Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Equity Bottom-Up

<ul><li>In the face of mounting American political and regulatory pressure, the Chinese video app TikTok officially launched an online shopping feature in the U.S., aiming to cash in on its popularity among 150 million American users.</li><li>TikTok Shop will give brands, merchants, and creators the tools to sell directly through content on the app, the ByteDance Ltd.-owned enterprise said in a press release.</li><li>Users will now find a “Shop” button prominently displayed in certain videos and can buy tagged products directly from videos and livestreaming.</li></ul>

In the face of mounting American political and regulatory pressure, the Chinese video app TikTok officially launched an online shopping feature in the U.S., aiming to cash in on its popularity among 150 million American users.TikTok Shop will give brands, merchants, and creators the tools to sell directly through content on the app, the ByteDance Ltd.-owned enterprise said in a press release.Users will now find a “Shop” button prominently displayed in certain videos and can buy tagged products directly from videos and livestreaming.

TikTok Launches In-App Shopping Feature in the U.S.

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba (ADR) (BABA US)</a> aims to complete a spin-off of the Cloud Intelligence Group via a stock dividend distribution, with it becoming publicly listed in the next 12 months.  </li>
<li>The Cloud business is pursuing a land-grab strategy to reignite growth. While it is the only profitable Chinese cloud platform, the profitability gap to Amazon AWS highlights the opportunity. </li>
<li>The aim to bring in external strategic investors before the spin-off will provide a valuation benchmark. Our analysis points to a Cloud business valuation range of US$45-58 billion. </li>
</ul>



Alibaba (ADR) (BABA US) aims to complete a spin-off of the Cloud Intelligence Group via a stock dividend distribution, with it becoming publicly listed in the next 12 months.  
The Cloud business is pursuing a land-grab strategy to reignite growth. While it is the only profitable Chinese cloud platform, the profitability gap to Amazon AWS highlights the opportunity. 
The aim to bring in external strategic investors before the spin-off will provide a valuation benchmark. Our analysis points to a Cloud business valuation range of US$45-58 billion. 


Alibaba’s Cloud Intelligence Group Spin-Off: The First Look

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

J&T Global Express / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/j-t-global-express" target="_blank" data-smartkarma-citation="entities:36819:1" rel="noopener">J&amp;T Global Express (1936374D CH)</a> is looking to raise about US$1bn in its upcoming Hong Kong IPO.</li>
<li>J&amp;T Global Express (J&amp;T) is a global logistics service provider. </li>
<li>As per Frost &amp; Sullivan (F&amp;S), the firm is the leading express delivery business in Southeast Asia, with a 22.5% market share as per 2022 parcel volume.</li>
</ul>



J&amp;T Global Express (1936374D CH) is looking to raise about US$1bn in its upcoming Hong Kong IPO.
J&amp;T Global Express (J&amp;T) is a global logistics service provider. 
As per Frost &amp; Sullivan (F&amp;S), the firm is the leading express delivery business in Southeast Asia, with a 22.5% market share as per 2022 parcel volume.


China/Asia TMT

Shawn Yang

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

<ul>
<li>Recently, there has been more discussion about TikTok's e-commerce business in Southeast Asia on Chinese media and social networks.</li>
<li>Many service providers and entrepreneurs in China have also been inspired and hope to take the lead in the market with their domestic experience.</li>
<li>We estimate that TikTok’s 2023 GMV in Southeast Asia will reach 20%~ of Shopee, and this is one of the key reasons why we are bearish to SE.</li>
</ul>


Recently, there has been more discussion about TikTok's e-commerce business in Southeast Asia on Chinese media and social networks.
Many service providers and entrepreneurs in China have also been inspired and hope to take the lead in the market with their domestic experience.
We estimate that TikTok’s 2023 GMV in Southeast Asia will reach 20%~ of Shopee, and this is one of the key reasons why we are bearish to SE.


SE/Tiktok:Chinese Practitioners' Discussions About TikTok's E-Commerce Business in Southeast Asia

Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>Reddit positioned itself as the populist, grassroots alternative, with a recommendation engine built around “karma” points to incentivize users to share high-quality content.</li><li>Reddit monetizes the strong commercial intent of users by selling advertisers sponsored posts in targeted subreddit communities (~93% of revenue) and from their $6/month subscription (~7%) to unlock ad-free browsing, awards, and other features.</li><li>Sacra estimates that Reddit made roughly $510M in 2022, up 36% from 2021 when it made $375M, with an average revenue per user (ARPU) of about $1.19, up from $0.81 in 2021, and roughly 430M monthly active users (MAUs).</li></ul>

Reddit positioned itself as the populist, grassroots alternative, with a recommendation engine built around “karma” points to incentivize users to share high-quality content.Reddit monetizes the strong commercial intent of users by selling advertisers sponsored posts in targeted subreddit communities (~93% of revenue) and from their $6/month subscription (~7%) to unlock ad-free browsing, awards, and other features.Sacra estimates that Reddit made roughly $510M in 2022, up 36% from 2021 when it made $375M, with an average revenue per user (ARPU) of about $1.19, up from $0.81 in 2021, and roughly 430M monthly active users (MAUs).

Reddit: The $510M/year Social Libertarian Superapp

China

Beijing Douyin Information Service Co. Ltd. provides online information and contents. The Company develops and operates short video platform, original short video community, news platform, and other related products. Beijing Douyin Information Service offers services worldwide.

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ByteDance (1439927D CH)

TikTok Launches In-App Shopping Feature in the U.S.

In the face of mounting American political and regulatory pressure, the Chinese video app TikTok officially launched an online shopping feature in...

Caixin Global

Alibaba’s Cloud Intelligence Group Spin-Off: The First Look

The aim to bring in external strategic investors before the spin-off will provide a valuation benchmark. Our analysis points to a Cloud business...

Arun George

J&T Global Express Pre-IPO Tearsheet

J&T Global Express (1936374D CH) is looking to raise about US$1bn in its upcoming Hong Kong IPO. J&T Global Express (J&T) is a global logistics...

Clarence Chu

SE/Tiktok:Chinese Practitioners' Discussions About TikTok's E-Commerce Business in Southeast Asia

Many service providers and entrepreneurs in China have been inspired and hope to take the lead in booming live streaming e-commerce in Southeast...

Blue Lotus Research Institute

Reddit: The $510M/year Social Libertarian Superapp

TL;DR: The latest Reddit (dataset) controversy is yet another conflict between the populist user base driving the content and experience and the...

Sacra

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