BAT refers to the once-dominant three giants of China's internet tech industry: Baidu, Alibaba, and Tencent. These three companies were regarded as the "three pillars" of the Chinese internet industry and held dominant positions in various technological fields. This term persisted for over a decade before it gradually broke down. ATM refers to Alibaba, Tencent, and Meituan. It is the evolution of BAT, particularly after Meituan joined, which led to the widespread use of this new term. The shift from BAT to ATM marks the diversification and expansion of China's internet tech industry, reflecting its broadening business scope.

For a long time, Alibaba and Tencent maintained a firm dominance. Alibaba led the e-commerce and fintech sectors through its e-commerce platforms and payment services. Meanwhile, Tencent, with the success of its social platforms like WeChat and QQ, occupied an important position in social media, entertainment, and fintech. However, the third position remained volatile, with companies like JD.com and Xiaomi attempting to surpass Baidu, although these efforts were short-lived. It wasn't until May 2019 that Meituan surpassed Baidu for the first time, further widening the gap, and Meituan's market value has remained around three times that of Baidu since then.

Initially founded with a focus on group buying, Meituan expanded its business into various sectors of lifestyle services, such as food delivery, shared bicycles, travel, and ride-hailing. In particular, the success of Meituan's food delivery and hotel tourism businesses has made it an undeniable force in China's internet landscape. Meituan's rise also signals a shift in China's internet industry from traditional e-commerce and social platforms to more diversified lifestyle services.

"ATM" in the Spotlight Leading the Global Innovation Wave

Currently, "ATM" (Alibaba, Tencent, and Meituan) is leading the global wave of innovation as the top tech giants in China. These three companies not only occupy a significant position in the Chinese market but also have a profound impact worldwide.

With such a hot market opportunity, uSMART recently launched a special offer for trading Hong Kong stocks, allowing investors to purchase the "ATM" tech giants, which are the most representative Chinese tech stocks, with zero commission and zero platform fees*. This includes Alibaba (9988.HK), Tencent (700.HK), and Meituan (3690.HK). This promotion not only lowers the investment threshold but also provides investors with an efficient and convenient way to invest in the world's most innovative tech companies.

If you want to learn more about uSMART's Hong Kong stock trading promotional activities, click here for more information.

*Offer subject to terms and conditions

How to Buy "ATM" on uSMART

After logging into the uSMART HK app, click on "Search" at the top right of the page, input the stock code (for Tencent, enter "00700.HK"; for Alibaba, enter "09988.HK"; for Meituan, enter "03690.HK") to access the details page and view transaction details and historical trends. Then click the "Trade" button at the bottom right, select the "Buy/Sell" option, fill in the transaction conditions, and submit your order.

(Image source: uSMART HK)