Alibaba (9988 HK): 4Q24, Main Business Began to Grow
Customer management as the largest business began to increase compared to the past two stagnant quarters. We believe margin will continue to...
261 Views
Tencent (700 HK): 1Q24, Highest Margin in Seven Years
The operating margin in 1Q24 reached the highest since 2Q16, as the gross margins of all businesses improved. The growth rate of online advertising...
255 Views
China Consumption Weekly (13 May 2024): Guangzhou Auto, NIO, CALT, Kuaishou, Trip.com, Seres
The NEV producers’ ranks changed a lot in April. GAC began to sell batteries to outside new energy vehicle producers. Kuaishou’s GMV increased by...
191 Views
Tencent (700 HK): 1Q24 Preview, EPS Up by 40%, But Upside Narrowed by Significant Price Rise
We believe, in 1Q24, rrevenue will grow by 7% YoY and EPS will grow by 41%. The stock has risen by 26% since our last Buy rating, but there is...
343 Views
Alibaba (BABA US) 4Q24 Preview: Many Moves Under One-Digit Growth, 46% Upside
We believe Alibaba has been actively raising its revenue growth, but this the effect cannot be seen in the short run. We conclude the stock has an...
319 Views