reports
- Greater China Research Team
- Johnny Yum
- Kitpon Praipaisarnkit
- Malaysia Research Team
- Singapore Research Team
- Thailand Research Team
- Vincent Khoo Boo Aik
REG: Strategy: Alpha Picks - May 2024
GREATER CHINA Strategy Alpha Picks: May Conviction Call: Adding CR Beer, Crystal, Geely, Haier, Kuaishou, Ningbo Tuopu, Pinduoduo, Shenzhou, and Tencent to our BUY list, closing out SELL calls. INDONESIA Strategy Alpha Picks: Slight Outperformance In A Bear Market: Our picks are BSDE, TLKM, ACES, BBTN, CMRY, SIDO, JSMR and AKRA. MALAYSIA Strategy Alpha Picks: Well-Positioned For 1Q Results Season: Our April picks again beat the KLCI. May 24 picks: GENM, Inari, Mah Sing, MrDIY, MYEG, Press Meta...
TFG THAIFOODS GROUP
600690 HAIER SMART HOME CO. LTD. CLASS A
02313 SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED
AS7 ANTA SPORTS PRODUCTS LTD.
300014 EVE ENERGY CO. LTD. CLASS A
A117ME ALIBABA GROUP HOLDING LTD. SPONSORED ADR
G13 GENTING SINGAPORE
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
KKP KIATNAKIN BANK
00016 SUN HUNG KAI PROPERTIES LIMITED
00992 LENOVO GROUP LIMITED
00291 CHINA RESOURCES BEER (HOLDINGS) CO. LTD.
CPF CHAROEN POKPHAND FOODS PUBLIC CO. LTD.
ES ESSO SOCIETE ANONYME FRANCAISE
AKRA PT AKR CORPORINDO TBK
01109 CHINA RESOURCES LAND LIMITED
00388 HONG KONG EXCHANGES & CLEARING LTD.
CTRA CIPUTRA DEVELOPMENT
STEC SINO-THAI ENGINEERING & CONSTRUCTION PCL
02328 PICC PROPERTY & CASUALTY CO. LTD. CLASS H
600809 SHANXI XINGHUACUN FEN WINE FACTORY CO. LTD. CLASS A
V03 VENTURE CORPORATION LIMITED
ERW ERAWAN GROUP
TOP THAI OIL PUBLIC CO. LTD.
U96 SEMBCORP INDUSTRIES LTD.
SXC SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
JSMR PT JASA MARGA (PERSERO) TBK CLASS B
01299 AIA GROUP LIMITED
KLBF PT KALBE FARMA TBK
EA ENERGY ABSOLUTE PUBLIC CO. LTD.
TU THAI UNION GROUP PUBLIC COMPANY LIMITED
COM7 COM7
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
600585 ANHUI CONCH CEMENT COMPANY LIMITED CLASS A
00027 GALAXY ENTERTAINMENT GROUP LIMITED
C52 COMFORTDELGRO CORPORATION LIMITED
BMRI PT BANK MANDIRI (PERSERO) TBK
ORI1 ORIENT OVERSEAS (INTERNATIONAL) LIMITED
MINT MINOR INTERNATIONAL PUBLIC CO. LTD.
