Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Equity Bottom-Up

Theme International Holdings / Equity Bottom-Up

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<li>Commodities trader <strong><a href="https://www.smartkarma.com/entities/theme-international-holdings-limited" target="_blank" data-smartkarma-citation="entities:6413:1" rel="noopener">Theme International Holdings (990 HK)</a></strong> is up 670% since the inset of Covid, and that is after declining 52% from the July 2021 peak.</li>
<li>A sharp increase in iron ore prices since 2020 resulted in FY21 net income of HK$1bn against HK$146mn in FY19. Net cash is currently HK$4.2bn, 38% of Theme's market cap. </li>
<li>You Zhenhua is Theme's largest shareholder. Theme recently acquired a 6.6% stake in You Zhenhua-controlled Esteel, which in turn holds a 61% stake in <strong><a href="https://www.smartkarma.com/entities/brc-asia-ltd" target="_blank" data-smartkarma-citation="entities:11410:1" rel="noopener">BRC Asia Ltd (BRC SP)</a></strong>. </li>
</ul>


Commodities trader Theme International Holdings (990 HK) is up 670% since the inset of Covid, and that is after declining 52% from the July 2021 peak.
A sharp increase in iron ore prices since 2020 resulted in FY21 net income of HK$1bn against HK$146mn in FY19. Net cash is currently HK$4.2bn, 38% of Theme's market cap. 
You Zhenhua is Theme's largest shareholder. Theme recently acquired a 6.6% stake in You Zhenhua-controlled Esteel, which in turn holds a 61% stake in BRC Asia Ltd (BRC SP). 


Theme International Holdings (990 HK): Getting To Know You

China

Newton Resources Ltd. explores for and mines iron ore. The Company owns and operates the Yanjiazhuang mine in the Hebei Province. Newton Resources also seeks to acquire and operate mining assets within the steel supply chain.

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Newton Resources (1231 HK)

Theme International Holdings (990 HK): Getting To Know You

For minority shareholders, it is disappointing when a company chooses to direct surplus funds towards buying a minority stake in an entity...

David Blennerhassett

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