Market Cap of China's Listed Internet Firms Down 4.2% QoQ in Q1 2020
CAICT, 4/30/20
Battered by the COVID-19 pandemic in Q1 2020, total market cap of China's publicly traded Internet companies dropped 4.2% QoQ to RMB 11.10 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 Q4 | 8.00 | -11.7% |
2019 Q1 | 10.19 | 27.4% |
2019 Q2 | 9.77 | -4.1% |
2019 Q3 | 9.80 | 0.3% |
2019 Q4 | 11.59 | 18.3% |
2020 Q1 | 11.10 | -4.2% |
As of the end of Q1 2020, China had a total of 180 publicly traded internet enterprises.
Q1 2020 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 | 52% | -2.2 |
Hong Kong | 38% | 1.8 |
Mainland China | 10% | 0.4 |
As of the end of Q1 2020, 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 0.3 percentage point QoQ decrease.
China's Top 10 Internet Enterprises by Market Cap (as of Mar 31, 2020)
Rank | Company | Market Cap (RMB trln) | QoQ Change | Ticker |
---|---|---|---|---|
1 | Alibaba Group | 3.6122 | -9.0% | NYSE: BABA |
2 | Tencent Holdings | 3.2687 | 1.7% | 0700.HK |
3 | Meituan Dianping | 0.4653 | -12.2% | 3690.HK |
4 | JD.com | 0.4160 | 15.8% | Nasdaq: JD |
5 | Pinduoduo | 0.2918 | -4.9% | NYSE: PDD |
6 | NetEase | 0.2767 | 1.1% | Nasdaq: NTES |
7 | Baidu | 0.2411 | -20.9% | Nasdaq: BIDU |
8 | Alibaba Health | 0.1400 | 44.3% | 0241.HK |
9 | 360 Security Technology | 0.1292 | -18.8% | 601360.SH |
10 | Tencent Music | 0.1144 | -14.6% | NYSE: TME |
Of the world's top 30 listed internet enterprises by market cap in Q1 2020, China accounted for 8 enterprises (down one compared to Q4 2019, as Ctrip fell out of the Top 30), with a combined market cap of USD 1.30 trln, or 28.1% of the USD 4.37 trln Top 30 market cap. The USA accounted for 19 enterprises, with a combined market cap of USD 3.00 trln, or 70.4% of the Top 30 market cap. Korea, Japan, and Brazil each accounted for one enterprise, with 0.5%, 0.4%, and 0.6% of total Top 30 market cap, respectively.
In terms of revenues in the previous quarter (i.e. Q4 2019), China's listed internet enterprises recorded total revenues of RMB 707.0 bln, up 14.8% QoQ and 26.2% YoY.
China's Listed Internet Enterprises' Combined Revenues
Period | Revenue (RMB bln) | QoQ Change |
---|---|---|
2018 Q3 | 521.9 | |
2018 Q4 | 592.6 | 13.5% |
2019 Q1 | 520.4 | -12.2% |
2019 Q2 | 592.8 | 13.9% |
2019 Q3 | 615.7 | 3.9% |
2019 Q4 | 707.0 | 14.8% |
Three segments - e-commerce, social/online community, and gaming - made up a combined 82.4% of China's total listed internet enterprise revenues in Q4 2019, up 4.3 percentage points compared to Q3 2019. The enterprise services and online education segments recorded strong growth during the quarter, up 63.2% and 53.5% YoY, respectively.
China's Listed Internet Enterprise Revenues by Segment
Segment | % of China's Total Listed Internet Enterprise Revenue |
---|---|
E-Commerce | 63.8% |
Social/Online Community | 11.8% |
Gaming | 6.8% |
Search | 4.7% |
Music & Video | 4.2% |
Portal/E-mail/Online Classifieds | 2.8% |
Travel | N/A |
Information Security Services | N/A |
IT Services | N/A |
IDC/CDN | N/A |
Enterprise Services | N/A |
Education | N/A |
Real Estate | N/A |
Literature & Entertainment | N/A |
Medical & Health | N/A |
Advertising/Marketing | N/A |
Finance | N/A |
Software Tools | N/A |
E-Government | N/A |
Industry Consolidates Even More Heavily
China's top 10 listed internet enterprises by Q4 2019 revenues comprised a combined 85% of the country's total listed internet enterprise revenues during the quarter, up 5.4 percentage points compared to Q3 2019.
Keywords: Internet revenue MIIT CAICT Q1 2020 national statistics