China Internet Weekly (18Nov19): Single Day, Alibaba's Record Sales, PPD's 6% Mkt Share Vs. JD's 17%

While doing research on 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 inaugural "Last Week on China Internet", we have tried to summarize the weekly news flow. We plan to publish this on a test basis, thus, if you have any feedback positive/negative please do let us know.

• Alibaba’s sales increased 26% and its logistics orders increased 24% on this Single Day over last year.
• On Single day, Pinduoduo (PDD)’s market share is only 6% compared to 17% for JD.com (JD). We believe it is a feasible action to long JD and short PDD.
• All three Chinese telecom operators are stagnant in revenues for the first three quarters of 2019.