VNG Pre-IPO - Thoughts on Valuation
VNG (VinaGame) (VNG US), Vietnam’s leading internet platform, aims to raise up to US$300m in its US IPO. In this note, we talk about valuations.
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VNG Pre-IPO - Local Peers Comparison
VNG (VinaGame) (VNG US), Vietnam’s leading internet platform, aims to raise up to US$300m in its US IPO. In this note, we talk about local...
427 Views
VNG Pre-IPO - The Negatives - Vietnam’s Mini-Tencent
VNG (VinaGame) (VNG US), Vietnam’s leading internet platform, aims to raise up to US$300m in its US IPO. In this note, we talk about the not-so...
486 Views
Bilibili (9626): 2Q23, Cut Losses and Raised Growth, Upgrade to Buy
The growth rate of advertising revenue rose to 36% YoY in 2Q23 from 22% YoY in 1Q23. Bilibili continued to cut costs by dismissing employees. The...
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[Bilibili(BILI US, SELL, TP US$12.3)Update]: Still Struggling to Balance Growth and Monetization
We were invited to BILI’s 2023 investor day, during which BILI management presented several catalysts. Most of these catalysts appear to be minor....
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