Thomas Chong

+852 3743 8016

Thomas Chong joined Jefferies in July 2019, following over 10 years of equity research experience covering the internet sector at Credit Suisse, Citigroup and Bank of China International.

What I am Known For

  • Thomas Chong is the Regional Head of Internet & Media at Jefferies. He leads a team covering more than 80 companies.
  • Comprehensive sector knowledge across China online shopping, online entertainment and online advertising.
  • Regional focus on China, Southeast Asia and other developing countries’ digital economies.
  • Strong connections with corporates and industry experts.
  • Thomas has >10 years of equity research experience covering the internet sector at Credit Suisse, Citigroup and Bank of China International.
  • Thomas was ranked No.1 internet analyst in the Institutional Investor (II) China Survey 2021, II Asia in 2020, 2019, as well as No.1 internet analyst in both II Asia and II China in 2018.

How I am Different

  • We believe BABA has laid out a clear roadmap with solid execution. For TTG, we expect the gap in YoY growth in GMV and CMR to narrow down in Sep quarter. Potential in incremental young users and those in lower tier cities from synergies with Weixin Payment are to be unlocked. Efficiency improvement in AIDC is expected, along with cloud benefits from solid AI demand. We expect investment in 88VIP for TTG and fundamentals to improve for AIDC and All others
  • We believe high quality growth story is intact while factoring in the latest trends across segments. For VAS, we expect YoY re-acceleration in gaming revenue while factoring in the latest trends on social networking. For online advertising, growth continues to benefit from ad tech and video accounts while factoring in base effect on ecommerce ad, trends in mobile networks and brand ad. For FBS, slower growth is expected due to macro environment

Upcoming Corporate & Strategic Access

  • Expert Events: Jef U China Expert Day: Internet (4 Nov 2024)
  • Expert Events: Jef U China Internet Expert Calls (12 – 13 Nov 2024)
  • Conferences: Jefferies Asia Internet Week (29 Aug – 4 Sep 2024)