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.
中国电商巨头京东纳斯达克(JD:JD)周三表示,与这家科技和游戏巨头续签了战略合作协议腾讯控股控股(场外交易:TCEHY),为期三年。
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.
怎么了:该公司在一份新闻声明中表示,将在三年内向腾讯控股发行价值2.2亿美元的股票,以访问后者社交媒体平台上的某些服务微信.
"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.
腾讯控股在一份声明中表示:“京东将继续在其微信平台上为公司提供显著的一级和二级接入点,提供流量支持,双方还打算继续在多个领域进行合作,包括通信、技术服务、营销和广告以及会员服务等。”
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另见:阿里巴巴-SW下跌1%,蔚来上涨4%:今天香港股市的压力是什么
"The two parties will leverage this mutually beneficial partnership to provide a better and more convenient shopping experience for users," it added.
双方将利用这一互利的合作伙伴关系,为用户提供更好、更方便的购物体验。
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.
根据一份监管备案文件,截至3月25日,腾讯控股目前持有京东集团-SW 2.7%的A类流通股。这笔交易将进一步延长其与微信所有者的现有合作关系。
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).
腾讯控股第一次投资京东集团-SW是在2014年,去年该公司将其持有的164亿美元京东股份出售给沃尔玛(纽约证券交易所代码: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%.
价格行动:周四,在香港上市的京东股价上涨了1.19%,而腾讯控股的股价下跌了约1.64%。根据Benzinga Pro的数据,京东股票周三在美国收盘上涨0.48%,而腾讯控股的场外股票上涨1.64%。
Read Next: Tencent Cuts Stake In This Chinese Edtech Firm
接下来请阅读:腾讯控股减持这家中国教育科技公司的股份
Photo via Sergei Elagin on Shutterstock
谢尔盖·埃拉金在Shutterstock上的照片
译文内容由第三方软件翻译。
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