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Follow updates here. 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. Update: Meituan Dianping Announced A US$4 billion Financing Round on October 19, 2017. Meituan also reported its maiden operating profit at 1.11 billion yuan, a significant improvement from the 2.85 billion yuan loss last time. Asian equities had a strong day led by growth stocks following vaccine hopes and US dollar weakness. Opinions expressed by Forbes Contributors are their own. Tencent, already an investor in Hike, Ola, and Flipkart, is now looking to spend up to $15 million on early-stage Indian startups. 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. Today’s worst performer was CK Asset -2.11%/-6 index points. Chinese app Meituan-Dianping claims to help create 20m job opportunities. Foreign investors sold -$318mm worth of Mainland stocks today as Northbound Stock Connect trading accounted for 6% of Mainland turnover. Shanghai & Shenzhen diverged in a choppy session up +0.11% and down -0.65% to close at 3,371 and 2,300 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. 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. Tencent's main competitors include Agora, Facebook, Meituan-Dianping and Sea. 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. Meituan-Dianping's main competitors include Dada Nexus, Foursquare, Ele.me, Tencent, Baidu, Yelp and Groupon. 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. Overall, group total gross profit more than doubled (+179.5 per cent) to 7.94 billion yuan. President Xi gave the keynote at the annual meeting of the Asian Infrastructure Investment Bank (AIIB), which supports the Belt & Road Initiative. Meituan-Dianping’s investments in Swiggy follow this trend. Today, Tencent’s investments in JD.com, Meituan Dianping, and Pinduoduo are worth $68.5 billion. 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 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 … And that’s considered good? 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 … Online to offline. The article cited the Eurekahedge Greater China Long/Short Equities Hedge Index returned 8% YTD. The company is headquartered in Beijing and was founded in 2010 by Wang Xing.The company operates different apps and websites for different services. 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). Indian food delivery startup Swiggy has announced a $1 billion round led by Naspers, with participation from DST Global, Coatue Management and Meituan Dianping. China-domiciled companies +0.76% versus +0.77% for Hong Kong-domiciled companies using the HS China Enterprise and HK 35 indexes as proxies. 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 … I am the CIO of KraneShares, a China-focused ETF provider. Founded in 2014, Swiggy has partnered with more than 50,000 restaurants across 50 cities in India. But what makes a … As a pioneer within the ETF industry I experienced the surge. Here’s how. Volume declined another -10% after yesterday’s -24%, but was just above the 1-year average. 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. This will continue to be an advantage - in just three years, there are over 1 million WeChat Mini Programs. Meituan Raises $4 Billion in New Fundraising Round. Meituan-Dianping, backed by Chinese technology giant Tencent, has accrued 400 million users. 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. You may opt-out by. 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. 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. Tencent sold 1.5 to 1 and Meituan Dianping bought 2 to 1. 2017-10-19. There was broker chatter that Trip.com (formerly Ctrip.com) could be taken private. Meituan generates revenues from a mix of commissions, online marketing and value-adding via its role as a marketplace for the services sector. 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 The irony is that, at the present market cap, it may have qualified for inclusion. Breadth was positive with 2,417 advancers and 1,181 decliners. Meituan Dianping, the Chinese restaurant review and delivery giant, has started gauging investor demand for a planned Hong Kong initial public offering, people with … Recent IPOs JD.com HK gained +2.79% and NetEase HK +2.09%. 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). UGC User generated content. Meituan has scaled down its loss-making bike-rental business to focus on a core strength – grocery deliveries via its Maicai business. 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. Meituan’s large market cap could make it more of a target for Tencent, which hasn’t grown as fast. China’s big tech companies Tencent Holdings Ltd , Meituan Dianping, and Baidu Inc (NASDAQ: BIDU) have also joined in the fight. Beyond that, Tencent’s cloud division has offered cloud computing solutions … We help investors stay up to date on global market trends and aim to provide meaningful diversification. Today, Tencent’s investments in JD.com, Meituan Dianping, and Pinduoduo are worth $68.5 billion. 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. The Wall Street Journal published an article heralding the strong performance of Chinese hedge funds relative to their global peers. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. All Rights Reserved, This is a BETA experience. 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. 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. 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. AIIB has 102 country members though the US and Japan are conspicuously absent. 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 can’t predict the future, but it is worth noting that Tencent has not flinched after a tremendous rally since March. Tencent. MEITUAN DIANPING is a China-based e-commerce platform providing life services. Should You Get Yours Now? A-Share Update. 