DaDa Group (DADA.US) – Note 5 (Rev. Recognition Change)

[March 19th, 2021] In note 4, I was concerned about the noises that accounting change will introduce. There’s no impact on profit dollar but still it will introduce noises. I expect to feel the impact first from the guidance of 2Q21 when the company reports 1Q21 results. Not sure if we will see a before-after … Continue reading DaDa Group (DADA.US) – Note 5 (Rev. Recognition Change)

JD Logistics – Note 1 (pre-hearing thoughts)

[March 11th, 2021] JD Logistics expects to list in Hong Kong. Some initial thoughts after skimming its prospectus. The characteristics of the business Heavy upfront/on-going investment in PP&E for logistics network and operating assets (a real asset & operation play)On-going investment in R&D for operating efficiency and capability (tech-driven) Labor intensive which might be a … Continue reading JD Logistics – Note 1 (pre-hearing thoughts)