×
Blog
Tencent’s restructuring introduces Platform & Content Group (PCG)
The Platform and Content group is mobile internet, online media and social network combined. Combining video, data analysis, and marketing. Impressive.
Paul Schulte
April 1, 2019
Read more
0 comments
Blog
Encroaching into a plethora of offerings, WeChat is the centre of the ecosystem war.
Tencent is smartly gluing apps onto WeChat. Zhihu does trends. Keep does fitness. Huya does live video. Pinduoduo is a smash hit.
Paul Schulte
March 27, 2019
Read more
0 comments
Blog
Third company wide restructuring by Tencent adds PCG & CSIG
Here’s the new face of Tencent. PCG is platform and content group. CSIG is SME Cloud group. Keeping up with the Joneses? Is Tencent is playing catchup with Alibaba?  Better late than never.
Paul Schulte
March 25, 2019
Read more
0 comments
Blog
Rapid adoption by SMEs and enterprises catapult Dingtalk’s growth in recent years
When I saw Alibaba’s team in Beijing a few years ago, they were just rolling out Dingtalk. It had only 2.5 million users and they were quietly hoping to use this SME app and convert it to a payroll and working capital lending vehicle. Cut to three years later and it now has 100 mn. users and 43 mn. SME users — and 7 mn. enterprise users. Unparalleled execution globally.
Paul Schulte
March 20, 2019
Read more
0 comments
Blog
Mizuho Bank to leverage on Alipay channels to expand reach of “J Coin” to more users
The Bank of Japan may be the first central bank to launch a ‘sovereign crypto coin’. Oxymoronic? You bet. What the heck. This is the trend, Friend. Alipay and Mizuho will work together to launch this in anticipation of the 2020 Olympics.
Paul Schulte
March 18, 2019
Read more
0 comments
Blog
A100’s existing corporate partners
Alibaba’s A100 is the one to watch. It is a powerful corporate platform and is branching out to major brands like Starbucks, Nestle, P&G and L’Oreal to reduce costs, expand image, improve logistics and process data.
Paul Schulte
March 15, 2019
Read more
0 comments
Blog
Alibaba’s A100 leverages on cloud computing to become the new operating system for digitisation
Alibaba’s cloud business is increasingly spreading into the Far East to 3.3 bn people. It is the foundation of new retail, SME, entertainment, payments, logistics, and social media. It has awesome first mover advantage. 
Paul Schulte
March 13, 2019
Read more
0 comments
Blog
Credit spreads are behaving wonderfully — but the rally is aging.
  The chart below shows the extent of the fall in spreads - indicating reduced stress, primarily in the $1.4 trillion CLO market - and also the standard deviation. We have now moved from a 2 standard deviation period of extreme stress to more normalised spreads. They are still elevated.
Paul Schulte
March 11, 2019
Read more
0 comments
Blog
Why was FINRA data showing false signals starting in May and why was it removed in November? To hide impending bad news?
FINRA HY minus IG spreads were quiescent for most of 2018 while other market prices were showing growing alarm, the crisis of late 2018 - early 2019 actually began in May and not October as we were led to believe, FINRA spreads heading into October were actually trending DOWN.  
Paul Schulte
March 4, 2019
Read more
0 comments
Blog
The “Trade War” has nothing to do with trade.
The US wants and needs to maintain its technological and military superiority, trade negotiations with China is only to buy time on 5G and Naval superiority. 
Paul Schulte
March 3, 2019
Read more
0 comments

About Paul Schulte

Paul Schulte has had a career in equity research which spans 22 years on both the buy and sell sides covering the Asian and emerging markets. He also has 5 years of government policy experience in emerging markets. He has been frequently ranked in top-five…read more

Paul Schulte

Philosophy

The Schulte Research Report focuses on banks, bank credit, liquidity & corporate solvency. Bank credit drives economics, not the…read more