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 … 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. Volume fell -2.8% following a decline of -30% yesterday but remained above the 1-year average by healthy amount. Northbound Stock Connect volumes were off their recent hyper levels but remained well above the 1-year average. Embedding Sogou’s search in the WeChat ecosystem makes a great deal of sense. To combat the outbreak, Tencent has committed 300 million yuan in aid. 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. However, the good people at Microsoft can tell you all about how challenging it is to overtake an established rival in search. The company is on a rapid growth … 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 Study Shows Technology and On-Demand Delivery Are Reshaping China's Dining Industry. 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 and Tencent Further Strengthen Partnership Through Strategic Cooperation Between Ma. 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. 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. 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. Attorney General William Barr used his final public appearance to undercut President Donald Trump on multiple fronts. Mainland China had a strong day as Kweichow Moutai rose +2.92% as the company reported earnings after the close. 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. 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 Tencent to its competitors by revenue, employee growth and other metrics at Craft. Rivals that have direct and indirect competition with Meituan-Dianping include Alibaba, Tencent, Beyond Meat and Yelp. 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. Greg Smith is head of research at investment research and funds management house Fat Prophets. Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. While Meituan was backed by Tencent, its rival Alibaba had invested in Dianping. The Dianping-Meituan marriage also serves as a warning shot from Alibaba and Tencent to China’s top search engine, Baidu, which recently vowed … One interesting aspect of Tencent’s purchase is that it came after SOGO had returned nearly 50% since its March low. 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. For a free trial of Fat Prophets' daily market commentary please click here. With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has The most well-known company in this category is 美团点评 (Meituan Dianping). Interests associated with Fat Prophets declare a holding in Meituan Dianping. Each have been affected by the coronavirus and are now helping defeat it. 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. Save. This should raise loyalty across the merchant base while improving volume and margins. Does a transition pension make sense for me? While Meituan was backed by Tencent, its rival Alibaba had invested in Dianping. 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. 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. 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. 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. Sequoia Capital holds 11.44% of the company and Alibaba holds about 1.48% (74,352,299 shares). The company is on a rapid growth trajectory, and also has a sticky natural market thanks to being backed by WeChat operator Tencent Holdings. 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 … Southbound Stock Connect volumes returned to earth as Mainland investors were net buyers of Hong Kong stocks. The company’s market cap is bigger than Baidu or JD.com’s now, for example. Listed on the HKEX on September 20, 2018, the company's major shareholders include Wang Xing and Mu Rongjun. A year after its IPO, the 9-year-old company finally arrived at the inflection point investors have pined for. 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. 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. Domestic travel is coming online while, obviously, international travel is going to come back online at a far slower pace. No one else has the transaction data or the ability to boost a company’s distribution the way that Tencent does with WeChat. 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. 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, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. 2017-11-25. Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. Tencent gives Meituan Dianping 'sticky' edge Greg Smith. 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… Krane Funds Advisors, LLC is the investment manager for KraneShares ETFs. © 2020 Forbes Media LLC. With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has 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. 2017-07-10. 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. Meituan-Dianping, founded in April, 2007 and headquartered in Beijing, is a life service e-commerce 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. Sep 11, 2019 – 2.23pm. Ironically, Meituan actually counts Tencent as a shareholder. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. 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 … 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. Tencent's main competitors include Agora, Facebook, Meituan-Dianping and Sea. A new useful acronym is “ATMX,” Hong Kong’s FAANG, which had a great day. 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. No one else has the transaction data or the ability to boost a company’s distribution the way that Tencent does with WeChat. 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. To hold the majority stake of the combined company CICC ) funds management house Fat Prophets ' daily market please. Head of research at investment research and funds management house Fat Prophets declare a holding in Dianping! Pinduoduo are worth $ 68.5 billion yesterday, foreign investors net sold shanghai and... +3.24 %, Meituan actually counts Tencent as a pioneer within the ETF Industry i experienced the.! App Mobike in 2018 of Fat Prophets markets and decide that they missed the boat stay! 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