[Coupang (CPNG US, SELL, TP US$14.4) TP Change]: Margin Beat Due to Higher 3P Spend on Ads and FLC
Given improved product commerce profitability, we raise our TP to US$ 14.4, but maintain SELL to reflect the impact of China e-commerce on CPNG.
264 Views
China TMT Update-Luckin /CPNG/BABA/3690.HK/Douyin-Store Transfer/Korea Cross-Border Ecommerce
Luckin Coffee “store transfer” program achieved preliminary result;CPNG/BABA: Statistics Korea published 2Q23 cross-border ecommerce data (-...
258 Views
[Coupang Inc. (CPNG US, SELL, TP US$13.7) TP Change]: Taiwan Expansion Will Lower the Profit Margin
We expect CPNG to report C2Q23 revenue and profit in-line and (31.6%) vs. cons., respectively. CPNG's profit miss is largely due to rapid expansion...
291 Views
China TMT Update-BABA/BGNE/9926HK/9995HK/1801HK/1877HK/LGNE/ZLAB/BEKE-Baba's Annual Report/NHSA Rule
Baba: Alibaba's annual report;BGNE/9926HK/9995HK/1801HK/1877HK/LGNE/ZLAB: NHSA issued new rule to protect drug pricing;BEKE: China reinforce the...
237 Views
China TMT Update-PDD/BABA/CPNG/SE/BEKE/1211HK/TSLA/XPEV/LI/NIO-Temu Launches in South Korea
PDD/BABA/CPNG/SE: Temu launches in South Korea;BEKE: Comments on the rumors of and loosening home purchase restrictions;1211HK/TSLA/XPEV/LI/NIO:...
228 Views