Alibaba (BABA): 4Q21 Result, Not as Bad as It Looks
Revenue accelerated in 4Q21, even excluding the acquisition of Sun Art. Operating profit increased YoY after adding back the anti-monopoly fine.
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Zomato IPO: Caution Before Frenzy
Zomato's revenues may have grown at the rate of knots since F18. But there are many more cautions one should be aware of, ranging from accounting...
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Ximalaya Pre-IPO - Earnings Forecast and Valuation
Ximalaya (XIMA US), the largest online audio platform in China, is looking to raise around US$1bn in its US listing. As of 1Q21, it had 250m...
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Qiniu IPO Initiation: A PasS
Qiniu has filed for a Nasdaq IPO to raise proceeds of $500 million, according to press reports. We think that the several negatives in the Qiniu...
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Prosus/Naspers Holdco - Round Tripping US$46bn
Prosus announced that it would acquire 45.4% of Naspers via a voluntary offer to be settled with new Prosus Shares. This will result in Prosus...
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