Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Thursday, April 3rd, 2025

SEA Ltd: E-commerce Growth Driven by Shopee’s Strong Performance and Market Stability

Date: October 21, 2024
Broker Name: CGS International Securities

Company Overview

SEA Ltd (Stock Code: SIN) is a leading technology conglomerate based in Southeast Asia. The company operates in various sectors, with a strong focus on e-commerce through its platform, Shopee, and other digital services.

Positive Earnings Outlook for 3Q24

SEA Ltd is expected to report a positive set of results for the third quarter of 2024 (3Q24F). The company’s topline is likely to surpass consensus expectations, driven by significant growth in Shopee’s Gross Merchandise Volume (GMV) and an expanding take rate.

Market Dynamics and Competitive Landscape

The report highlights a rationalization of competition within the ASEAN e-commerce sector. Key points include:

  • Fee Adjustments Across Markets:
    ASEAN e-commerce players, including Shopee, have adjusted their fee structures across various markets during 3Q24. This indicates a stabilization of the competitive environment, which is seen as a positive sign for profitability.

  • Priority on Topline Growth:
    SEA Ltd continues to prioritize revenue growth for the second half of 2024 (2H24F). The rationalization of competition is expected to further boost Shopee’s margins in the fiscal year 2025 (FY25F).

Analyst Recommendation

The report maintains an “Add” recommendation for SEA Ltd, suggesting a positive outlook for the company’s stock. The target price has been raised to US$118, reflecting confidence in continued strong performance and market positioning.

HSBC Stock Analysis: Strong Revenue Growth and Strategic Realignment Boost Outlook

Comprehensive Analysis of HSBC and Its Competitors Comprehensive Analysis of HSBC and Its Competitors Broker: OCBC Investment Research Date of Report: 15 November 2024 HSBC: A Financial Powerhouse on the Path to Growth HSBC,...

Silver: The New Gold? How Safe-Haven Demand and Solar Boom Are Driving Prices Higher

For years, gold has been the go-to safe-haven asset, but another precious metal is stealing the spotlight—silver. Dubbed the “poor man’s gold”, silver has not only kept pace with gold over the past year...

High oil prices are here to stay. Who are the beneficiaries?

High oil prices are here to stay. Who are the beneficiaries?