Intrinsic value of 58.com ADR - WUBA

Previous Close

$80.13

  Intrinsic Value

$116.23

stock screener

  Rating & Target

buy

+45%

Previous close

$80.13

 
Intrinsic value

$116.23

 
Up/down potential

+45%

 
Rating

buy

*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

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

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, %
  69.44
  33.10
  30.29
  27.76
  25.48
  23.44
  21.59
  19.93
  18.44
  17.10
  15.89
  14.80
  13.82
  12.94
  12.14
  11.43
  10.79
  10.21
  9.69
  9.22
  8.80
  8.42
  8.07
  7.77
  7.49
  7.24
  7.02
  6.82
  6.63
  6.47
  6.32
Revenue, $m
  1,098
  1,461
  1,904
  2,433
  3,053
  3,768
  4,582
  5,495
  6,508
  7,621
  8,832
  10,139
  11,540
  13,032
  14,615
  16,285
  18,042
  19,883
  21,809
  23,819
  25,914
  28,095
  30,364
  32,723
  35,174
  37,721
  40,368
  43,119
  45,979
  48,955
  52,050
Variable operating expenses, $m
 
  856
  1,046
  1,272
  1,538
  1,845
  2,193
  2,584
  3,019
  3,495
  4,014
  4,344
  4,944
  5,584
  6,262
  6,977
  7,730
  8,519
  9,344
  10,205
  11,103
  12,037
  13,009
  14,020
  15,070
  16,161
  17,295
  18,474
  19,699
  20,974
  22,300
Fixed operating expenses, $m
 
  371
  380
  390
  400
  410
  420
  430
  441
  452
  463
  475
  487
  499
  511
  524
  537
  551
  565
  579
  593
  608
  623
  639
  655
  671
  688
  705
  723
  741
  759
Total operating expenses, $m
  1,053
  1,227
  1,426
  1,662
  1,938
  2,255
  2,613
  3,014
  3,460
  3,947
  4,477
  4,819
  5,431
  6,083
  6,773
  7,501
  8,267
  9,070
  9,909
  10,784
  11,696
  12,645
  13,632
  14,659
  15,725
  16,832
  17,983
  19,179
  20,422
  21,715
  23,059
Operating income, $m
  45
  234
  478
  771
  1,115
  1,514
  1,969
  2,480
  3,049
  3,674
  4,354
  5,320
  6,109
  6,950
  7,842
  8,784
  9,775
  10,814
  11,901
  13,036
  14,219
  15,450
  16,732
  18,064
  19,449
  20,889
  22,385
  23,940
  25,557
  27,240
  28,991
EBITDA, $m
  104
  482
  731
  1,030
  1,383
  1,790
  2,255
  2,778
  3,358
  3,997
  4,693
  5,444
  6,250
  7,109
  8,021
  8,983
  9,995
  11,057
  12,167
  13,327
  14,536
  15,794
  17,103
  18,465
  19,879
  21,350
  22,879
  24,468
  26,120
  27,839
  29,627
Interest expense (income), $m
  0
  1
  11
  22
  36
  53
  72
  94
  118
  145
  175
  208
  242
  280
  320
  362
  407
  454
  503
  554
  608
  664
  723
  783
  846
  912
  980
  1,051
  1,124
  1,201
  1,280
Earnings before tax, $m
  -119
  233
  467
  748
  1,079
  1,461
  1,897
  2,386
  2,930
  3,528
  4,179
  5,112
  5,866
  6,670
  7,522
  8,422
  9,368
  10,360
  11,398
  12,481
  13,610
  14,786
  16,009
  17,281
  18,603
  19,977
  21,405
  22,890
  24,433
  26,039
  27,711
Tax expense, $m
  -7
  63
  126
  202
  291
  394
  512
  644
  791
  953
  1,128
  1,380
  1,584
  1,801
  2,031
  2,274
  2,529
  2,797
  3,077
  3,370
  3,675
  3,992
  4,323
  4,666
  5,023
  5,394
  5,779
  6,180
  6,597
  7,031
  7,482
Net income, $m
  -113
  170
  341
  546
  787
  1,067
  1,385
  1,742
  2,139
  2,576
  3,051
  3,732
  4,282
  4,869
  5,491
  6,148
  6,838
  7,563
  8,320
  9,111
  9,936
  10,794
  11,687
  12,615
  13,580
  14,583
  15,626
  16,709
  17,836
  19,009
  20,229