Z74 SINGAPORE TELECOMMUNICATIONS LIMITED
MAPI MITRA ADIPERKASA
O39 OVERSEA-CHINESE BANKING CORPORATION LIMITED
AP4 RIVERSTONE HOLDINGS
ADRO PT ADARO ENERGY TBK
300124 SHENZHEN INOVANCE TECHNOLOGY CO. LTD CLASS A
601888 CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED CLASS A
PTTGC PTT GLOBAL CHEMICAL PUBLIC COMPANY LTD
ACES PT ACE HARDWARE INDONESIA TBK
TLKM PT TELKOM INDONESIA (PERSERO) TBK CLASS B
ROTI NIPPON INDOSARI CORPINDO
00700 TENCENT HOLDINGS LTD.
601689 NINGBO TUOPU GROUP CO. LTD. CLASS A
M4B CHINA MERCHANTS BANK CO. LTD. CLASS H
SE SEA ADS
INRI INARI AMERTRON BHD
FEHT FAR EAST HOSPITALITY TRUST
PTTEP-R PTT EXPLORATION & PRODUCTION PCL NVDR
BAL BUMITAMA AGRI LTD
SCGB SUNWAY CONSTRUCTION GROUP BH
KPJ KPJ HEALTHCARE BERHAD
SMM SEMBCORP MARINE LTD
BURSA BURSA MALAYSIA BHD
MSGB MAH SING GROUP BHD
IOI IOI CORP BHD
CPALL TB CP ALL
GENM GENTING MALAYSIA BHD
MAHB MALAYSIA AIRPORTS HLDGS BHD
333 MIDEA GROUP
06098 COUNTRY GARDEN SERVICES HOLDINGS CO. LTD.
01801 INNOVENT BIOLOGICS INC.
2013 WEIMOB INC
EKO EKOVEST BHD
RGB RGB INTERNATIONAL BHD
SCB-R SIAM COMMERCIAL BANK PCL NVDR
709 GIORDANO INTERNATIONAL LTD
1093 CSPC PHARMACEUTICAL GROUP LTD
FRKN FRENCKEN GROUP LTD
MPM MARCO POLO MARINE LTD
MRDIY MR DIY GROUP M BHD
09988 ALIBABA GROUP HOLDING LTD.
09999 NETEASE INC
2696 SHANGHAI HENLIUS BIOTECH INC
KEX KERRY EXPRESS (THAILAND)
OR PTT OIL & RETAIL BUSINESS PCL
TIDLOR NGERN TID LOR PCL
1209 CHINA RESOURCES MIXC LIFESTYLE SERVICES
3692 HANSOH PHARMACEUTICAL GROUP
BUKA BUKALAPAK.COM PT TBK
01024 KUAISHOU TECHNOLOGY CLASS B
PDD PINDUODUO PDD US
09888 BAIDU INC
BBTN BANK TABUNGAN NEGARA PERSERO TBK PT
BBNI BANK NEGARA INDONESIA PERSER
EXCL XL AXIATA TBK PT
MPACT MAPLETREE PAN ASIA COMMERCIAL TRUST
GOTO GOJEK TOKOPEDIA TBK PT
CMRY PT CISARUA MOUNTAIN DAIRY TBK
CLAS CAPITALAND ASCOTT TRUST
SMGR SEMEN INDONESIA PERSERO TBK
NATGATE NATIONGATE HOLDINGS BHD
NCKL PT TRIMEGAH BANGUN PERSADA TBK (HARITA NICKEL)
2232 CRYSTAL INTERNATIONAL GROUP LTD
SUNWAY SUNWAY BHD
ESSO ESSO THAILAND PCL
HUME HUME CEMENT INDUSTRIES BHD
02015 LI AUTO INC
09961 CTRIP.COM INTERNATIONAL
BTG BETAGRO PUBLIC COMPANY LIMITED
- Bella Lu Yifei
- Benjaphol Suthwanish
- Greater China Research Team
- Jacquelyn Yow Hui Li
- Johnny Yum
- Jonathan Koh
- Kampon Akaravarinchai
- Kasemsun Koonnara
- Kate Luang
- Ken Lee
- Kong Ho Meng
- Leow Huey Chuen
- Limartha Adhiputra
- Malaysia Research Team
- Posmarito Pakpahan
- Singapore Research Team
- Vincent Khoo Boo Aik
Regional Morning Meeting Notes: Friday, May 03, 2024
GREATER CHINA Strategy Alpha Picks: May Conviction Call Adding CR Beer, Crystal, Geely, Haier, Kuaishou, Ningbo Tuopu, Pinduoduo, Shenzhou, and Tencent to our BUY list, closing out SELL calls. Small-Mid Cap Monthly Reiterate BUY on Crystal International. Sector Automobile Weekly: EV sales pick up; take...
