Co-Founder & CEO, Newmark Risk

Nicholas Pezolano

Co-Founder & CEO

Option analytics for institutional investors

Newmark Risk

Fin-tech company focused on providing option derived analytics for institutional investors.

We handle the complexity of options data so you don't have to.

- Data and Analytics available all in one place so you can focus on Strategy Development
- Custom Solutions for your data and/or portfolio needs
- Advisory services to lend our expertise

Knowledge is something that was meant to be shared and we provide insights to our clients and to the community via posting about our research findings.

Equity Derivatives

TSE Tokyo Price Index TOPIX / Equity Derivatives

<ul><li>A cross-country study on the post earning announcement drift effect.</li><li>We explore the use of various options-implied analytics to systematically view returns around earnings announcements.  </li><li>Options-Implied Analytics can provide empowering information to better inform investment decisions.</li></ul>

A cross-country study on the post earning announcement drift effect.We explore the use of various options-implied analytics to systematically view returns around earnings announcements.  Options-Implied Analytics can provide empowering information to better inform investment decisions.

EQD | A Systematic Look at the Post Earnings Announcement Drift Across Asia

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Equity Bottom-Up

<ul><li>For 4Q24E, we anticipate that JD.com (JD) has inked total revenue of RMB334.6bn, up 9.3% YoY, 3% better than Bloomberg consensus, driven by: 1) the nationwide implementation of home appliance trade-in program; 2) JD’s greater than industry average GMV exposure in home appliance category; and 3) JD’s strong supply chain capability of first-party (1P) business.</li><li>We are also looking for 13.2% YoY growth in non-GAAP net profit for JD, 16% better than consensus, aided by likely better than market expected gross margin expansion and more optimized sales and marketing cost saving from the trade-in program and relatively stable industry competitive landscape.</li><li>We maintain our view that JD is better-positioned than peers to benefit from the nationwide trade-in program in the short term, while quality and sustainable earnings growth of core business as well as enhancement of shareholder return remain key stock price drivers in the long term, in our view. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

For 4Q24E, we anticipate that JD.com (JD) has inked total revenue of RMB334.6bn, up 9.3% YoY, 3% better than Bloomberg consensus, driven by: 1) the nationwide implementation of home appliance trade-in program; 2) JD’s greater than industry average GMV exposure in home appliance category; and 3) JD’s strong supply chain capability of first-party (1P) business.We are also looking for 13.2% YoY growth in non-GAAP net profit for JD, 16% better than consensus, aided by likely better than market expected gross margin expansion and more optimized sales and marketing cost saving from the trade-in program and relatively stable industry competitive landscape.We maintain our view that JD is better-positioned than peers to benefit from the nationwide trade-in program in the short term, while quality and sustainable earnings growth of core business as well as enhancement of shareholder return remain key stock price drivers in the long term, in our view. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

JD.com (JD US) - Expecting Solid 4Q24 Results Driven by Home Appliance Trade-In Program

Research from Asian Century Stocks, Asian Century Stocks

Michael Fritzell

Research from Asian Century Stocks

Providing financial journalism in the Asia-Pacific

Asian Century Stocks

Asian Century Stocks is a newsletter providing financial journalism for companies and stocks in the Asia-Pacific. 
The Asian Century Stocks logotype “百” stands for “one hundred” or a “century”. The economic centre of gravity is moving towards Asia. Yet most global investors are missing out.

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China-focused Twitter user “pandawatch” posted a <a href="https://x.com/pandawatch88/status/1878809424607019133" target="_blank" rel="noopener">tweet</a> comparing the total shareholder return of Chinese tech companies.
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At the top of the list was online retailer JD.com (JD US — US$57 billion) with a total dividend yield and buyback yield of 10% — even after deducting share-based compensation. That’s impressively high.
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<li>JD is one of China’s largest e-commerce companies. It dominates the niche of selling authentic, branded goods online with fast and reliable delivery.</li>
</ul>



China-focused Twitter user “pandawatch” posted a tweet comparing the total shareholder return of Chinese tech companies.


At the top of the list was online retailer JD.com (JD US — US$57 billion) with a total dividend yield and buyback yield of 10% — even after deducting share-based compensation. That’s impressively high.

JD is one of China’s largest e-commerce companies. It dominates the niche of selling authentic, branded goods online with fast and reliable delivery.


JD.com (JD US): Trusted Online Retailer Trading at a 9x P/E with a Coming Margin Inflection

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

<ul><li>JD.com is a profitable Chinese e-commerce company trading below its cash value</li><li>Despite challenges in China's retail market and competition from rivals, JD.com offers a potential 2x-3x upside over the next two years</li><li>Stock has fallen approximately 20% since last write-up, presenting a good opportunity for investors</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

JD.com is a profitable Chinese e-commerce company trading below its cash valueDespite challenges in China's retail market and competition from rivals, JD.com offers a potential 2x-3x upside over the next two yearsStock has fallen approximately 20% since last write-up, presenting a good opportunity for investorsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>JD.com, a major player in China's e-commerce landscape, released its third-quarter 2024 financial results, showcasing both advancements and challenges across its operations.</li><li>The company reported a solid performance with a 5% year-on-year increase in net revenues to RMB 260 billion.</li><li>This growth was driven by improvements in multiple segments, including electronics and home appliances and the general merchandise category.</li></ul>

JD.com, a major player in China's e-commerce landscape, released its third-quarter 2024 financial results, showcasing both advancements and challenges across its operations.The company reported a solid performance with a 5% year-on-year increase in net revenues to RMB 260 billion.This growth was driven by improvements in multiple segments, including electronics and home appliances and the general merchandise category.

JD.com Inc.: Can Its Diversification in Merchandise Categories Help Tilt The Competitive Dynamics In Its Favor? - Major Drivers

China

JD.com, Inc. is an online direct sales company in China. The Company offers a wide selection of products through its website and mobile applications. JD.com sells appliances, computers, digital products, communication products, garments, books, and household items to consumers and vendors.

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JD.com (9618 HK)

EQD | A Systematic Look at the Post Earnings Announcement Drift Across Asia

We leverage a few analytics from NewMark Risk's proprietary Options Implied Analytics library to enhance common strategies to trade earnings...

Nicholas Pezolano

JD.com (JD US) - Expecting Solid 4Q24 Results Driven by Home Appliance Trade-In Program

We are also looking for 13.2% YoY growth in non-GAAP net profit for JD, 16% better than consensus, aided by likely better than market expected...

CMB International

JD.com (JD US): Trusted Online Retailer Trading at a 9x P/E with a Coming Margin Inflection

China-focused Twitter user “pandawatch” posted a tweet comparing the total shareholder return of Chinese tech companies.

Asian Century Stocks

Jd.Com Inc (JD) - Friday, Sep 13, 2024

Despite challenges in China's retail market and competition from rivals, JD.com offers a potential 2x-3x upside over the next two years

Value Investors Club

JD.com Inc.: Can Its Diversification in Merchandise Categories Help Tilt The Competitive Dynamics In Its Favor? - Major Drivers

JD.com, a major player in China's e-commerce landscape, released its third-quarter 2024 financial results, showcasing both advancements and...

Baptista Research

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