Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

Travelsky Technology Ltd H / Equity Bottom-Up

<ul>
<li>Share price of <a href="https://www.smartkarma.com/entities/travelsky-technology-ltd-h" target="_blank" data-smartkarma-citation="entities:19829:1" rel="noopener">Travelsky Technology Ltd H (696 HK)</a> is still down YTD as investors are still overly cautious on Chinese travel data. </li>
<li>YTD operational data shows that the number of flights processed is very close to the pre-COVID era. </li>
<li>The company announced a profit alert recently, that should help to boost share price. </li>
</ul>


Share price of Travelsky Technology Ltd H (696 HK) is still down YTD as investors are still overly cautious on Chinese travel data. 
YTD operational data shows that the number of flights processed is very close to the pre-COVID era. 
The company announced a profit alert recently, that should help to boost share price. 


Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Thematic (Sector/Industry)

<ul>
<li>In May, the recovery in outbound travel remained strong, but not surprisingly so</li>
<li>Meanwhile, improvement in domestic travel activity appears to have lost steam</li>
<li>Six months in, we simply do not see any positive surprises in the travel boom</li>
</ul>


In May, the recovery in outbound travel remained strong, but not surprisingly so
Meanwhile, improvement in domestic travel activity appears to have lost steam
Six months in, we simply do not see any positive surprises in the travel boom


Monthly Chinese Tourism Tracker | Outbound Firmer | Domestic Losing Steam | No Surprises (June 2023)

<ul>
<li>Q123 Net Revenue was strong, exceeding Q119 (pre-Covid) levels by over 12%</li>
<li>Almost six months into recovery, <a href="https://www.smartkarma.com/entities/trip-com-group-ltd" target="_blank" data-smartkarma-citation="entities:180:1" rel="noopener">Trip.com (TCOM US)</a> has also managed SG&amp;A expenses well</li>
<li>A good result for the company, but we see no reason to alter our long-term view</li>
</ul>


Q123 Net Revenue was strong, exceeding Q119 (pre-Covid) levels by over 12%
Almost six months into recovery, Trip.com (TCOM US) has also managed SG&amp;A expenses well
A good result for the company, but we see no reason to alter our long-term view


Trip.com Q123 | Revenue Surges Past Q119 Level | Decade-High Margin | But Our Thesis Is Unchanged

China/Asia TMT

Shawn Yang

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

<ul>
<li>700.HK:  Supercell’s new game Floodrush receives unenthusiastic reception ( - )</li>
<li>3690.HK / TCOM: Douyin launches new hotel booking feature (-/-)</li>
<li>LI: Li Auto's daily order volume exceeds 1k for three consecutive weeks (+)</li>
</ul>


700.HK:  Supercell’s new game Floodrush receives unenthusiastic reception ( - )
3690.HK / TCOM: Douyin launches new hotel booking feature (-/-)
LI: Li Auto's daily order volume exceeds 1k for three consecutive weeks (+)


China TMT Update Jun 1 - 700.HK/Douyin/3690.HK/TCOM/Li- Supercell’s New Game Receives Unenthusiastic

<ul>
<li>Q1 Revenue growth and gains in profitability both strong, but Q2 guidance unexciting</li>
<li>FTA is making good progress on promoting its automated freight matching service</li>
<li>But other changes will require more time, and investors are impatient</li>
</ul>


Q1 Revenue growth and gains in profitability both strong, but Q2 guidance unexciting
FTA is making good progress on promoting its automated freight matching service
But other changes will require more time, and investors are impatient


Full Truck Alliance Q123 Earnings | Progress on Improving Mix | Other Changes Need More Time

China

Trip.com Group Ltd. provides online travel agency services. The Company offers mobile applications, hotel reservations, flight ticketing, package tours, corporate travel management, and train ticketing services.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Trip.com (TCOM US)

Travelsky (696): Time to Fly

Travelsky, a good proxy to Chinese tourism recovery besides Ctrip, has reported a profit alert, and the share price is still down YTD, presenting a...

Henry Soediarko

Monthly Chinese Tourism Tracker | Outbound Firmer | Domestic Losing Steam | No Surprises (June 2023)

The recovery in outbound travel remained strong in May, and domestic activity also continued to improve, though it appears to be losing some...

Tracking Traffic

Trip.com Q123 | Revenue Surges Past Q119 Level | Decade-High Margin | But Our Thesis Is Unchanged

Trip.com posted a strong result in Q123, with Revenue finally above pre-Covid levels and core margins at a decade-high. But management seemed to...

Tracking Traffic

China TMT Update Jun 1 - 700.HK/Douyin/3690.HK/TCOM/Li- Supercell’s New Game Receives Unenthusiastic

700.HK: Supercell’s new game receives unenthusiastic reception (-) 3690.HK/TCOM: Douyin launches new hotel booking feature; LI: Li Auto's daily...

Blue Lotus Research Institute

Full Truck Alliance Q123 Earnings | Progress on Improving Mix | Other Changes Need More Time

Despite solid revenue growth and rising profitability in Q1, investors focused on unexciting Q2 guidance. In this note we highlight some...

Tracking Traffic

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)