Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

Organic Tea Cosmetics Holding / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/23576" target="_blank" data-smartkarma-citation="entities:23576:1">Organic Tea Cosmetics Holding (1436519D KS)</a> joins a growing number of Chinese companies that are listing their shares on the Korea Stock Market. Organic Tea Cosmetic Holding is expected to become the fifth Chinese company to list their shares on the Korea Stock Exchange in 2016. Among the Chinese companies trying to complete their IPOs in Korea this year, Organic Tea Cosmetics Holdings has one of the most attractive financials. Currently, there are 12 Chinese companies whose shares are listed on…

Organic Tea Cosmetics Holding (1436519D KS) joins a growing number of Chinese companies that are listing their shares on the Korea Stock Market. Organic Tea Cosmetic Holding is expected to become the fifth Chinese company to list their shares on the Korea Stock Exchange in 2016. Among the Chinese companies trying to complete their IPOs in Korea this year, Organic Tea Cosmetics Holdings has one of the most attractive financials. Currently, there are 12 Chinese companies whose shares are listed on…

Why Are Chinese Companies Listing on the Korea Stock Market?

Thematic (Sector/Industry)

<ul><li>NS Shopping represents value investing at its core.</li><li>It is an unfairly cheap stock with base case 47% upside from current levels. (Trading at 3.8x EV/EBITDA).</li><li>NS Shopping boasts the highest ROE, operating margins, sales growth, and operating profit growth among its peers.</li><li>Net cash is 35% of its market cap. </li><li>We like the company's focus on food related products for home shopping.  For the company, food related items are returned only 2-3%. This is much lower than other items such as clothing. </li><li>One of the significant trends in the Korean TV industry in the past year has been the increasing popularity of the "Cook-Bang" TV shows, which combine both cooking and entertainment. In particular, four cable TV shows, including "Take Care of My Refrigerator," "What Shall We Eat Today?", "Master Chef Korea," and "Mr. Baik: The Homemade Food Master" have gained rapid popularity. Increasing popularity of the food oriented TV shows also help NS Shopping as these food focused programs mention specific food items and these items often become hot selling items in NS Shopping. </li></ul>

NS Shopping represents value investing at its core.It is an unfairly cheap stock with base case 47% upside from current levels. (Trading at 3.8x EV/EBITDA).NS Shopping boasts the highest ROE, operating margins, sales growth, and operating profit growth among its peers.Net cash is 35% of its market cap. We like the company's focus on food related products for home shopping.  For the company, food related items are returned only 2-3%. This is much lower than other items such as clothing. One of the significant trends in the Korean TV industry in the past year has been the increasing popularity of the "Cook-Bang" TV shows, which combine both cooking and entertainment. In particular, four cable TV shows, including "Take Care of My Refrigerator," "What Shall We Eat Today?", "Master Chef Korea," and "Mr. Baik: The Homemade Food Master" have gained rapid popularity. Increasing popularity of the food oriented TV shows also help NS Shopping as these food focused programs mention specific food items and these items often become hot selling items in NS Shopping. 

Value Investing at Its Core (NS Shopping - 138250KS)

South Korea

China Great Star International Limited manufactures various footwear and clothing. The Company, through its subsidiaries, offers its products throughout China.

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China Great Star Internation (900040 KS)

Why Are Chinese Companies Listing on the Korea Stock Market?

Organic Tea Cosmetics Holding (1436519D KS) joins a growing number of Chinese companies that are listing their shares on the Korea Stock Market....

Douglas Kim

Value Investing at Its Core (NS Shopping - 138250KS)

NS Shopping represents value investing at its core. It is an unfairly cheap stock with base case 47% upside from current levels. (Trading at 3.8x...

Douglas Kim

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