Independent TMT Analyst

Edison Lee, CFA

Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/179" target="_blank" data-smartkarma-citation="entities:179:1">Baidu Inc (ADR) (BIDU US)</a>  announced today that the consortium led by its founder and CEO Robin Li has withdrawn its non-binding offer to acquire iQiyi, the online video division of Baidu, because the consortium failed to agree with Baidu on the valuation.</li>
<li>As highlighted in my in-depth report <a href="https://www.smartkarma.com/insights/alphabet-beats-baidu-on-risk-growth-potential-and-valuation" target="_blank" data-smartkarma-citation="insights:4316">Alphabet Beats Baidu on Risk, Growth Potential and Valuation</a> , iQiyi is probably significantly loss-making because it faces intense competition from <a href="https://www.smartkarma.com/entities/787" target="_blank" data-smartkarma-citation="entities:787:1">Alibaba Group Holding Ltd (BABA US)</a> 's Youku Tudou and…</li>
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Baidu Inc (ADR) (BIDU US)  announced today that the consortium led by its founder and CEO Robin Li has withdrawn its non-binding offer to acquire iQiyi, the online video division of Baidu, because the consortium failed to agree with Baidu on the valuation.
As highlighted in my in-depth report Alphabet Beats Baidu on Risk, Growth Potential and Valuation , iQiyi is probably significantly loss-making because it faces intense competition from Alibaba Group Holding Ltd (BABA US) 's Youku Tudou and…


Baidu Cancelled MBO of Its Online Video Division; 3Q Guidance May Shock Negatively

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

In our initial note on <a href="https://www.smartkarma.com/entities/8239" target="_blank" data-smartkarma-citation="entities:8239:1">Air China Ltd (H)</a> in May, we recommended investors buy its shares based on several factors. First, two long-term "headwinds" -- high jet fuel prices and intense competition from China's High Speed Rail -- have abated (lower jet fuel prices are now a positive "tailwind", in fact). Just as important, Air China has managed to dramatically reduce Sales and Marketing expenses by cutting out intermediaries (such as <a href="https://www.smartkarma.com/entities/180" target="_blank" data-smartkarma-citation="entities:180:1">Ctrip.com International (ADR)</a>) and "going direct" to its…

In our initial note on Air China Ltd (H) in May, we recommended investors buy its shares based on several factors. First, two long-term "headwinds" -- high jet fuel prices and intense competition from China's High Speed Rail -- have abated (lower jet fuel prices are now a positive "tailwind", in fact). Just as important, Air China has managed to dramatically reduce Sales and Marketing expenses by cutting out intermediaries (such as Ctrip.com International (ADR)) and "going direct" to its…

Air China: International Demand and Fuel Still Tailwinds, CX Challenges Well-Known; Reiterate Buy

China Macroeconomics & Academia

Christopher Balding

Thematic (Sector/Industry)

The sluggish growth of Chinese economy in the past couple of months ignited concerns regarding the future of the economy. The slow growth in exports posed various threats to the highly leveraged economy which depends upon state owned enterprises and the debts owed by them. However, some sectors such as real estate have started to show signs of improvement which surely will help the economy.While the slow economic growth left Beijing concerned, the recent official data released by presents a…

The sluggish growth of Chinese economy in the past couple of months ignited concerns regarding the future of the economy. The slow growth in exports posed various threats to the highly leveraged economy which depends upon state owned enterprises and the debts owed by them. However, some sectors such as real estate have started to show signs of improvement which surely will help the economy.While the slow economic growth left Beijing concerned, the recent official data released by presents a…

Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

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In June the MNI China Consumer Sentiment Indicator (CSI) increased to a level of 115.9, just below the threshold level of 116 indicating consumers are in a state of panic. We continue to highlight our view that China’s economy is much stronger than depressed levels of Consumer Sentiment would suggest. We believe the Chinese government is aware of its recent confidence destabilizing policy moves and is focused on avoiding such moves in the near future, allowing consumers to pull out of a prolonged period of panic. Data collection for the MNI China Consumer Sentiment Survey ended by the June 23rd Brexit referendum. While it is not yet clear what impact the Brexit will have on the CSI it has the potential to adversely change the global economic outlook and the outlook for China. Over the next few weeks we will be monitoring the spillover effects of the Brexit carefully.

In June the MNI China Consumer Sentiment Indicator (CSI) increased to a level of 115.9, just below the threshold level of 116 indicating consumers are in a state of panic.  We continue to highlight our view that China’s economy is much stronger than depressed levels of Consumer Sentiment would suggest. We believe the Chinese government is aware of its recent confidence destabilizing policy moves and is focused on avoiding such moves in the near future, allowing consumers to pull out of a prolonged period of panic.  Data collection for the MNI China Consumer Sentiment Survey ended by the June 23rd Brexit referendum. While it is not yet clear what impact the Brexit will have on the CSI it has the potential to adversely change the global economic outlook and the outlook for China.  Over the next few weeks we will be monitoring the spillover effects of the Brexit carefully.

China Consumer Sentiment Rises in June as Panic Surrounding Slowing Economy Continues to Dissipate

Last week the immediate shock from the Brexit eased considerably. It has become clear that all the Brexit vote really did was guarantee a prolonged period of uncertainty. It has also become clear that it will take months to gauge the impact that this prolonged period of uncertainty will have on both the Eurozone and global economy.

Last week the immediate shock from the Brexit eased considerably. It has become clear that all the Brexit vote really did was guarantee a prolonged period of uncertainty. It has also become clear that it will take months to gauge the impact that this prolonged period of uncertainty will have on both the Eurozone and global economy.

What Investors Should Be Asking About A Brexit

China

Trip.com Group Ltd. provides online travel agency services. The Company offers mobile applications, hotel reservations, flight ticketing, package tours, corporate travel management, and train ticketing services.

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Trip.com (TCOM US)

Baidu Cancelled MBO of Its Online Video Division; 3Q Guidance May Shock Negatively

Baidu Inc (ADR) (BIDU US) announced today that the consortium led by its founder and CEO Robin Li has withdrawn its non-binding offer to acquire...

Edison Lee, CFA

Air China: International Demand and Fuel Still Tailwinds, CX Challenges Well-Known; Reiterate Buy

In our initial note on Air China Ltd (H) in May, we recommended investors buy its shares based on several factors. First, two long-term "headwinds"...

Daniel Hellberg

Inside the Chinese Retail Sector

The sluggish growth of Chinese economy in the past couple of months ignited concerns regarding the future of the economy. The slow growth in...

Christopher Balding

China Consumer Sentiment Rises in June as Panic Surrounding Slowing Economy Continues to Dissipate

In June the MNI China Consumer Sentiment Indicator (CSI) increased to a level of 115.9, just below the threshold level of 116 indicating consumers...

David Riedel

What Investors Should Be Asking About A Brexit

Last week the immediate shock from the Brexit eased considerably. It has become clear that all the Brexit vote really did was guarantee a prolonged...

David Riedel

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