China Internet Weekly (30Dec2019): We Review Our Ratings in 2019, Tencent Fired 60 Corrupt Employees

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.

• We have reviewed our ratings throughout 2019. Most buys and sells are useful and helpful except for two.
• Tencent Holdings (700 HK) fired 60 corrupt employees.
• JD.com Inc (ADR) (JD US)’s logistics business plans to go public.
• Q&K International (QK US) cannot pay landlords and employees just one month after its listing.
  

Ratings of our coverage in China:

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