China Internet Weekly (18Nov19): Single Day, Alibaba's Record Sales, PPD's 6% Mkt Share Vs. JD's 17%

300 Views18 Nov 2019 12:28

While doing research on Chinese Internet companies, we frequently come across news that merits being highlighted to investors, however, it is not big enough to warrant a research note. In our inaugural "Last Week on China Internet", we have tried to summarize the weekly news flow. We plan to publish this on a test basis, thus, if you have any feedback positive/negative please do let us know.

  • Alibaba’s sales increased 26% and its logistics orders increased 24% on this Single Day over last year.
  • On Single day, Pinduoduo (PDD)’s market share is only 6% compared to 17% for JD.com (JD). We believe it is a feasible action to long JD and short PDD.
  • All three Chinese telecom operators are stagnant in revenues for the first three quarters of 2019.

Ratings of our coverage in China:

  • Buy: Alibaba (BABA), Tencent (700 HK), Meituan (3690), NetEase (NTES), TAL Education (TAL), New Oriental (EDU).
  • Hold: Ctrip.com (CTRP), Autohome (HTHM), 58.com (WUBA)
  • Sell: Tencent Music (TME), Baidu (BIDU), Weibo (WB)
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