China Youzan downgraded to Underperform from Outperform at Credit Suisse

Credit Suisse analyst Clive Cheung double downgraded China Youzan to Underperform from Outperform with a price target of HK$0.24, up from HK$0.16. The analyst sees limited immediate improvement in fundamentals and downgraded the e-commerce software-as-a-service sector to Underweight on "an unsustainable valuation amid prevalent short-term risks."