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Benzinga
Benzinga
World
The Bamboo Works

Huitongda Network Finds Big Bucks, But Thin Margins, in 'Sunken Market'

Key takeaways:

  • Despite counting Alibaba as its second biggest shareholder, Huitongda’s Hong Kong IPO met with a tepid reception due to concerns about its thin margins
  • Company appears overvalued compared with major competitor Pinduoduo, which spends far more on R&D
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