Bad, Worse, & Worst | Ugly Q320 Results from Yunda, YTO Express, & STO Express
Despite strong volume growth, a price war decimated earnngs for at least three of China's express delivery companies in Q3. Soon these companies...
225 Views
New Oriental Hong Kong Secondary - Might Be Relatively Small
New Oriental Education (EDU US) plans to raise around US$1bn in its secondary listing in Hong Kong. While the company has filed its PHIP, the exact...
269 Views
Divergent Q320 Results from SF Holding & YTO Express Show Pressure to Consolidate Is Building
SF Holding posted another set of strong results in Q3, while BABA-aligned YTO Express struggled (again). Our view: SF Holding's rising share of...
217 Views
GDS Holdings Hong Kong Secondary - Going Big. Will Almost Become Net Cash, for a While.
Gds Holdings (Adr) (GDS US) plans to raise around US$1.6bn in its secondary listing in Hong Kong. I had covered the background of the deal in my...
283 Views
TRACKING TRAFFIC/Chinese Express: Pricing Still Weak | STO Q3 Profit Warning | ZTO HK IPO Update
Although volumes bounced back in September, pricing remains weak. We retain our BUY ratings on SF Holding and Best Inc, while ZTO Express remains a...
331 Views