JD.Com: Consumption Slow-Down Story Confirmed
Jd.Com Inc (Adr) (JD US)'s management commentary/outlook statement validates our view that China (macro) consumption slowed down in 3Q18, and the...
481 Views
Mogu (蘑菇街) Pre-IPO - Core Metrics Deteriorating
Mogu (MOGU US) is looking to raise US$200m in its upcoming IPO. Proceeds from the IPO will be used to expand its content offering, invest and...
686 Views
JD.com (JD): 3Q18 Not Slowing Down, As Two Parts of Revenues Not Comparable!
* The "services" business is actually the main business by both GMV (Gross Merchandise Value) and commissions, but accounts for only 10% of total...
431 Views
Baozun - Customer Disintermediation Due to Obsolete Business Moat - SELL
We cut Q4 2018 GMV from 50% to 35% YoY, given Baozun Inc. (BZUN US) catastrophic miss last weekend during the 11.11 holiday sales. We estimate...
702 Views
Bearish Tech Stance Still Performing, as 5G Rollout Looms
‘The ‘Peak Smartphone’ theme justified an underweight stance back in Q4 across the most heavily exposed Asian supply chain stocks, with DDR4 DRAM...
359 Views