers, with participation from DST Global, Coatue Management and Meituan Dianping. Tencent now owns 20.14% of Meituan as the largest shareholder. 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. 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. 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 It is also setting up a mapping unit which is synergistic, with its fleet of delivery personnel collecting data as they make deliveries. 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. 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). The Company connects consumers and businesses to provide services satisfying people's daily eating needs. Mainland investors bought $498mm worth of Hong Kong stocks today as Southbound Connect trading accounted for 10% of Hong Kong turnover. Meituan Dianping has had great growth due to relentless innovation and spending. The investees themselves have gained about $33.7 billion in value, the biggest contributor being Tencent's 20%-plus stake in Meituan-Dianping, the … One interesting aspect of Tencent’s purchase is that it came after SOGO had returned nearly 50% since its March low. All Rights Reserved, This is a BETA experience. Volume fell -2.8% following a decline of -30% yesterday but remained above the 1-year average by healthy amount. 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. No one else has the transaction data or the ability to boost a company’s distribution the way that Tencent does with WeChat. 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. China’s Super App Meituan Dianping just turned profitable. The company is headquartered in Beijing and was founded in 2010 by Wang Xing.The company operates different apps and websites for different services. Though not included in the new acronym, Semiconductor Manufacturing (SMIC) rose +5.84%. Online to offline. 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. 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. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. 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. I suppose the results prove why alcohol stocks are considered a staple. Attorney General William Barr used his final public appearance to undercut President Donald Trump on multiple fronts. Foreign investors sold -$318mm worth of Mainland stocks today as Northbound Stock Connect trading accounted for 6% of Mainland turnover. 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. Krane Funds Advisors, LLC is majority owned by China International Capital Corporation (CICC). Here’s how. 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. Sequoia Capital holds 11.44% of the company and Alibaba holds about 1.48% (74,352,299 shares). 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. Compare Tencent to its competitors by revenue, employee growth and other metrics at Craft. 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. Tencent sold 1.5 to 1 and Meituan Dianping bought 2 to 1. The Wuhan coronavirus has hurt some parts of Tencent’s … A strong performance in mini programs shows it will continue to compete with Alibaba and Meituan on digital lifestyle services. 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. Beyond that, Tencent’s cloud division has offered cloud computing solutions … 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. 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. 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%. As a pioneer within the ETF industry I experienced the surge. The Company owns an instant food ordering and delivery brand, Meituan, as well as provides services through its mobile application, Meituan. 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. Tencent's main competitors include Agora, Facebook, Meituan-Dianping and Sea. 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 Dianping, the Chinese restaurant review and delivery giant, has started gauging investor demand for a planned Hong Kong initial public offering, people with … 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 … To combat the outbreak, Tencent has committed 300 million yuan in aid. If we charged 2 & 20, I’d be on the beach already! 2017-11-25. 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. Meituan-Dianping, founded in April, 2007 and headquartered in Beijing, is a life service e-commerce platform in China. Overall, group total gross profit more than doubled (+179.5 per cent) to 7.94 billion yuan. Foolish conclusion. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. Shanghai & Shenzhen diverged in a choppy session up +0.11% and down -0.65% to close at 3,371 and 2,300 respectively. I am the CIO of KraneShares, a China-focused ETF provider. Asian equities had a strong day led by growth stocks following vaccine hopes and US dollar weakness. 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 … The company’s market cap is bigger than Baidu or JD.com’s now, for example. 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%. For a free trial of Fat Prophets' daily market commentary please click here. 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. Breadth was positive with 2,417 advancers and 1,181 decliners. Chinese app Meituan-Dianping claims to help create 20m job opportunities. 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. 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. Tencent, Hillhouse Capital and Wellington Management also participated in the funding. Meituan, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. 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. The company is headquartered in Beijing and was founded in 2010 by Wang Xing.The company operates different apps and websites for different services. MEITUAN DIANPING is a China-based e-commerce platform providing life services. Opinions expressed by Forbes Contributors are their own. Meituan’s large market cap could make it more of a target for Tencent, which hasn’t grown as fast. 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. It’s now profitable for the first time in its history. 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. 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. A new useful acronym is “ATMX,” Hong Kong’s FAANG, which had a great day. The merger also brought two of China’s top investors together. 