Ratings by Macquarie (Ellie Jiang)

Date CompanySymbol Type Rating
(Past)
PT
(Past)
Start $
(End $)
% Chg. Details
9/16/2026 Trip.com Group Limited TCOM Upgrade Outperform
(Neutral)
39.25
(38.90)
-0.89% Details
8/20/2026 NetEase.com NTES Maintain Outperform
(N/A)
 
 
  Details
8/14/2026 DiDi Global DIDIY Upgrade Outperform
(Neutral)
3.54
(3.60)
1.69% Details
7/13/2026 JD.com, Inc JD Maintain Outperform
(N/A)
 
 
  Details
7/10/2026 Alibaba BABA Maintain Outperform
(N/A)
 
 
  Details
6/26/2026 Trip.com Group Limited TCOM Downgrade Neutral
(Outperform)
46.30
(39.25)
-15.23% Details
5/28/2026 Pinduoduo Inc. PDD Downgrade Neutral
(Outperform)
96.64
(81.35)
-15.82% Details
5/20/2026 Kanzhun Ltd. BZ Maintain Outperform
(N/A)
 
 
  Details
5/19/2026 Bilibili BILI Maintain Outperform
(N/A)
 
 
  Details
4/14/2026 Baidu BIDU Maintain Outperform
(N/A)
 
 
  Details
4/14/2026 JD.com, Inc JD Upgrade Outperform
(Neutral)
28.94
(27.09)
-6.39% Details
4/9/2026 Alibaba BABA Maintain Outperform
(N/A)
 
 
  Details
3/25/2026 Pinduoduo Inc. PDD Maintain Outperform
(N/A)
 
 
  Details
3/18/2026 GDS Holdings GDS Maintain Outperform
(N/A)
 
 
  Details
3/17/2026 Tencent Music Entertainment Group TME Maintain Neutral
(N/A)
 
 
  Details
3/16/2026 DiDi Global DIDIY Downgrade Neutral
(Outperform)
4.19
(3.54)
-15.51% Details
3/5/2026 JD.com, Inc JD Maintain Neutral
(N/A)
 
 
  Details
3/5/2026 Tencent Music Entertainment Group TME Downgrade Neutral
(Outperform)
14.14
(8.38)
-40.74% Details
2/26/2026 Baidu BIDU Maintain Outperform
(N/A)
 
 
  Details
2/9/2026 ZTO Express ZTO Upgrade Outperform
(Neutral)
23.63
(23.17)
-1.95% Details
11/25/2025 Alibaba BABA Maintain Outperform
(N/A)
 
 
  Details
11/13/2025 JD.com, Inc JD Maintain Neutral
(N/A)
 
 
  Details
11/12/2025 Tencent Music Entertainment Group TME Maintain Outperform
(N/A)
 
 
  Details
11/6/2025 GDS Holdings GDS New Coverage Outperform
(N/A)
33.02
(30.97)
-6.21% Details
10/14/2025 Bilibili BILI New Coverage Outperform
(N/A)
26.60
(15.49)
-41.77% Details
10/10/2025 Baidu BIDU Upgrade Outperform
(Neutral)
137.90
(85.33)
-38.12% Details
9/26/2025 Alibaba BABA Maintain Outperform
(N/A)
 
 
  Details
8/25/2025 Pinduoduo Inc. PDD Maintain Outperform
(N/A)
 
 
  Details
8/14/2025 NetEase.com NTES Maintain Outperform
(N/A)
 
 
  Details
7/10/2025 Alibaba BABA Maintain Outperform
(N/A)
 
 
  Details
6/17/2025 Tencent Music Entertainment Group TME Maintain Outperform
(N/A)
 
 
  Details
6/4/2025 Alibaba BABA Maintain Outperform
(N/A)
 
 
  Details
5/27/2025 Pinduoduo Inc. PDD Maintain Outperform
(N/A)
 
 
  Details
5/13/2025 Tencent Music Entertainment Group TME Maintain Outperform
(N/A)
 
 
  Details
4/14/2025 Baidu BIDU Maintain Neutral
(N/A)
 
 
  Details
2/18/2025 Baidu BIDU Maintain Neutral
(N/A)
 
 
  Details
11/19/2024 Trip.com Group Limited TCOM Maintain Outperform
(N/A)
 
