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Regarding the topic of investment cost and value of equity investment held by Tencent, I wrote an article some time ago: How does Tencent return on investment & external investment, recovery data summary , this article counts Tencent’s current external equity investment (listed + Unlisted), the investment cost is about 458.3 billion yuan, and the total value of these investments at the end of June is about 1 trillion yuan.
The list and shareholding ratio of listed companies invested by Tencent are shared online, but many statistics are obviously wrong. So I recently went through the annual or interim reports of many companies in detail, and counted all the data I could find. However, some companies cannot obtain data in their financial reports because of their low shareholding ratio. Until yesterday, I obtained some highly credible data from friends in the overseas investment circle, and completed the data on Tencent’s investment in foreign listed companies. Now I will share it with you.
1. First give you an intuitive summary of the data:
Note 1: The market value is in RMB, calculated at the following exchange rates
1 HKD=0.915 RMB; 1 USD=7.18 RMB;
1 euro = 7.20 yuan; 1 yuan = 197.72 won
Note 2: In order to verify how big the statistical error is, I found the data from Tencent’s mid-term report: the market value of listed companies with external investment is 601.9 billion, and my statistics here are 697.8 billion. I roughly checked the exchange rate at the end of June: 1 US dollar = 6.7 RMB. If today’s exchange rate is calculated at the end of June, the market value of listed investments is about 622.3 billion, and the error is about 3%, so the overall statistics are still relatively accurate.
Note 3: As can be seen from the above figure, the overall market value of Tencent’s holdings has fallen by 29%. Among them, Hong Kong stocks fell by 39%, far ahead of other markets; Korean stocks and US stocks also fell significantly; A shares did not fall unexpectedly, and French stocks even had positive returns (the number of shares held is too small, the reference is relatively low Small). Through these 67 samples, it probably also reflects the volatility of major markets in recent months.
2. Details of A-share holdings:
A-shares hold 15 companies, most of which are invested after IPO. The current market value is 21.1 billion. The top three holdings are China Unicom, Kingsoft Office, and Century Huatong. Due to time constraints, I have not had time to count the cost of Tencent’s shareholding. However, I have roughly estimated that Tencent’s A-share investment has lost blood. . . I remember Century Huatong quite clearly. The total investment of two shares was 5.8 billion, the current market value was 2.74 billion, and it lost 50%+ in more than 4 years.
3. Details of Hong Kong stock holdings:
Hong Kong stocks hold 24 companies, some of which are equity investments before listing, and some are bought after listing. The current market value is 194.9 billion yuan. The top three holdings are Meituan, Kuaishou and Shell. Since many stocks with heavy holdings are bought at the private placement stage, the yield of Hong Kong stocks should be very high. For example, the investment cost of Meituan is about 20 billion yuan, and the current market value is about 125 billion yuan, and the rate of return is 5 times.
4. U.S. stock & French stock position details:
In view of the fact that the euro gold has fallen to about the same level as the US dollar, they are put together for statistics.
US stocks + French stocks hold 23 companies, including 21 US stocks and 2 French stocks. Most of them are purchased in the private placement stage before listing, and a small part are purchased after IPO. The current market value is 259 billion yuan, and the top three holdings are Pinduoduo, Universal Music (UMG), and SEA. The cost of Tencent’s investment in Pinduoduo is about 10 billion, and the yield is expected to be more than 5 times; not to mention SEA, the cost of investing ten years ago is almost ignored, and the expected yield is 100 times if it has been cashed out. There is. Another thing to talk about is Tesla. From 2016 to 2017, Tencent invested a total of 1.7 billion US dollars to buy 5% of Tesla’s shares, but it is said that almost all of them were sold 20 years ago, and now this is worth 35 billion US dollars. , with a high point value of $60 billion. . . It seems that people always have regrets, there is Li Zekai before, and there is Xiao Ma later. .
5. Details of Korean stock holdings:
Note: The financial report of the Korean stock market is quite difficult to find, but I really struggled to download the financial report. However, the Korean financial report only discloses the shares held by major shareholders, and the shares held by other shareholders are hardly disclosed, so I did not appear in any financial report in the above picture. Find Tencent’s holdings. Therefore, the shareholding ratio of Netmarble and Krafton I directly used the data of overseas friends; the online news data directly used by Kakao bank and Kakao games; Kakao Tencent disclosed the investment cost and shareholding ratio (13.8%), but they are all ten What happened a few years ago will be diluted even if there is no reduction in holdings after the listing, so just use 10% to calculate it. Note: The stock price and market value of Korean stocks in the above picture have been converted into RMB according to the exchange rate.
Tencent’s investment in South Korea should be more than these. I have only collected these five companies. The current market value is about 22 billion, which is similar to the amount of A shares. Although the Korean stock position is not too large, it is of great significance to Tencent. The two major money printing machines of Chicken and DNF, as well as countless other Korean-introduced games, have historically brought Tencent far more benefits than Tencent’s holdings and investment. cost. The real yield is estimated to be the highest among all Tencent investments.
This time, the statistics of listed companies are shared here, and we will see if the listed investment cost and unlisted company data can be collected in the future. If they can be collected, we will continue to share them. Welcome to pay attention.
$ Tencent Holdings (00700)$ $ Kuaishou-W (01024)$ $ New Oriental Online (01797)$ @Today’s Topic
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