600690 HAIER SMART HOME CO. LTD. CLASS A
02313 SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED
300014 EVE ENERGY CO. LTD. CLASS A
LH LAND & HOUSES PUBLIC CO. LTD.
ORI ORIGIN PROPERTY
G13 GENTING SINGAPORE
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
00992 LENOVO GROUP LIMITED
00291 CHINA RESOURCES BEER (HOLDINGS) CO. LTD.
002142 BANK OF NINGBO CO. LTD. CLASS A
CPF CHAROEN POKPHAND FOODS PUBLIC CO. LTD.
AKRA PT AKR CORPORINDO TBK
AALI ASTRA AGRO LESTARI
6963 V.S. INDUSTRY
544 CSE GLOBAL LTD.
D05 DBS GROUP HOLDINGS LTD
600660 FUYAO GLASS INDUSTRY GROUP CO. LTD. CLASS A
V03 VENTURE CORPORATION LIMITED
QH QUALITY HOUSES
ERW ERAWAN GROUP
U96 SEMBCORP INDUSTRIES LTD.
B8O YANGZIJIANG SHIPBUILDING (HOLDINGS) LTD.
SXC SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
JSMR PT JASA MARGA (PERSERO) TBK CLASS B
01299 AIA GROUP LIMITED
TU THAI UNION GROUP PUBLIC COMPANY LIMITED
GFPT GFPT
SPALI SUPALAI PCL
C52 COMFORTDELGRO CORPORATION LIMITED
BMRI PT BANK MANDIRI (PERSERO) TBK
Z74 SINGAPORE TELECOMMUNICATIONS LIMITED
O39 OVERSEA-CHINESE BANKING CORPORATION LIMITED
M3I MINTH GROUP LIMITED
AP4 RIVERSTONE HOLDINGS
BSDE PT BUMI SERPONG DAMAI TBK
300124 SHENZHEN INOVANCE TECHNOLOGY CO. LTD CLASS A
002340 GEM CO. LTD. CLASS A
5Z0 ZHONGSHENG GROUP HOLDINGS LTD.
ACES PT ACE HARDWARE INDONESIA TBK
AP AP THAILAND
01316 NEXTEER AUTOMOTIVE GROUP LIMITED
TLKM PT TELKOM INDONESIA (PERSERO) TBK CLASS B
002709 GUANGZHOU TINCI MATERIALS TECHNOLOGY CO LTD CLASS A
00700 TENCENT HOLDINGS LTD.
601689 NINGBO TUOPU GROUP CO. LTD. CLASS A
01585 YADEA GROUP HOLDINGS LTD.
2333 GREAT WALL MOTOR CO. LTD. CLASS H
1211 BYD COMPANY LIMITED CLASS H
02238 GUANGZHOU AUTOMOBILE GROUP CO. LTD. CLASS H
PDD PINDUODUO INC. SPONSORED ADR CLASS A
FEHT FAR EAST HOSPITALITY TRUST
SIDO INDUSTRI JAMU DAN FARMASI SI
SCGB SUNWAY CONSTRUCTION GROUP BH
MYEG MY EG SERVICES BHD
WPRTS WESTPORTS HOLDINGS BHD
MSGB MAH SING GROUP BHD
PMAH PRESS METAL ALUMINIUM HOLDIN
333 MIDEA GROUP
TXG 10X GENOMICS INC CLASS A
TGIF 1933 INDUSTRIES
PSH PRUKSA HOLDING PCL
RGB RGB INTERNATIONAL BHD
338 WEICHAI POWER
709 GIORDANO INTERNATIONAL LTD
1772 GANFENG LITHIUM CO. LTD. CLASS H
869 PLAYMATES TOYS LIMITED
FRKN FRENCKEN GROUP LTD
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. CLASS A
603305 NINGBO XUSHENG AUTO TECHNOLOGY (A)
MPM MARCO POLO MARINE LTD
3692 HANSOH PHARMACEUTICAL GROUP
01024 KUAISHOU TECHNOLOGY CLASS B
002920 HUIZHOU DESAY SV AUTOMOTIVE CO LTD
BBTN BANK TABUNGAN NEGARA PERSERO TBK PT
MPACT MAPLETREE PAN ASIA COMMERCIAL TRUST
CMRY PT CISARUA MOUNTAIN DAIRY TBK
123F 123FAHRSCHULE SE
NCKL PT TRIMEGAH BANGUN PERSADA TBK (HARITA NICKEL)
2232 CRYSTAL INTERNATIONAL GROUP LTD
Z29 029 GROUP SE
02015 LI AUTO INC
09868 XPENG INC
BTG BETAGRO PUBLIC COMPANY LIMITED
