Independent Research, Turtles all the way down

Turtles all the way down

Independent Research

Writing short articles about mis-priced boring stocks around the world.

Equity Bottom-Up

<ul><li>First a new holding, Nameson Holdings (HKG:1982). A vertically integrated knitwear and fabrics manufacturer with most of its production base in Vietnam and some of it still in China.</li><li>They expanded to Myanmar, which did not work out so well, so they had to take significant write-downs and restructuring costs recently of 243 million HK$.</li><li>This somewhat obscures their true earnings power.</li></ul>

First a new holding, Nameson Holdings (HKG:1982). A vertically integrated knitwear and fabrics manufacturer with most of its production base in Vietnam and some of it still in China.They expanded to Myanmar, which did not work out so well, so they had to take significant write-downs and restructuring costs recently of 243 million HK$.This somewhat obscures their true earnings power.

Hong Kong

Texwinca Holdings Limited, through its subsidiaries, produces, dyes, and sells knitted fabric and yarn.  The Company also distributes and retails casual apparel and accessories, provides repair and maintenance services for motors and generators, trades generators, and provides franchise services.

Time Watch Investments Limited manufactures watches. The Company designs, develops, assembles, markets and sells brand name watches throughout Hong Kong and the Peoples Republic of China.

Legendary Education Group Limited operate educational businesses. The Company provides financial quotient and investment education services. Legendary Education Group also conducts OEM and money leading businesses.

Fountain Set (Holdings) Limited, through its subsidiaries, manufactures and sells knitted fabrics, sewing threads, dyed yarns, and garments.  The Company also provides knitting, dyeing, printing and fabric finishing services and trades raw yarns.

Pacific Textiles Holdings Limited manufactures customized knitted fabrics. The Company's fabrics are used in a broad range of fabrics, including men's, women's, and children's clothing, sportswear, swimwear, and inner-wear.

Tristate Holdings Limited, through its subsidiaries, manufactures and sells garments.  The Company also trades general merchandise.

State Energy Group International Assets Holdings Limited manufactures outerwear apparel products. The Company mainly designs, produces, and sells down-filled jackets and functional outerwear products. State Energy Group International Assets Holdings also exports its products.

Mainland Headwear Holdings Limited, through its subsidiaries, designs, manufactures, and sells casual headwear.  Products include baseball caps, bucket hats, winter caps, Gatsby hats, headbands, and sun visors which are made of fabric materials.  The Company exports its products to the US and European markets.

Prosperous Industrial (Holdings) Limited designs, manufactures, and distributes bags and packs. The Company produces sport bags, laptop cases, cosmetic bags, and luggage products. Prosperous Industrial (Holdings) conducts businesses worldwide.

Sitoy Group Holdings Ltd. manufactures leather products.  The Company produces luxury handbags, small leather goods, and travel bags.  Sitoy Group develops and designs products for international brand-name handbag producers and for a retail store chain in the United States.

TSUTSUMI JEWELRY CO., LTD. designs, manufactures, and sells wholesale and retail jewelry.  The Company sells mainly rings, necklaces, and bracelets.  Tsutsumi Jewelry operates directly managed stores based in Saitama prefecture.

Sinoer Men's Wear Company Limited designs, manufactures and markets suits, shirts and other apparel products. The Company sales its products through outlets, franchises, group orders, original equipment manufacturers and direct sales.

Vera Bradley, Inc. designs, produces and retails fashion accessories for women. The Company markets handbags, accessories and travel and leisure items through its chain of retail stores and independent retailers.

Sou Yu Te Fashion Company Limited mainly engages in sale of garments,footwear, textiles and leather products. It also provides services in Internet retail, trade brokerage, warehouse and catering.

Magni-Tech Industries Berhad is an investment holding company which provides management services. Through its subsidiaries, the Company manufactures and distributes flexible plastic packaging materials, inner packaging boxes, fiberboards, cartons, and boxes for industrial and commercial uses.

Hong Ho Precision Textile Co., Ltd. manufactures a variety of fabrics and clothes.

Timex Group India Limited manufactures quartz analog wrist watches. The Company manufactures all watch components including bezels, dials, straps, movement components, crystals and case backs.

Carpenter Tan Holdings Ltd. designs, manufactures, and distributes small size wooden accessories mainly made of natural wood and designed with traditional Chinese characters. The Company's products include wooden or horn combs, pocket-sized wooden mirrors, head bracelets, massage tools, and box sets.

Sinotop Holding Bhd manufactures textiles and apparel. The Company manufactures customized woven fabrics from cotton and synthetic and mixed yarns, and apparel for men and children.

Sabina PCL manufactures women's underwear.  The Company produces panties, brassieres, and lingerie.

Nameson Holdings is a Knitwear manufacturer in PRC

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Nameson Holdings (1982 HK)

Some Updates #2

First a new holding, Nameson Holdings (HKG:1982). A vertically integrated knitwear and fabrics manufacturer with most of its production base in...

Turtles all the way down

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)