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Arigato, dear investor,

It’s been almost a month since I came back to China.

This trip wasn’t just about visiting relatives or traveling to beautiful places.
It quietly expanded my investing horizon in a way I didn’t expect.

Over the years, I’ve watched China grow from what many once called a “sleeping” country into the giant it is today.
But this time, something clicked even deeper for me.

Almost everything I do revolves around one app.

WeChat.

Owned by Tencent.

Let me share what I mean.

From booking my flight…
to train rides…
hotels…
calling a ride to the next location…
even ordering a bubble tea—

I never had to leave WeChat.

The real power of Tencent lies in WeChat’s mini-program ecosystem.

Every shop, every service, every brand can build a customer-centric experience inside WeChat.
As a user, I can literally do almost anything with one single app.

And here’s where it gets interesting as an investor.

Tencent doesn’t need to aggressively sell you anything.
They simply take a small cut from transaction fees across millions of daily interactions.

Small cut.
Massive scale.

That adds up to an enormous amount of revenue flowing quietly in the background.

Then there’s payments.

When my relatives gave me angpao.
When my parents transferred RMB for daily expenses.
Peer-to-peer transfers, seamless and instant—powered by WeChat Pay.

And after that money lands in my wallet?

I spend it again…
inside WeChat…
at shops, restaurants, cafes, and services.

Think about this for a moment.

Money flows into WeChat.
Money circulates within WeChat.
Money gets spent without ever leaving the ecosystem.

And this is happening across a country with over 1.4 billion people.

That’s not just powerful.
That’s scary—in the best possible investing way.

On top of all that, WeChat is still the ultimate communication platform in China.

Messaging.
Voice and video calls.
Moments where you peek into your friends’ lives.
Short videos.
Creators.
Content.
Entertainment.

It’s social, financial, and commercial—combined into one deeply embedded daily habit.

Honestly?

It’s the most robust app and strongest ecosystem I’ve ever experienced firsthand.

If you asked me which tech company has one of the strongest economic moats out there today—

Tencent would be very high on that list.

This is a long-term hold for me.

That said, what I’ve shared here is just a very superficial observation from traveling and living inside the ecosystem.

I’ll be doing a proper Tencent deep dive in January, where I’ll break down the business, the moat, the risks, and how I think about it as a long-term investor.

👉 I’ll share the Zoom link with you to walk through it together live later!

And this is exactly why I love traveling so much.

Not just for experiences—but because it expands your investing lens.
You see how people live.
How money moves.
Where real opportunities are quietly compounding.

Let’s travel happily.
Let’s invest wisely.
And let’s make money thoughtfully together in 2026.

I can’t wait to see you at my first live session of 2026.

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Arigato!

Chloe
Arigato Investor

Just a quick heads-up 🌸 Except for Instagram, where I may reply if you comment on my posts, I’ll never initiate a private message to you on any platform. So if you ever get a DM from someone claiming to be “Chloe” or “The Arigato Investor” on Telegram or TikTok — please know that’s not me. It’s a scammer impersonating my account. Stay safe and always double-check 💛

The information provided in this newsletter is for informational purposes only and does not constitute financial advice. Readers should seek their own independent financial advice before making any investment decisions. Please note that the opinions expressed in this newsletter are Chloe's own and do not represent the views of any organization. Always perform your own research and due diligence before investing. 💛

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