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  298
  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
  3,664
  4,483
  5,841
  7,462
  9,364
  11,559
  14,054
  16,856
  19,964
  23,377
  27,091
  31,100
  35,398
  39,977
  44,831
  49,955
  55,342
  60,991
  66,899
  73,065
  79,492
  86,183
  93,141
  100,376
  107,895
  115,708
  123,827
  132,267
  141,041
  150,168
  159,664
Adjusted assets (=assets-cash), $m
  3,366
  4,483
  5,841
  7,462
  9,364
  11,559
  14,054
  16,856
  19,964
  23,377
  27,091
  31,100
  35,398
  39,977
  44,831
  49,955
  55,342
  60,991
  66,899
  73,065
  79,492
  86,183
  93,141
  100,376
  107,895
  115,708
  123,827
  132,267
  141,041
  150,168
  159,664
Revenue / Adjusted assets
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
Average production assets, $m
  404
  536
  699
  893
  1,120
  1,383
  1,682
  2,017
  2,389
  2,797
  3,241
  3,721
  4,235
  4,783
  5,364
  5,977
  6,621
  7,297
  8,004
  8,742
  9,511
  10,311
  11,144
  12,009
  12,909
  13,844
  14,815
  15,825
  16,874
  17,966
  19,102
Working capital, $m
  -407
  -583
  -760
  -971
  -1,218
  -1,503
  -1,828
  -2,193
  -2,597
  -3,041
  -3,524
  -4,045
  -4,604
  -5,200
  -5,831
  -6,498
  -7,199
  -7,933
  -8,702
  -9,504
  -10,340
  -11,210
  -12,115
  -13,056
  -14,034
  -15,051
  -16,107
  -17,204
  -18,346
  -19,533
  -20,768
Total debt, $m
  288
  300
  638
  1,042
  1,516
  2,062
  2,684
  3,381
  4,155
  5,005
  5,930
  6,928
  7,998
  9,138
  10,347
  11,623
  12,964
  14,371
  15,842
  17,377
  18,978
  20,643
  22,376
  24,178
  26,050
  27,995
  30,017
  32,118
  34,303
  36,576
  38,940
Total liabilities, $m
  1,104
  1,116
  1,454
  1,858
  2,332
  2,878
  3,500
  4,197
  4,971
  5,821
  6,746
  7,744
  8,814
  9,954
  11,163
  12,439
  13,780
  15,187
  16,658
  18,193
  19,794
  21,459
  23,192
  24,994
  26,866
  28,811
  30,833
  32,934
  35,119
  37,392
  39,756
Total equity, $m
  2,560
  3,367
  4,386
  5,604
  7,032
  8,681
  10,555
  12,659
  14,993
  17,556
  20,346
  23,356
  26,584
  30,023
  33,668
  37,516
  41,562
  45,804
  50,241
  54,872
  59,699
  64,723
  69,949
  75,382
  81,029
  86,896
  92,994
  99,332
  105,922
  112,776
  119,907
Total liabilities and equity, $m
  3,664
  4,483
  5,840
  7,462
  9,364
  11,559
  14,055
  16,856
  19,964
  23,377
  27,092
  31,100
  35,398
  39,977
  44,831
  49,955
  55,342
  60,991
  66,899
  73,065
  79,493
  86,182
  93,141
  100,376
  107,895
  115,707
  123,827
  132,266
  141,041
  150,168
  159,663
Debt-to-equity ratio
  0.113
  0.090
  0.150
  0.190
  0.220
  0.240
  0.250
  0.270
  0.280
  0.290
  0.290
  0.300
  0.300
  0.300
  0.310
  0.310
  0.310
  0.310
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
Adjusted equity ratio
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -113
  170
  341
  546
  787
  1,067
  1,385
  1,742
  2,139
  2,576
  3,051
  3,732
  4,282
  4,869
  5,491
  6,148
  6,838
  7,563
  8,320
  9,111
  9,936
  10,794
  11,687
  12,615
  13,580
  14,583
  15,626
  16,709
  17,836
  19,009
  20,229
Depreciation, amort., depletion, $m
  59
  248
  253
  260
  267
  276
  286
  297
  310
  323
  338
  124
  141
  159
  179
