Sea Ltd (SE US): Placement a Good Opportunity to Enter an Attractive Story
Last Friday, Sea Ltd (SE US) unveiled plans to raise around $1 billion (based on the closing price on 28 February) through an underwritten public...
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Sea Ltd: Follow-On Public Offering an Opportunistic Fundraising?
We evaluate the attractiveness of Sea Ltd's (SE US) US$1 bn follow-on public offering announced last Fri. This offering is a typical opportunistic...
451 Views
JD.com (JD): The Real Main Business Grew 46% YoY, and Not 20% YoY in 4Q2018
We believe the real main business line is service (commission), but not product (direct sales). In 4Q2018, service revenues grew by 46% YoY, but...
577 Views
Retail Margin Loans Funded Refueling China’s A-Share Market
Yesterday in Beijing, China Securities News published an article highlighting President Xi’s calling for stock market to become a nation’s core...
384 Views
Koolearn: Marketing Expenses Have Taken Operating Profits Down the Drain
Koolearn updated its IPS prospectus and posted operating losses for 1H2019 (ended Nov. 2018). The company spent significantly on online promotion,...
342 Views