WUBA: Positive On 2Q19, But Macro Negative Is Still Hanging In 3Q19; Maintain BUY

  • WUBA: Positive On 2Q19, But Macro Negative Is Still Hanging In 3Q19; Maintain BUY

WUBA will report 2Q19 results on August 22nd before the markets open with an 8am EST conference call. While we are positive toward its 2Q19 results, we believe its 3Q19 guidance is likely to be just in line with consensus. We used to believe that WUBA is totally shielded from the slowdown of the macro economy, as it serves a group of people and businesses that are less correlated with the macro; plus WUBA is still in the phase of expanding.

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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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