EQUITY RESEARCH | July 3, 2025 | 2:10AM HKT Navigating China Internet The 'everyday app' battle in eCommerce: food/instant delivery TAM, cross-sell & eventual landscape The intensity of competition between eCommerce players and local services leader Meituan in food delivery/instant shopping has elevated to a new level. Unlike previous investments by eCommerce players that were scaled back within a few quarters, we believe the duration of investments this time will extend for longer— given all of the compani ...

Key Takeaways Twilio's cross-sell push encourages customers to adopt multiple services beyond messaging. Large customers spending over $500,000 annually grew 37% year over year in the first quarter. Twilio is investing in sales training and easier product integration to support cross-sell growth.Twilio Inc. (TWLO) is working hard to turn its strong revenue growth into lasting profits. Notably, the company’s revenues grew 12% year over year in the first quarter of 2025, but non-GAAP gross margin contracted ...

16 May 2025 | 1:30AM HKT JD.com Inc. (JD): NDR highlights: Healthy JD Retail growth; investor focus on food delivery synergies and cross-sell potentials; Buy We hosted JD's CFO Mr. Ian Shan, Head of Investor Relations Mr. Sean Zhang, and the Investor Relations team with investors this week, post the company's 1Q results. Key investor focus areas/topics discussed included: 1) JD Retail guidance and outlook, where JD Retail saw its fastest quarterly active customer growth since 2021, at 20% yoy in 1Q25. Stron ...

Infrastructure Support Buildings & Technology Geospatial First Quarter 2025 Results May 1, 2025 Disclaimer This presentation contains forward-looking statements about the Company's future business and financial performance. These are based on management's current expectations and are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these statements are included in today's presentation slides and in our reports on file with the SEC. During this call, GAAP ...