GENTMK GENTING BERHAD
- Greater China Research Team
Greater China Alpha Picks: May Conviction Call
The HSI and MSCI China rose 7.4% and 6.4% mom respectively in April, lifted by news of a stock connect scheme expansion and further easing of restrictions on property purchases in China. With the July Politburo likely to see further supportive policy rollout, we are adding beneficiaries of improving domestic consumption − CR Beer, Crystal, Geely, Haier, Kuaishou, Ningbo Tuopu, Pinduoduo, Shenzhou and Tencent − to our BUY list, and closing out our SELL calls.
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
00992 LENOVO GROUP LIMITED
00291 CHINA RESOURCES BEER (HOLDINGS) CO. LTD.
SXC SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
01299 AIA GROUP LIMITED
300124 SHENZHEN INOVANCE TECHNOLOGY CO. LTD CLASS A
000333 MIDEA GROUP CO. LTD. CLASS A
00700 TENCENT HOLDINGS LTD.
601689 NINGBO TUOPU GROUP CO. LTD. CLASS A
PDD PINDUODUO INC. SPONSORED ADR CLASS A
3692 HANSOH PHARMACEUTICAL GROUP
01024 KUAISHOU TECHNOLOGY CLASS B
06690 HAIER SMART HOME CO. LTD. CLASS H
2232 CRYSTAL INTERNATIONAL GROUP LTD
- Jo Yee Ng
- Shirley Wang Xueyi
- Stella Guo Yuting
China Consumer: Focus on four key theses for the sector.
In this report, we have summarised what we read from consumer companies’ 2023 results, the 2024 outlook and recent updates. We think companies: a) with overseas expansion or turnaround prospects, b) that have upside potential of improving operating efficiency, c) that will benefit from near-term catalysts (eg event-driven), and d) have increasing dividend payout will outperform. Anta, CR Beer, CTGDF, Galaxy, Haidilao, Haier, Midea and Shenzhou are our most preferred stocks. Maintain OVERWEIGHT.
AS7 ANTA SPORTS PRODUCTS LTD.
00291 CHINA RESOURCES BEER (HOLDINGS) CO. LTD.
600132 CHONGQING BREWERY CO.LTD CLASS A
000858 WULIANGYE YIBIN CO. LTD. CLASS A
600809 SHANXI XINGHUACUN FEN WINE FACTORY CO. LTD. CLASS A
EZQ CHINA MENGNIU DAIRY CO. LTD.
02331 LI NING COMPANY LIMITED
600519 KWEICHOW MOUTAI CO. LTD. CLASS A
600887 INNER MONGOLIA YILI INDUSTRIAL GROUP CO. LTD. CLASS A
00027 GALAXY ENTERTAINMENT GROUP LIMITED
600872 JONJEE HI-TECH INDUSTRIAL AND COMMERCIAL HOLDING CO. LTD. CLASS A
601888 CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED CLASS A
599A SANDS CHINA LTD.
000333 MIDEA GROUP CO. LTD. CLASS A
0168 TSINGTAO BREWERY CO. LTD. CLASS H
06862 HAIDILAO INTERNATIONAL HOLDING LTD.
333 MIDEA GROUP
TXG 10X GENOMICS INC CLASS A
1368 XTEP INTERNATIONAL HOLDINGS
01876 BUDWEISER BREWING CO. APAC LTD.
6186 CHINA FEIHE LTD
06690 HAIER SMART HOME CO. LTD. CLASS H
09922 JIUMAOJIU INTERNATIONAL HOLDINGS LTD.
- Jo Yee Ng
- Shirley Wang Xueyi
- Stella Guo Yuting
China Resources Beer (291 HK): 2023: Results in line; ambitious premiu...
