Quantamental Researcher, JD Finance Quantamental Research

Ben Li

Quantamental Researcher

JD Finance Quantamental Research

JD Finance Big Data Quantamental Research is a data and insight provider of proprietary online eCommerce data, under the arm of big data analytics team in JD Finance. JD Finance is an affiliate of US listed JD, a leading eCommerce player in China. It is one of the largest fintech companies in China, with business spanning across consumer loans, fund distribution, and quantitative strategy research. 

Thematic (Sector/Industry)

<ul class="">
<li>Yogurt category is one of the fastest-growing sectors both online and offline.</li>
<li>Top 3 companies' online market share slightly declined yet offline remained stable.</li>
<li>Offline sales are mainly driven by an increase in volume as the 2018 YTD ASP slightly went up by only 3% vs 2017. </li>
</ul>
Related Tickers: <a href="https://www.smartkarma.com/entities/354" target="_blank" data-smartkarma-citation="entities:354:1">China Mengniu Dairy Co (2319 HK)</a>, <a href="https://www.smartkarma.com/entities/3220" target="_blank" data-smartkarma-citation="entities:3220:1">Inner Mongolia Yili Industrial Group (A) (600887 CH)</a>, <a href="https://www.smartkarma.com/entities/7415" target="_blank" data-smartkarma-citation="entities:7415:1">Bright Dairy &amp; Food Co, Ltd. (600597 CH)</a>, <a href="https://www.smartkarma.com/entities/16419" target="_blank" data-smartkarma-citation="entities:16419:1">Beijing Sanyuan Foods Co A (600429 CH)</a>,  <a href="https://www.smartkarma.com/entities/24545" target="_blank" data-smartkarma-citation="entities:24545:1">Henan Kedi Dairy (002770 CH)</a>
Please feel free to contact us for specific data requests.


Yogurt category is one of the fastest-growing sectors both online and offline.
Top 3 companies' online market share slightly declined yet offline remained stable.
Offline sales are mainly driven by an increase in volume as the 2018 YTD ASP slightly went up by only 3% vs 2017. 

Related Tickers: China Mengniu Dairy Co (2319 HK), Inner Mongolia Yili Industrial Group (A) (600887 CH), Bright Dairy &amp; Food Co, Ltd. (600597 CH), Beijing Sanyuan Foods Co A (600429 CH),  Henan Kedi Dairy (002770 CH)
Please feel free to contact us for specific data requests.

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

Equity Bottom-Up

Alibaba Group Holding  / Equity Bottom-Up

<ul class="">
<li>Jack Ma plans to resign as the chairman of Alibaba Group after one year from now.</li>
<li>We believe Jack Ma has to do so due to the poor relationship between AliPay and the People's Bank of China (PBOC).</li>
<li>We believe Jack Ma hopes to ease the relationship with PBOC within one year.</li>
</ul>


Jack Ma plans to resign as the chairman of Alibaba Group after one year from now.
We believe Jack Ma has to do so due to the poor relationship between AliPay and the People's Bank of China (PBOC).
We believe Jack Ma hopes to ease the relationship with PBOC within one year.


Alibaba (BABA): Jack Ma’s Retirement Plan - Wants to or Has To?

CHINA - Healthcare, Steel, Autos, Education, Research From Beijing

Scott Laprise/ 乐天虎

CHINA - Healthcare, Steel, Autos, Education

Research From Beijing

We try to provide our clients with on the ground research of what is really going on here in China.

Our business goal and focus are to provide on the ground research This will give our clients an early look at changes about to happen in China and to give them an edge.

To have the ability to go out and check a car dealer or visit a hospital or go see any new launches in the market. We have regular products such as our steel monthly, a visit to the traders and discuss with them what they see. The steel trader visit gives a great early proxy to spending by the government. We do weekly car dealer visits to see how the car companies are doing but this is also a proxy to the consumer and how is the consumer thinking these days. We visit school and hospitals and attend events to find out what people are really thinking.

Our primary method of research is fundamental research starting with a neutral view, analyzing the financials and building the case for the company. We rarely look at the news as we have found the views to be incomplete lacking the understanding of Chinese thinking. We strive for a fresh differential view on the Chinese stocks. Most Chinese research is made by analysts reading the news and reading other Chinese analysts giving clients the same old view. We also try to give you a better understanding of how the Chinese look at issues. The English media tends to focus on examining issues from the western view giving investors often an incomplete view.

If you want your research done by professionals on the ground who are able to give you early feedback instead of most research taking a long distance view driven by the media. This is our value proposition: focused on the ground research to limited clients. We think this is the best way to give you the best chance to generate alpha for your funds.

