JD & NetEase Secondary Listings - What to Do with the ADR? Lessons from Baba
Both JD.com Inc (ADR) (JD US) and NetEase Inc (NTES US) obtained approval for a secondary listing in Hong Kong on Thursday, 28th May....
490 Views
GSX: Minimal Market Share; ~80% Fake Enrollment and Operational Irregularities
Last week, we conducted a market survey among K12 parents who registered their child(ren) for at least one class with Gaotu and/or GSX Techedu (GSX...
497 Views
COVID-19 and ESG: Tencent, Alibaba Lead in Coronavirus Aid for Asia Pacific Region
"Social" has been a third-wheel ESG pillar for a long time. Not that it matters any less, and there is plenty of evidence that strong Social-pillar...
635 Views
China ADRs Secondary Listing - Holding Foreign Companies Accountable Act - I'm Coming Home
Ever since Alibaba successfully completed its secondary listing in Hong Kong in Nov 2019, markets have been abuzz with news of other companies...
560 Views
Youdao 1Q20: K-12 Paid Enrollments Soar 360% as Gross Margin Expands; Maintain OW (28% Upside)
We maintain our overweight rating on Youdao as decade-long structural trends are brought forward by years and consumers increasingly shift spend to...
131 Views