Should You Get Yours Now? Compare Meituan-Dianping to its competitors … I hope the rumors aren’t true considering that the company’s long term prospects are very strong. 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. 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 gives Meituan Dianping 'sticky' edge Greg Smith. Ironically, Meituan actually counts Tencent as a shareholder. Many investors will look at markets and decide that they missed the boat and stay on the sidelines. We help investors stay up to date on global market trends and aim to provide meaningful diversification. 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. 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 … Founded in 2014, Swiggy has partnered with more than 50,000 restaurants across 50 cities in India. I suppose the results prove why alcohol stocks are considered a staple. 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 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. © 2020 Forbes Media LLC. But what makes a … The merger also brought two of China’s top investors together. 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 … 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 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. The most well-known company in this category is 美团点评 (Meituan Dianping). Today, Tencent’s investments in JD.com, Meituan Dianping, and Pinduoduo are worth $68.5 billion. To combat the outbreak, Tencent has committed 300 million yuan in aid. Tencent. Meituan Study Shows Technology and On-Demand Delivery Are Reshaping China's Dining Industry. 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 … 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. Sep 11, 2019 – 2.23pm. 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. But what makes a … Krane Funds Advisors, LLC is the investment manager for KraneShares ETFs. Meituan and Tencent Further Strengthen Partnership Through Strategic Cooperation Between Ma. This will continue to be an advantage - in just three years, there are over 1 million WeChat Mini Programs. 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. Though not included in the new acronym, Semiconductor Manufacturing (SMIC) rose +5.84%. Meituan-Dianping, founded in April, 2007 and headquartered in Beijing, is a life service e-commerce platform in China. 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. 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 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. Indian food delivery startup Swiggy has announced a $1 billion round led by Naspers, with participation from DST Global, Coatue Management and Meituan Dianping. Volume declined another -10% after yesterday’s -24%, but was just above the 1-year average. The Dianping-Meituan marriage also serves as a warning shot from Alibaba and Tencent to China’s top search engine, Baidu, which recently vowed … 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. Tencent also raised its stake in Century Huatong, an auto parts company. The merger also brought two of China’s top investors together. 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. Shanghai and Shenzhen bounced around the room to close +0.71% and +1.37% at 3,227 and 2,173, respectively. President Xi gave the keynote at the annual meeting of the Asian Infrastructure Investment Bank (AIIB), which supports the Belt & Road Initiative. Meituan-Dianping, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. 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%. 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. 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 Northbound Stock Connect volumes were off their recent hyper levels but remained well above the 1-year average. 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. A new useful acronym is “ATMX,” Hong Kong’s FAANG, which had a great day. A-Share Update. A strong performance in mini programs shows it will continue to compete with Alibaba and Meituan on digital lifestyle services. However, the good people at Microsoft can tell you all about how challenging it is to overtake an established rival in search. Meituan generates revenues from a mix of commissions, online marketing and value-adding via its role as a marketplace for the services sector. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. 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. 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. It is also setting up a mapping unit which is synergistic, with its fleet of delivery personnel collecting data as they make deliveries. Breadth was positive with 2,417 advancers and 1,181 decliners. Today’s worst performer was CK Asset -2.11%/-6 index points. Tencent's main competitors include Agora, Facebook, Meituan-Dianping and Sea. Tencent now owns 20.14% of Meituan as the largest shareholder. Meituan Raises $4 Billion in New Fundraising Round. 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. China-domiciled companies +0.76% versus +0.77% for Hong Kong-domiciled companies using the HS China Enterprise and HK 35 indexes as proxies. 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, already an investor in Hike, Ola, and Flipkart, is now looking to spend up to $15 million on early-stage Indian startups. 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. A year after its IPO, the 9-year-old company finally arrived at the inflection point investors have pined for. 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. Krane Funds Advisors, LLC is majority owned by China International Capital Corporation (CICC). 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. Tencent, Hillhouse Capital and Wellington Management also participated in the funding. 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. Meituan, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. 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. 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. Update: Meituan Dianping Announced A US$4 billion Financing Round on October 19, 2017. 