IQiyi (IQ): An Empty TV Box
We believe IQ’s cash will be used up within 6 quarters. We also believe IQ has limited abilities in obtaining more cash for...
656 Views
Baidu (BIDU): IQiyi (IQ) Became a Burden, 40% Downside to Book Value
The 2Q19 results are not as stable as it looks. The operating margin of the search business improved to 11% in 2Q19 versus 6% in 1Q19 at the...
606 Views
IQ Weakening H2: Deceleration in Subscription Due to Content Restriction;Worsening Ad Demand TP= $12
We are seeing that iQIYI Inc (IQ US) is struggling to simultaneously grow paying both user and monthly ARPU. Current ARPU is ~12.7RMB (less than...
544 Views
(Some) Promises Kept in 1Q19, but Retaining Sell Rating and $36 Target Price for Ctrip.com
When Ctrip.Com International (Adr) (CTRP US) reported 4Q18 results in early March, management committed to two objectives in 2019: lifting market...
752 Views
Trade War/Huawei/Economic Policy/Bad Bank/Market Opening
China News That Matters Don’t say we didn’t warn you! Twitching the iron curtain What to do as cars tank and profits droop Beijing rescues...
627 Views