It merged with Dianping in 2015 and acquired the bike-sharing app Mobike in 2018. Indian food delivery startup Swiggy has announced a $1 billion round led by Naspers, with participation from DST Global, Coatue Management and Meituan Dianping. Follow updates here. Recent IPOs JD.com HK gained +2.79% and NetEase HK +2.09%. You may opt-out by. The irony is that, at the present market cap, it may have qualified for inclusion. Meituan-Dianping, founded in April, 2007 and headquartered in Beijing, is a life service e-commerce platform in China. All Rights Reserved, This is a BETA experience. The Company connects consumers and businesses to provide services satisfying people's daily eating needs. The Dianping-Meituan marriage also serves as a warning shot from Alibaba and Tencent to China’s top search engine, Baidu, which recently vowed … Attorney General William Barr used his final public appearance to undercut President Donald Trump on multiple fronts. Meituan-Dianping's main competitors include Dada Nexus, Foursquare, Ele.me, Tencent, Baidu, Yelp and Groupon. The Company owns an instant food ordering and delivery brand, Meituan, as well as provides services through its mobile application, Meituan. Northbound Stock Connect volumes were off their recent hyper levels but remained well above the 1-year average. Tencent's main competitors include Agora, Facebook, Meituan-Dianping and Sea. 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 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, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. SHANGHAI, CHINA - AUGUST 02 (Photo by Visual China Group via Getty Images/Visual China Group via ... [+] Getty Images). Embedding Sogou’s search in the WeChat ecosystem makes a great deal of sense. Order volumes on the platform surged 28.7 per cent to 159.2 billion yuan. Tencent gives Meituan Dianping 'sticky' edge Greg Smith. 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. Tencent's main competitors include Agora, Facebook, Meituan-Dianping and Sea. 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. But what makes a … 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. Tencent currently own 20.1% of the company. Meituan and Tencent Further Strengthen Partnership Through Strategic Cooperation Between Ma. 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, Hillhouse Capital and Wellington Management also participated in the funding. Meituan-Dianping, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. Tencent, already an investor in Hike, Ola, and Flipkart, is now looking to spend up to $15 million on early-stage Indian startups. 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. 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. Meituan Dianping, the Chinese restaurant review and delivery giant, has started gauging investor demand for a planned Hong Kong initial public offering, people with … 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. 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 (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. 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 combined company is well positioned to become an impactful internet and entertainment platform in China. Meituan generates revenues from a mix of commissions, online marketing and value-adding via its role as a marketplace for the services sector. Meituan has scaled down its loss-making bike-rental business to focus on a core strength – grocery deliveries via its Maicai business. To combat the outbreak, Tencent has committed 300 million yuan in aid. The Wuhan coronavirus has hurt some parts of Tencent’s … 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. Mid and small caps outperformed small caps. Meituan’s large market cap could make it more of a target for Tencent, which hasn’t grown as fast. 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 Today, Tencent’s investments in JD.com, Meituan Dianping, and Pinduoduo are worth $68.5 billion. 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%. 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… ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. Compare Tencent to its competitors by revenue, employee growth and other metrics at Craft. I am the CIO of KraneShares, a China-focused ETF provider. Mainland investors bought $498mm worth of Hong Kong stocks today as Southbound Connect trading accounted for 10% of Hong Kong turnover. 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 … $10,000 In Free Money! 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. Save. 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. 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 ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. Krane Funds Advisors, LLC is majority owned by China International Capital Corporation (CICC). Though not included in the new acronym, Semiconductor Manufacturing (SMIC) rose +5.84%. Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. Foreign investors sold -$318mm worth of Mainland stocks today as Northbound Stock Connect trading accounted for 6% of Mainland turnover. Tencent also raised its stake in Century Huatong, an auto parts company. 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 This will continue to be an advantage - in just three years, there are over 1 million WeChat Mini Programs. 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%. But what makes a … 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. There was broker chatter that Trip.com (formerly Ctrip.com) could be taken private. No one else has the transaction data or the ability to boost a company’s distribution the way that Tencent does with WeChat. Meituan also reported its maiden operating profit at 1.11 billion yuan, a significant improvement from the 2.85 billion yuan loss last time. Meituan-Dianping, backed by Chinese technology giant Tencent, has accrued 400 million users. Listed on the HKEX on September 20, 2018, the company's major shareholders include Wang Xing and Mu Rongjun. The company is on a rapid growth … Clearly, management believes the fundamentals are stronger than the market does. Meituan Raises $4 Billion in New Fundraising Round. Ironically, Meituan actually counts Tencent as a shareholder. 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. 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. For a free trial of Fat Prophets' daily market commentary please click here. I hope the rumors aren’t true considering that the company’s long term prospects are very strong. 