VIPS: Transitioning In 2H2018 With Lower Revenue Growth But Margins Are Recovering
VIPS will report 3Q18 results on November 14th after the markets close followed by a conference call the next day at 8am EST. Based on our data, we believe VIPS’ revenue in 3Q18 is likely to be RMB17,561M (+14.7% Y/Y), at the middle of its guidance range of RMB17.3B – 18.1B (13% - 18% Y/Y growth) and largely inline with consensus at RMB17,600M, and slightly higher than our model at RMB17,361M.
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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