China Internet Weekly (6Dec2020): Xiaomi’s Best TV Set Seller, TME Acquired 10% of Universal Music

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.

• Vipshop (VIPS), a small-cap in 2018, was the top performer among all overseas Chinese companies in 2019.
• Xiaomi (1810 HK) sold 10 million TV sets in 2019. No TV set producer has ever reached the number in China before.
• Tencent Music (TME) organized a consortium to purchase a 10% stake in Universal Music Group.
  

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)