China's Consumer Credit Crunch, Slowing Consumption, & Stock Implications
In this note, we analyze the latest domestic consumption data including the top 50 retailers, auto sales, and P2P transactions. Domestic...
471 Views
ZTO Q218 Results: The Numbers Just Don't Add Up!
Last week ZTO Express (ZTO US) reported Q2 earnings that appeared to slightly exceed investors' expectations. In response, ZTO's shares rose and as...
1.2k Views
PinDuoDuo Faces Three Main Long-Term Risks: Counterfeits, 'Clearance', Competition
As we see it, newly-listed Pinduoduo (PDD US) faces three major risks to sustained long-term growth: Counterfeits: The issue of counterfeit goods...
700 Views
Turning Negative on Baozun: Software Upgrade Delayed; E-Commerce Premiumization Slows
Baozun Inc. (BZUN US) was our top long idea for the past 8 months with a price target of $45. At its current $55 per share, the stock price in...
414 Views
JD.com Bull Base and Strategic Opportunity
In early November last year we flagged a bullish breakout that faded in February and is now building a more powerful basing pattern for new highs...
345 Views