Beyond Ali! Tencent into China's market value of the first technology company

According to CNBC Financial News, Tencent has surpassed Alibaba.com and has become the highest technology company in China. After Tencent released a strong quarterly earnings report on Wednesday, the stock price rose by more than 6% to a record high. Because of this, as of late in Beijing time yesterday, Tencent's market value is 249 billion US dollars, higher than Alibaba's 246 billion US dollars. At the close of the day, Tencent's market value was still higher than Ali's although the stock price fluctuates.

Tencent financial data show that due to the growth of online games and advertising business, Tencent’s revenue was strong in the previous quarter. In the second quarter as of the end of June, the company's profits rose by 47% year-on-year to 10.9 billion yuan (about 1.6 billion US dollars).

Currently, Tencent is the largest in China's Internet giant BAT, but globally, compared with Alibaba and Baidu, Tencent’s international influence lags slightly behind both.

Some analysts said: "The revenue has grown substantially, the platform has grown rapidly, and the Chinese versions of Twitter and Facebook are running. Investors hope that similar to Facebook, Tencent can turn active users into revenue."

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