JD.com (JD) 2022 SOTP Model and Risk Framework in Excel (Instruction

Full JD.com valuation model includes historical financials, projections, multiples valuation, and sum-of-the-parts (SOTP) analysis. The analysis also includes risk adjusted prices accounting for geopolitical risk, delisting risk (ADR to HK), and Chinese recession risk that individuals can toggle on and off.
 
E-mail for memo that is attached to model.
 
Free to Silver and Gold subscribers (see Plans & Pricing): https://www.specialsitsresearch.com/plans-pricing