Retail Margin Loans Funded Refueling China’s A-Share Market
Yesterday in Beijing, China Securities News published an article highlighting President Xi’s calling for stock market to become a nation’s core...
398 Views
IQiyi (IQ): In 4Q18, Baidu’s Growth Engine Lost Control Over Content Cost
We notice that the growth rate of cost of revenues exceeded the growth rate of membership revenues. We believe that the margins will continue to...
459 Views
Spotify: Playbook for Online Platforms to Turn Profitable - Implications for Meituan Dianping
Our analysis of how Spotify Technology Sa (SPOT US) turned profitable in 4Q18 reveals three key ingredients: critical mass in sales, GM...
542 Views
Baidu: Time to Swoop In, with NAV Discount Widening Substantially
Our stub valuation analysis reveals that Baidu Inc (ADR) (BIDU US) attractively trades at near 2 SD below its 3-yr average of NAV...
1.1k Views
Alibaba (BABA): For Dec. Quarter, Focus on Profit Improvement, But Not Revenue Growth, 40% Upside
For the December quarter results, the market is focusing on the slowdown of the revenue growth, but we notice that the growth rate of operating...
508 Views