Sign in

    John Choi • Daiwa Capital Markets

    John Choi's questions to Trip.com Group Ltd (TCOM) leadership

    John Choi's questions to Trip.com Group Ltd (TCOM) leadership • Q1 2025

    Question

    John Choi of Daiwa noted that sales and marketing expenses were lower than expected and asked for the full-year outlook on this line item.

    Answer

    CEO Jane Sun explained the sequential decrease was due to seasonal shifts in China. She reiterated that marketing investments are ROI-focused and adjusted in real-time. While short-term fluctuations can occur due to market mix, the long-term goal is to improve efficiency through increased direct mobile traffic, enhanced cross-selling, and stronger customer loyalty.

    Ask Fintool Equity Research AI

    John Choi's questions to Sea Ltd (SE) leadership

    John Choi's questions to Sea Ltd (SE) leadership • Q1 2025

    Question

    John Choi asked about the investment requirements for driving off-Shopee growth in the Money segment and the potential impact on EBITDA margins. He also inquired about the company's AI investments, how AI is being deployed, and its current and future impact on business efficiency.

    Answer

    Executive Hou Tianyu explained that off-Shopee growth, such as cash loans, is highly profitable and does not require significant upfront investment that would negatively impact margins. The strategy relies on cross-selling to the existing user base, which minimizes marketing costs and risk. Regarding AI, he detailed its deployment in enhancing search, recommendations, and ad efficiency, as well as enabling sellers to generate content. He emphasized that all AI investments are measured for clear ROI and have yielded positive returns, with further applications being explored prudently.

    Ask Fintool Equity Research AI

    John Choi's questions to Sea Ltd (SE) leadership • Q3 2024

    Question

    John Choi asked for the percentage of orders handled by SPX Express in Asia and Brazil, the drivers for logistics cost reduction, and details on live streaming unit economics and merchant feedback on take rate increases.

    Answer

    Forrest Li, Chairman and CEO, reported that SPX handles over 50% of orders in Asia and over 70% in Brazil. He detailed that cost reductions stem from end-to-end efficiencies, including sorting automation and last-mile innovations. Regarding live streaming, he noted that unit economics have improved meaningfully and that take rate adjustments are balanced with delivering value to sellers.

    Ask Fintool Equity Research AI