Meituan-Dianping IPO, Part 3: Sum-Of-Parts Approach Suggests US$50 Bn Valuation Quite Unrealistic
Recent media reports (see articles here and here) suggest Meituan Dianping (MEITUAN CH) will attempt to complete its listing in Hong Kong by...
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Alibaba (BABA): Logistics Fails as Part of Aggressive Diversification
Operating margin plunged to 10% in 1Q19 versus 35% in 1Q18. Revenue growth accelerated merely due to the additions of new business lines. Cainiao...
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Qutoutiao 趣头条 (QTT) – A Spendthrift Who Pays News Readers Generously
Qutoutiao is not the only mobile applications which pays readers, but the Company pays aggressively. Therefore in 2Q18, on one hand, monthly...
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NIO IPO Preview: Pull the Plug
NIO Inc (NIO US) is a Chinese premium electric vehicle manufacturer which exclusively sells its vehicles in China. It is backed by Tencent Holdings...
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Tesla: Neither Funding nor Model 3 Demand Appears Secured to Us
Funding Secured?While Musk has pointed to the Saudi Arabian Public Investment Fund as the backing for his "funding secured" tweet, we see a few...
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