Why China's JD Is Giving Rival Tech Giant Tencent An Additional $220M Stake
Why China's JD Is Giving Rival Tech Giant Tencent An Additional $220M Stake
Chinese e-commerce giant JD.Com Inc (NASDAQ:JD) on Wednesday said that it renewed its strategic cooperation agreement with the tech and gaming giant Tencent Holdings (OTC:TCEHY) for a period of three years.
What Happened: The company, in a press statement, said it would issue shares worth $220 million to Tencent over a three-year period to access certain services on the latter's social media platform WeChat.
"Tencent will continue to offer the Company prominent Level I and Level II access points on its Weixin platform to provide traffic support, and the two parties also intend to continue to cooperate in a number of areas, including communications, technology services, marketing, and advertising, and membership services, among others," JD said in a statement.
See Also: Alibaba Falls 1%, Nio Gains 4%: What's Weighing On Hong Kong Stocks Today
"The two parties will leverage this mutually beneficial partnership to provide a better and more convenient shopping experience for users," it added.
According to a regulatory filing, Tencent currently owns 2.7% of outstanding Class A shares of JD.com as of March 25. The deal will further extend its existing partnership with the WeChat owner.
Tencent first invested in JD.com in 2014, and last year the company sold its $16.4 billion stakes in JD to Walmart Inc (NYSE:WMT).
Price Action: The Hong Kong-listed stock of JD gained 1.19% during the trading session on Thursday, while Tencent cracked about 1.64%. According to data from Benzinga Pro, JD shares closed 0.48% higher in the U.S. on Wednesday, while OTC shares of Tencent gained 1.64%.
Read Next: Tencent Cuts Stake In This Chinese Edtech Firm
Photo via Sergei Elagin on Shutterstock
Chinese e-commerce giant JD.Com Inc (NASDAQ:JD) on Wednesday said that it renewed its strategic cooperation agreement with the tech and gaming giant Tencent Holdings (OTC:TCEHY) for a period of three years.
中國電商巨頭京東納斯達克(JD:JD)週三表示,與這家科技和遊戲巨頭續簽了戰略合作協議騰訊控股控股(場外交易:TCEHY),為期三年。
What Happened: The company, in a press statement, said it would issue shares worth $220 million to Tencent over a three-year period to access certain services on the latter's social media platform WeChat.
怎麼了:該公司在一份新聞聲明中表示,將在三年內向騰訊控股發行價值2.2億美元的股票,以訪問後者社交媒體平臺上的某些服務微信.
"Tencent will continue to offer the Company prominent Level I and Level II access points on its Weixin platform to provide traffic support, and the two parties also intend to continue to cooperate in a number of areas, including communications, technology services, marketing, and advertising, and membership services, among others," JD said in a statement.
騰訊控股在一份聲明中表示:“京東將繼續在其微信平臺上為公司提供顯著的一級和二級接入點,提供流量支持,雙方還打算繼續在多個領域進行合作,包括通信、技術服務、營銷和廣告以及會員服務等。”
See Also: Alibaba Falls 1%, Nio Gains 4%: What's Weighing On Hong Kong Stocks Today
另見:阿里巴巴-SW下跌1%,蔚來上漲4%:今天香港股市的壓力是什麼
"The two parties will leverage this mutually beneficial partnership to provide a better and more convenient shopping experience for users," it added.
雙方將利用這一互利的合作伙伴關係,為用户提供更好、更方便的購物體驗。
According to a regulatory filing, Tencent currently owns 2.7% of outstanding Class A shares of JD.com as of March 25. The deal will further extend its existing partnership with the WeChat owner.
根據一份監管備案文件,截至3月25日,騰訊控股目前持有京東集團-SW 2.7%的A類流通股。這筆交易將進一步延長其與微信所有者的現有合作關係。
Tencent first invested in JD.com in 2014, and last year the company sold its $16.4 billion stakes in JD to Walmart Inc (NYSE:WMT).
騰訊控股第一次投資京東集團-SW是在2014年,去年該公司將其持有的164億美元京東股份出售給沃爾瑪(紐約證券交易所代碼:WMT)。
Price Action: The Hong Kong-listed stock of JD gained 1.19% during the trading session on Thursday, while Tencent cracked about 1.64%. According to data from Benzinga Pro, JD shares closed 0.48% higher in the U.S. on Wednesday, while OTC shares of Tencent gained 1.64%.
價格行動:週四,在香港上市的京東股價上漲了1.19%,而騰訊控股的股價下跌了約1.64%。根據Benzinga Pro的數據,京東股票週三在美國收盤上漲0.48%,而騰訊控股的場外股票上漲1.64%。
Read Next: Tencent Cuts Stake In This Chinese Edtech Firm
接下來請閲讀:騰訊控股減持這家中國教育科技公司的股份
Photo via Sergei Elagin on Shutterstock
謝爾蓋·埃拉金在Shutterstock上的照片
譯文內容由第三人軟體翻譯。
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