Lufax IPO Initiation: Lost in Transition
We find it hard to be enthused by the Lufax story as its heavily reliant on a sector that has repeatedly been subject to regulatory blows which led...
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Ant Group IPO: Ant Vs CreditTech Peers
In our previous notes, we suggested that Ant’s medium-term revenue and margins are likely to be driven by its CreditTech business (refer our notes...
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China Internet Weekly (3Aug2020): JD Acquired Appliance Store, Xiaomi Phone Sales Plunged
JD.com (JD) acquired 100% of Five Star, a store chain of household appliance. Xiaomi (1810 HK)’s smartphone sales decreased by 35% YoY in...
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China Consumer Finance Pair Trade: Long 360 Finance/Short 9F
360 Finance, Inc. (QFIN US) is a leading online consumer lending platform and the finance partner of the 360 Group. 9F Inc (JFG US), a P2P lending...
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Home Credit IPO: Valuation a Tough Sell
Home Credit (HC HK) is a leading emerging market consumer finance provider. Home Credit has started a two-week pre-marketing roadshow for a Hong...
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