In today’s briefing:
- JD Logistics Q424 Earnings: Taobao / Tmall Access Fails to Generate Expected Benefits
- Last Week in Event SPACE: Cheung Kong, Macromill, China National Building Material, Canvest
JD Logistics Q424 Earnings: Taobao / Tmall Access Fails to Generate Expected Benefits
- Investors had hoped to see tangible benefits of Taobao / Tmall access in Q424 results
- But revenue growth acceleration was unimpressive, and core margins fell noticeably
- We believe its disappointing Q424 numbers will result in near-term underperformance
Last Week in Event SPACE: Cheung Kong, Macromill, China National Building Material, Canvest
- Did Trump do CKH (1 HK) a solid, convincing them to sell assets that have profited from international trade growth, just as Trump starts imposing tariffs on anything that moves?
- An OK package for Seven & I (3382 JP). Not perfect. SEI IPO’s a bit dodgy. It may be designed to spur ACT into action, but isn’t an awful fallback.
- Macromill (3978 JP)‘s Offer bumped. If you want to make sure this deal doesn’t get done, do the things you need to do to make sure it doesn’t get done.
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