  199
  221
  243
  267
  291
  317
  344
  371
  400
  430
  461
  494
  527
  562
  599
  637
Funds from operations, $m
  404
  418
  595
  806
  1,055
  1,343
  1,671
  2,039
  2,449
  2,899
  3,389
  3,856
  4,424
  5,028
  5,670
  6,347
  7,059
  7,806
  8,587
  9,403
  10,253
  11,138
  12,058
  13,015
  14,010
  15,045
  16,119
  17,237
  18,399
  19,608
  20,865
Change in working capital, $m
  131
  -145
  -177
  -211
  -247
  -285
  -325
  -364
  -404
  -444
  -483
  -521
  -559
  -596
  -631
  -666
  -701
  -735
  -768
  -802
  -836
  -870
  -905
  -941
  -978
  -1,016
  -1,056
  -1,098
  -1,141
  -1,187
  -1,235
Cash from operations, $m
  273
  563
  771
  1,017
  1,302
  1,628
  1,995
  2,404
  2,853
  3,343
  3,872
  4,378
  4,983
  5,624
  6,301
  7,013
  7,760
  8,541
  9,356
  10,205
  11,089
  12,008
  12,963
  13,956
  14,988
  16,061
  17,176
  18,335
  19,540
  20,795
  22,101
Maintenance CAPEX, $m
  0
  -13
  -18
  -23
  -30
  -37
  -46
  -56
  -67
  -80
  -93
  -108
  -124
  -141
  -159
  -179
  -199
  -221
  -243
  -267
  -291
  -317
  -344
  -371
  -400
  -430
  -461
  -494
  -527
  -562
  -599
New CAPEX, $m
  -31
  -133
  -162
  -194
  -228
  -263
  -299
  -335
  -372
  -408
  -444
  -480
  -514
  -548
  -581
  -613
  -645
  -676
  -707
  -738
  -769
  -800
  -833
  -866
  -900
  -935
  -971
  -1,010
  -1,050
  -1,092
  -1,136
Cash from investing activities, $m
  -571
  -146
  -180
  -217
  -258
  -300
  -345
  -391
  -439
  -488
  -537
  -588
  -638
  -689
  -740
  -792
  -844
  -897
  -950
  -1,005
  -1,060
  -1,117
  -1,177
  -1,237
  -1,300
  -1,365
  -1,432
  -1,504
  -1,577
  -1,654
  -1,735
Free cash flow, $m
  -298
  417
  591
  800
  1,045
  1,328
  1,651
  2,013
  2,414
  2,855
  3,334
  3,790
  4,344
  4,935
  5,561
  6,222
  6,916
  7,644
  8,405
  9,200
  10,028
  10,890
  11,787
  12,719
  13,689
  14,696
  15,743
  16,831
  17,963
  19,140
  20,366
Issuance/(repayment) of debt, $m
  1
  279
  338
  404
  474
  546
  621
  698
  774
  850
  925
  998
  1,070
  1,140
  1,209
  1,276
  1,342
  1,407
  1,471
  1,535
  1,600
  1,666
  1,733
  1,801
  1,872
  1,945
  2,022
  2,101
  2,185
  2,272
  2,364
Issuance/(repurchase) of shares, $m
  3
  667
  679
  672
  641
  582
  490
  362
  195
  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  
  8
  946
  1,017
  1,076
  1,115
  1,128
  1,111
  1,060
  969
  850
  925
  998
  1,070
  1,140
  1,209
  1,276
  1,342
  1,407
  1,471
  1,535
  1,600
  1,666
  1,733
  1,801
  1,872
  1,945
  2,022
  2,101
  2,185
  2,272
  2,364
Total cash flow (excl. dividends), $m
  -280
  1,364
  1,608
  1,875
  2,159
  2,456
  2,762
  3,072
  3,383
  3,705
  4,259
  4,788
  5,414
  6,075
  6,770
  7,497
  8,258
  9,051
  9,877
  10,736
  11,628
  12,556
  13,520
  14,521
  15,561
  16,641
  17,764
  18,932
  20,148
  21,413
  22,730
Retained Cash Flow (-), $m
  80
  -838
  -1,020
  -1,218
  -1,428
  -1,648
  -1,874
  -2,104
  -2,334
  -2,563
  -2,789
  -3,011
  -3,227
  -3,439
  -3,646
  -3,848
  -4,046
  -4,242
  -4,437
  -4,631
  -4,826
  -5,024
  -5,226
  -5,433
  -5,647
  -5,868
  -6,098
  -6,338
  -6,590
  -6,854
  -7,131
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
 
