Tencent Emerges As China's Most Valuable Private Company: Hurun Report

Tencent Holdings Ltd TCEHY tops China's most valuable private company list in 2021, according to the Hurun Report. Tencent heads the list with a valuation of $609 billion.
Alibaba Group Holding Ltd BABA dropped to third place.
The Hurun Research Institute has released the list of the Top 500 China non-state-controlled enterprises ranked according to their value.
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Semi-conductor giant Taiwan Semiconductor Manufacturing Co Ltd TSM was second with a value of $577 billion.
The valuation of ByteDance Ltd tripled in 2021, rising to the fourth position.
Battery-maker CATL entered the top 10 for the first time, with its value rising 2.5 times to $233 billion.
The report notes that healthcare and energy grew significantly, becoming the top two sectors.
As per the report, 88% are listed companies. Among them, 27 companies are listed in the U.S.
Price Action: BABA shares traded higher by 6.50% at $136.06 on the last check Thursday.