Business

Meituan Exceeds Baidu: It is The Third-Largest Internet Company In China

The delivery food platform is preceded only by Alibaba and Tencent

Meituan, the Chinese delivery food platform, closed at $ 89 per share on October 8th, up 5.08% from the previous day, reaching an all-time high of $ 89.25 per share with a market capitalization of $ 516.2 billion.

The evaluation currently makes Meituan the third largest Internet company listed in China after Alibaba ($ 428.3 billion) and Tencent ($ 394.3 billion).

On the other hand, Chinese Internet research and Baidu’s artificial intelligence engine closed at $ 99.53 on October 9 with a value of its US stock market at $ 34.69 billion, actually lagging behind Meituan as the fourth largest Chinese Internet giant.

Meituan and Tencent are currently the two kings of Hong Kong shares

As a Meituan pillar activity, the financial report shows that the transaction amount of food and beverage delivery activities in the second quarter of 2019 was 93.1 billion yuan, up 36.5% year-on-year; the number of food and beverage delivery orders was 2.1 billion yuan, an increase of 34.6% on an annual basis. Furthermore, the average value increased by 1.4% on an annual basis.

According to an analyst at Tiger Securities, Meituan and Tencent are currently the two kings of Hong Kong shares. The data also showed that Tencent Holdings, in recent days, recorded a turnover of 4.967 billion HK $, while the turnover of Meituan approached 3.238 billion HK $.

Categories: Business, China, Company, ECommerce

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