), the Chinese internet company, has become the first Chinese technology company with a market valuation that is more than $500 billion, joining the ranks of Facebook Inc. (FB), Microsoft Corp. (MSFT), Apple Inc. (AAPL) and Amazon.com Inc. (AMZN) in the U.S.

As of the close of trading Monday in China, Tencent’s market cap stood at HK$3.99 trillion ($511 billion). According to the South China Morning Post, when Tencent just started trading on the Hong Kong stock market in June 2004, a single lot of 1,000 shares was valued at HK$3,700. Today that same lot would be worth HK$2.1 million. (See also: Tencent Buys 10% Stake in Snap.)

Helping the company has been a surge in its stock so far in 2017, which has increased 120% since the start of the year. For the third quarter, which it reported last week, Tencent was able to blow past Wall Street forecasts, reporting a 69% increase in quarterly net profit buoyed by strong growth in sales of mobile games and payments. For the three months ended in September, Tencent had net profit of…