Kingsoft Cloud: Valuing the Impact of Potential Price Hikes; Expect C.30% Upside in the Medium Term
In our IPO initiation note, Kingsoft Cloud IPO: A Few Inherent Risks, But We Are Broadly Positive, we suggested that KC’s gross loss could be...
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Baidu 1Q20 Better-Than-Feared but Longterm Outlook Remains Murky Due to ByteDance; UW 18% Downside
Baidu reported 1Q results and guidance that were better-than-feared as other revenues helped mitigate the impact of COVID-19 on Baidu's core...
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The Rise of a New BAT: ByteDance Enters Warp Speed as It Eyes Baidu's Lunch
ByteDance's TikTok just experienced its best quarter ever as total global downloads exceeded 2 billion for the short-form video app. Leveraging its...
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Kingsoft Cloud IPO: A Few Inherent Risks, But We Are Broadly Positive
Our initial thoughts on Kingsoft Cloud (1775017D US) (KC) are broadly positive. KC seems to carry a few inherent risks, in terms of over depending...
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Softbank Group: Deep Dive into Vision Fund's $10bn in Expected Valuation Losses for This Quarter
In this report, we dig into the Vision Fund portfolio to see which investments drive what looks to be a ~¥1,000bn operating loss for Q4. We have a...
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