Differentiated global TMT & Internet Research

New Street Research Insights

New Street Research

Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
US Healthcare
Japanese Healthcare

We also provide debt research on:
Pan European Telecom Services and Cable

Equity Bottom-Up

<p>Yirendai is an online consumer finance peer-to-peer (P2P) marketplace spun-off from and 85.5% owned by CreditEase, one of the earliest and largest private financial services company in China. The company mostly generates revenue through transaction fees collected from borrowers with some modest contribution from service fees collected from investors. Unsecured consumer credit is a $700bn market in China according to iResearch, with 60-70% of that accounted for by credit cards.  We do not cover Yirendai but track the company as part of our Internet coverage. <a href="https://www.smartkarma.com/entities/179" target="_blank" data-smartkarma-citation="entities:179:1">Baidu (BIDU US)</a> is a strategic investor and both companies want to deepen collaboration on data analytics and customized lending products. We wrote about Baidu's skill set in <a href="https://www.smartkarma.com/insights/baidu-stresses-technological-prowess-but-profitability-lags" target="_blank" data-smartkarma-citation="insights:5686">BAIDU Stresses Technological Prowess, but Profitability Lags</a>. </p><p>Yirendai is a differentiated fintech play with superior analytics and its links to CreditEase and Baidu. It is an early mover in online P2P lending which we see as a niche with room to grow, notwithstanding regulatory issues. There are also risks from fraud and the focus on low-quality borrowers means that defaults will always be an issue but Yirendai hopes its data analytics will keep the issue at a manageable level.</p>

Yirendai is an online consumer finance peer-to-peer (P2P) marketplace spun-off from and 85.5% owned by CreditEase, one of the earliest and largest private financial services company in China. The company mostly generates revenue through transaction fees collected from borrowers with some modest contribution from service fees collected from investors. Unsecured consumer credit is a $700bn market in China according to iResearch, with 60-70% of that accounted for by credit cards.  We do not cover Yirendai but track the company as part of our Internet coverage. Baidu (BIDU US) is a strategic investor and both companies want to deepen collaboration on data analytics and customized lending products. We wrote about Baidu's skill set in BAIDU Stresses Technological Prowess, but Profitability Lags. Yirendai is a differentiated fintech play with superior analytics and its links to CreditEase and Baidu. It is an early mover in online P2P lending which we see as a niche with room to grow, notwithstanding regulatory issues. There are also risks from fraud and the focus on low-quality borrowers means that defaults will always be an issue but Yirendai hopes its data analytics will keep the issue at a manageable level.

Yirendai (YRD US) Offers A (Mostly) Direct Play on the Growth of Chinese Internet Finance.

Yirendai Ltd

Yirendai (YRD US) Offers A (Mostly) Direct Play on the Growth of Chinese Internet Finance.