ZTO Q120 Results Show Weak Cash Flow, Guidance Suggests Poor 'Conversion' Rest of 2020
On May 20, ZTO Express (ZTO US) reported a set of weak Q120 results after the US close; this was unsurprising given the dramatic impacts Covid-19...
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TRACKING TRAFFIC/Chinese Express: ASPs Fell 21-34% YoY in April on Competition, Growth of Low-End
Chinese express parcel volume grew by 32% YoY in April, the strongest growth so far in 2020 (growth in the key inter-city segment was even...
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JD.com (JD): Reason for Growth Surprise in 1Q2020
The pandemic damaged white goods that JD is not good at, but raised the demand for consumer electronics that JD is good at. We believe JD...
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China Internet Weekly (18May2020): In April, Packages Up 32% YoY and Cellphone Shipment Up 14% YoY
In April, home delivery packages increased by 32% YoY (Exhibit 1) and home delivery revenues increased 22% YoY. SF Express (002352 CN), a...
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Pinduoduo's Recent Moves Signal Desire to Develop Its Own Logistics Ecosystem
Recently, discount online retail platform Pinduoduo (PDD US) made two moves that indicate it plans to develop its own logistics ecosystem, as...
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