CR Beer reported 2023 net profit of Rmb5.2b (+19% yoy), beating consensus forecast by 1% and in line with our expectation. Sales volume of the sub-premium and above beer segment increased 19% yoy, with Heineken delivering a strong yoy growth of about 60%. CR Beer remains our top pick in the beer sector, given its competitive product mix, strong channel management and undemanding valuation. Maintain BUY and reduce target price slightly by 2% to HK65.50.
- Ceilica Su Rui
- Desmond Chong Chee Wai
- Jacquelyn Yow Hui Li
- Jo Yee Ng
- Johnny Yum Chung Man
- Leow Huey Chuen
- Roy Chen Chengzhi
- Shirley Wang Xueyi
- Stella Guo Yuting
- Stevanus Juanda
- Tanaporn Visaruthaphong
- Tham Mun Hon
Regional Morning Notes - Tuesday, March 19, 2024
GREATER CHINA Economics Economic Activity: 2M24 data a mixed bag; property FAI remains a drag. Results China Resources Beer (291 HK/BUY/HK$37.95/Target: HK$65.50): 2023: Results in line; ambitious premiumisation targets. Kingboard Laminates (1888 HK/HOLD/HK$6.21/Target: HK$6.10): 2023: Earnings slightly above profit warning; stimulus may give upside to 2024. Xtep (1368 HK/BUY/HK$4.54/Target: HK$7.00): 2023: Results miss; conservative outlook for 2024. INDONESIA ASEAN Gems Conference Highlights ...
- Ceilica Su Rui
- Greater China Research Team
- Jo Yee Ng
- Johnny Yum Chung Man
- Shirley Wang Xueyi
- Stella Guo Yuting
- Tham Mun Hon
Greater China Daily: Tuesday, March 19, 2024
KEY HIGHLIGHTS Economics Economic Activity 2M24 data a mixed bag; property FAI remains a drag. Results China Resources Beer (291 HK/BUY/HK$37.95/Target: HK$65.50) 2023: Results in line; ambitious premiumisation targets. Kingboard Laminates (1888 HK/HOLD/HK$6.21/Target: HK$6.10) 2023: Earnings slightly above profit warning; stimulus may give upside to 2024. Xtep (1368 HK/BUY/HK$4.54/Target: HK$7.00) 2023: Results miss; conservative outlook for 2024. TRADERS’ CORNER Alibaba Health Information...
- Greater China Research Team
- Johnny Yum
- Kitpon Praipaisarnkit
- Malaysia Research Team
- Singapore Research Team
- Thailand Research Team
- Vincent Khoo Boo Aik
REG: Strategy: Alpha Picks - March 2024
GREATER CHINA Strategy Alpha Picks: March Conviction Call: Adding CMB, COLI, CR Beer, Kuaishou and TUL to our BUY list, closing out SELL calls. INDONESIA Strategy Alpha Picks: Significant Outperformance In Feb 24: Our picks are BBTN, CMRY, SIDO, EXCL, MAPI, JSMR, CTRA, MYOR and AKRA. MALAYSIA Strategy Alpha Picks: Focusing On Earnings Momentum: Our Alpha Picks underperformed the KLCI in Feb 24 (-0.9% vs 2.5%). Mar 24 picks significantly feature companies with good earnings momentum. SINGAPORE...
AS7 ANTA SPORTS PRODUCTS LTD.
A117ME ALIBABA GROUP HOLDING LTD. SPONSORED ADR
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
KKP KIATNAKIN BANK
00688 CHINA OVERSEAS LAND & INVESTMENT LIMITED
00016 SUN HUNG KAI PROPERTIES LIMITED
00992 LENOVO GROUP LIMITED
00291 CHINA RESOURCES BEER (HOLDINGS) CO. LTD.
CPF CHAROEN POKPHAND FOODS PUBLIC CO. LTD.
