BZUN: Strong Huawei Store Sales Driving GMV Growth; Further Shifting In Business Model Driving Take Rate; Prudent In 2Q19
BZUN will report 1Q19 results on May 29th before the markets open with an 8am EST conference call. Based on our data and model, we believe the company’s net revenue in 1Q19 is likely to be higher than consensus at RMB 1,285M and higher than the high-end of guidance range of RMB 1,250M – 1,300M (36% - 41% Y/Y growth). Also, due to the shift toward more non-distribution business model, we believe its take rate in 1Q19 is likely to be better than 1Q18.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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