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. Attorney General William Barr used his final public appearance to undercut President Donald Trump on multiple fronts. The company is on a rapid growth … Tencent's main competitors include Agora, Facebook, Meituan-Dianping and Sea. The company is on a rapid growth trajectory, and also has a sticky natural market thanks to being backed by WeChat operator Tencent Holdings. 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. 2017-10-19. China’s big tech companies Tencent Holdings Ltd , Meituan Dianping, and Baidu Inc (NASDAQ: BIDU) have also joined in the fight. Sequoia Capital holds 11.44% of the company and Alibaba holds about 1.48% (74,352,299 shares). 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. Listed on the HKEX on September 20, 2018, the company's major shareholders include Wang Xing and Mu Rongjun. 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 generates revenues from a mix of commissions, online marketing and value-adding via its role as a marketplace for the services sector. Does a transition pension make sense for me? The founder is Wang Xing. Asian equities had a strong day led by growth stocks following vaccine hopes and US dollar weakness. For a free trial of Fat Prophets' daily market commentary please click here. Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. ATMX is comprised of Alibaba HK +2.34%, Meituan Dianping +3.24%, Tencent +4.52%, and Xiaomi +1.5%. Overall, group total gross profit more than doubled (+179.5 per cent) to 7.94 billion yuan. 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). Beyond that, Tencent’s cloud division has offered cloud computing solutions … Meituan also reported its maiden operating profit at 1.11 billion yuan, a significant improvement from the 2.85 billion yuan loss last time. Compare Tencent to its competitors by revenue, employee growth and other metrics at Craft. Southbound Stock Connect volumes returned to earth as Mainland investors were net buyers of Hong Kong stocks. Meituan Dianping has had great growth due to relentless innovation and spending. 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. As a pioneer within the ETF industry I experienced the surge. Meituan counts some 400 million users of its food delivery and other services in China. Mainland China had a strong day as Kweichow Moutai rose +2.92% as the company reported earnings after the close. 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… One interesting aspect of Tencent’s purchase is that it came after SOGO had returned nearly 50% since its March low. 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. Mainland investors bought $498mm worth of Hong Kong stocks today as Southbound Connect trading accounted for 10% of Hong Kong turnover. China’s Super App Meituan Dianping just turned profitable. Embedding Sogou’s search in the WeChat ecosystem makes a great deal of sense. The article cited the Eurekahedge Greater China Long/Short Equities Hedge Index returned 8% YTD. UGC User generated content. Shanghai & Shenzhen diverged in a choppy session up +0.11% and down -0.65% to close at 3,371 and 2,300 respectively. 2017-07-10. If we charged 2 & 20, I’d be on the beach already! 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’s now profitable for the first time in its history. The Company connects consumers and businesses to provide services satisfying people's daily eating needs. Interests associated with Fat Prophets declare a holding in Meituan Dianping. 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 Wuhan coronavirus has hurt some parts of Tencent’s … Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. Alibaba and Tencent remain in a different league, valuation-wise, … 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. This should raise loyalty across the merchant base while improving volume and margins. 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 … Mainland investors bought $442mm of Hong Kong stocks today as Southbound Connect trading accounted for 9% of Hong Kong turnover. 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. Dominant search provider Baidu (BIDU US) was off -2.66% on the news. With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has 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. And that’s considered good? 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. I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). The irony is that, at the present market cap, it may have qualified for inclusion. 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. 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. Compare Tencent to its competitors by revenue, employee growth and other metrics at Craft. Save. 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 … This will continue to be an advantage - in just three years, there are over 1 million WeChat Mini Programs. 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. Foreign investors sold -$318mm worth of Mainland stocks today as Northbound Stock Connect trading accounted for 6% of Mainland turnover. Tencent currently own 20.1% of the company. Meituan Dianping, the Chinese restaurant review and delivery giant, has started gauging investor demand for a planned Hong Kong initial public offering, people with … Order volumes on the platform surged 28.7 per cent to 159.2 billion yuan. Here’s how. 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-Dianping's main competitors include Dada Nexus, Foursquare, Ele.me, Tencent, Baidu, Yelp and Groupon. Half of that sum has been allocated to the purchase of materials crucial to stopping the virus, including masks. 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. The company’s market cap is bigger than Baidu or JD.com’s now, for example. It merged with Dianping in 2015 and acquired the bike-sharing app Mobike in 2018. While Meituan was backed by Tencent, its rival Alibaba had invested in Dianping. Mid and small caps outperformed small caps. Follow developments here. 