TRACKING TRAFFIC/Chinese Express & Logistics: May ASPs Down | Last-Mile CapEx Plan | ZTO Shenanigans
Tracking Traffic/Chinese Express & Logistics is the hub for our research on China's express parcels and logistics sectors. Tracking...
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High-Conviction Short: Schemes That Lifted ZTO Margins In Q118 Likely to Unravel in H218 (Part 2/2)
This note is the second of a two-part report on ZTO Express (ZTO US) and its unique relationship with related party trucking vendor Tonglu Tongze...
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High-Conviction Short: Schemes That Lifted ZTO Margins In Q118 Likely to Unravel in H218 (Part 1/2)
In recent months, and in particular after the release of surprisingly strong Q118 results on May 9th, we have become more concerned about the murky...
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The Best Way to Play Oil with Cover
This has been a crazy market, with dollar, US market and oil strong at the same time, with commodities up in general, but on a hair trigger. It’s a...
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Best Inc.: Q118 Shows Booming Sales, More Losses, Still Net Cash
Q118 results from BEST Inc (BSTI US) look a lot like the company's other two quarterly releases it has put out since listing in September 2017:...
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