Will ByteDance become the Chinese company with the largest market capitalization after its IPO?
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In recent days, two sets of figures regarding ByteDance have been circulating in the market, gaining increasing significance: One relates to revenue – in the first half of 2026, revenue amounted to 1200 billion US dollars, slightly exceeding Meta's concurrent value of 1171 billion US dollars; the other relates to valuation – the valuation in secondary market transactions is already approaching 6000 billion US dollars, with the common reference range being between 5000 and 6000 billion US dollars, while Meta's market capitalization in the same period is 1.7 trillion US dollars. A natural question thus arises: Will this giant, never before listed on the stock exchange, replace Tencent as the company with the highest market capitalization in mainland China and even across all of China after its entry into the capital market? According to a report by The Information on September 15, ByteDance's revenue in the first half of 2026 amounted to 1200 billion US dollars, representing an annual growth of approximately 30%. The growth engine primarily stems from TikTok's international advertising and e-commerce business. At the profit level, however, the picture changes abruptly: Net profit fell to 200 billion US dollars, corresponding to a single-digit percentage decline compared to the previous year, and the net profit margin dropped from previously over 20% to around 16.7%. Source...
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