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. Foreign investors sold -$318mm worth of Mainland stocks today as Northbound Stock Connect trading accounted for 6% of Mainland turnover. Attorney General William Barr used his final public appearance to undercut President Donald Trump on multiple fronts. 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. 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). Beyond that, Tencent’s cloud division has offered cloud computing solutions … Tencent, already an investor in Hike, Ola, and Flipkart, is now looking to spend up to $15 million on early-stage Indian startups. 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 … The company is a China-based e-commerce "super" platform for "life services" – from food delivery to hotel bookings and even ride hailing. Mainland investors bought $498mm worth of Hong Kong stocks today as Southbound Connect trading accounted for 10% of Hong Kong turnover. I am the CIO of KraneShares, a China-focused ETF provider. AIIB has 102 country members though the US and Japan are conspicuously absent. 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. 2017-10-19. 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. Tencent gives Meituan Dianping 'sticky' edge Greg Smith. Here’s how. Rivals that have direct and indirect competition with Meituan-Dianping include Alibaba, Tencent, Beyond Meat and Yelp. This should raise loyalty across the merchant base while improving volume and margins. 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 Indian food delivery startup Swiggy has announced a $1 billion round led by Naspers, with participation from DST Global, Coatue Management and Meituan Dianping. Meituan generates revenues from a mix of commissions, online marketing and value-adding via its role as a marketplace for the services sector. 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 also reported its maiden operating profit at 1.11 billion yuan, a significant improvement from the 2.85 billion yuan loss last time. A new useful acronym is “ATMX,” Hong Kong’s FAANG, which had a great day. Order volumes on the platform surged 28.7 per cent to 159.2 billion yuan. We help investors stay up to date on global market trends and aim to provide meaningful diversification. Many investors will look at markets and decide that they missed the boat and stay on the sidelines. 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. 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. You may opt-out by. The founder is Wang Xing. 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 … Each have been affected by the coronavirus and are now helping defeat it. 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. 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 Half of that sum has been allocated to the purchase of materials crucial to stopping the virus, including masks. Should You Get Yours Now? 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. Sequoia Capital holds 11.44% of the company and Alibaba holds about 1.48% (74,352,299 shares). $10,000 In Free Money! Meituan, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. But what makes a … 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 has had great growth due to relentless innovation and spending. 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. Compare Meituan-Dianping to its competitors … Opinions expressed by Forbes Contributors are their own. 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). It merged with Dianping in 2015 and acquired the bike-sharing app Mobike in 2018. However, the good people at Microsoft can tell you all about how challenging it is to overtake an established rival in search. Tencent, Hillhouse Capital and Wellington Management also participated in the funding. Founded in 2014, Swiggy has partnered with more than 50,000 restaurants across 50 cities in India. 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. 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. And that’s considered good? This will continue to be an advantage - in just three years, there are over 1 million WeChat Mini Programs. Recent IPOs JD.com HK gained +2.79% and NetEase HK +2.09%. 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. 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, hoping to … I can’t predict the future, but it is worth noting that Tencent has not flinched after a tremendous rally since March. While Meituan was backed by Tencent, its rival Alibaba had invested in Dianping. The company is on a rapid growth … The Wall Street Journal published an article heralding the strong performance of Chinese hedge funds relative to their global peers. 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. Domestic travel is coming online while, obviously, international travel is going to come back online at a far slower pace. 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. President Xi gave the keynote at the annual meeting of the Asian Infrastructure Investment Bank (AIIB), which supports the Belt & Road Initiative. Tencent currently own 20.1% of the company. 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. 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… All Rights Reserved, This is a BETA experience. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. Meituan Raises $4 Billion in New Fundraising Round. China-domiciled companies +0.76% versus +0.77% for Hong Kong-domiciled companies using the HS China Enterprise and HK 35 indexes as proxies. I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). 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 Clearly, management believes the fundamentals are stronger than the market does. Meituan has scaled down its loss-making bike-rental business to focus on a core strength – grocery deliveries via its Maicai business. Tencent sold 1.5 to 1 and Meituan Dianping bought 2 to 1. SHANGHAI, CHINA - AUGUST 02 (Photo by Visual China Group via Getty Images/Visual China Group via ... [+] Getty Images). Chinese app Meituan-Dianping claims to help create 20m job opportunities. MEITUAN DIANPING is a China-based e-commerce platform providing life services. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. Krane Funds Advisors, LLC is the investment manager for KraneShares ETFs. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. 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 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 … China’s Super App Meituan Dianping just turned profitable. 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. No one else has the transaction data or the ability to boost a company’s distribution the way that Tencent does with WeChat. 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 Company connects consumers and businesses to provide services satisfying people's daily eating needs. Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. Asian equities had a strong day led by growth stocks following vaccine hopes and US dollar weakness. Foolish conclusion. A new useful acronym is “ATMX,” Hong Kong’s FAANG, which had a great day. Meituan Dianping, the Chinese restaurant review and delivery giant, has started gauging investor demand for a planned Hong Kong initial public offering, people with … 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. The combined company is well positioned to become an impactful internet and entertainment platform in China. Southbound Stock Connect volumes returned to earth as Mainland investors were net buyers of Hong Kong stocks. Follow updates here. Embedding Sogou’s search in the WeChat ecosystem makes a great deal of sense. No one else has the transaction data or the ability to boost a company’s distribution the way that Tencent does with WeChat. Tencent currently own 20.1% of the company. The company’s market cap is bigger than Baidu or JD.com’s now, for example. Meituan Study Shows Technology and On-Demand Delivery Are Reshaping China's Dining Industry. Mainland investors bought $442mm of Hong Kong stocks today as Southbound Connect trading accounted for 9% of Hong Kong turnover. I hope the rumors aren’t true considering that the company’s long term prospects are very strong. Update: Meituan Dianping Announced A US$4 billion Financing Round on October 19, 2017. A strong performance in mini programs shows it will continue to compete with Alibaba and Meituan on digital lifestyle services. 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. Dominant search provider Baidu (BIDU US) was off -2.66% on the news. I suppose the results prove why alcohol stocks are considered a staple. The company is on a rapid growth trajectory, and also has a sticky natural market thanks to being backed by WeChat operator Tencent Holdings. Online to offline. But what makes a … Krane Funds Advisors, LLC is majority owned by China International Capital Corporation (CICC). China’s big tech companies Tencent Holdings Ltd , Meituan Dianping, and Baidu Inc (NASDAQ: BIDU) have also joined in the fight. Mainland China had a strong day as Kweichow Moutai rose +2.92% as the company reported earnings after the close. 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. 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. 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. 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). Volume declined another -10% after yesterday’s -24%, but was just above the 1-year average. The Wuhan coronavirus has hurt some parts of Tencent’s … Follow developments here. For a free trial of Fat Prophets' daily market commentary please click here. Meituan-Dianping, backed by Chinese technology giant Tencent, has accrued 400 million users. 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. Shanghai and Shenzhen bounced around the room to close +0.71% and +1.37% at 3,227 and 2,173, respectively. 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. A year after its IPO, the 9-year-old company finally arrived at the inflection point investors have pined for. Though not included in the new acronym, Semiconductor Manufacturing (SMIC) rose +5.84%. 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%. Shanghai & Shenzhen diverged in a choppy session up +0.11% and down -0.65% to close at 3,371 and 2,300 respectively. Compare Tencent to its competitors by revenue, employee growth and other metrics at Craft. To combat the outbreak, Tencent has committed 300 million yuan in aid. The most well-known company in this category is 美团点评 (Meituan Dianping). It is also setting up a mapping unit which is synergistic, with its fleet of delivery personnel collecting data as they make deliveries. Interests associated with Fat Prophets declare a holding in Meituan Dianping. A-Share Update. 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. 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. As a pioneer within the ETF industry I experienced the surge. I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). The investees themselves have gained about $33.7 billion in value, the biggest contributor being Tencent's 20%-plus stake in Meituan-Dianping, the … Does a transition pension make sense for me? If we charged 2 & 20, I’d be on the beach already! Compare Tencent to its competitors by revenue, employee growth and other metrics at Craft. Today, Tencent’s investments in JD.com, Meituan Dianping, and Pinduoduo are worth $68.5 billion. UGC User generated content. 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. 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. Though not included in the new acronym, Semiconductor Manufacturing (SMIC) rose +5.84%. We strive to provide innovative, first to market strategies that have been developed based on our strong partnerships and our deep knowledge of investing. Northbound Stock Connect volumes were off their recent hyper levels but remained well above the 1-year average. Tencent. The Company owns an instant food ordering and delivery brand, Meituan, as well as provides services through its mobile application, Meituan. 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. 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's main competitors include Agora, Facebook, Meituan-Dianping and Sea. 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-Dianping, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. % at 3,227 and 2,173, respectively 'sticky ' edge Greg Smith Through Strategic Cooperation Ma. 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