AMC Wanhai Securities Ltd. - PAX Global Technology Limited (P8X) Pax Global Technology Ltd (327.HK) - Company Update Note

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AMC Wanhai Securities Ltd.

Pax Global Technology Ltd (327.HK) - Company Update Note

â€‹Demonetisation and digital push in India is a potential game changer

AMC Wanhai continues to be positive on Pax Global Technology Ltd (327.HK) with a 12-month target price of HKD 7.08. Since our last report the industry and company have been supported by strong tailwind in form of digitalisation push by India. The company has taken strategic moves to encash this potentially huge opportunity. It also continues to retain its technological edge over their local rival which makes it better positioned to weather any slowdown in Chinese market.

In our view, the market has not factored in the potential upside due to the concerted digital push in Chinaâ€™s western neighbour, consequently undervaluing the stock. We foresee substantial upside in the stock price from current levels.

03/02/2017 5 EN

Underlying

PAX Global Technology Limited

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.

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BMG6955J1036 Berlin Stock Exchange Bermuda

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AMC Wanhai Securities Ltd.

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.

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