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). A new useful acronym is “ATMX,” Hong Kong’s FAANG, which had a great day. Today’s worst performer was CK Asset -2.11%/-6 index points. 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. 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. 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. 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. Interests associated with Fat Prophets declare a holding in Meituan Dianping. Breadth was positive with 2,417 advancers and 1,181 decliners. Rivals that have direct and indirect competition with Meituan-Dianping include Alibaba, Tencent, Beyond Meat and Yelp. The company is a China-based e-commerce "super" platform for "life services" – from food delivery to hotel bookings and even ride hailing. I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). 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. Mainland investors bought $442mm of Hong Kong stocks today as Southbound Connect trading accounted for 9% of Hong Kong turnover. The investees themselves have gained about $33.7 billion in value, the biggest contributor being Tencent's 20%-plus stake in Meituan-Dianping, the … We strive to provide innovative, first to market strategies that have been developed based on our strong partnerships and our deep knowledge of investing. 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. I can’t predict the future, but it is worth noting that Tencent has not flinched after a tremendous rally since March. 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. 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. I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). 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. Asian equities had a strong day led by growth stocks following vaccine hopes and US dollar weakness. 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. Krane Funds Advisors, LLC is the investment manager for KraneShares ETFs. While Meituan was backed by Tencent, its rival Alibaba had invested in Dianping. The founder is Wang Xing. A-Share Update. Southbound Stock Connect volumes returned to earth as Mainland investors were net buyers of Hong Kong stocks. Many investors will look at markets and decide that they missed the boat and stay on the sidelines. Alibaba and Tencent remain in a different league, valuation-wise, … President Xi gave the keynote at the annual meeting of the Asian Infrastructure Investment Bank (AIIB), which supports the Belt & Road Initiative. 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. This will continue to be an advantage - in just three years, there are over 1 million WeChat Mini Programs. 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). Tencent. 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 … 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 company’s market cap is bigger than Baidu or JD.com’s now, for example. 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. It’s now profitable for the first time in its history. 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. With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has The company is headquartered in Beijing and was founded in 2010 by Wang Xing.The company operates different apps and websites for different services. 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. 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. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. 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. With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has 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. Though not included in the new acronym, Semiconductor Manufacturing (SMIC) rose +5.84%. Domestic travel is coming online while, obviously, international travel is going to come back online at a far slower pace. 2017-10-19. A year after its IPO, the 9-year-old company finally arrived at the inflection point investors have pined for. © 2020 Forbes Media LLC. Tencent currently own 20.1% of the company. Shanghai & Shenzhen diverged in a choppy session up +0.11% and down -0.65% to close at 3,371 and 2,300 respectively. Meituan counts some 400 million users of its food delivery and other services in China. 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. 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. 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. 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. AIIB has 102 country members though the US and Japan are conspicuously absent. 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. 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 Dianping has had great growth due to relentless innovation and spending. The article cited the Eurekahedge Greater China Long/Short Equities Hedge Index returned 8% YTD. China-domiciled companies +0.76% versus +0.77% for Hong Kong-domiciled companies using the HS China Enterprise and HK 35 indexes as proxies. One interesting aspect of Tencent’s purchase is that it came after SOGO had returned nearly 50% since its March low. Meituan-Dianping’s investments in Swiggy follow this trend. 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… 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. 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%. 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. 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. While Meituan was backed by Tencent, its rival Alibaba had invested in Dianping. China’s big tech companies Tencent Holdings Ltd , Meituan Dianping, and Baidu Inc (NASDAQ: BIDU) have also joined in the fight. A strong performance in mini programs shows it will continue to compete with Alibaba and Meituan on digital lifestyle services. Mainland China had a strong day as Kweichow Moutai rose +2.92% as the company reported earnings after the close. The Wall Street Journal published an article heralding the strong performance of Chinese hedge funds relative to their global peers. Sep 11, 2019 – 2.23pm. Each have been affected by the coronavirus and are now helping defeat it. Tencent now owns 20.14% of Meituan as the largest shareholder. Shanghai and Shenzhen bounced around the room to close +0.71% and +1.37% at 3,227 and 2,173, respectively. 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. Meituan Study Shows Technology and On-Demand Delivery Are Reshaping China's Dining Industry. Should You Get Yours Now? 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