Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Equity Analyst with 15+ years of experience as a Buy Side analyst covering companies in the Emerging and Developed markets.
Fundamental and Quantitative analysis on companies in the Internet, Telecommunication, Media, Technology, IT Services, Healthcare, Pharmaceutical and other Industrial sectors.
Idea generation focussed on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

Global Emerging Market Equities

JD.com (9618) Re Test of Low Sets up a Very Bullish 2H 2022

Vipshop: With Net Cash at Nearly 50% of Market Cap, Is It a Value Trap or a Takeover Target?

Alibaba: Accelerating Retail Sales, and a Depressed Comp Base, Bode Well for Near-Term Earnings

JD.com: A Detailed Look at Long-Term Margins and Valuation

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jd-com-inc" target="_blank" data-smartkarma-citation="entities:29043:1" rel="noopener">JD.com Inc. (9618 HK)</a> has been able to sustain its relative market share gains, in Chinese online retail sales, over the past two years, despite increased competitive pressure.</li>
<li>Recent weakness in its margin progression trajectory has cast doubts on its ability to realise its potential for long-term margin expansion.</li>
<li>With net cash at 31% of its market cap, relative valuation levels seem attractive.</li>
</ul>



JD.com Inc. (9618 HK) has been able to sustain its relative market share gains, in Chinese online retail sales, over the past two years, despite increased competitive pressure.
Recent weakness in its margin progression trajectory has cast doubts on its ability to realise its potential for long-term margin expansion.
With net cash at 31% of its market cap, relative valuation levels seem attractive.


JD.com: Can Sustained Market Share Gains Be Transferred into Sustained Margin Progression?