China Mengniu Dairy Co / Equity Bottom-Up

<ul>
<li>Advertising taking a fundamental shift due to China.</li>
<li>China is the biggest sponsor of the World Cup.</li>
<li>Advertising is China-centric to build China image.</li>
<li>Some companies NOT interested in international branding.</li>
<li>Three companies advertising in Chinese only – no English at all.</li>
<li>Budweiser ad private in Chinese only for Chinese only.</li>
<li>Two China listed stocks vastly outperformed the market index.</li>
<li>How much will the World Cup be Chinese? Sponsors, fans?</li>
<li>Sports in China, the NBA is #1 in the world in the world.</li>
</ul>


Advertising taking a fundamental shift due to China.
China is the biggest sponsor of the World Cup.
Advertising is China-centric to build China image.
Some companies NOT interested in international branding.
Three companies advertising in Chinese only – no English at all.
Budweiser ad private in Chinese only for Chinese only.
Two China listed stocks vastly outperformed the market index.
How much will the World Cup be Chinese? Sponsors, fans?
Sports in China, the NBA is #1 in the world in the world.


CHINA CONSUMER - World Cup Advertising – China Dominates Yet Does Not Participate

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Health And Happiness (H&H) / Equity Bottom-Up

What are the drivers for <a href="https://www.smartkarma.com/entities/20582" target="_blank" data-smartkarma-citation="entities:20582:1">Health and Happiness (H&amp;H) (1112 HK)</a> ? Many will argue that the loosening of single child policy in China is one of the more important growth drivers. I would like to add that the adult nutrition care business is equally important because of the inverted triangle shaped demographic in China which means more adults in the country compared to the numbers of child-births. Report structure:<ol><li>Adult nutrition care market size</li><li>Swisse product</li><li>Valuation</li><li>Trade idea</li></ol>

What are the drivers for Health and Happiness (H&amp;H) (1112 HK) ? Many will argue that the loosening of single child policy in China is one of the more important growth drivers. I would like to add that the adult nutrition care business is equally important because of the inverted triangle shaped demographic in China which means more adults in the country compared to the numbers of child-births. Report structure:Adult nutrition care market sizeSwisse productValuationTrade idea

Health & Happiness: The Supplement to Your Portfolio

<a href="https://www.smartkarma.com/profiles/4" target="_blank" data-smartkarma-citation="accounts:4">Sumeet Singh</a> discussed in his piece on <a href="https://www.smartkarma.com/insights/health-and-happiness-placement-has-been-living-up-to-its-name-lately" target="_blank" data-smartkarma-citation="insights:19272">Health and Happiness Placement - Has Been Living up to Its Name Lately</a> that he is bullish on <a href="https://www.smartkarma.com/entities/20582" target="_blank" data-smartkarma-citation="entities:20582:1">Health and Happiness (H&amp;H) (1112 HK)</a> and recommended to take up the placement. Since then, the share price has dropped to the placement price range but has since rebounded to HKD 59.2. <h2>Update Q1 2018</h2>Q1 2018 result was good, marked with an improvement in both product categories; baby and adult nutrition care products. <table class="table table-striped"><tbody>
<tr>
<td>Revenue</td>
<td style="text-align: right;">Q1 2018</td>
<td style="text-align: right;">Q1 2017</td>
<td style="text-align: right;">Change %</td>
<td style="text-align: right;">vertical 2018</td>
</tr>
</tbody></table>…

Sumeet Singh discussed in his piece on Health and Happiness Placement - Has Been Living up to Its Name Lately that he is bullish on Health and Happiness (H&amp;H) (1112 HK) and recommended to take up the placement. Since then, the share price has dropped to the placement price range but has since rebounded to HKD 59.2. Update Q1 2018Q1 2018 result was good, marked with an improvement in both product categories; baby and adult nutrition care products. 

Revenue
Q1 2018
Q1 2017
Change %
vertical 2018

…

H&H: Still Healthy IMF and Good for Your Gut

China

China Mengniu Dairy Company Limited, through its subsidiaries, manufactures and distributes quality dairy products in China. The principal products are liquid milk products, ice cream, and other dairy products, such as milk powder. The Company markets its products under its primary MENGNIU core brand.

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China Mengniu Dairy Co (2319 HK)

Yogurt Category Performance in China

Yogurt category is one of the fastest-growing sectors both online and offline. Top 3 companies' online market share slightly declined yet offline...

Ben Li

Alibaba (BABA): Jack Ma’s Retirement Plan - Wants to or Has To?

Jack Ma plans to resign as the chairman of Alibaba Group after one year from now. We believe Jack Ma has to do so due to the poor relationship...

Ming Lu

CHINA CONSUMER - World Cup Advertising – China Dominates Yet Does Not Participate

Advertising taking a fundamental shift due to China. China is the biggest sponsor of the World Cup. Advertising is China-centric to build China...

Scott Laprise/ 乐天虎

Health & Happiness: The Supplement to Your Portfolio

What are the drivers for Health and Happiness (H&H) (1112 HK) ? Many will argue that the loosening of single child policy in China is one of...

Henry Soediarko

H&H: Still Healthy IMF and Good for Your Gut

Sumeet Singh discussed in his piece on Health and Happiness Placement - Has Been Living up to Its Name Lately that he is bullish on Health and...

Henry Soediarko

Price Gauge

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