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. Compare Meituan-Dianping to its competitors … Clearly, management believes the fundamentals are stronger than the market does. With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has Tencent, already an investor in Hike, Ola, and Flipkart, is now looking to spend up to $15 million on early-stage Indian startups. 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. The Dianping-Meituan marriage also serves as a warning shot from Alibaba and Tencent to China’s top search engine, Baidu, which recently vowed … Though not included in the new acronym, Semiconductor Manufacturing (SMIC) rose +5.84%. Shanghai and Shenzhen bounced around the room to close +0.71% and +1.37% at 3,227 and 2,173, respectively. China’s big tech companies Tencent Holdings Ltd , Meituan Dianping, and Baidu Inc (NASDAQ: BIDU) have also joined in the fight. 2017-10-19. Meituan-Dianping’s investments in Swiggy follow this trend. 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 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 declined another -10% after yesterday’s -24%, but was just above the 1-year average. You may opt-out by. 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. 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. 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. © 2020 Forbes Media LLC. Tencent. A-Share Update. Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. 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. Meituan counts some 400 million users of its food delivery and other services in China. Southbound Stock Connect volumes returned to earth as Mainland investors were net buyers of Hong Kong stocks. Meituan, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. Tencent gives Meituan Dianping 'sticky' edge Greg Smith. SHANGHAI, CHINA - AUGUST 02 (Photo by Visual China Group via Getty Images/Visual China Group via ... [+] Getty Images). Follow developments here. 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 … 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. 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. This should raise loyalty across the merchant base while improving volume and margins. I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. 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. Mid and small caps outperformed small caps. Northbound Stock Connect volumes were off their recent hyper levels but remained well above the 1-year average. 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. Interests associated with Fat Prophets declare a holding in Meituan Dianping. The founder is Wang Xing. The Wall Street Journal published an article heralding the strong performance of Chinese hedge funds relative to their global peers. The most well-known company in this category is 美团点评 (Meituan Dianping). 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. Founded in 2014, Swiggy has partnered with more than 50,000 restaurants across 50 cities in India. 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. No one else has the transaction data or the ability to boost a company’s distribution the way that Tencent does with WeChat. 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. 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. Meituan and Tencent Further Strengthen Partnership Through Strategic Cooperation Between Ma. A new useful acronym is “ATMX,” Hong Kong’s FAANG, which had a great day. And that’s considered good? Mainland China had a strong day as Kweichow Moutai rose +2.92% as the company reported earnings after the close. Today’s worst performer was CK Asset -2.11%/-6 index points. 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 … President Xi gave the keynote at the annual meeting of the Asian Infrastructure Investment Bank (AIIB), which supports the Belt & Road Initiative. Domestic travel is coming online while, obviously, international travel is going to come back online at a far slower pace. Mainland investors bought $442mm of Hong Kong stocks today as Southbound Connect trading accounted for 9% of Hong Kong turnover. The merger also brought two of China’s top investors together. 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. Today, Tencent’s investments in JD.com, Meituan Dianping, and Pinduoduo are worth $68.5 billion. With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has 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. Krane Funds Advisors, LLC is the investment manager for KraneShares ETFs. 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. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. 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). Compare Tencent to its competitors by revenue, employee growth and other metrics at Craft. Update: Meituan Dianping Announced A US$4 billion Financing Round on October 19, 2017. 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%. 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 company is on a rapid growth … Order volumes on the platform surged 28.7 per cent to 159.2 billion yuan. Tencent's main competitors include Agora, Facebook, Meituan-Dianping and Sea. Dominant search provider Baidu (BIDU US) was off -2.66% on the news. Half of that sum has been allocated to the purchase of materials crucial to stopping the virus, including masks. Meituan-Dianping's main competitors include Dada Nexus, Foursquare, Ele.me, Tencent, Baidu, Yelp and Groupon. 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. Tencent also raised its stake in Century Huatong, an auto parts company. Many investors will look at markets and decide that they missed the boat and stay on the sidelines. 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 While Meituan was backed by Tencent, its rival Alibaba had invested in Dianping. UGC User generated content. But what makes a … A year after its IPO, the 9-year-old company finally arrived at the inflection point investors have pined for. 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). Save. This will continue to be an advantage - in just three years, there are over 1 million WeChat Mini Programs. 28.7 per cent to 159.2 billion yuan loss last time after SOGO had returned nearly 50 % its. S search in the new acronym, Semiconductor Manufacturing ( SMIC ) rose +5.84 % nearly 50 % its... Investment manager for KraneShares ETFs may have qualified for inclusion app Mobike in 2018 and Meituan Dianping ) its by... 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