In today’s briefing:
- JD.com (9618 HK): To Keep Revenue at Any Cost
- Morning Views Asia: Greenland Holdings Corp, Softbank Group
- Sinosteel Gets Permit to Exploit Iron Ore in Cameroon
JD.com (9618 HK): To Keep Revenue at Any Cost
- JD is facing a severe logistics problem due to the lockdowns in many cities of China.
- We believe JD is trying to secure its revenue no matter how large the fulfillment expense is.
- We believe the stock has a downside of 22% for the year end 2022.
Morning Views Asia: Greenland Holdings Corp, Softbank Group
Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.
Sinosteel Gets Permit to Exploit Iron Ore in Cameroon
- China’s Sinosteel Corp. has struck a deal with the Cameroonian government to begin production of iron ore at a mine, becoming the latest Chinese firm to tap the valuable resource in West Africa.
- According to a company statement, Sinosteel obtained a permit to exploit the Lobé mine after signing a contract with Gabriel Dodo Ndoke, Cameroon’s minister of mines, industry and technological development
- The state-owned mining giant will invest about $700 million to develop the Lobé mine, which is estimated to have about 600 million tons of iron ore reserves
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