With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has The investees themselves have gained about $33.7 billion in value, the biggest contributor being Tencent's 20%-plus stake in Meituan-Dianping, the … Attorney General William Barr used his final public appearance to undercut President Donald Trump on multiple fronts. 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 2017-11-25. Today, Tencent’s investments in JD.com, Meituan Dianping, and Pinduoduo are worth $68.5 billion. Ironically, Meituan actually counts Tencent as a shareholder. Alibaba and Tencent remain in a different league, valuation-wise, … Meituan generates revenues from a mix of commissions, online marketing and value-adding via its role as a marketplace for the services sector. But what makes a … Mainland investors bought $442mm of Hong Kong stocks today as Southbound Connect trading accounted for 9% of Hong Kong turnover. 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. 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 combined company is well positioned to become an impactful internet and entertainment platform in China. 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. 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. 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. The founder is Wang Xing. 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 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. Southbound Stock Connect volumes returned to earth as Mainland investors were net buyers of Hong Kong stocks. Though not included in the new acronym, Semiconductor Manufacturing (SMIC) rose +5.84%. 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… Recent IPOs JD.com HK gained +2.79% and NetEase HK +2.09%. Clearly, management believes the fundamentals are stronger than the market does. Volume declined another -10% after yesterday’s -24%, but was just above the 1-year average. 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 Study Shows Technology and On-Demand Delivery Are Reshaping China's Dining Industry. It’s now profitable for the first time in its history. Tencent currently own 20.1% of the company. 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, 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). Chinese app Meituan-Dianping claims to help create 20m job opportunities. 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. 2017-10-19. Update: Meituan Dianping Announced A US$4 billion Financing Round on October 19, 2017. If we charged 2 & 20, I’d be on the beach already! The Wuhan coronavirus has hurt some parts of Tencent’s … $10,000 In Free Money! Dominant search provider Baidu (BIDU US) was off -2.66% on the news. Save. 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. Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. Tencent sold 1.5 to 1 and Meituan Dianping bought 2 to 1. Mid and small caps outperformed small caps. 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. I am the CIO of KraneShares, a China-focused ETF provider. Meituan counts some 400 million users of its food delivery and other services in China. UGC User generated content. Meituan Dianping, the Chinese restaurant review and delivery giant, has started gauging investor demand for a planned Hong Kong initial public offering, people with … The company is headquartered in Beijing and was founded in 2010 by Wang Xing.The company operates different apps and websites for different services. Follow developments here. 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 also reported its maiden operating profit at 1.11 billion yuan, a significant improvement from the 2.85 billion yuan loss last time. No one else has the transaction data or the ability to boost a company’s distribution the way that Tencent does with WeChat. Today’s worst performer was CK Asset -2.11%/-6 index points. The article cited the Eurekahedge Greater China Long/Short Equities Hedge Index returned 8% YTD. 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. China’s big tech companies Tencent Holdings Ltd , Meituan Dianping, and Baidu Inc (NASDAQ: BIDU) have also joined in the fight. 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. Meituan and Tencent Further Strengthen Partnership Through Strategic Cooperation Between Ma. 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. 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. Northbound Stock Connect volumes were off their recent hyper levels but remained well above the 1-year average. Meituan generates revenues from a mix of commissions, online marketing and value-adding via its role as a marketplace for the services sector. Order volumes on the platform surged 28.7 per cent to 159.2 billion yuan. 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. I hope the rumors aren’t true considering that the company’s long term prospects are very strong. Tencent, already an investor in Hike, Ola, and Flipkart, is now looking to spend up to $15 million on early-stage Indian startups. 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 … A year after its IPO, the 9-year-old company finally arrived at the inflection point investors have pined for. Like yesterday, foreign investors net sold Shanghai stocks and bought Shenzhen stocks. 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. 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. Tencent, Hillhouse Capital and Wellington Management also participated in the funding. 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. 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. Many investors will look at markets and decide that they missed the boat and stay on the sidelines. Volume fell -2.8% following a decline of -30% yesterday but remained above the 1-year average by healthy amount. Embedding Sogou’s search in the WeChat ecosystem makes a great deal of sense. Compare Meituan-Dianping to its competitors … 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. AIIB has 102 country members though the US and Japan are conspicuously absent. Foolish conclusion. 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 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. 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. Today, Tencent’s investments in JD.com, Meituan Dianping, and Pinduoduo are worth $68.5 billion. The merger also brought two of China’s top investors together. While Meituan was backed by Tencent, its rival Alibaba had invested in Dianping. Tencent. Meituan, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. Tencent now owns 20.14% of Meituan as the largest shareholder. 2017-07-10. 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 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%. Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. Shanghai & Shenzhen diverged in a choppy session up +0.11% and down -0.65% to close at 3,371 and 2,300 respectively. 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. Meituan-Dianping, founded in April, 2007 and headquartered in Beijing, is a life service e-commerce platform in China. 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 … 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. 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. Sequoia Capital holds 11.44% of the company and Alibaba holds about 1.48% (74,352,299 shares). 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). 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. But what makes a … We help investors stay up to date on global market trends and aim to provide meaningful diversification. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. 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 am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). 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. Meituan has scaled down its loss-making bike-rental business to focus on a core strength – grocery deliveries via its Maicai business. No one else has the transaction data or the ability to boost a company’s distribution the way that Tencent does with WeChat. The company’s market cap is bigger than Baidu or JD.com’s now, for example. 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With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has 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. It is also setting up a mapping unit which is synergistic, with its fleet of delivery personnel collecting data as they make deliveries. 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. This should raise loyalty across the merchant base while improving volume and margins. © 2020 Forbes Media LLC. 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. Greg Smith is head of research at investment research and funds management house Fat Prophets. 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. 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. For a free trial of Fat Prophets' daily market commentary please click here. 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… 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. Sep 11, 2019 – 2.23pm. The Company owns an instant food ordering and delivery brand, Meituan, as well as provides services through its mobile application, Meituan. The Wall Street Journal published an article heralding the strong performance of Chinese hedge funds relative to their global peers. Overall, group total gross profit more than doubled (+179.5 per cent) to 7.94 billion yuan. It merged with Dianping in 2015 and acquired the bike-sharing app Mobike in 2018. I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). SHANGHAI, CHINA - AUGUST 02 (Photo by Visual China Group via Getty Images/Visual China Group via ... [+] Getty Images). Follow updates here. 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. 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. 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 (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 irony is that, at the present market cap, it may have qualified for inclusion. However, the good people at Microsoft can tell you all about how challenging it is to overtake an established rival in search. 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-Dianping, backed by Chinese technology giant Tencent, has accrued 400 million users. 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. Does a transition pension make sense for me? The company is headquartered in Beijing and was founded in 2010 by Wang Xing.The company operates different apps and websites for different services. 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. 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). 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. Beyond that, Tencent’s cloud division has offered cloud computing solutions … Breadth was positive with 2,417 advancers and 1,181 decliners. 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 … While Meituan was backed by Tencent, its rival Alibaba had invested in Dianping. 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. Here’s how. Tencent's main competitors include Agora, Facebook, Meituan-Dianping and Sea. China’s Super App Meituan Dianping just turned profitable. You may opt-out by. Tencent gives Meituan Dianping 'sticky' edge Greg Smith. A-Share Update. 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 A new useful acronym is “ATMX,” Hong Kong’s FAANG, which had a great day. 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. Online to offline. 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. 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. 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