Momo released the second quarter earnings report.
Big company
The news says that Chinese antitrust agencies are investigating Tencent music
According to people familiar with the matter, Tencent Music Entertainment Group is accepting an investigation by China’s anti-monopoly agency, which may terminate the exclusive license agreement between Tencent Music Entertainment Group and many record companies around the world. Informed sources also revealed that the State Administration of Markets launched an investigation in January and is reviewing Tencent Music’s transactions with a number of record companies, including Universal Music Group, Sony Music Entertainment and Warner Music Group. All three major record companies will sell the exclusive rights to most of their music to Tencent Music. (Bloomberg)
Momo’s second quarter revenue was $4,152.6 million, a 32% year-on-year increase
It was learned that Momo’s second-quarter earnings report for 2019 released today’s second quarter revenue of 4.116 billion yuan, a year-on-year increase of 32%, market expectations of 4.037 billion yuan; net profit of 731.8 million yuan, compared with 7.502 in the same period last year. 100 million yuan, the market is expected to be 685.6 million yuan, Mo Mo said that this change is mainly due to the second quarter of 2019, Mo Mo Company confirmed a total of 48.25 million yuan of equity incentive fees.
According to foreign media reports, South Korea’s future five-star group said on August 26 that the company and Didi Travel are considering to establish a Korean subsidiary in cooperation next year. An executive from South Korea’s future five-star group said: “Our goal is to set up a subsidiary in South Korea in 2020 and is currently negotiating with Didi. We have almost completed the design of the mobile platform and are waiting for Didi’s trip. Final decision.” (Tencent Technology)
Costco’s first store opened this morning and was closed due to passenger flow in the afternoon
On August 27th, Costco (opener), the largest chain member warehousing supermarket in the United States, opened its first store in mainland China. Due to the large number of consumers arriving at the store and the large number of people in the store, Costco had to temporarily suspend business in the afternoon. Due to the large flow of people, at one o’clock noon, Costco announced through the mobile app and SMS, “to provide