Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Equity Bottom-Up

Electrical and mechanical (“E&amp;M”) engineering service provider <a href="https://www.smartkarma.com/entities/analogue-holdings-ltd" target="_blank" data-smartkarma-citation="entities:28661:1" rel="noopener">Analogue Holdings Ltd (1977 HK)</a> ("ATAL") has been on a tear lately, up 33% in the past three weeks, and up 58% YTD.
This small-cap company ticks some interesting boxes:
<ul>
<li>The profit attributable to shareholders was up 23% to HK$301.4mn in FY20, despite Covid challenges.</li>
<li>ATAL has net cash of HK$1.1bn vs its market cap of HK$2.8bn.</li>
<li>It is trading at a trailing PER and P/B of 9.2x and 1.4x.</li>
<li>It boasts an excellent payout ratio - 50.3% in FY20. The dividend per share of HK$0.0892 was up 21.3% yoy. That backs out a ~5.1% yield currently.</li>
<li>Despite its size, it has a detailed <a href="https://www.atal.com/" target="_blank" rel="noopener">website</a>, together with a comprehensive <a href="https://doc.irasia.com/listco/hk/analogue/cpresent/pre210401.pdf" target="_blank" rel="noopener">corporate presentation</a>. </li>
<li>It holds a 24.44% stake in <a href="https://www.smartkarma.com/entities/nanjing-canatal-data-centr-a" target="_blank" data-smartkarma-citation="entities:26605:1" rel="noopener">Nanjing Canatal Data Centr-A (603912 CH)</a>. That is held at cost of HK$116.6mn under interests in associates, however, the market value is currently ~HK$1.04bn.</li>
</ul>
Oh...  and David Webb holds <a href="https://di.hkex.com.hk/di/NSForm1.aspx?fn=IS20210520E00305&amp;sa2=ns&amp;sid=246673&amp;corpn=Analogue+Holdings+Ltd.&amp;sd=10%2f06%2f2020&amp;ed=10%2f06%2f2021&amp;cid=0&amp;sa1=cl&amp;scsd=10%2f06%2f2020&amp;sced=10%2f06%2f2021&amp;sc=1977&amp;src=MAIN&amp;lang=EN&amp;" target="_blank" rel="noopener">7.01%</a>.
More below the fold.

Electrical and mechanical (“E&amp;M”) engineering service provider Analogue Holdings Ltd (1977 HK) ("ATAL") has been on a tear lately, up 33% in the past three weeks, and up 58% YTD.
This small-cap company ticks some interesting boxes:

The profit attributable to shareholders was up 23% to HK$301.4mn in FY20, despite Covid challenges.
ATAL has net cash of HK$1.1bn vs its market cap of HK$2.8bn.
It is trading at a trailing PER and P/B of 9.2x and 1.4x.
It boasts an excellent payout ratio - 50.3% in FY20. The dividend per share of HK$0.0892 was up 21.3% yoy. That backs out a ~5.1% yield currently.
Despite its size, it has a detailed website, together with a comprehensive corporate presentation. 
It holds a 24.44% stake in Nanjing Canatal Data Centr-A (603912 CH). That is held at cost of HK$116.6mn under interests in associates, however, the market value is currently ~HK$1.04bn.

Oh...  and David Webb holds 7.01%.
More below the fold.

China

Nanjing Canatal Data-Centre Environmental Tech Co., Ltd manufactures refrigeration equipment. The Company produces and sells energy efficient air conditioners, train and laboratory air conditioners, and cooling equipment. Nanjing Canatal Data-Centre Environmental Tech markets its products throughout China.

Nanjing Canatal Data-Centre Environmental Tech (603912 CH)

Nanjing Canatal Data-Centre Environmental Tech

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Nanjing Canatal Data-Centre Environmental Tech (603912 CH)

Analogue Holdings (1977 HK): Lift-Off!

This is a small-cap company with big ambitions, together with strong corporate governance. I think there is easily 50% upside from here or a HK$3+...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)