In today’s briefing:
- SEA EConomy – A Squall in 2022 with Rough Seas Ahead
- GEM Weekly (28 Oct 2022): China GDP, Retail Sales, South Korea GDP; SK Hynix, Flipkart
- China Healthcare Weekly (Oct28)-OK Lens VBP, Time Required for Biotech to Make Profit, World Changes
- Japan’s Consumer Electronics Retailers Face Tough Outlook
SEA EConomy – A Squall in 2022 with Rough Seas Ahead
- Google, Temasek, and Bain&Co just released their much-anticipated eConomy SEA 2022 report outlining recent trends and future expectations for South-East Asia’s digital economy.
- No doubt post-pandemic growth has been tapering but the long-term growth story remains intact. The key focus has switched to the path to profitability versus headline growth.
- Major digital players in South-East Asia will release 3Q results next month with all eyes focused on take rates, contribution margins, and Adjusted EBITDA margins rather than headline growth.
GEM Weekly (28 Oct 2022): China GDP, Retail Sales, South Korea GDP; SK Hynix, Flipkart
- The Global Emerging Markets weekly provides a summary of the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.
- Macro data points: Chinese GDP, industrial production, retail sales, exports; South Korean GDP
- Companies mentioned:SK Hynix (000660 KS), Flipkart Online Services (1398508D IN), Walmart (WMT US)
China Healthcare Weekly (Oct28)-OK Lens VBP, Time Required for Biotech to Make Profit, World Changes
- After the centralized procurement in Hebei Province included OK lens, products with high gross margin and low market penetration rate seem to be the new trend of centralized procurement.
- Although the current valuation of healthcare industry is relatively low compared with historical levels, that comparison is of little significance due to the fast pace of change.
- In terms of when domestic biotech companies could achieve break-even, there is some logic actually. Investors can estimate the time for biotechs to achieve profitability.
Japan’s Consumer Electronics Retailers Face Tough Outlook
- Consumer electronics retailers and producers benefited a lot from the pandemic, supplying customers stuck at home with kit for work and play.
- The Olympics also encouraged people to update their TVs and entertainment systems.
- Now, sales are falling to pre-2020 levels due to saturation. Inflationary pressures also mean more people are turning to second-hand options or simply not replacing old appliances at all.
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