China Consumption Weekly (2 Dec 2024): Starbucks, Chow Tai Fook, SAIC, Volkswagen, BYD
Starbucks’ CEO of China denied the rumor that Starbucks will sell its Chinese businesses. Chow Tai Fook closed 239 stores. SAIC and Volkswagen will...
234 Views
MT/ Meituan (3690): 3Q24, Excellent Results, Still 46% Upside
Revenue grew by 22% YoY and operating margin improved 8 percentage points YoY in 3Q24. All Business lines grew strongly. We believe the stock has...
277 Views
Xiaomi (1810 HK): Three Months Surge Overvalued Vehicle Business
Xiaomi’s stock price has risen 62% since our buy rating after 2Q24 results. The sum-of-the-parts valuation suggests significant downside for next...
251 Views
MT/Meituan (3690 HK) 3Q24 Earnings Preview: Upside Narrowed to 50%
We still believe the stock has an upside of 49% after rising 84%. We believe the operating margin will improve significantly and the growth rates...
375 Views
China Consumption Weekly (25 Nov 2024): Xiaomi, Haier, Autohome, Xpeng, Full Truck, Tongcheng
Haier plans to acquire Autohome. In 3Q24, Xiaomi's revenue grew by 30% YoY or 17% YoY without electric vehicle. Tongcheng Travel revenue increased...
228 Views