China’s Big Three: Where cashflow is king
Tech giants Alibaba, Tencent and Baidu operate differently to most conglomerates which is why Moody’s looks at cashflow, not profit, when it comes to rating the companies
When it comes to China’s acquisitive tech giants – Alibaba, Tencent and Baidu – assessing how they turn a profit in the disparate and far-flung markets in which they now operate is no longer a sign of their financial health.
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