China Tech sell-off

Hasnain Malik

Strategy & Head of Equity Research @ Tellimer Research

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7 July 2021

• China Tech has underperformed global peers year to date due to domestic regulatory (antitrust, data privacy) concerns

• Consensus is concerned by threats to China Tech business models more than fines (eg merely c2% of sales for Alibaba)

• Alibaba is now by far the cheapest EM Tech stock on the basis of EV/Sales versus 2019-onwards median (40% discount)

Hasnain Malik

Strategy & Head of Equity Research @ Tellimer Research

Follow

7 July 2021

7 July 2021

Published byTellimer Research

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