  557
  588
  657
  731
  808
  888
  968
  1,049
  1,142
  1,470
  1,777
  2,187
  2,636
  3,124
  3,650
  4,211
  4,808
  5,440
  6,105
  6,802
  7,532
  8,294
  9,088
  9,914
  10,774
  11,667
  12,594
  13,558
  14,559
  15,599
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
 
  534
  538
  572
  602
  626
  644
  654
  656
  656
  771
  844
  933
  1,002
  1,049
  1,071
  1,070
  1,046
  1,002
  940
  864
  779
  688
  596
  505
  419
  340
  270
  210
  159
  117
Current shareholders' claim on cash, %
  100
  94.5
  90.5
  87.6
  85.4
  83.9
  82.9
  82.3
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0

58.com Inc. is a holding company. The Company's business consists of its online classifieds and listing platforms. Its online classifieds and listings platforms enable local merchants and consumers to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke. 58 and Ganji are online multi-content category-classified advertising platforms, while Anjuke is an online real estate listing platform. In addition, 58 Daojia Inc., its subsidiary, operates a mobile-based closed-loop transactional platform for home services, which directly connects consumers and individual service providers for local services, such as home cleaning, moving services and manicure services provided at home. Its classifieds and listing platforms contain local information for over 480 cities across various content categories, including jobs, real estate, used goods, automotive and yellow pages. It also offers membership, online marketing services and e-commerce services.

FINANCIAL RATIOS  of  58.com ADR (WUBA)

Valuation Ratios
P/E Ratio -205.4
Price to Sales 21.1
Price to Book 9.1
Price to Tangible Book
Price to Cash Flow 85
Price to Free Cash Flow 95.9
Growth Rates
Sales Growth Rate 69.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -83%
Cap. Spend. - 3 Yr. Gr. Rate 50.6%
Financial Strength
Quick Ratio 1
Current Ratio 0.2
LT Debt to Equity 0.8%
Total Debt to Equity 11.3%
Interest Coverage 0
Management Effectiveness
Return On Assets -3%
Ret/ On Assets - 3 Yr. Avg. -2.9%
Return On Total Capital -3.9%
Ret/ On T. Cap. - 3 Yr. Avg. -3.7%
Return On Equity -4.3%
Return On Equity - 3 Yr. Avg. -4.2%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 90.7%
Gross Margin - 3 Yr. Avg. 92.8%
EBITDA Margin -5.5%
EBITDA Margin - 3 Yr. Avg. -8.6%
Operating Margin 4.1%
Oper. Margin - 3 Yr. Avg. -3.9%
Pre-Tax Margin -10.8%
Pre-Tax Margin - 3 Yr. Avg. -12.6%
Net Profit Margin -10.3%
Net Profit Margin - 3 Yr. Avg. -12.3%
Effective Tax Rate 5.9%
Eff/ Tax Rate - 3 Yr. Avg. 10.1%
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 $1098 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 33.1% 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 63.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $362 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 36.7%.

