Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?
To match service levels offered by JD.com Inc (ADR) (JD US) and leading express carrier S.F. Holding Co Ltd (002352 CH), Alibaba Group Holding Ltd...
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High-Conviction Short: Schemes That Lifted ZTO Margins In Q118 Likely to Unravel in H218 (Part 2/2)
This note is the second of a two-part report on ZTO Express (ZTO US) and its unique relationship with related party trucking vendor Tonglu Tongze...
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High-Conviction Short: Schemes That Lifted ZTO Margins In Q118 Likely to Unravel in H218 (Part 1/2)
In recent months, and in particular after the release of surprisingly strong Q118 results on May 9th, we have become more concerned about the murky...
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Best Inc.: Q118 Shows Booming Sales, More Losses, Still Net Cash
Q118 results from BEST Inc (BSTI US) look a lot like the company's other two quarterly releases it has put out since listing in September 2017:...
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5 Takeaways from ZTO's Q1 Results & Call: Revenue Growth Beats, But Margins, ASPs, Cash Flow Suffer
ZTO Express (ZTO US), one of China's leading express parcel delivery companies, reported mixed results on Wednesday evening after the US market...
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