ES ESSO SOCIETE ANONYME FRANCAISE
AKRA PT AKR CORPORINDO TBK
544 CSE GLOBAL LTD.
01109 CHINA RESOURCES LAND LIMITED
00388 HONG KONG EXCHANGES & CLEARING LTD.
CTRA CIPUTRA DEVELOPMENT
EGCO ELECTRICITY GENERATING PUBLIC CO. LTD.
STEC SINO-THAI ENGINEERING & CONSTRUCTION PCL
02328 PICC PROPERTY & CASUALTY CO. LTD. CLASS H
600809 SHANXI XINGHUACUN FEN WINE FACTORY CO. LTD. CLASS A
V03 VENTURE CORPORATION LIMITED
ERW ERAWAN GROUP
TOP THAI OIL PUBLIC CO. LTD.
U96 SEMBCORP INDUSTRIES LTD.
SXC SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
JSMR PT JASA MARGA (PERSERO) TBK CLASS B
002594 BYD COMPANY LIMITED CLASS A
RLF LONGFOR GROUP HOLDINGS LTD.
KLBF PT KALBE FARMA TBK
EA ENERGY ABSOLUTE PUBLIC CO. LTD.
TU THAI UNION GROUP PUBLIC COMPANY LIMITED
COM7 COM7
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
600585 ANHUI CONCH CEMENT COMPANY LIMITED CLASS A
00027 GALAXY ENTERTAINMENT GROUP LIMITED
MYOR MAYORA INDAH
C52 COMFORTDELGRO CORPORATION LIMITED
BMRI PT BANK MANDIRI (PERSERO) TBK
ORI1 ORIENT OVERSEAS (INTERNATIONAL) LIMITED
Z74 MINOR INTERNATIONAL PUBLIC CO. LTD.
MAPI SINGAPORE TELECOMMUNICATIONS LIMITED
O39 MITRA ADIPERKASA
AP4 OVERSEA-CHINESE BANKING CORPORATION LIMITED
ADRO RIVERSTONE HOLDINGS
601888 PT ADARO ENERGY TBK
PTTGC CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED CLASS A
TLKM PTT GLOBAL CHEMICAL PUBLIC COMPANY LTD
ROTI PT TELKOM INDONESIA (PERSERO) TBK CLASS B
M4B NIPPON INDOSARI CORPINDO
SE CHINA MERCHANTS BANK CO. LTD. CLASS H
SEA ADS
INRI COSCO SHIPPING HOLDINGS CO. LTD. CLASS H
PTTEP-R INARI AMERTRON BHD
BAL PTT EXPLORATION & PRODUCTION PCL NVDR
SCGB BUMITAMA AGRI LTD
KPJ SUNWAY CONSTRUCTION GROUP BH
SMM KPJ HEALTHCARE BERHAD
3933 SEMBCORP MARINE LTD
MINT THE UNITED LABORATORIES INTE
BURSA MAPLETREE INDUSTRIAL TRUST
MSGB BURSA MALAYSIA BHD
IOI MAH SING GROUP BHD
CPALL TB IOI CORP BHD
ECW CP ALL
GENM ECO WORLD DEVELOPMENT GROUP
MAHB GENTING MALAYSIA BHD
06098 MALAYSIA AIRPORTS HLDGS BHD
01801 COUNTRY GARDEN SERVICES HOLDINGS CO. LTD.
2013 INNOVENT BIOLOGICS INC.
EKO WEIMOB INC
RGB EKOVEST BHD
SCB-R RGB INTERNATIONAL BHD
709 SIAM COMMERCIAL BANK PCL NVDR
FEH GIORDANO INTERNATIONAL LTD
1093 FOOD EMPIRE HOLDINGS LTD
1199 CSPC PHARMACEUTICAL GROUP LTD
601138 COSCO SHIPPING PORTS LIMITED
FRKN FOXCONN INDUSTRIAL INTERNET CO. LTD. CLASS A
MPM FRENCKEN GROUP LTD
MRDIY MARCO POLO MARINE LTD
09988 MR DIY GROUP M BHD
09999 ALIBABA GROUP HOLDING LTD.
2696 NETEASE INC
KEX SHANGHAI HENLIUS BIOTECH INC
OR KERRY EXPRESS (THAILAND)
TIDLOR PTT OIL & RETAIL BUSINESS PCL
1209 NGERN TID LOR PCL
BUKA CHINA RESOURCES MIXC LIFESTYLE SERVICES
CVL BUKALAPAK.COM PT TBK
01024 CIVMEC
PDD KUAISHOU TECHNOLOGY CLASS B
09888 PINDUODUO PDD US
BBTN BAIDU INC
BBNI BANK TABUNGAN NEGARA PERSERO TBK PT
EXCL BANK NEGARA INDONESIA PERSER
GOTO XL AXIATA TBK PT
CMRY GOJEK TOKOPEDIA TBK PT
CLAS PT CISARUA MOUNTAIN DAIRY TBK
SMGR CAPITALAND ASCOTT TRUST
NATGATE SEMEN INDONESIA PERSERO TBK
NCKL NATIONGATE HOLDINGS BHD
SUNWAY PT TRIMEGAH BANGUN PERSADA TBK (HARITA NICKEL)
ESSO SUNWAY BHD
HUME ESSO THAILAND PCL
09961 HUME CEMENT INDUSTRIES BHD
BTG CTRIP.COM INTERNATIONAL
BETAGRO PUBLIC COMPANY LIMITED
- Greater China Research Team
China Strategy Alpha Picks: March Conviction Call
The HSI and MSCI China rose 6.6% and 8.2% mom respectively in Feb 24, mainly contributed by heavy-weighted IT and consumer discretionary stocks amid strongerthan- expected policy easing, which led to improved market sentiment. We expect sentiment to remain positive in March, as further macro supportive measures should be unveiled during the Two Sessions. We are adding CMB, COLI, CR Beer, Kuaishou and TUL to our BUY list and closing out the SELL ideas.
00992 LENOVO GROUP LIMITED
00291 CHINA RESOURCES BEER (HOLDINGS) CO. LTD.
SXC SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
RLF LONGFOR GROUP HOLDINGS LTD.
M4B CHINA MERCHANTS BANK CO. LTD. CLASS H
3933 THE UNITED LABORATORIES INTE
1199 COSCO SHIPPING PORTS LIMITED
601138 FOXCONN INDUSTRIAL INTERNET CO. LTD. CLASS A
01024 KUAISHOU TECHNOLOGY CLASS B
Thanks to a better fundamental star rating, CHINA RESOURCES BEER HOLDI...
The independent financial analyst theScreener just awarded an improved star rating to CHINA RESOURCES BEER HOLDINGS (HK), active in the Food Retailers & Wholesalers industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 2 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as moderately risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the ana...
China Resources Beer Holdings Co Ltd: 1 director bought
A director at China Resources Beer Holdings Co Ltd bought 50,000 shares at 39.350HKD and the significance rating of the trade was 51/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the...
- Allen Cheng
Morningstar | 00291 Updated Forecasts and Estimates from 22 Apr 2019
We are lowering our fair value estimate for no-moat China Resources Beer to HKD 23 per share from HKD 25, after taking account into worse-than-expected 2018 net profitsthat were dragged by two nonrecurring provisions for production capacity optimization and for the new employment annuity plan. Management expects the company’s profitability will be improved from the factory consolidation in the long term. However, we don’t expect to see a meaningful positive impact over the next five years. W...
- Allen Cheng
Morningstar | China Resources Beer’s 2H 2018 Profit Miss Due to One-...
We are lowering our fair value estimate for no-moat China Resources Beer to HKD 23 per share from HKD 25, after taking account into worse-than-expected 2018 net profitsthat were dragged by two nonrecurring provisions for production capacity optimization and for the new employment annuity plan. Management expects the company’s profitability will be improved from the factory consolidation in the long term. However, we don’t expect to see a meaningful positive impact over the next five years. W...
- Allen Cheng
Morningstar | China Resources Beer’s 2H 2018 Profit Miss Due to One-...
We are lowering our fair value estimate for no-moat China Resources Beer to HKD 23 per share from HKD 25, after taking account into worse-than-expected 2018 net profitsthat were dragged by two nonrecurring provisions for production capacity optimization and for the new employment annuity plan. Management expects the company’s profitability will be improved from the factory consolidation in the long term. However, we don’t expect to see a meaningful positive impact over the next five years. W...
- Allen Cheng
China Resources Beer’s 2H 2018 Profit Miss Due to One-Off Writedown ...
We are lowering our fair value estimate for no-moat China Resources Beer to HKD 23 per share from HKD 25, after taking account into worse-than-expected 2018 net profitsthat were dragged by two nonrecurring provisions for production capacity optimization and for the new employment annuity plan. Management expects the company’s profitability will be improved from the factory consolidation in the long term. However, we don’t expect to see a meaningful positive impact over the next five years. W...
- Allen Cheng
Morningstar | Despite Weak Consumer Sentiment, Heineken Will Strengthe...
China Resources Beer, formerly known as China Resources Enterprise, disposed all of its nonbeer businesses in September 2015 to become a pure beer player. Through a series of merger and acquisition activities, the company retains its leadership position in China’s beer industry, with market share by sales volume expanding from 18% in 2008 to 27% in 2017, versus 18.1% for Tsingtao, 15.9% for ABI China, and 10.3% for Yanjing. Like its rivals, CR Beer enjoyed prolonged growth of sales volume and ...
- Allen Cheng
Despite Weak Consumer Sentiment, Heineken Will Strengthen CRB's Presen...
We lower our 2018 full-year earnings forecast for no-moat China Resources Beer, or CRB, by 7% to CNY 1.94 billion to reflect the weaker beer consumption demand in the second half due to slowing economic growth. However, our fair value estimate is unchanged at HKD 25 per share, as our five-year profit growth CAGR remains at 27% driven by its collaboration with Heineken. By leveraging CRB’s strong nationwide distribution network, we expect to see a meaningful contribution from the Heineken brand...
- Allen Cheng
Morningstar | Despite Weak Consumer Sentiment, Heineken Will Strengthe...
We lower our 2018 full-year earnings forecast for no-moat China Resources Beer, or CRB, by 7% to CNY 1.94 billion to reflect the weaker beer consumption demand in the second half due to slowing economic growth. However, our fair value estimate is unchanged at HKD 25 per share, as our five-year profit growth CAGR remains at 27% driven by its collaboration with Heineken. By leveraging CRB’s strong nationwide distribution network, we expect to see a meaningful contribution from the Heineken brand...
- Allen Cheng
Morningstar | Despite Weak Consumer Sentiment, Heineken Will Strengthe...
We lower our 2018 full-year earnings forecast for no-moat China Resources Beer, or CRB, by 7% to CNY 1.94 billion to reflect the weaker beer consumption demand in the second half due to slowing economic growth. However, our fair value estimate is unchanged at HKD 25 per share, as our five-year profit growth CAGR remains at 27% driven by its collaboration with Heineken. By leveraging CRB’s strong nationwide distribution network, we expect to see a meaningful contribution from the Heineken brand...
- Allen Cheng
Despite Weak Consumer Sentiment, Heineken Will Strengthen CRB’s Pres...
We lower our 2018 full-year earnings forecast for no-moat China Resources Beer, or CRB, by 7% to CNY 1.94 billion to reflect the weaker beer consumption demand in the second half due to slowing economic growth. However, our fair value estimate is unchanged at HKD 25 per share, as our five-year profit growth CAGR remains at 27% driven by its collaboration with Heineken. By leveraging CRB’s strong nationwide distribution network, we expect to see a meaningful contribution from the Heineken brand...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.