Ratings by Daiwa Securities (John Choi)
| Date | Company | Symbol | Type | Rating (Past) |
PT (Past) |
Start $ (End $) |
% Chg. | Details |
|---|---|---|---|---|---|---|---|---|
| 6/23/2026 | JD.com, Inc | JD | Downgrade | Neutral (3) (Buy (1)) |
27.02 (26.62) |
-1.48% | Details | |
| 6/23/2026 | Pinduoduo Inc. | PDD | Downgrade | Neutral (3) (Buy (1)) |
78.11 (82.39) |
5.48% | Details | |
| 3/13/2026 | Full Truck Alliance Co. Ltd. | YMM | Downgrade | Neutral (3) (Buy (1)) |
8.98 (8.43) |
-6.12% | Details | |
| 3/11/2026 | JOYY | JOYY | Upgrade | Buy (1) (Outperform (2)) |
59.80 (67.26) |
12.47% | Details | |
| 10/14/2025 | Baidu | BIDU | Upgrade | Buy (1) (Outperform (2)) |
125.72 (113.30) |
-9.88% | Details | |
| 2/18/2025 | Baidu | BIDU | Downgrade | Outperform (2) (Buy (1)) |
97.48 (113.30) |
16.23% | Details | |
| 5/22/2024 | Vipshop Holdings | VIPS | Downgrade | Neutral (3) (Buy (1)) |
16.45 (13.26) |
-19.39% | Details | |
| 6/8/2023 | Trip.com Group Limited | TCOM | Upgrade | Buy (1) (Outperform (2)) |
34.29 (41.00) |
19.57% | Details | |
| 3/29/2023 | Vipshop Holdings | VIPS | Upgrade | Outperform (2) (Neutral (3)) |
15.23 (13.26) |
-12.93% | Details | |
| 1/20/2023 | Baozun | BZUN | Upgrade | Outperform (2) (Neutral (3)) |
7.07 (2.78) |
-60.68% | Details | |
| 12/7/2022 | JD.com, Inc | JD | Maintain | Buy (1) (N/A) |
|
Details | ||
| 9/22/2022 | Trip.com Group Limited | TCOM | Upgrade | Buy (1) (Neutral (3)) |
24.43 (41.00) |
67.83% | Details | |
| 8/24/2022 | GDS Holdings | GDS | Downgrade | Sell (5) (Outperform (2)) |
25.29 (29.82) |
17.91% | Details | |
| 8/20/2021 | Baozun | BZUN | Downgrade | Sell (5) (Buy (1)) |
21.14 (2.78) |
-86.85% | Details | |
| 5/5/2021 | Pinduoduo Inc. | PDD | New Coverage | Buy (1) (N/A) |
132.17 (82.39) |
-37.66% | Details | |
| 4/14/2021 | JD.com, Inc | JD | Maintain | Buy (1) (Buy (1)) |
|
Details | ||
| 3/25/2021 | 21Vianet | VNET | Maintain | Buy (1) (Buy (1)) |
|
Details | ||
| 3/12/2021 | GDS Holdings | GDS | Maintain | Outperform (2) (Outperform (2)) |
|
Details | ||
| 3/12/2021 | JD.com, Inc | JD | Maintain | Buy (1) (Buy (1)) |
|
Details | ||
| 2/23/2021 | GDS Holdings | GDS | Downgrade | Outperform (2) (Buy (1)) |
108.04 (29.82) |
-72.4% | Details | |
| 11/4/2020 | GDS Holdings | GDS | New Coverage | Buy (1) (N/A) |
87.47 (108.04) |
23.52% | Details | |
| 11/4/2020 | 21Vianet | VNET | New Coverage | Buy (1) (N/A) |
23.97 (7.92) |
-66.96% | Details | |
| 8/21/2020 | Vipshop Holdings | VIPS | Downgrade | Sell (5) (Buy (1)) |
19.26 (13.26) |
-31.15% | Details | |
| 8/14/2020 | NetEase.com | NTES | New Coverage | Buy (1) (N/A) |
464.87 (127.24) |
-72.63% | Details | |
| 3/10/2020 | Trip.com Group Limited | TCOM | Downgrade | Neutral (3) (Outperform (2)) |
26.90 (41.00) |
52.42% | Details | |
| 1/9/2020 | Baidu | BIDU | Upgrade | Buy (1) (Outperform (2)) |
136.70 (113.30) |
-17.12% | Details | |
| 1/9/2020 | Alibaba | BABA | New Coverage | Buy (1) (N/A) |
217.63 (96.14) |
-55.82% | Details | |
| 10/25/2019 | TAL International | TAL | Upgrade | Buy (1) (Outperform (2)) |
42.72 (9.81) |
-77.04% | Details | |
| 8/30/2019 | Baidu | BIDU | Maintain | Neutral (3) (N/A) |
|
Details | ||
| 8/16/2019 | Vipshop Holdings | VIPS | Upgrade | Buy (1) (Neutral (3)) |
7.20 (13.26) |
84.17% | Details | |
| 5/28/2019 | Vipshop Holdings | VIPS | Upgrade | Neutral (3) (Underperform (4)) |
7.65 (7.20) |
-5.88% | Details | |
| 5/17/2019 | Baidu | BIDU | Downgrade | Neutral (3) (Buy (1)) |
153.70 (136.70) |
-11.06% | Details | |
| 4/26/2019 | TAL International | TAL | Upgrade | Outperform (2) (Neutral (3)) |
36.17 (42.72) |
18.11% | Details | |
| 4/24/2019 | New Oriental Education | EDU | Maintain | Buy (1) (N/A) |
|
Details | ||
| 4/11/2019 | Baidu | BIDU | Maintain | Buy (1) (N/A) |
|
Details | ||
| 3/8/2019 | New Oriental Education | EDU | Maintain | Buy (1) (N/A) |
|
Details | ||
| 3/8/2019 | Baidu | BIDU | Maintain | Buy (1) (N/A) |
|
Details | ||
| 3/1/2019 | JD.com, Inc | JD | Maintain | Buy (1) (N/A) |
|
Details | ||
| 1/28/2019 | TAL International | TAL | Maintain | (N/A) |
|
Details | ||
| 12/19/2018 | Baidu | BIDU | Maintain | Buy (1) (N/A) |
|
Details | ||
| 11/19/2018 | Vipshop Holdings | VIPS | Maintain | Underperform (4) (N/A) |
|
Details | ||
| 8/14/2018 | Vipshop Holdings | VIPS | Downgrade | Underperform (4) (Neutral (3)) |
9.01 (7.65) |
-15.09% | Details |

