An Underfollowed Chinese Tech Company Is Now More Valuable Than Baidu, JD.com

There's certainly a lot of uncertainty regarding Chinese stocks these days, but recent earning reports have shown they aren't exactly a lost cause. While it is true that the Chinese currency has depreciated against the dollar -- making Chinese company earnings worth less for U.S. investors -- several leading domestic Chinese businesses have actually been reporting stellar growth numbers lately, at least in Chinese Yuan.

These businesses aren't in the country's industrial sectors, but rather the internet and consumer sectors, as Chinese consumers appear to be picking up some of the slack in the country's maturing economy. While many U.S. investors may know the BAT stocks -- Baidu (NASDAQ: BIDU), Alibaba (NYSE: BABA), and Tencent (OTC: TCEHY) -- they may be less aware of Meituan Dianping (OTC: MPNGF), a food delivery business, local deal platform, hotel booking platform, and bike- and ride-hailing platform all rolled into one.

Meituan just went public in September of last year, and it has already surged past better-known internet giants such as Baidu and JD.com (NASDAQ: JD) in market capitalization, with the company currently valued at $56 billion.

Source Fool.com