We publish today the second section of our 1Q22 Bible, on the ride-sharing and food delivery market. Ride-sharing bookings recovered strongly from Omicron and will continue to grow strongly for the rest of the year. Our thesis is playing out, with #1 players, Uber and Grab, both expect increasing profitability as they benefit from scale and combined ride-sharing and delivery model while Lyft guided for lower profitability in 2Q22 as they increase investments into driver supply. Food delivery rem...
We publish today the latest edition of our Tech Bible. The Bible is a must-read for every tech investor, summarising our key learnings from following >120 companies in the tech universe and provides an updated view on how we see things playing out over the next year across the entire tech value chain (Cloud Infrastructure, Enterprise IT, Telcos, Automotive, Industrials, Ride-Sharing, PCs, Smartphones, Leading Edge Manufacturing, Memory and Semicap).
On 2nd Dec 2021, Didi announced that it would look to delist its ADRs from NYSE and it would seek a listing on HKSE. The stock was listed on NYSE on 30th Jun 2021, when it raised US$4.4bn at a valuation of US$67.5bn. However, since listing the stock has been at the center of a regulatory crackdown. Apart from the delisting and relisting flows, it now also has US$20bn+ of stock coming up for lock-up expiry. We have covered various aspects of the deal and regulatory developments in our earlier n...
We publish today the second section of our 3Q21 Bible, on the ride-sharing and food delivery market. Ride-sharing bookings continued to recover and were back to pre-Covid levels in several major economies, driving Uber to reach its first profitable quarter. Food delivery stabilized with summer seasonality, but there is still room for further growth, even as in-store dining reached all-time highs.
As always, during earnings season, we start on Mondays with a wrap-up of what happened in the previous week. For our main takes summarized on a single slide, and a few words for each of the 22 names we followed last week, follow the link below:
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
DiDi Chuxing (Didi), the world’s largest mobility technology platform, aims to raise up to US$4bn in its US listing. Its large backers include Softbank with a 21.5% stake, Uber with 12.8% and Tencent with 6.8% stake. Didi, is the world’s largest mobility technology platform. It is present in over 4,000 cities, counties and towns across 15 countries. As of twelve months ending (LTM) 1Q21, it had 493m annual active users and 15m drivers, who participated in 41m average daily transactions. It gene...
DiDi Chuxing (Didi), the world’s largest mobility technology platform, aims to raise up to US$10bn in its US listing. Its large backers include Softbank with a 21.5% stake, Uber with 12.8% and Tencent with 6.8% stake. Didi, is the world’s largest mobility technology platform. It is present in over 4,000 cities, counties and towns across 15 countries. As of twelve months ending (LTM) 1Q21, it had 493m annual active users and 15m drivers, who participated in 41m average daily transactions. It gen...
DiDi Chuxing (Didi), the world’s largest mobility technology platform, aims to raise up to US$10bn in its US listing. Its large backers include Softbank with a 21.5% stake, Uber with 12.8% and Tencent with 6.8% stake. Didi, is the world’s largest mobility technology platform. It is present in over 4,000 cities, counties and towns across 15 countries. As of twelve months ending (LTM) 1Q21, it had 493m annual active users and 15m drivers, who participated in 41m average daily transactions. It gen...
DiDi Chuxing (Didi), the world’s largest mobility technology platform, aims to raise up to US$10bn in its US listing. Softbank with a 21.5% stake, Uber with a 12.8% stake and Tencent with a 6.8% stake. Didi, is the world’s largest mobility technology platform. It is present in over 4,000 cities, counties and towns across 15 countries. As of twelve months ending (LTM) 1Q21, it had 493m annual active users and 15m drivers, who participated in 41m average daily transactions. It generated a gross t...
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