• WUBA2017-11-09

    WUBA: 3Q17 Data Suggest Performance Likely to Beat Consensus; Downward Trend in Housing Sector is Worrisome; Maintain BUY

    WUBA will report 3Q17 results on Monday, November 13, 2017 before the market opens with an 8am ET conference call. Based on our data and calculations, we believe WUBA’s 3Q17 revenue is likely to outperform consensus at $387.7M (RMB2,569.6M) and our model at $394.2M driven by the growth in total paying merchants. In China’s housing market, the data showed some slowdown in transactions, which we believe can be a negative growth factor for the company’s housing business. However, as WUBA is innovat……

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  • WUBA2016-05-30

    58.com Inc.: TH Data Suggests Better 1Q16 Results; Opearting Margin Is Likely To Improve Due To The Deconsolidation Of 58 Home

    WUBA will report 1Q16results on Thursday, June 2 before the markets open with an 8am EST conferencecall. Our proprietary data suggests that WUBA is likely to report 1Q16 resultsbetter than the Street expectation due to the increase in both membership andbidding businesses. More importantly, we believe WUBA is likely to improve its non-GAAPoperating margin in 2016 compared with 2015, due to the deconsolidation ofGuazi and 58 Home. We initiate the coverage of WUBA with a BUY rating and pricetarget……

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  • WUBA2016-02-26

    WUBA: Data Suggest 4Q15 Results May Be Better Than Consensus; 1Q16 Guidance May Be In Line

    WUBA will report 4Q15 results on Friday, February 26 before the markets open with an 8am EST conference call. Our proprietary data suggest that WUBA is likely to report 4Q15 results better than the Street expectation due to the increase in activity in Yellow Page, used car and secondary housing. For 1Q16, we believe WUBA is likely to guide revenue at least in line with consensus. Longer term-wise, we remain positive on the stock as WUBA is a monopoly in marketing services serving individuals and……

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  • WUBA2014-08-19

    T. H. Data Flash – 58.com Inc. – July 2014: Rapid Growth in the Number of Paid Listings Driven By Housing in 2Q14

    T. H. Data Flash – 58.com Inc. – July 2014Rapid Growth in the Number of Paid Listings Driven By Housing in 2Q14Data in this report is extracted from publicly available sources and processed with our proprietary methodology.April - July 2014 Operation Data Highlights:In 2Q14, the number of daily paid listings increased 49.7% Q/Q for WUBA and 15.2% Q/Qfor Ganji, according to our proprietary data. In July, the M/M growth rates were 4.7% and 6.4% for WUBA and Ganji, respectively (Figure 1, 2 & 3……

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T.H. Capital is an independent research and investment advisory firm specializing in China. We offer 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 the China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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