Didi Global: Xi Jinping Softening the Brutal Crackdown on China's Internet Giants?
In this insight, we provide a bullish case for DiDi Global. We argue that there are signs that Xi Jinping is starting to soften the brutal...
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China Plans to Strengthen Power of SAMR
The move of antitrust and anti-unfair competition shows China intends to maintain its strict stance on monopolistic and uncompetitive practices in...
249 Views
EM Consumer Discretionary: Turbulent Times for Alibaba
We look in to the recent collapse of Consumer Discretionary allocations among active GEM managers, and find that Alibaba is the driving force...
288 Views
Merchant Deposits and Payables to Pad Cashflows - Who's Culpable?
Merchant deposits and merchant payables have been used to pad operating cashflows (even though they are not free cashflows), particularly for fast...
282 Views
Coupang: Down 61% From the Peak, Further 60% Downside Is a Possibility
At 0.80x, Coupang’s EV/ (Gross Merchandise Value + Retail Revenue) remains 0.58x, 0.66x and 0.64x above Alibaba’s, JD.com’s and Pinduoduo’s EV/...
352 Views