Tencent Music (TME): Problems Come from Corporate Clients and In-House Contents, 35% Downside
Stripping music subscription revenues, we find TME’s revenues from corporate clients are not stable. We believe in-house products will negatively...
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Tencent Music 4Q18 Quick Note - Growth on Track, Margins Could Drag - Stock Price Needs a Breather
Tencent Music Entertainment (TME US) reported its full year results today, post US market close. Revenue growth was slightly ahead of estimates as...
710 Views
QTT Q4 Misses Revealing a Moat-Less Business; Lockup Expiration to Catalyze Selloff
The key operating matrix of Qutoutiao Inc (QTT US) deteriorated alarmingly in Q4, even with the help of Midu, a mobile literature reading app...
268 Views
Last Week in GER IPO Research: Leong Hup, China Tobacco, Futu and Weimob
We slide into 2019 with GER's recap of our latest IPO research. This week, we talk chicken as Arun initiates on the IPO Malaysian poultry producer...
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Tencent Music: Short Idea on Consumption Slowdown Angle
Tencent Music Entertainment (TME US)'s social entertainment services (discretionary consumption in nature) face more headwinds due to ongoing...
756 Views