Silver Point

Thomas J. Monaco

Independent Insight Provider

Silver Point is a boutique research firm that focuses on the broader financial services sector, with a particular focus on troubled institutions globally. 

Asia Ex Japan

Equity Bottom-Up

*Crackdown Begins: The State Administration for Market Regulations (SAMR) or better know as mainland China’s antitrust regulator fined China Literature (772.HK), Tencent Holdings (700.HK) [Tencent] subsidiary CNY 500,000 for failing to gain certain acquisition or buyout approvals – thereby violating the country’s anti-monopoly laws; and *Small Fine, But Implications Large: The current Tencent fine is relatively small compared to the size of the company, however, it does serve as a wake-up call to halt M&amp;A activity without the requisite regulatory sign off. SAMR is also looking into a recent deal between Huya (HUYA.US) and Douyu (DOYU.US) where Tencent would have 68% of voting shares in the combined entity.

*Crackdown Begins: The State Administration for Market Regulations (SAMR) or better know as mainland China’s antitrust regulator fined China Literature (772.HK), Tencent Holdings (700.HK) [Tencent] subsidiary CNY 500,000 for failing to gain certain acquisition or buyout approvals – thereby violating the country’s anti-monopoly laws; and *Small Fine, But Implications Large: The current Tencent fine is relatively small compared to the size of the company, however, it does serve as a wake-up call to halt M&amp;A activity without the requisite regulatory sign off. SAMR is also looking into a recent deal between Huya (HUYA.US) and Douyu (DOYU.US) where Tencent would have 68% of voting shares in the combined entity.

Tencent Holdings – Slap On The Wrist For Now

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Alibaba Group Holding  / Equity Bottom-Up

<ul class="">
<li>The State Administration for Market Regulation (SAMR) started to investigate many internet companies for monopoly.</li>
<li>We believe the movement is generally temporary for most companies.</li>
<li>However, there is risk for online payment and giant companies.</li>
</ul>


The State Administration for Market Regulation (SAMR) started to investigate many internet companies for monopoly.
We believe the movement is generally temporary for most companies.
However, there is risk for online payment and giant companies.


Alibaba (BABA): This Online Antitrust Wave, A Risk, But Not A Massacre

<ul>
<li>Alibaba (BABA) became the largest shareholder of Sun Art (6808 HK).</li>
<li>Foxconn (2354 TT) sold all shares in Alibaba (BABA).</li>
<li>New Classics Media (NCM) announced a list of 56 new TV series, which will benefit both Tencent (700 HK) and China Literature (772 HK).</li>
</ul>


Alibaba (BABA) became the largest shareholder of Sun Art (6808 HK).
Foxconn (2354 TT) sold all shares in Alibaba (BABA).
New Classics Media (NCM) announced a list of 56 new TV series, which will benefit both Tencent (700 HK) and China Literature (772 HK).


China Internet Weekly (26Oct2020): BABA Bought Sun Art, Foxconn Sold BABA

<ul>
<li>Baidu (BIDU)’s manager was arrested for gambling advertisements.</li>
<li>iQiyi (IQ) was banned in Taiwan.</li>
<li>Trip.com (TCOM)’s revenue continued to decrease QoQ in 2Q20.</li>
<li>China Literature (772 HK) raised novel writers’ revenue share from 50% to 70%.</li>
</ul>


Baidu (BIDU)’s manager was arrested for gambling advertisements.
iQiyi (IQ) was banned in Taiwan.
Trip.com (TCOM)’s revenue continued to decrease QoQ in 2Q20.
China Literature (772 HK) raised novel writers’ revenue share from 50% to 70%.


China Internet Weekly (28Sep2020): BIDU Manager Arrested, TCOM Revenue Shrank QoQ

<ul class="">
<li>Alibaba (BABA)’s Taobao inflated audience for live broadcast.</li>
<li>SEC is investigating iQiyi for revenue inflation.</li>
<li>The merger of DouYu (DOYU) and Huya (HUYA) will come true as we had expected in April.</li>
<li>Baidu (BIDU), China Literature (772), and Sohu (SOHU) released 2Q20 results.</li>
</ul>


Alibaba (BABA)’s Taobao inflated audience for live broadcast.
SEC is investigating iQiyi for revenue inflation.
The merger of DouYu (DOYU) and Huya (HUYA) will come true as we had expected in April.
Baidu (BIDU), China Literature (772), and Sohu (SOHU) released 2Q20 results.


China Internet Weekly (17Aug2020): Top Broadcaster Said Taobao Lied, Probe and Rumor on IQ

China

China Literature is the largest online literature platform in China

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China Literature (772 HK)

Tencent Holdings – Slap On The Wrist For Now

TENCENT HOLDINGS: SAMR fined Tencent's subsidiary CNY 500,000 for failing to gain certain acquisition or buyout approvals. The fine is small but...

Thomas J. Monaco

Alibaba (BABA): This Online Antitrust Wave, A Risk, But Not A Massacre

The State Administration for Market Regulation (SAMR) started to investigate many internet companies for monopoly. We believe the movement is...

Ming Lu

China Internet Weekly (26Oct2020): BABA Bought Sun Art, Foxconn Sold BABA

Alibaba (BABA) became the largest shareholder of Sun Art (6808 HK). Foxconn (2354 TT) sold all shares in Alibaba (BABA). New Classics Media...

Ming Lu

China Internet Weekly (28Sep2020): BIDU Manager Arrested, TCOM Revenue Shrank QoQ

Baidu (BIDU)’s manager was arrested for gambling advertisements. iQiyi (IQ) was banned in Taiwan. Trip.com (TCOM)’s revenue continued to decrease...

Ming Lu

China Internet Weekly (17Aug2020): Top Broadcaster Said Taobao Lied, Probe and Rumor on IQ

Alibaba (BABA)’s Taobao inflated audience for live broadcast. SEC is investigating iQiyi for revenue inflation. The merger of DouYu (DOYU) and...

Ming Lu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)