Intrinsic value of 58.com ADR - WUBA

Previous Close

$39.37

  Intrinsic Value

$70.96

stock screener

  Rating & Target

str. buy

+80%

  Value-price divergence*

-152%

Previous close

$39.37

 
Intrinsic value

$70.96

 
Up/down potential

+80%

 
Rating

str. buy

 
Value-price divergence*

-152%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of WUBA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 5.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  59.72
  20.40
  18.86
  17.47
  16.23
  15.10
  14.09
  13.18
  12.37
  11.63
  10.97
  10.37
  9.83
  9.35
  8.91
  8.52
  8.17
  7.85
  7.57
  7.31
  7.08
  6.87
  6.69
  6.52
  6.36
  6.23
  6.11
  6.00
  5.90
  5.81
  5.73
Revenue, $m
  1,142
  1,375
  1,634
  1,920
  2,231
  2,568
  2,930
  3,317
  3,727
  4,160
  4,617
  5,095
  5,596
  6,119
  6,665
  7,233
  7,824
  8,439
  9,077
  9,741
  10,431
  11,147
  11,893
  12,668
  13,474
  14,313
  15,187
  16,097
  17,046
  18,036
  19,069
Variable operating expenses, $m
 
  752
  851
  959
  1,078
  1,206
  1,343
  1,490
  1,646
  1,811
  1,985
  1,937
  2,128
  2,327
  2,534
  2,750
  2,975
  3,208
  3,451
  3,704
  3,966
  4,238
  4,522
  4,816
  5,123
  5,442
  5,774
  6,120
  6,481
  6,858
  7,250
Fixed operating expenses, $m
 
  455
  466
  478
  490
  502
  515
  528
  541
  554
  568
  583
  597
  612
  627
  643
  659
  676
  692
  710
  728
  746
  764
  783
  803
  823
  844
  865
  886
  909
  931
Total operating expenses, $m
  1,096
  1,207
  1,317
  1,437
  1,568
  1,708
  1,858
  2,018
  2,187
  2,365
  2,553
  2,520
  2,725
  2,939
  3,161
  3,393
  3,634
  3,884
  4,143
  4,414
  4,694
  4,984
  5,286
  5,599
  5,926
  6,265
  6,618
  6,985
  7,367
  7,767
  8,181
Operating income, $m
  46
  168
  317
  482
  664
  860
  1,072
  1,299
  1,540
  1,795
  2,064
  2,575
  2,871
  3,181
  3,504
  3,840
  4,190
  4,554
  4,933
  5,327
  5,737
  6,163
  6,606
  7,068
  7,548
  8,048
  8,569
  9,112
  9,679
  10,270
  10,887
EBITDA, $m
  79
  409
  561
  729
  913
  1,113
  1,328
  1,558
  1,802
  2,061
  2,334
  2,621
  2,922
  3,236
  3,563
  3,905
  4,261
  4,630
  5,015
  5,415
  5,831
  6,264
  6,713
  7,182
  7,669
  8,177
  8,706
  9,257
  9,832
  10,432
  11,059
Interest expense (income), $m
  0
  0
  6
  12
  20
  28
  36
  46
  55
  66
  77
  89
  101
  114
  127
  141
  155
  170
  186
  202
  219
  237
  255
  274
  294
  314
  336
  358
  381
  406
  431
Earnings before tax, $m
  -124
  168
  311
  470
  644
  833
  1,036
  1,253
  1,484
  1,729
  1,987
  2,487
  2,771
  3,067
  3,377
  3,699
  4,035
  4,384
  4,747
  5,125
  5,518
  5,926
  6,351
  6,794
  7,254
  7,733
  8,233
  8,754
  9,297
  9,864
  10,456
Tax expense, $m
  -8
  45
  84
  127
  174
  225
  280
  338
  401
  467
  536
  671
  748
  828
  912
  999
  1,089
  1,184
  1,282
  1,384
  1,490
  1,600
  1,715
  1,834
  1,959
  2,088
  2,223
  2,364
  2,510
  2,663
  2,823
Net income, $m
  -118
  122
  227
  343
  470
  608
  756
  915
  1,083
  1,262
  1,450
  1,815
  2,023
  2,239
  2,465
  2,700
  2,945
  3,200
  3,466
  3,741
  4,028
  4,326
  4,637
  4,959
  5,295
  5,645
  6,010
  6,390
  6,787
  7,201
  7,633

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  297
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,670
  4,056
  4,821
  5,663
  6,582
  7,576
  8,644
  9,784
  10,994
  12,272
  13,618
  15,030
  16,508
  18,052
  19,661
  21,336
  23,080
  24,892
  26,776
  28,734
  30,768
  32,883
  35,081
  37,367
  39,746
  42,221
  44,799
  47,485
  50,284
  53,204
  56,250
Adjusted assets (=assets-cash), $m
  3,373
  4,056
  4,821
  5,663
  6,582
  7,576
  8,644
  9,784
  10,994
  12,272
  13,618
  15,030
  16,508
  18,052
  19,661
  21,336
  23,080
  24,892
  26,776
  28,734
  30,768
  32,883
  35,081
  37,367
  39,746
  42,221
  44,799
  47,485
  50,284
  53,204
  56,250
Revenue / Adjusted assets
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
Average production assets, $m
  308
  371
  441
  518
  602
  693
  791
  896
  1,006
  1,123
  1,246
  1,376
  1,511
  1,652
  1,800
  1,953
  2,112
  2,278
  2,451
  2,630
  2,816
  3,010
  3,211
  3,420
  3,638
  3,865
  4,100
  4,346
  4,603
  4,870
  5,149
Working capital, $m
  -406
  -527
  -626
  -735
  -855
  -984
  -1,122
  -1,270
  -1,427
  -1,593
  -1,768
  -1,951
  -2,143
  -2,344
  -2,553
  -2,770
  -2,997
  -3,232
  -3,477
  -3,731
  -3,995
  -4,269
  -4,555
  -4,852
  -5,160
  -5,482
  -5,817
  -6,165
  -6,529
  -6,908
  -7,303
Total debt, $m
  266
  168
  357
  565
  792
  1,037
  1,301
  1,583
  1,881
  2,197
  2,530
  2,878
  3,244
  3,625
  4,022
  4,436
  4,867
  5,314
  5,780
  6,263
  6,766
  7,288
  7,831
  8,396
  8,983
  9,595
  10,231
  10,895
  11,586
  12,307
  13,060
Total liabilities, $m
  1,100
  1,002
  1,191
  1,399
  1,626
  1,871
  2,135
  2,417
  2,715
  3,031
  3,364
  3,712
  4,078
  4,459
  4,856
  5,270
  5,701
  6,148
  6,614
  7,097
  7,600
  8,122
  8,665
  9,230
  9,817
  10,429
  11,065
  11,729
  12,420
  13,141
  13,894
Total equity, $m
  2,570
  3,054
  3,630
  4,264
  4,956
  5,705
  6,509
  7,367
  8,278
  9,241
  10,254
  11,318
  12,431
  13,593
  14,805
  16,066
  17,379
  18,744
  20,163
  21,637
  23,169
  24,761
  26,416
  28,138
  29,928
  31,793
  33,734
  35,756
  37,864
  40,062
  42,356
Total liabilities and equity, $m
  3,670
  4,056
  4,821
  5,663
  6,582
  7,576
  8,644
  9,784
  10,993
  12,272
  13,618
  15,030
  16,509
  18,052
  19,661
  21,336
  23,080
  24,892
  26,777
  28,734
  30,769
  32,883
  35,081
  37,368
  39,745
  42,222
  44,799
  47,485
  50,284
  53,203
  56,250
Debt-to-equity ratio
  0.104
  0.050
  0.100
  0.130
  0.160
  0.180
  0.200
  0.210
  0.230
  0.240
  0.250
  0.250
  0.260
  0.270
  0.270
  0.280
  0.280
  0.280
  0.290
  0.290
  0.290
  0.290
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.310
  0.310
  0.310
Adjusted equity ratio
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -118
  122
  227
  343
  470
  608
  756
  915
  1,083
  1,262
  1,450
  1,815
  2,023
  2,239
  2,465
  2,700
  2,945
  3,200
  3,466
  3,741
  4,028
  4,326
  4,637
  4,959
  5,295
  5,645
  6,010
  6,390
  6,787
  7,201
  7,633
Depreciation, amort., depletion, $m
  33
  242
  244
  247
  249
  252
  256
  259
  263
  267
  271
  46
  50
  55
  60
  65
  70
  76
  82
  88
  94
  100
  107
  114
  121
  129
  137
  145
  153
  162
  172
Funds from operations, $m
  175
  364
  471
  590
  719
  860
  1,012
  1,174
  1,346
  1,529
  1,721
  1,861
  2,073
  2,294
  2,525
  2,765
  3,016
  3,276
  3,547
  3,829
  4,122
  4,427
  4,744
  5,073
  5,417
  5,774
  6,147
  6,535
  6,940
  7,363
  7,805
Change in working capital, $m
  164
  -89
  -99
  -109
  -119
  -129
  -139
  -148
  -157
  -166
  -175
  -183
  -192
  -200
  -209
  -218
  -226
  -235
  -245
  -254
  -264
  -275
  -285
  -297
  -309
  -321
  -335
  -349
  -363
  -379
  -395
Cash from operations, $m
  11
  366
  571
  699
  839
  989
  1,150
  1,322
  1,503
  1,695
  1,896
  2,045
  2,265
  2,495
  2,734
  2,983
  3,242
  3,512
  3,792
  4,083
  4,386
  4,701
  5,029
  5,370
  5,725
  6,096
  6,482
  6,884
  7,304
  7,742
  8,200
Maintenance CAPEX, $m
  0
  -10
  -12
  -15
  -17
  -20
  -23
  -26
  -30
  -34
  -37
  -42
  -46
  -50
  -55
  -60
  -65
  -70
  -76
  -82
  -88
  -94
  -100
  -107
  -114
  -121
  -129
  -137
  -145
  -153
  -162
New CAPEX, $m
  -196
  -63
  -70
  -77
  -84
  -91
  -98
  -104
  -111
  -117
  -123
  -129
  -135
  -141
  -147
  -153
  -160
  -166
  -172
  -179
  -186
  -194
  -201
  -209
  -218
  -227
  -236
  -246
  -256
  -267
  -279
Cash from investing activities, $m
  -443
  -73
  -82
  -92
  -101
  -111
  -121
  -130
  -141
  -151
  -160
  -171
  -181
  -191
  -202
  -213
  -225
  -236
  -248
  -261
  -274
  -288
  -301
  -316
  -332
  -348
  -365
  -383
  -401
  -420
  -441
Free cash flow, $m
  -432
  293
  488
  607
  737
  878
  1,030
  1,191
  1,363
  1,544
  1,735
  1,874
  2,084
  2,303
  2,532
  2,770
  3,018
  3,275
  3,544
  3,822
  4,112
  4,414
  4,727
  5,054
  5,394
  5,748
  6,117
  6,501
  6,903
  7,322
  7,759
Issuance/(repayment) of debt, $m
  402
  168
  189
  208
  227
  246
  264
  281
  299
  316
  332
  349
  365
  381
  397
  414
  431
  448
  465
  484
  503
  522
  543
  565
  587
  611
  637
  663
  691
  721
  752
Issuance/(repurchase) of shares, $m
  403
  23
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  805
  191
  189
  208
  227
  246
  264
  281
  299
  316
  332
  349
  365
  381
  397
  414
  431
  448
  465
  484
  503
  522
  543
  565
  587
  611
  637
  663
  691
  721
  752
Total cash flow (excl. dividends), $m
  372
  461
  677
  815
  964
  1,124
  1,293
  1,473
  1,662
  1,860
  2,068
  2,223
  2,449
  2,684
  2,929
  3,184
  3,448
  3,723
  4,009
  4,306
  4,615
  4,936
  5,270
  5,619
  5,981
  6,359
  6,754
  7,165
  7,594
  8,043
  8,512
Retained Cash Flow (-), $m
  245
  -515
  -576
  -634
  -692
  -749
  -804
  -858
  -911
  -963
  -1,013
  -1,063
  -1,113
  -1,162
  -1,212
  -1,262
  -1,313
  -1,365
  -1,419
  -1,474
  -1,532
  -1,592
  -1,655
  -1,721
  -1,791
  -1,864
  -1,941
  -2,022
  -2,108
  -2,198
  -2,294
Prev. year cash balance distribution, $m
 
  31
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  0
  101
  181
  272
  375
  489
  614
  751
  897
  1,054
  1,159
  1,336
  1,522
  1,717
  1,922
  2,135
  2,358
  2,590
  2,832
  3,083
  3,344
  3,615
  3,897
  4,190
  4,495
  4,812
  5,143
  5,486
  5,845
  6,218
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  0
  93
  157
  224
  291
  355
  415
  469
  515
  553
  551
  570
  579
  577
  564
  543
  513
  477
  436
  392
  346
  300
  255
  213
  175
  140
  110
  85
  64
  47
Current shareholders' claim on cash, %
  100
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6

58.com Inc. operates an online marketplace for local merchants and consumers in the People’s Republic of China. Its online marketplace enables local merchants and consumers to connect, share information, and conduct business. The company’s online marketplace contains local information in approximately 485 cities in various content categories, including jobs, real estate, used goods, automotive, and yellow pages. It offers membership services, such as merchant certification and listing benefits, as well as display of online storefronts; and online marketing services comprising listing services, such as real-time bidding and priority listing, and marketing services through collaboration with third party Internet companies. 58.com Inc. was founded in 2005 and is headquartered in Beijing, the People’s Republic of China.

FINANCIAL RATIOS  of  58.com ADR (WUBA)

Valuation Ratios
P/E Ratio -96.6
Price to Sales 10
Price to Book 4.4
Price to Tangible Book
Price to Cash Flow 1036.8
Price to Free Cash Flow -61.6
Growth Rates
Sales Growth Rate 59.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 512.5%
Cap. Spend. - 3 Yr. Gr. Rate 108.3%
Financial Strength
Quick Ratio 1
Current Ratio 0.2
LT Debt to Equity 0%
Total Debt to Equity 10.4%
Interest Coverage 0
Management Effectiveness
Return On Assets -3.1%
Ret/ On Assets - 3 Yr. Avg. -3%
Return On Total Capital -4%
Ret/ On T. Cap. - 3 Yr. Avg. -3.9%
Return On Equity -4.4%
Return On Equity - 3 Yr. Avg. -4.4%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 90.7%
Gross Margin - 3 Yr. Avg. 92.8%
EBITDA Margin -8%
EBITDA Margin - 3 Yr. Avg. -10.7%
Operating Margin 4%
Oper. Margin - 3 Yr. Avg. -4%
Pre-Tax Margin -10.9%
Pre-Tax Margin - 3 Yr. Avg. -12.6%
Net Profit Margin -10.3%
Net Profit Margin - 3 Yr. Avg. -12.3%
Effective Tax Rate 6.5%
Eff/ Tax Rate - 3 Yr. Avg. 10%
Payout Ratio 0%

WUBA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the WUBA stock intrinsic value calculation we used $1142 million for the last fiscal year's total revenue generated by 58.com ADR. The default revenue input number comes from 2016 income statement of 58.com ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our WUBA stock valuation model: a) initial revenue growth rate of 20.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for WUBA is calculated based on our internal credit rating of 58.com ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of 58.com ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of WUBA stock the variable cost ratio is equal to 58.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $444 million in the base year in the intrinsic value calculation for WUBA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for 58.com ADR.

Corporate tax rate of 27% is the nominal tax rate for 58.com ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the WUBA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for WUBA are equal to 27%.

Life of production assets of 81.4 years is the average useful life of capital assets used in 58.com ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for WUBA is equal to -38.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2570 million for 58.com ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 141.848 million for 58.com ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of 58.com ADR at the current share price and the inputted number of shares is $5.6 billion.

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COMPANY NEWS

▶ ETFs with exposure to 58.com Inc. : April 24, 2017   [Apr-24-17 02:49PM  Capital Cube]
▶ ETFs with exposure to 58.com Inc. : April 5, 2017   [Apr-05-17 05:45PM  Capital Cube]
▶ [$$] 58.com: Chinese Internet Stock Is Way Too Pricey   [Mar-01-17 10:19PM  Barrons.com]
▶ Why 58.com Inc. (ADR) Shares Popped Today   [Feb-28-17 03:45PM  Motley Fool]
▶ ETFs with exposure to 58.com Inc. : January 11, 2017   [Jan-11-17 01:34PM  Capital Cube]
▶ 3 Stocks That Were Cut in Half in 2016   [Dec-16-16 08:35PM  at Motley Fool]
▶ China's Property Market Is Freezing Up: Sell This Stock Now   [Dec-14-16 09:13PM  at Barrons.com]
▶ Near a 3-Year Low, Is 58.com Inc. (ADR) a Buy?   [Dec-09-16 10:19AM  at Motley Fool]
▶ Do Hedge Funds Love Westlake Chemical Corporation (WLK)?   [Dec-07-16 10:54AM  at Insider Monkey]
▶ Hedge Funds Are Betting On Plains GP Holdings LP (PAGP)   [Nov-29-16 09:33AM  at Insider Monkey]
▶ 58.com Announces Management Change   [06:53AM  PR Newswire]
▶ 58.com (WUBA) Stock Coverage Initiated at Deutsche Bank   [Oct-05-16 08:46AM  at TheStreet]
▶ Guazi Completes Another Round of Financing   [Sep-28-16 07:30AM  PR Newswire]
▶ Are Hedge Funds Losing Interest in China?   [Sep-16-16 01:17PM  at Insider Monkey]
▶ [$$] VC Profile: DCM Finds Exits With East Asia-U.S. Strategy   [Sep-06-16 09:05AM  at The Wall Street Journal]
▶ SINA, 58.com Among Billionaire Lei Zhangs Big Purchases in Q2   [Aug-28-16 10:52PM  at Insider Monkey]
▶ Can 58.com Bounce Back After Last Week's 10% Drop?   [Aug-22-16 09:08AM  at Motley Fool]
▶ Why 58.com Inc. (ADR) Stock Plunged Today   [12:15PM  at Motley Fool]
▶ Kylin Managements Top Q2 Stock Picks Dominated by China   [Jul-09-16 05:48PM  at Insider Monkey]
▶ Why These Five Stocks Are in Spotlight Today   [10:20AM  at Insider Monkey]
▶ Why 58.com Inc (ADR) (WUBA)s Stock Is Trending on Wednesday?   [May-25-16 02:19PM  at Insider Monkey]
▶ Chinas GDP Grew in 1Q16: How Were Mutual Funds Affected?   [Apr-18-16 02:55PM  Market Realist]
▶ Weakening China Drags Down Billionaire Lei Zhang in Q1   [Apr-13-16 11:45AM  at Insider Monkey]
▶ 58.com Announces Appointment of Chief Technology Officer   [Mar-31-16 07:00AM  PR Newswire]
▶ Guazi Closes New US$204.5 million Round of Financing   [Mar-29-16 08:17AM  at noodls]
▶ SSE Composite Index Was Flat as NPCs Annual Meeting Ended   [Mar-18-16 05:58PM  Market Realist]
Stock chart of WUBA Financial statements of WUBA
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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