The Haney Group a boutique equity research and management firm based in Hong Kong founded by a diverse private wealth consortium of financial professionals, with a combined knowledge of the stock markets, tax legislation, legal compliance and market analysis. Priding themselves in giving the very best service to their institutional investors, high net worth individuals and private investors today commented on the largest internet company in China, the industry giant Tencent Holdings Ltd having continued its aggressive and unparallel growth with significant investment into the company behind taxi booking app Didi Taxi. A Tencent spokesperson revealed yesterday, the investment by the company was in line of a $100 million raising exercise by Didi taxi.

Tencent, which joined the exclusive group of six Chinese companies valued at more than $100 billion in September 2013, has been among the fastest growing companies in history since its formation in 2004. The internet giant is the principle player in the massive Chinese gaming sector, an area in which it currently receives 52% of its profits. The secondary main generating earner for Tencent is the company’s messenger and support app WeChat commonly referred to as Weixin within China, which offers among many other services an online payment function.

“Asia’s largest internet company’s investment in Didi is not a random occurrence, Didi has grown a large user base and if Tencent can successfully integrate this with their WeChat payment options then it’s a winning combination for them. A lot of the company's acquisitions of late have been geared toward making WeChat an all encompassing service, used either separately or in partnership with other popular mobile internet services,” commented Au Man Yee, Associate and Product Specialist at The Haney Group.

The Haney Group anticipate further growth and product integration as with the Beijing based, Xiaoju Keji Didi Dache Co, that developed their Didi Taxi app in conjunction with up to 35’000 taxi drivers in 32 Chinese cities to roll out its booking service, which had by December last year average bookings of 350’000 trips and a growing user base of 22 million people. Tencent Holdings has reached an ROI of 95.18% for the year to date.

“There should be a very good fit between Tencent and Didi Taxi, one that will encourage growth for both parties. The internet, mobile and telecommunications company will start to look farther afield from its gaming monopoly as they begin to come under competition in that arena from the likes of Alibaba and others, especially in light of recent changes in Chinese law regarding the sale of gaming consoles,” added Au Man Yee the Associate and Product Specialist at The Haney Group.