Life of production assets of 45.9 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 -39.9%. 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 - $2560 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 145.592 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 $11.7 billion.

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COMPANY NEWS

▶ Cheetah Mobile Off To Fast Start After Adding 58.com Founder To Board   [Jan-11-18 04:07PM  Investor's Business Daily]
▶ As Alibaba Sets Up, The Craigslist Of China Posts 2,550% Growth   [Jan-08-18 03:49PM  Investor's Business Daily]
▶ Should You Buy 58com Inc (NYSE:WUBA) At $71.86?   [Dec-28-17 07:15AM  Simply Wall St.]
▶ 58.com Joins Rank Of Stocks With 95-Plus Composite Rating   [Dec-27-17 03:00AM  Investor's Business Daily]
▶ 58.com Showed How A Damaged Stock Can Fix Itself And Be A Winner   [Nov-30-17 07:28PM  Investor's Business Daily]
▶ 58.com Shares Jump As Third-Quarter Results Top Estimates   [Nov-13-17 04:05PM  Investor's Business Daily]
▶ ETFs with exposure to 58.com Inc. : November 9, 2017   [Nov-09-17 01:23PM  Capital Cube]
▶ 58.com Sees Composite Rating Improve To 96   [Nov-01-17 03:00AM  Investor's Business Daily]
▶ Criteo (CRTO) Catches Eye: Stock Jumps 6.5%   [Sep-22-17 08:36AM  Zacks]
▶ [$$] Asian logistics companies GoGoVan and 58 Suyun to merge   [Aug-29-17 06:05PM  Financial Times]
▶ ETFs with exposure to 58.com Inc. : August 28, 2017   [Aug-28-17 07:23PM  Capital Cube]
▶ ETF Topper: U.S.-Listed China Tech Stocks Take the Cake   [Aug-21-17 05:35PM  Barrons.com]
▶ Chinese Stock Is Gaining Ground   [12:52PM  GuruFocus.com]
▶ Why Shares of 58.com Are Soaring Today   [12:34PM  Motley Fool]
▶ As Alibaba Climbs, This Other Chinese Stock Tests New Buy Zone   [Jul-11-17 04:09PM  Investor's Business Daily]
▶ Can These Momentum Stocks Break Out One More Time?   [Jul-05-17 01:00PM  Investopedia]
▶ After Alibaba, Weibo Moves, This Chinese Stock May Be Setting Up   [Jun-30-17 03:06PM  Investor's Business Daily]
▶ ETFs with exposure to 58.com Inc. : June 27, 2017   [Jun-27-17 04:00PM  Capital Cube]
▶ Guazi Announces Series B Financing   [Jun-16-17 02:00AM  PR Newswire]
▶ IPO Stock News And Analysis: Find Today's Top New Issues   [May-26-17 04:31PM  Investor's Business Daily]
▶ Which Stocks Are Showing Rising Relative Strength?   [04:09PM  Investor's Business Daily]
▶ As Alibaba, JD And Weibo Lead, 2013 IPO 58.com Rebounds   [04:07PM  Investor's Business Daily]
▶ ETFs with exposure to 58.com Inc. : May 19, 2017   [May-19-17 02:16PM  Capital Cube]
▶ New Strong Buy Stocks for May 2nd   [May-02-17 10:52AM  Zacks]
▶ ETFs with exposure to 58.com Inc. : April 24, 2017   [Apr-24-17 02:49PM  Capital Cube]
▶ ETFs with exposure to 58.com Inc. : April 5, 2017   [Apr-05-17 05:45PM  Capital Cube]
▶ [$$] 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]
Financial statements of WUBA
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