Chinese Tech Giant Tencent Receives License to Sell Third-Party Mutual Funds

Chinese Tech Giant Tencent Receives License to Sell Third-Party Mutual Funds

Chinese technology giant Tencent has successfully acquired the license to sell third-party mutual funds, through its affiliated company Tengan Funds Sales (Shenzhen).  The license is issued by Shenzhen Securities Regulatory Bureau.  With the license, it is now able to build financial service platforms to compete against rivals Alibaba Group and Baidu.

“ Tencent Acquires Mutual Funds License, To Compete against Alibaba Group & Baidu “

Prior, Tencent can only act as an online bridge between investors and fund distributors via its online wealth management platform qian.qq.com and its messaging platform Wechat which has more than 980 million users.

Source: SCMP, CGTN

 

Video:

 

Video:

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

Tencent Becomes Asia’s First Company to Cross $500 Billion in Market Value

Tencent Becomes Asia’s First Company to Cross $500 Billion in Market Value

Tencent becomes the first Asian company to top $500 billion in market value, hitting a high of HK$437.40 ( 22nd November 2017).  This gives Tencent a market value of HK$4.15 trillion or $532 billion at an exchange rate of USDHKD 7.69.

” Tencent Crosses $500 Billion in Market Value, Becomes Asia’s Most Value Company “

The only companies with more than $500 billion market value in the world are Apple, Alphabet, Microsoft and Amazon.  Tencent, a leading provider of internet value added services in China, was founded in 1998 and went public in 2004.

Source: South China Morning Post, Tech Crunch, CNN Money

 

Video:

 

Video:

 

Video:

 

About Tencent

Founded in November, 1998, Tencent is a leading provider of Internet value added services in China. Since its establishment, Tencent has maintained steady growth under its user-oriented operating strategies. On June 16, 2004, Tencent Holdings Limited (SEHK 700) went public on the main board of the Hong Kong Stock Exchange.

Visit: Tencent

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

Tencent Invests $2 Billion Buys 12 Percent Stake in Snap Inc

Tencent Invests $2 Billion Buys 12 Percent Stake in Snap Inc

China tech giant Tencent have bought 145.8 million non-voting shares ($2 billion) in Snap Inc, presenting a 12% shareholding in the US company.  The private messaging company went public on 2nd March 2017 at $17, reached a high of $29.44 the next day and 8 months later, is currently trading at $12.76 (10th November 2017).

“Chinese Tech Giant Tencent Invest $2 Billion, Buys 12 Percent Stake in Snap Inc”

Tencent had also developed the hugely popular messaging platform WeChat, with almost 1 billion users.  Snapchat has 178 million daily active users.

Source: South China Morning Post, Reuters, CNN

 

Video: IPO Live at the NYSE

 

Video: What is Snapchat

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

Tech Executive’s Pay in Tencent Surpass Apple & IBM

Tech Executive’s Pay in Tencent Surpass Apple & IBM

Tencent paid an unidentified individual HK$311 million (US$40 million) in pay and bonus last year, a 13% increase from its highest 2015 renumeration of HK$274 million. That exceeds the HK$201 million that CK Hutchison Holdings paid last year to its co-managing director Canning Fok Kin-ning.

“During its 18th birthday last November, the company gave 300 shares to each employee, valued at a combined HK$1.7 billion.”

~ South China Morning Post

The renumeration has also exceeded other US technology companies, including Amazon, IBM, Apple, Twitter and Intel. Founded in 1998, Tencent is known to be generous. During its 18th birthday last November, the company gave 300 shares to each employee, valued at a combined HK$1.7 billion.

Related Report: South China Morning Post

About Tencent

Founded in November, 1998, Tencent is a leading provider of Internet value added services in China. Since its establishment, Tencent has maintained steady growth under its user-oriented operating strategies. On June 16, 2004, Tencent Holdings Limited (SEHK 700) went public on the main board of the Hong Kong Stock Exchange.

Visit: Tencent

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

Tencent Surpass Wells Fargo to Become 10th Largest Company

Tencent Surpass Wells Fargo to Become 10th Largest Company

Tencent, the Chinese tech company has passed Wells Fargo to become the world’s tenth most valuable public company. The stock has rose 43% in the past year and more than 20% in 2017 alone to reach $279 billion. This has allowed it to pass Wells Fargo’s $275 billion market capitalization.

“Six of the top 10 companies by market value are now technology including the top four.”

~ Bloomberg

Tencent has joined the likes of Apple Inc and Alphabet Inc in the ranks of the world’s largest publicly traded companies. Six of the top 10 companies by market value are now technology including the top four.

Related Reports: Fortune, Bloomberg

 

About Tencent

Founded in November, 1998, Tencent is a leading provider of Internet value added services in China. Since its establishment, Tencent has maintained steady growth under its user-oriented operating strategies. On June 16, 2004, Tencent Holdings Limited (SEHK 700) went public on the main board of the Hong Kong Stock Exchange.

Visit: Tencent

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency