Report
Dave Nicoski ...
  • Ross LaDuke
EUR 221.43 For Business Accounts Only

Int'l Insights: EM Strategy

Broadly speaking, RS for MSCI EM is currently exhibiting some mild deterioration vs. MSCI EAFE following four months of clear outperformance. Nonetheless, the MSCI EM index is bottoming and remains attractive from a price perspective. We believe this recent RS weakness could very well be part of a longer-term RS bottoming process - especially if the U.S. dollar (DXY) is unable to break above 98. Below we highlight attractive and actionable themes within EM:

• EM Countries: China has assumed a leadership role as trade tensions with the U.S. have eased. At the same time, many Chinese stocks could be categorized as “easy to own but tough to buy” as China's recent surge has left many stocks up over 30% YTD -- be selective with new buys. Outside of China, many EM countries have been underperforming. Additional countries highlighted in this report include Brazil, India, and Taiwan... see page 2.

• Cyclical EM Sectors outperforming as defensives lag: MSCI EM Consumer Discretionary and Technology exhibit bullish price and RS reversals -- add selective exposure. On the other hand, MSCI EM Consumer Staples and Utilities display short-term RS deterioration -- select interest only... see page 3.

Outside of the above themes, a bottoms-up approach is required to uncover attractive and actionable stocks. On page 4 we include a table of all stocks highlighted in this report, sorted first by sector and then by country... see page 4.
Underlyings
AcBel Polytech Inc.

AcBel Polytech is principally engaged in the research and development, manufacture and sale of power supplies. Through its subsidiaries, Co. is also engaged in the manufacture and sale of computer hardware; marketing and services for electronic products; maintenance, consultation and research on power supplies; purchase and sale of electronic components; and manufacture and sale of metal parts and warranty service. Co.'s major products include server, storage, open frame, telecom and personal computer power supplies, adapter, smart meter, power line communication, LED lighting, smart LED street light control system, AC/DC and DC/DC adapters, converter, rectifier and power system.

Axis Bank

Axis Bank is a consumer and corporate bank engaged in operations in India. Co. maintains activities in both retail and corporate banking. Co. is also active as a mutual fund in the Indian capital market. Co., through its servicing and distribution network provides a complete range of services to its investors. As of March 31, 2011, Co. operated 1,390 branches and extension counters, as well as a network of approximately 6,270 ATMs. Co. also has branches in Singapore, Hong Kong, Shanghai, the UAE, and Sri Lanka. Co. provides services in consumer and corporate banking, NRIs, Retail loans, treasury services, Capital market services and Financial Advisory services.

Banco de Chile

Banco de Chile is engaged in commercial banking and financial services, including time deposits, savings and checking accounts, credit operations, lines of credit for consumers, export financing, insurance brokerage, consulting services on mutual funds and stocks, asset management, installment credit with variable annual interest rates, real estate tax payments, automatic account payment, payroll and pension payments, collections, on-line funds transfers, credit card service, utility bill payments, automatic renewal deposits and automated teller machines. As of Dec 31 2016, Co. had a nationwide distribution network of 423 branches, and 1,453 Automatic Teller Machines throughout Chile.

Barito Pacific

PT Barito Pacific Tbk is an Indonesia-based company primarily engaged in petrochemicals industry. The Company's business activities are grouped into four segments namely petrochemical, wood manufacturing, property, and plantations. Through its subsidiaries, the Company produces petroleum, ethylene, propylene, Crude C4 and Pyrolysis Gasoline (Py-gas), engages in logging and timber operations, manufactures wood products as well as develops and manages high-rise buildings.

Central China Land Media (A)

Jiaozho Xin'an Science & Technology is engaged in the manufacture of chemicals such as sodium carbonate, both high-grade and heavy-weighted sodium carbonate, light-weighted calcium carbonate, oxidized calcium, and chemistry re-agent. Co. is also engaged in the installation of chemistry re-agent, manufacture and sale of medicine and supply coal gases.

Changjiang Publishing and Media (A)

Changjiang Publishing & Media is engaged in the manufacture, processing and sale of textile products, apparel and household textile products and its raw and auxiliary materials; management and undertaking of approved commodities; import and export operation; development and management of real estate; and undertakings of Chinese-foreign joint venture management and cooperative production. Co.'s products include cotton yarn, wool yarn, cotton, thread, grey cloth, printing cloth, wool fabric, casual attire, sweaters, trousers, professional attire and bedding.

China Aircraft Leasing Group Holdings (Red Chip)

China Aircraft Leasing Group Holdings is an investment holding company. Through its subsidiaries, Co. is engaged in the aircraft leasing business. Co. provides customers with aircraft full life-cycle solutions, covering aircraft leasing, fleet planning consultation, structured financing, sale and leaseback, fleet replacement package deals, third party aircraft resale as well as aircraft recycling services. Co has operations mainly in Mainland China and other countries or regions in Europe and Asia.

China Bills Finance Corp.

CHINA BILLS FINANCE CORPORATION is a Taiwan-based company principally engaged in financial businesses. The Company operates through four segments. The Bill segment is engaged in the issuing, initial purchasing, brokerage and proprietary trading of short-term bills. The Bonds segment is engaged in the trading of government bonds, corporate bonds, financial bonds and foreign bonds. The Equity Investment segment is engaged in the investment in securities and funds. The Trust Services segment is engaged in the provision of trust services. The Company operates businesses in the domestic market.

China Design Group (A)

Zhongshe Design Group Co., Ltd., formerly Jiangsu Province Communications Planning And Design Institute Limited Company, is mainly engaged in the survey design, planning studies, test, project management and other engineering consulting services. Its core business is the transportation construction engineering survey and design business. The Company operates its businesses primary in domestic market.

China Railway Hi-tech Industry (A)

China Railway Erju is principally engaged in construction engineering and property development. Co.'s activities include undertakings of various industrial, energy, transportation and civil engineering projects; development and consultation of engineering technology; leasing of engineering machinery; production of simple supported railway bridges; the provision of warehousing business; and real estate integration development. Through its subsidiaries, Co. is also engaged in infrastructure project contracting, sale of ready mixed concrete; property management and hotel operation.

China Telecom Corp. Ltd.

China Telecom is a full services integrated information service operator and wireline telecommunications and broadband services provider in the People's Republic of China. Co. offers wireline and mobile telecommunications services including wireline voice, mobile voice, internet, managed data and leased line, value-added telecommunications services, integrated information application services and other related services. As of Dec 31 2010, Co. had wireline access lines in service of approximately 175 million, wireline broadband subscribers of approximately 63 million and mobile subscribers of approximately 90 million.

China XD Electric (A)

CHINA XD ELECTRIC CO., LTD. is a China-based company principally engaged in the design, research, development, manufacture and distribution of power transmission, distribution and control equipments. The Company's primary products include switches, transformers, electric reactors, insulators, lightening conductors, capacitors, as well as electrical and electronic products. The Company is also involved in related engineering, trading, research, development and testing businesses. It operates its businesses mainly in domestic and overseas markets.

Chongqing Zongshen Power Machinery (A)

Chongqing Zongshen Power Machinery is engaged in the development and sale of motorcycle engines and its spare parts, machinery products and high-technology products; investment and management of thermal impetus machinery and related technology development; and industries investments. Through its subsidiaries, Co. is also engaged in the import and export of Co.'s self-produced products and technologies. Co. distributes its products in the domestic market and overseas markets, such as other Asian countries, Europe, Africa and Oceania.

Create Technology & Science Co. Ltd. A

Create Technology & Science is engaged in domestic trading; self-run and acting as an agent for the import and export of all sorts of products and technology; development, manufacture, processing and sale of apparatus and instrument, electronic equipment, environmental protection equipment, electrical material, machinery and automatic monitoring instruments; provision of assets operation, property management and information network services. Co.'s products include air purifiers, cleanliness products, parking equipment, apparatus and instrument, grinding materials, high voltage insulator, electrical appliances, needle bearing and automobiles.

Credicorp Ltd.

CrediCorp is a holding company. Through its subsidiaries, Co. is engaged in investing activities. Co. operates primarily through four operating segments: banking, investment banking, insurance, and pension funds. Banking - principally handling loans, credit facilities, deposits and current accounts. Insurance - principally comprising the issue of insurance policies to cover losses in commercial property, transportation, marine vessels, automobile, life, health and pension funds. Pension funds - providing services of private pension fund management to affiliated pensioners. Investment banking - provide investment brokerage and management to a broad and diverse clientele.

Fulgent Sun International (Holding)

Fulgent Sun International (Holding) Co Ltd. Fulgent Sun International (Holding) Co., Ltd. is a Taiwan-based company principally engaged in the Original Equipment Manufacturer (OEM) production and sales of sports shoes and outdoor shoes, as well as the agent distribution of sports and leisure outdoor products. The Company's main products include outdoor shoes, sports shoes and others. The Company distributes its products in domestic market and to overseas markets, such as Europe, the Americas and the rest areas of Asia.

G-bits Network Technology Xiamen (A)

G-bits Network Technology (Xiamen) Co., Ltd. is a China-based company and mainly engaged in planning, development and operation of online game. The main businesses of the company are online game and console game. Online game business includes mobile, pad and other mobile terminal games, personal computer online games and web games. Console game business is mobile terminal console game. The Company distributes its products and service in domestic and overseas markets.

Giant Manufacturing Co. Ltd.

Giant Manufacturing is engaged in the manufacture, process and sale of bicycles, indoor fitness equipment, and equipment used for sport purposes; manufacture and sale of bicycle parts such as handgrips, wheel rims, frames, front forks, chains, braces, saddles, dynamos, steel balls, bells, and fly-wheels; manufacture and sale of diesel and steam engines, and alternating current generators; process, plate and paint metal products; process, manufacture and sale of spare-parts for automobiles, steamships, and airplanes; and sale of sports and leisure appliances and bicycle fittings.

Guangdong Highsun Group (A)

Guangdong Highsun Yongye (Group) is principally engaged in the production and sale of charcoal black series products and kaolin series products. Co. is also engaged in trading of petroleum products, as well as generation of electricity by utilizing waste heat from the carbon black process. Co. operates predominantly in southern China, northern China and eastern China. As of Dec. 31, 2007, Co. produced approximately 44,000 metric tons of charcoal blacks and 154,000 metric tons of kaolin.

Guangzhou Grandbuy (A)

Guangzhou Grandbuy is principally engaged in the general merchandise retail industry. Co. is engaged in domestic commercial, including retail selling of jewelries, medicine, cigarettes, alcohol, magazines and others; design and production of advertisement and publication services; leasehold of space; dye; the import and export of industrial products, handicraft and food; repair of daily-use merchandise; the provision of haircut, hairdressing, photography, photocopy, automobile safekeeping, forwarding and storage, loading and unloading, as well as transit services; food and beverages; indoor themepark; and the purchase and sell of agricultural by-products.

Harbin Boshi Automation (A)

Harbin Boshi Automation Co Ltd. HARBIN BOSHI AUTOMATION CO., LTD. is a China-based company principally engaged in the research, development, manufacture and distribution of petrochemical post-processing equipment sets. The Company's main products include automatic packaging and piling equipment sets for granule materials and post-processing equipment sets of synthetic rubber, which are applied in petrochemical industry. The Company is also involved in the provision of related integrated services, including spare parts supply services, related equipment inspection and maintenance services, transportation security services and production operation and management. The Company operates mainly in domestic market, with East China and northwest area of China as its main markets.

Hengdian Group Tospo Lighting (A)

Jonjee Hi-Tech Industrial And Commercial Holding (A)

Jonjee Hi-Tech Industrial & Commercial Holding is engaged in urban infrastructure investment; property management; secondary water supply; hi-technology industry investment and development; industrial investment; equipment leasing; provision of technology and communication consultation services; and sale of industrial materials, general merchandises, hardware, electrical appliances; chemical products, needles, textile products and construction materials. Through its subsidiaries, Co. is also engaged in production of sauce, flavoring, non-alcoholic beverage, and automobile and motorcycle accessories.

KGHM Polska Miedz S.A.

KGHM Polska Miedz is engaged in the mining of copper and non-ferrous metals ore; the excavation of gravel and sand; the production of copper, precious and non-ferrous metals; the production of salt; the casting of light and non-ferrous metals; the forging, pressing, stamping and roll forming of metal- powder metallurgy; waste management; wholesale based on direct payments or contracts; warehousing and storage of merchandise; holding management activities; geological and exploratory activities; general construction activities with respect to mining and production facilities; scheduled and non-scheduled air transport; telecommunication and IT services; and other activities.

Kia Motors Corp.

KIA MOTORS CORPORATION is a Korea-based company principally engaged in the manufacture and distribution of automobiles. The Company's products include passenger vehicles, recreational vehicles (RVs), taxi, bus, commercial vehicles as well as hybrid vehicles under the brand names of K3, K5, K7, K9, Soul, Sedona, Sorento, Sportage and others. The Company also engaged in the manufacture of automobile components, as well as prevision of rental and maintenance services. The Company distributes its products within domestic market and to overseas markets, such as North America, Europe and other Asian countries, among others.

Korea Kolmar

Korea Kolmar is engaged in the provision of cosmetic, pharmaceutical, and health functional foods. Co.'s products include skin care, makeup, body care, hair care, perfume, gerneral medicine, bioequivalence medicine, and special foods.

Kunming Yunnei Power (A) (SC SZ)

Kunming Yunnei Power and its subsidiaries are engaged in the development, production and sale of diesel engines, light trucks, automobiles, agricultural transport vehicles, and tractors. Co. has developed seven product series, consisting approximately 30 general types. Co.'s products include generating set, fixed power set, engineering automobile, trucks, passenger bus and others, namely 2100QB Diesel Engine, D30 Diesel Engine from natural aspirated diesel engine category; 490ZQ Diesel Engine, 4100QBZ Diesel Engine from urbocharged diesel engine category; and others.

LG Chem Ltd.

LG Chem is engaged in the business of chemicals and polymers, industrial materials and information and electronic materials. Co. provides polyvinyl chloride products, plasticizers, polyethylene compounds, acrylic acids, engineering plastics, elastomers and conductive resins. Co. also manufactures lithium-ion batteries, printed circuit materials, toner, photosensitive materials, and organic light-emitting diode (OLED) materials.

Light Servicos de Eletricidade S/A Ord

Light is a holding company. Through its subsidiaries, Co. is engaged in the generation, distribution and sale of electric energy. Co. operates following the terms of a concession granted by the National Agency for Electric Energy (ANEEL). As of Dec 31 2007, Co. sold 24,505 GWh of energy to approximately 3,880,527 consumers.

MercadoLibre Inc.

MercadoLibre is engages in an online commerce ecosystem. Co.'s platform is designed to provide users with a portfolio of services to facilitate commercial transactions. Co. integrated e-commerce services includes: the MercadoLibre Marketplace, which is an automated, topically-arranged and user-friendly online commerce service; MercadoLibre Classifieds Service, which users can also list and purchase motor vehicles, vessels, aircraft, real estate and services; MercadoPago payments solution, providing a mechanism that allows its users to send and receive payments online; and MercadoLibre advertising program, which enable businesses to promote their products and services on the Internet.

Nanjing Xinlian Electronics (A)

Nanjing Xinlian Electronics Co., Ltd is a China-based company principally engaged in the research and development, manufacture, distribution and services of software and hardware of power consuming information collection systems. The Company provides series products and solutions for electric power industry, including main station software, 230M wireless network, terminal equipment and electric power measuring equipment. The Company' s products also include electric cabinets and smart power cloud services. It distributes its products primarily in domestic markets.

Newcapec Electronics (A)

Newcapec Electronics Co., Ltd. is a China-based company mainly engaged in the development, manufacture and sale of all-in-one smart cards and intelligent terminals. The Company provides all-in-one smart card systems, identification terminals, consumption terminals, source management and control systems and system integrations for schools, enterprises, public utilities, urban and other areas. The Company mainly distributes its products within domestic market.

Ningbo Fuda (A)

Ningbo Fuda is engaged in the manufacture, process, wholesale and retail of home electrical appliances, electrical machinery, stationery, shoes and hats, handicrafts, water-heating pipes, plastic products, mold, metal products, plastic processing special equipment, vacuum cleaners, environmental sanitation vehicle accessories, knit wear and fabric; repair and maintenance of household electrical appliances; design of computer products; supply of water; real estate development and operation; and industrial investment. Through its subsidiaries, Co. is engaged in the manufacture of cement; and materials inspection and testing services.

Oriental Holdings

Oriental Holdings is an investment holding company. Co. is engaged in commissioned agent and the provision of management services. Co.'s segments include: Automotive and related products, which is engaged in retailer, assembly and distributor of motor vehicles and in the manufacture of engines, seats and other related parts; Plastic products, which is engaged in the manufacture, assembly and distribution of plastic component parts and manufacture of plastic technical and industrial goods and equipment; Hotels and resorts; Investment holding and financial services; Plantation, which is engaged in the cultivation of oil palm; and Others including property development.

Pou Chen Corp.

Pou Chen is engaged in the manufacture, processing and sale of athletic and casual footwear, sports apparel and accessories. Through its subsidiaries, Co. is also engaged in the manufacture and sale of electronic components and products such as liquid crystal display module and monitor; import and export of shoes and shoe materials; real estate investment and management; manufacture and sale of mold and mobile phone case; hotel operation; medical biotechnology; manufacture of tooth mold and dental equipment; and property insurance agency. Co. is focused on two major businesses: footwear and sportswear retail. Co. distributes its products in Asia, America, Europe and other countries.

Quanta Computer Inc.

Quanta Computer is a notebook computer original design manufacturer (ODM) company based in Taiwan. Co. is engaged in the design, manufacture and sale of computer, computer components, peripherals and related communication products. Through its subsidiaries, Co. is engaged in the production and trading of computer related products, electronic equipment and accessories, precision machinery, and disc drive; and equity investment. Co.'s products include notebook PC series product, GSM mobile phone, web PDA, wireless LAN related products, LCD-Monitor, LCD PC, LCD TV and web server.

Robinsons Land

Robinsons Land is engaged in selling, acquiring, developing, operating, leasing and disposing of real properties such as land, buildings, shopping malls, commercial centers and housing projects, hotels and mixed-used property projects. Co. operates its business in four divisions: Commercial Center, which include the development, leasing and management of shopping malls/commercial centers; Residential, which include the development and selling of residential condominium spaces, as well as residential projects; office division, which include the development and leasing of offices spaces; and hotel, which include owning and operating a chain of hotels in various locations in the Philippines.

Shenyang Cuihua Gold and Silver Jewelry (A)

Shenyang Cuihua Gold and Silver Jewelry Co., Ltd. is a China-based company principally engaged in the design, processing, wholesale and retail of jewelry. The Company's main products include gold jewelry, platinum jewelry, inlaid jewelry and other jewelry. The Company distributes its products in domestic market.

Shenzhen Gongjin Electronics (A)

Shenzhen Gongjin Electronics Co Ltd. SHENZHEN GONGJIN ELECTRONICS CO.,LTD is a China-based company principally engaged in the manufacture of broadband communication terminals. The Company is primarily engaged in the research and development, manufacture and sales of broadband communication terminals to communication equipment suppliers. The Company primarily produces asymmetric digital subscriber line (ADSL) terminals, very high speed digital subscriber line (VDSL) terminals, optical access terminals, Wi-Fi terminals and 3G terminals, as well as other broadband communication terminals. The Company distributes its products within domestic market and to overseas market.

Sociedad Matriz Banco de Chile SA Cl B

Sociedad Matriz del Banco de Chile SA is a Chile-based company, which is primarily engaged in the activities related to the investment and management in the share capital of Banco de Chile, which is a Chilean banking institution that provides, directly and through its subsidiaries, a range of credit and non-credit products and services. The Company operates through such subsidiaries as Banco de Chile, as well as Sociedad Administradora de la Obligacion Subordinada SAOS SA.

Sunac China Holdings Ltd

Sunac China Holdings is an investment holding company. Through its subsidiaries, Co. is principally engaged in property development, property investment and property management services in the People's Republic of China. As of Dec 31 2012, Co. had project developments in the five main regions of Beijing, Tianjin, Chongqing, Shanghai and Hangzhou, which were in different phases and covered a range of property types, such as high-rise and mid-rise residences, detached villas, townhouses, retail properties, offices and car parks.

Syarikat Takaful Malaysia Keluarga Berhad

Syarikat Takaful Malaysia is principally engaged in managing family and general takaful businesses.

Tongyu Heavy Industry (A)

Tongyu Heavy Industry Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and distribution of large forging products. The Company mainly provides wind power principal axises, turbine rotors, other forgings, forging billets (steel ingots), metallurgical equipment and powder metallurgy products. The Company is also engaged in nuclear generation business. The Company distributes its products within domestic markets and to overseas markets.

Tungkong (A)

Tungkong Security Printing is engaged in the printing of business forms; and processing and sale of other paper products. Co.'s business form offerings consist of passbooks, commercial invoices, adhesive labels, identity certificate paper, digital printing paper and color printing paper. Additionally, Co. supplies various stationery paper, such as printing paper, copy paper and xerographic paper. Through its subsidiaries, Co. is also engaged in the development of computer software. Co. operates solely in one geographic area, namely, the People's Republic of China.

UEM Edgenta

UEM Edgenta is an investment holding company. Co. is engaged in the provision of management services to its subsidiaries. Through its subsidiaries, Co. is engaged in facilities management; provision of hospital support services; provision of biomedical and electronic engineering maintenance services; provision of laundry processing activities; property development; and the provision of energy performance management services. Co. operates within the following segments: property; integrated facilities management (Concession); integrated facilities management (Non-Concession); and other.

UPL
UPL

UPL is a global producer of crop protection products, intermediates, specialty chemicals and other industrial chemicals based in India. Co. offers a range of products that includes insecticides, Fungicides, Herbicides, Fumigants, PGR and Rodenticides. Co. manufactures and markets Caustic Chlorine, White Phosphorus, Industrial Chemicals, Specialty Chemicals and is engaged in Captive Power Generation of 48.5 MW. Co. maintains a range of generic agrochemical and other chemical intermediates which are exported to more than 100 countries in the world.

Weihai Guangtai Airport (A)

Weihai Guangtai Airport Equipment is engaged in the development, manufacture and sale various type of aviation ground support equipment. Co. offers approximately 40 types of products such as aircraft ground power units, battery cart, GPU test cart, tow tractors, passenger boarding stairs, potable water service vehicles, lavatory service vehicles, catering trucks, container and pallet loader, baggage conveyor belt, emergency working vehicles, boarding lounge, jet starter unit, solid state, lightening equipment, aircraft refueller and aircraft deicing vehicles.

Zhejiang China Light & Textile Industrial City Group Co. Ltd. A

Zhejiang China Light & Textile Industrial City Group is engaged in property leasing, management, development, and construction; provision of storage, transportation and labor services; sale of textile materials, chemical materials and products, construction and decoration materials, metal, timber, mineral products, electronic products, art and crafts, electrical components, knitwear, garments, general merchandise, hardware, and sporting goods; interior and exterior decoration; provision of parking and consultation services; and manufacture of textile products.

Zhejiang Hisoar Pharmaceutical (A)

Zhejiang Hisoar Pharmaceutical and its subsidiary are principally engaged in the production of pharmaceutical ingredients, intermediates, fine chemicals and veterinary product. Co. main products include antibiotics, anti-diabetes, anti-infective, anti-hepatitis, diuresis, diminish inflammation, anti-blues and anti-acquired immune deficiency syndrome (AIDS) drugs, pharmaceutical intermediates and pesticide intermediates. Co. distributes its products in domestic market as well as export to North America, Southeast Asia, Japan, European Union countries.

Zhejiang Narada Power Source (A)

ZHEJIANG NARADA POWER SOURCE Co. , Ltd. is a China-based company principally engaged in the construction of data centers and Internet infrastructure, as well as the provision of power systems and power solutions. The Company operates its business through the provision of motive power, reserve power and specialty batteries with a range of integrated services and systems. The Company's main products include valve-regulated sealed batteries, lithium ion batteries and recycled lead products, among others. The Company distributes its products in domestic market and to overseas markets.

Zhejiang Supor Cookware Co. Ltd. A

Zhejiang Supor is engaged in the manufacture and sale of kitchenware, stainless steel products, hardware for daily use, small household electronic appliances and cookware. Through its subsidiaries, Co. is also engaged in the manufacture of rubber and plastic products; and manufacture and process of non-ferrous metal composite materials. Co.'s main products include pressure cooker, milk pot, stockpot, frying pan, saucepan, vacuum pot, electric kettle, induction cooker, electric chafing dish, electric rice cooker, juice extractor, water purifier and dispenser, hood fan and medical used sterilizer.

Zhejiang Yongtai Technology (A)

Zhejiang Yongtai Technology Co ., Ltd. is a China-based company principally engaged in the research, development, manufacture and distribution of fluoric fine chemical products. The Company's main products include pharmaceutical fluorine-containing intermediates, fluoride-containing intermediates of herbicides, fungicides and pesticides, pesticides and related agents, fluorine-containing single crystal intermediates, single crystal and flat panel display color filter materials, lthium hexafluorophosphate and lithium bisfluorosulfonyl imide, among others. The Company distributes its products in domestic market and to overseas markets.

Zhenjiang Dongfang Electric Heating Technology (A)

Zhenjiang Dongfang Electric Heating Technology Co Ltd. Zhenjiang Dongfang Electric Heating Technology Co., Ltd is a China-based company principally engaged in the research, development, manufacture and sales of electric heaters and related control systems. The Company's main products include commercial electric heaters, industrial electric heaters, as well as oil and gas separation equipment. The Company is also engaged in the research, development and manufacture of steel (aluminum) plastic composite materials for power cables and precision steel shell materials for power lithium batteries. The Company distributes its products in domestic market and to overseas markets.

Provider
Vermilion Research
Vermilion Research

Vermilion Research delivers timely, actionable, and unique research inputs to professional investors. Our research strategists highlight securities which we believe are at major inflection points, based on our various proprietary technical indicators, and offer asymmetric risk/return profiles. We believe our research methodology, which is not limited by industry sector or market capitalization, enables us to deliver superior investment recommendations.

Our process begins by organizing all actively traded stocks into coherent sectors, then into logical industry groups. We then apply our proprietary relative strength tools to identify developing price trends. Once attractive trends are identified within a selected sectors or groups, we screen for individual stocks which we believe offer the best risk/reward profile. Vermilion offers U.S. and global equity market research products. Vermilion’s research team, which has received numerous awards and accolades, has a combined 70 year of experience in the analysis of investment securities.

Analysts
Dave Nicoski

Ross LaDuke

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