NetEase Secondary Listing: Capital Allocation and Balance Sheet Efficiency Views
NetEase Inc (NTES US) is looking to raise $2.6 billion through a Hong Kong secondary listing, which could rise to $3 billion if an overallotment...
373 Views
NetEase Secondary Listing - Doing a BeiGene Rather than a Baba, Risk Reward Shifting
NetEase Inc (NTES US) ADRs have risen by 8% since its launched its secondary offering on 1st Jun 2020, which I covered in NetEase Secondary...
546 Views
Seeing Red
* Responding to The Hong Kong Security Law: The US response will be predicated upon the full details of the new law. Early indications suggest that...
353 Views
Pinduoduo: Inflated Top Line, Inflated Bottom Line, and Inflated GMV?
We believe Blue Orca’s concerns about Pinduoduo (PDD US) in its short-seller report from two years ago are still broadly valid. PDD continues to...
774 Views
China's 618 Festival "Revenge Shopping" Shows World What the Future Of E-Commerce Will Look Like
Initial data from China's mid-year shopping festival has come out very strong. According to Alibaba, total gross merchandise volume jumped 50% YoY...
426 Views