NetEase (NTES): Slow Down? Operating Profits Up 49% YOY! 30% Upside
We believe investors should focus on margins, but not revenue growth. We believe EPS will increase by 65% in 2019 and 28% in 2020 due to the...
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Tencent: Underperformed Netease in Latest Import Game Approvals
Last Friday, the Chinese regulator published the fourth batch of approvals for game imports. In our previous note back in January this year, we...
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NetEase (NTES): Game Business Worth Upside of 28~40% and There Is E-Commerce
During the license suspension, NetEase showed the ability of developing new versions and contents based on the licensed games. The China Press...
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Sea Ltd (SE US): The Bear Case - A One-Hit Wonder?
Despite burning through $700mn in cash in 2018, investors decided to give another $1.3bn to Sea Ltd (SE US) . We believe investors should treat Sea...
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Sea Ltd (SE US): Placement a Good Opportunity to Enter an Attractive Story
Last Friday, Sea Ltd (SE US)Â unveiled plans to raise around $1 billion (based on the closing price on 28 February) through an underwritten public...
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