China's Listed Internet Companies Market Value Declines in First Quarter of 2024

Thank you TapTechNews user Xichuangjiushi for the tip! TapTechNews reported on May 13th that as of the end of March 2024, the total market value of listed Internet companies in China was 9.4 trillion yuan, a decrease of 3.1% from the previous quarter. The data shows that the proportion of market value of companies listed in Hong Kong is increasing, with the Top 10 companies accounting for 76.6% of the total market value, including Tencent, Alibaba, Pinduoduo, Meituan, and NetEase in the top five. Eight Chinese companies made the global Top 30 list, accounting for 12.54% of the total market value. In the fourth quarter of 2023, the total revenue of listed Internet companies in China reached 1.2893 trillion yuan, a year-on-year increase of 10.1%, up 2.8 percentage points from the same period last year. The social sector achieved high-speed growth, with e-commerce, social/online communities, and games ranking in the top three, accounting for 85.4% of total revenue. In the fourth quarter of 2023, the Top 10 listed Internet companies in China accounted for 84% of total revenue, a decrease of 0.6 percentage points from the third quarter of 2023, with revenue increasing by 16.3% year-on-year, higher than the overall revenue growth of listed Internet companies.

Likes