 
  Details
10/7/2024 Pinduoduo Inc. PDD Upgrade Outperform
(Neutral)
152.62
(96.64)
-36.68% Details
10/7/2024 Alibaba BABA Upgrade Outperform
(Neutral)
112.84
(111.37)
-1.3% Details
9/24/2024 DiDi Global DIDIY New Coverage Outperform
(N/A)
3.99
(4.19)
5.01% Details
8/26/2024 Pinduoduo Inc. PDD Downgrade Neutral
(Outperform)
139.87
(81.35)
-41.84% Details
6/26/2024 ZTO Express ZTO Downgrade Neutral
(Outperform)
21.55
(23.63)
9.65% Details
5/17/2024 JD.com, Inc JD Upgrade Outperform
(Neutral)
33.62
(28.94)
-13.92% Details
3/4/2024 NetEase.com NTES Maintain Outperform
(N/A)
 
 
  Details
2/8/2024 Alibaba BABA Downgrade Neutral
(Outperform)
78.23
(111.37)
42.36% Details
1/11/2024 NetEase.com NTES New Coverage Outperform
(N/A)
89.44
(124.24)
38.91% Details
1/11/2024 Baidu BIDU New Coverage Outperform
(N/A)
116.20
(137.90)
18.67% Details
1/10/2024 Tencent Music Entertainment Group TME Upgrade Outperform
(Neutral)
8.81
(14.14)
60.5% Details
10/13/2023 JD.com, Inc JD Downgrade Neutral
(Outperform)
30.34
(33.62)
10.81% Details
9/6/2023 Trip.com Group Limited TCOM Maintain Outperform
(N/A)
 
 
  Details
8/31/2023 Pinduoduo Inc. PDD Maintain Outperform
(N/A)
 
 
  Details
6/9/2023 Trip.com Group Limited TCOM Maintain Outperform
(N/A)
 
 
  Details
5/29/2023 Pinduoduo Inc. PDD Maintain Outperform
(N/A)
 
 
  Details
5/17/2023 Tencent Music Entertainment Group TME Upgrade Neutral
(Underperform)
7.96
(8.38)
5.28% Details
3/23/2023 Tencent Music Entertainment Group TME Maintain Underperform
(N/A)
 
 
  Details
1/12/2023 Pinduoduo Inc. PDD Maintain Outperform
(N/A)
 
 
  Details
11/29/2022 Pinduoduo Inc. PDD Maintain Outperform
(N/A)
 
 
  Details
11/22/2022 ZTO Express ZTO Maintain Outperform
(N/A)
 
 
  Details
10/11/2022 JD.com, Inc JD Maintain Outperform
(N/A)
 
 
  Details
5/30/2022 Alibaba BABA Maintain Outperform
(N/A)
 
 
  Details
3/15/2022 TripAdvisor TRIP Upgrade Outperform
(Neutral)
23.73
(8.68)
-63.42% Details
2/28/2022 Alibaba BABA Maintain Outperform
(N/A)
 
 
  Details
1/9/2022 Alibaba BABA Maintain Outperform
(N/A)
 
 
  Details
12/7/2021 JD.com, Inc JD New Coverage Outperform
(N/A)
75.19
(27.09)
-63.97% Details
12/7/2021 Alibaba BABA New Coverage Outperform
(N/A)
123.60
(111.37)
-9.89% Details
12/7/2021 Pinduoduo Inc. PDD New Coverage Outperform
(N/A)
56.01
(81.35)
45.24% Details
11/18/2021 ZTO Express ZTO Upgrade Outperform
(Neutral)
28.82
(20.15)
-30.08% Details
9/25/2021 Trip.com Group Limited TCOM Maintain Neutral
(N/A)
 
 
  Details
8/17/2021 Tencent Music Entertainment Group TME Downgrade Underperform
(Neutral)
8.92
(8.38)
-6.05% Details
7/16/2021 ZTO Express ZTO Maintain Neutral
(N/A)
 
 
  Details
6/14/2021 ZTO Express ZTO New Coverage Neutral
(N/A)
31.60
(20.15)
-36.23% Details
5/19/2021 Tencent Music Entertainment Group TME Maintain Neutral
(Neutral)
 
 
  Details