China Internet Investment Report

Morgan Stanley analyst Grace Chen (Grace Chen) pointed out in the report, “Tencent in January this year in WeChat launched a small program function. This feature can not only retain the user, and can achieve monetization. Tencent radical mergers and acquisitions The strategy helped the company expand its footprint in the world, and the fast-growing payment business helped expand the company’s product line. ”

“Alibaba Group has been through the rich Taobao application of social function to increase user stickiness, through positioning technology to increase the ability to monetize, and focus on globalization and cloud business.” She said. “Ctrip is our long-term preferred stock in the field of online vertical, because the company has a dominant advantage in the fast-growing industry, and Ctrip has been aggressively expanding overseas. At the end of 2016, the company acquired the UK Air ticket price website Skyscanner, and two US travel sites through which the total contribution from Ctrip has grown from the international market.

“Street live and short video service, to promote the overall user participation, participation time and user retention and many other data, but also to the level of the monetization of the platform has been improved.We expect the street will get the live business of a strong cash The flow is used to expand the user base and develop new products to further drive the company’s long-term monetization level, “says Grace Chen. “Jingdong is more prominent because the company has the potential to improve profitability in the split loss of Jingdong Finance, we expect this will give Jingdong a positive impact on earnings.

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