China Internet Weekly (13Jan2020): Police Arrested 20 of Meituan's Employees for Corruption

While researching Chinese Internet companies, we frequently come across news that merits being highlighted to investors, however, it is not big enough to warrant a research note. In our "China Internet Weekly", we have tried to summarize the weekly news flow. If you have any feedback positive/negative please do let us know.

• In Meituan Dianping (3690 HK)’s anti-corruption report, 20 employees of the company were arrested by the police.
• JD.com Inc (ADR) (JD US) plans to issue notes of US$1 billion.
• Baidu (BIDU US) integrated three departments into one. The company is also seeking a second listing in Hong Kong.
  

Ratings of our coverage in China:

• Buy: Alibaba (BABA), Tencent (700 HK), JD.com (JD), Meituan (3690), TAL Education (TAL), New Oriental (EDU).
• Hold: Ctrip.com (CTRP), Autohome (HTHM), 58.com (WUBA), NetEase (NTES)
• Sell: Tencent Music (TME), Baidu (BIDU), Weibo (WB), Pinduoduo (PDD)