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Summary
- The market capitalization of Tencent is around HK$5,646.71 billion.
- JD's net revenue for the first quarter of 2021 grew by almost 39%.
- Tencent's operating profit was around RMB2.8 billion (US$6.5billion), up 20% YoY.
Many Chinese companies are listed on the US stock exchanges like Tencent Music Entertainment Group (TME), owned by Tencent Holdings Ltd., JD.com, Inc., Alibaba Group, and EV carmaker NIO.
As more and more Chinese companies expand their businesses overseas, the American market remains one of their top destinations for marketing their products. A US listing gives them the chance to interact more closely with their potential customers.
Let us explore how these two Chinese tech stocks have performed.
Tencent Holdings Ltd. (SEHK: 0700)
Founded in 1998, Tencent is one of China’s leading multinational technology companies. One of its companies, Tencent Music Entertainment Group (NYSE:TME), is listed on the New York Stock Exchange. Currently, the market cap of Tencent Holdings Ltd. is about HK$5,646.71 billion.
Tencent Holdings’ revenue rose 25% to RMB135.3 billion in Q1 ended March 31, 2021. Income from online games grew 17% compared to the year-ago period. Tencent’s video games have been popular both at home and abroad and are one of the primary drivers of revenue growth.
Tencent' operating profit was around RMB2.8 billion (US$6.5 billion), up 20% YoY. Tencent reported a sharp increase of 65% in quarterly profit. Tencent is the largest gaming firm by revenue and earned a profit of RMB47.77 billion (about US$7.42 billion).
The company operates through three main segments:
- Mobile and online games, and internet and mobile platforms
- Online advertising
- Payment and cloud-related services
Tencent' earnings per share were RMB3.481, and diluted earnings per share were RMB3.415. The EBITDA of Tencent was around RMB49.4 billion, which has a 17% YoY growth.
TME stock was trading at US$15.375 at 3:22 pm ET on May 24, up 1.62% from the previous close.
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Source: Pixabay.
JD.com, Inc. (NASDAQ:JD)
JD is a technology-driven e-commerce company, and it has been working since June 1998. Its Q1 net revenues were up 39% to RMB203.2 billion. JD's income from services soared 73.1% to around RMB27.9 billion. Income from operations was RMB1.7 billion. JD's Non-GAAP net income attributable to ordinary shareholders for Q1 was RMB4 billion (about US$0.6 billion).
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JD.com and Louis Vuitton had launched a partnership last month that will allow the fashion house to directly connect with JD.com's premium customers and provide them access to the brand while further enhancing the luxury shopping experience.
Its Q1 diluted net income for each ADS was about RMB2.25. JD's non-GAAP diluted net income per ADS was RMB2.47. Its market cap is around US$113.416.
JD stock was priced US$71.84 at 3:22 pm ET on May 24, down 1.25% from the previous close.
