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
By Ken Lo
Benzinga ·
Benzinga
