NetEase (NTES): Sold Import E-Commerce to Alibaba (BABA), Win-Win Deal
NetEase (NTES) sold its e-commerce platform Kaola to Alibaba Group Holding (BABA US). After the deal, Alibaba (BABA) will have more than half of...
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Tencent/NetEase: August Game Approval Analysis
Yesterday, the Chinese regulator announced the August batch of approvals for domestic games. In our previous note in July, we discuss that Tencent...
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🇨🇳🇭🇰 That Was The Week That Was • Hong Kong/China - 12th~18th August 2019 @Smartkarma
• TW3 HONG KONG/CHINA 12~18 AUGUST •The weight of this week's 28 China/Hong Kong Insights was surprisingly more bullish in its tone (18 bull/10...
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Tencent Music (TME): Lower Margin in 2Q2019, Overvalued as Always
The operating margin dropped to 15% in 2Q19 compared to 21% in 2Q18. We believe the price discount in broadcasting raised paying users and...
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NetEase (NTES): Slow Down? Operating Profits Up 49% YOY! 30% Upside
We believe investors should focus on margins, but not revenue growth. We believe EPS will increase by 65% in 2019 and 28% in 2020 due to the...
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