Market Cap of China's Listed Internet Firms Up 18.3% QoQ in Q4 2019
CAICT, 1/14/20
Buoyed by a general rise in the global stock market in Q4 2019, total market cap of China's publicly traded Internet companies increased 18.3% QoQ to reach a record-high RMB 11.59 trln, reports the Policy and Economics Research Institute of the China Academy of Information and Communications Technology (CAICT), a department of China's Ministry of Industry and Information Technology (MIIT).
Total Market Cap of China's Publicly Traded Internet Firms
Period | Market Cap (RMB Trln) | QoQ Change |
---|---|---|
2018 Q3 | 9.06 | -8.7% |
2018 Q4 | 8.00 | -11.7% |
2019 Q1 | 10.19 | 27.4% |
2019 Q2 | 9.75 | -4.3% |
2019 Q3 | 9.80 | 0.5% |
2019 Q4 | 11.59 | 18.3% |
As of the end of Q4 2019, China had a total of 176 publicly traded internet enterprises.
Q4 2019 Breakdown of Listed Chinese Internet Enterprise Market Cap by Region
Region Where Listed | % of Total Listed Chinese Internet Enterprise Market Cap | QoQ Change (ppts) |
---|---|---|
USA | 54.8% | 2.1 |
Hong Kong | 35.8% | -1.1 |
Mainland China | 9.4% | -1.0 |
As of the end of Q4 2019, China's top 10 listed internet enterprises by market cap comprised a combined 81% of China's total listed internet enterprise market cap, representing a 1.0 percentage point QoQ increase.
China's Top 10 Internet Enterprises by Market Cap (as of Dec 31, 2019)
Rank | Company | Market Cap (RMB trln) | QoQ Change | Ticker |
---|---|---|---|---|
1 | Alibaba Group | 3.9699 | 1.5% | NYSE: BABA |
2 | Tencent Holdings | 3.214 | -3.6% | 0700.HK |
3 | Meituan Dianping | 0.5302 | 20.8% | 3690.HK |
4 | JD.com | 0.3589 | -3.4% | Nasdaq: JD |
5 | Pinduoduo | 0.3067 | 60.7% | NYSE: PDD |
6 | Baidu | 0.3055 | -10.3% | Nasdaq: BIDU |
7 | NetEase | 0.2737 | 7.1% | Nasdaq: NTES |
8 | 360 Security Technology | 0.159 | 9.8% | 601360.SH |
9 | Ctrip | 0.1377 | -18.2% | Nasdaq: CTRP |
10 | Tencent Music | 0.1339 | -12.4% | NYSE: TME |
Of the world's top 30 listed internet enterprises by market cap in Q4 2019, China accounted for 9 enterprises (unchanged compared to Q3 2019), with a combined market cap of USD 1.33 trln, or 28.5% of the USD 4.65 trln top 30 market cap. The USA accounted for 18 enterprises, with a combined market cap of USD 3.25 trln, or 69.9% of the top 30 market cap. Korea, Japan, and Brazil each accounted for one enterprise, with 0.6%, 0.4%, and 0.6% of total top 30 market cap, respectively.
In terms of revenues in the previous quarter (i.e. Q3 2019), China's listed internet enterprises recorded total revenues of RMB 615.7 bln, up 3.9% QoQ and 24.9% YoY.
China's Listed Internet Enterprises' Combined Revenues
Period | Revenue (RMB bln) | QoQ Change |
---|---|---|
2018 Q2 | 470.8 | |
2018 Q3 | 493.0 | 4.7% |
2018 Q4 | 509.3 | 3.3% |
2019 Q1 | 520.4 | 2.2% |
2019 Q2 | 592.8 | 13.9% |
2019 Q3 | 615.7 | 3.9% |
Three segments - e-commerce, social/online community, and gaming - made up a combined 78.1% of China's total listed internet enterprise revenues in Q3 2019, down 1.9 percentage points compared to Q2 2019. The online medical & health segment continued its strong growth trend, with Q3 2019 revenue up 98% YoY.
China's Listed Internet Enterprise Revenues by Segment
Segment | % of China's Total Listed Internet Enterprise Revenue |
---|---|
E-Commerce | 57.5% |
Gaming | 11.8% |
Social/Online Community | 8.8% |
Search | 5.4% |
Music & Video | 4.2% |
Portal/E-mail/Online Classifieds | 3.0% |
Travel | 2.8% |
IDC/CDN | N/A |
Literature & Entertainment | N/A |
Information Security Services | N/A |
IT Services | N/A |
Software Tools | N/A |
Enterprise Services | N/A |
Advertising/Marketing | N/A |
Medical & Health | N/A |
Education | N/A |
Finance | N/A |
Real Estate | N/A |
E-Government | N/A |
Industry Remains Highly Consolidated
China's top 10 listed internet enterprises by Q3 2019 revenues comprised a combined 79.6% of the country's total listed internet enterprise revenues during the quarter, down 2.8 percentage points compared to Q2 2019, but up 1.3 percentage points compared to Q3 2018.
Keywords: Internet MIIT CAICT Q4 2019 national statistics