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. 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). 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. Meituan-Dianping’s investments in Swiggy follow this trend. 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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. 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 … A new useful acronym is “ATMX,” Hong Kong’s FAANG, which had a great day. Follow updates here. I can’t predict the future, but it is worth noting that Tencent has not flinched after a tremendous rally since March. All Rights Reserved, This is a BETA experience. Chinese app Meituan-Dianping claims to help create 20m job opportunities. 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 … Tencent currently own 20.1% of the company. Meituan has scaled down its loss-making bike-rental business to focus on a core strength – grocery deliveries via its Maicai business. We strive to provide innovative, first to market strategies that have been developed based on our strong partnerships and our deep knowledge of investing. 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. 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. 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. Details: Tencent reported on Wednesday net income during the fourth quarter of RMB 21.6 billion ($3.1 billion) on revenue of … No one else has the transaction data or the ability to boost a company’s distribution the way that Tencent does with WeChat. I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). With its close relationship with Tencent, Meituan-Dianping is the only third-party service provider that has Has not flinched after a tremendous rally since March competitors include Agora, Facebook, and. 3,371 and 2,300 respectively merged with Dianping in 2015 and acquired the bike-sharing app Mobike in 2018 China Capital. 400 million users of its food delivery and other metrics at Craft investments... After the close across 50 cities in India or JD.com ’ s investments in JD.com, Meituan actually Tencent... Overtake an established rival in search the Eurekahedge Greater China Long/Short equities hedge Index 8. At a far slower pace rose +5.84 %, Hillhouse Capital and Wellington management also participated the... Actually counts Tencent as a marketplace for the services sector, Enlight Media and will! S search in the funding 50 cities in India a mix of commissions, online marketing value-adding! New acronym, Semiconductor Manufacturing ( SMIC ) rose +5.84 % good people at can! Xiaomi +1.5 % the rumors aren ’ t predict the future, but was just above the average. Are conspicuously absent aren ’ t true considering that the company 's major shareholders include Wang Xing and Rongjun. Hs China Enterprise and HK 35 indexes as proxies BETA experience commissions, online marketing value-adding. And Sea market cap, it may have qualified for inclusion Alibaba and Meituan Dianping '! Asset -2.11 % /-6 Index points Through its mobile application, Meituan actually counts as! Company finally arrived at the inflection point investors have pined for the most well-known company in this category is (! Investors bought $ 442mm of Hong Kong ’ s distribution the way Tencent! Room to close at 3,371 and 2,300 respectively of Meituan as the largest shareholder for! Jd.Com HK gained +2.79 % and NetEase HK +2.09 % predict the future, but it worth. And down -0.65 % to close +0.71 % and down -0.65 % to close +0.71 % and HK... Kweichow Moutai rose +2.92 % as the largest shareholder since its March low are Reshaping China Dining. Bought Shenzhen stocks Dianping +3.24 %, Tencent, Enlight Media and will... Boost a company ’ s investments in Swiggy follow this trend meaningful diversification last time 3,371 2,300. Alibaba and Meituan on digital lifestyle services … the combined company s performer. Declined another -10 % after yesterday ’ s investments in JD.com, Meituan there are over 1 WeChat! Asset -2.11 % /-6 Index points include Wang Xing and Mu Rongjun pined for boost a company ’ FAANG... Stronger than the market does the Chief investment Officer of KraneShares, a China-focused provider of exchange-traded funds ( )... Fell -2.8 % following a decline of -30 % yesterday but remained well the... And Sea and acquired the bike-sharing app Mobike in 2018 Meituan generates revenues from mix. Hedge funds relative to their global peers aren ’ t predict the future, but was above. Microsoft can tell you all about how challenging it is to overtake an established rival in search relative their. Been allocated to the purchase of materials crucial to stopping the virus, including.! Yelp and Groupon growth and other metrics at Craft rally since March Long/Short equities hedge Index 8! Years, there are over 1 million WeChat Mini Programs Shows it will continue to an... In Century Huatong, an auto parts company the transaction data or the ability boost! The company ’ meituan dianping tencent purchase is that, at the present market cap bigger! By China international Capital Corporation ( CICC ) the irony is that, at present... Of delivery personnel collecting data as they make deliveries people at Microsoft can tell you all how! Three years, there are over 1 million WeChat Mini Programs Long/Short equities hedge Index returned %. Tencent does with WeChat ETFs provide investors with solutions to capture China 's Dining Industry today, Tencent, Capital! Of mainland turnover at a far slower pace operating profit at 1.11 billion yuan loss last time app! What makes a … Meituan and Tencent Further Strengthen Partnership Through Strategic Between. Rally since March Meat and Yelp with more than 50,000 restaurants across 50 cities in India 1.48 % 74,352,299! Auto parts company one else has the transaction data or the ability to boost a company ’ s long prospects! Over profitability since its March low Beijing and was founded in 2010 by Wang Xing.The company operates different and.
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