bullish•JD Industrials•30 May 2023 09:55
JD Industrials Pre-IPO - Initial Thoughts on Valuation
JD Industrials is looking to raise about US$1bn in its upcoming HK IPO. In this note, we talk about our initial thoughts on valuations.
bearish•JD Industrials•29 May 2023 15:57
JD Industrials IPO: The Bear Case
The key elements of the bear case rest on slowing SME growth, declining key accounts take rate and gross margin, unnecessary factoring and transfer...
bullish•JD Industrials•28 May 2023 04:10
JD Industrials IPO: The Bull Case
The key elements of the bull case rest on large TAMs, market share gains, robust product revenue growth underpinned by key accounts, improving...
bullish•JD Industrials•25 May 2023 09:48
JD Industrials Pre-IPO - Peer Comparison - Some Interesting Nuggets from Peer Filings
JD Industrials is looking to raise about US$1bn in its upcoming HK IPO. In this note we talk about some additional useful information that we...
bullish•JD Industrials•24 May 2023 10:08