China Internet Weekly (9Dec19): AliPay Crashed, 327 Companies Bankrupt in 2019 Vs. 2145 in 2017

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 "Last Week on China Internet", we have tried to summarize the weekly news flow. If you have any feedback positive/negative please do let us know.

• Alibaba Group Holding (BABA US)'s AliPay crashed for 25 minutes.
• Tencent Holdings (700 HK)’s cloud infrastructure grew most rapidly in China.
• Xiaomi Corp (1810 HK) entered Japan and Nintendo Co Ltd (7974 JP) entered China.
• By December 6^th, 327 online companies went bankrupt in 2019 versus 2,145 in 2017.
  

Ratings of our coverage in China:

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