Pax Global Technology Ltd (327.HK)
​AMC Wanhai Securities initiates with Outperform on Pax Global Technology Ltd (327.HK) with a 12- month target price of HKD 7.14. The global economy is increasingly shifting to cash less economy. Customer convenience and government initiatives are fuelling the growth in mobile and electronic payment. The growth in electronic payment has led to the stupendous growth in the demand for point-ofsale (POS) systems. Pax Global Technology Ltd (PAX) is among the top three global payment terminal solution suppliers. It also occupies the top position in the Chinese market. Given its lower price point for similar products, it has been gaining market share from rivals, particularly Verifone. It also has strong presence in emerging markets like Brazil and Argentina, and is rapidly expanding its presence in the U.S.
PAX is currently trading at considerable discount to its domestic and international peers. It is currently trading at EV/ Revenue of 1.0x (2.1x for peers), EV/EBITDA of 4.4 (10.0x for peers) and P/E multiple of 8.2x (13.9x for peers). The company’s share price has corrected by more than 50% in the last year, in part due to the controversial analyst meet. However, in light of the strong fundamentals, the company looks poised to outperform the market going forward and is an attractive investment bet
PAX Global Technology Limited is a Hong Kong-based investment holding company principally engaged in the provision of e-payment terminal solutions. The main businesses of the Company include the development and sales of countertop and mobile e-payment terminals. It is also involved in the development and sales of consumer activated devices, contactless card-reading devices and e-payment terminal software. The Company mainly operates businesses in China, the United States and Italy.
AMC Wanhai Securities is an independent boutique brokerage covering Hong Kong & Asian listed equities for global institutional cilents. The company focuses on equity sales & trading, equity research, asset management and corporate finance.
AMC Wanhai Securities will give you a snapshot of stocks from across a range of sectors, with ratings and recommendations that will help you make tactical investment decisions. Additionally, we issue sector / thematic report providing deeper insights into wider trends and business drivers.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.