Published: April 06, 2020
Wong Kok Hoi, founder and CIO of Singapore-based APS Asset Management has been bearish on JD.com for years. Last week, SumZero published his full-length short report on the e-commerce giant, whose $60B valuation he deems "unjustified". We sat down with Wong for an in-depth dissection of his thesi...
Published: February 25, 2020
It's no secret that the Covid-19 coronavirus outbreak has had a widespread economic impact driven by disruptions in the supply chain, heightened by trade anxiety and the epidemiology of the virus itself. Despite ongoing drama, some Chinese companies are thriving. Case in point, JD.com, an e-comme...
Published: July 27, 2018
JD continues to exceed our projections for active customers, revenue growth, and category expansion, while operating profit is below our expectations. The latter is a result of JD reinvesting profits from mature product categories into newer ones - fast-moving consumer goods, otherwise known as F...