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Baozun Growth Slowdown Is An Optical Illusion

November 30th, 2019 · Comments Off on Baozun Growth Slowdown Is An Optical Illusion

The shares sold off on a reduced growth outlook and a slight Q3 non-GAAP earnings miss. We will argue that both are actually more positive than they are negative. Add to that a fairly reasonable valuation and we think the shares should recover in time. Source: Baozun Growth Slowdown Is An Optical Illusion – Baozun […]

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Tags: BZUN

SHU Portfolio: Baozun Sells At A Ridiculous Discount

March 24th, 2019 · Comments Off on SHU Portfolio: Baozun Sells At A Ridiculous Discount

Baozun has a unique position within the Chinese e-business landscape and despite a slowing economy and trade-tensions, it keeps on growing fast. The addition of new brands is accelerating and the company is embarking on getting more domestic customers with the help of its investments. These investments in technology, marketing and distribution have now reached […]

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Tags: BZUN

Baozun Has Ample Room For Valuation Expansion

August 20th, 2018 · Comments Off on Baozun Has Ample Room For Valuation Expansion

Baozun delivers a solid quarter with a surprising resurgence in product sales growth and margins. Margins are generally on an upward path, despite significant investment in distribution and technology. Sooner or later these investments are going to pay off, and with the shares selling at just 4.5 times trailing 12-month sales, the shares have ample […]

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Tags: BZUN

SHU Portfolio: Baozun Can Afford To Invest In Its Future

May 27th, 2018 · Comments Off on SHU Portfolio: Baozun Can Afford To Invest In Its Future

Investors seem to worry that management’s intention to invest more will come at the expense of margins and profits. The growth of the company and the higher margins, which are the result of the change in business model, allow the company to invest and still expand margins. Q1 results demonstrated that once again and the […]

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Tags: BZUN · SHU Portfolio

Are Investors Excessively Punishing Companies That Invest In Growth At The Expense Of Margins?

April 25th, 2018 · Comments Off on Are Investors Excessively Punishing Companies That Invest In Growth At The Expense Of Margins?

While not a systematic inquiry, we nevertheless spot quite a few companies whose shares get punished for investing when that results in some margin decline. With investment the cost gets in front of the benefits, so this will produce situations in which time will rectify the problem. This is especially the case with companies with […]

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Tags: BZUN · GOOG · JD · SKX

If We Had To Buy One Stock Right Now, It Would Be Baozun

April 9th, 2018 · Comments Off on If We Had To Buy One Stock Right Now, It Would Be Baozun

The company produced excellent Q4 results that took the market by surprise. But even after a substantial rally, the shares are still very reasonably priced. The company has a substantial growth path ahead of it, and while it is already profitable, one uncertainty remains whether the margin expansion will continue this year. Source: If We […]

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Tags: BZUN