Despite +48% Volume Growth, ZTO's Margins & Operating Cash Flow Fell Sharply in Q2
Despite another quarter of strong parcel volume growth (+48% YoY in Q2), ZTO Express (ZTO US) showed it could not convert more parcels into...
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China Internet Weekly (10Aug2020): Pompeo Mentioned Decoupling List, How About Apple in China?
U.S. Secretary of State, Pompeo, suggests Chinese cloud companies should be banned. If the users in China face the choice between WeChat and...
297 Views
Active Fund Manager's Favoured (And Least Favoured) China Stocks
In this report, we show 2 portfolios based on the most favoured and least favoured stocks among High Active China focused equity managers. The...
568 Views
Ant Group: Early Thoughts on the IPO – Alipay Is NOT the Cash Cow Here
Our early thoughts on Ant Financial (1051260D CH)’s IPO are broadly positive and we believe the risk-reward is attractive at the rumoured $200bn...
493 Views
China E-Commerce [Alt Data]: Demand Picks Up in 2Q; Expect Strong Results for Alibaba/JD/PDD
Chinese government data suggests that the retail demand for online goods has picked up to the pre-pandemic level in 2Q 2020. We expect 2Q 2020 to...
322 Views