Tencent Continues to Surge past Expectations. Its Earnings Flexibility Makes It a Core Holding.
We updated our price target and forecasts for Tencent (700 HK) recently ahead of the 2Q result. Our price target moved from HK$260 to HK$371. The...
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Baidu Beats Expectations in 2Q17 but Too Early to Cheer. We Remain at Neutral.
Whilst positive sentiment built up after the company’s impressive AI developers’ conference, we remain cautious on near to mid-term monetization at...
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Weibo: Regulatory Risk Returns but Impact Is Still Unclear.
Having just upgraded Weibo (WB US) on improving visibility, a problem has arisen. We have been increasingly appreciative of the growth potential...
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Sina/Weibo on Track for Revenue Acceleration
We are more positive on the growth potential of Weibo (WB US) after it beat expectations in 1Q. China is still in an early stage of social...
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China Internet: Online Advertising Now >50% of Total Chinese Ad Spend.
Listed Chinese Internet companies posted 26% YoY revenue growth in 4Q16, a modest rebound from 22% growth in 3Q but still below the low 40s growth...
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