Quality-first, Business-perspective Strategy, Urbem (HK) Limited

Steven Chen

Quality-first, Business-perspective Strategy

Equity Bottom-Up

Perfect Medical Health / Equity Bottom-Up

<ul>
<li>Perfect Shape: founder consistently increased his stake; management appears confident in expansion initiatives;</li>
<li>Hermes International: APAC has been gaining greater significance, as expected;</li>
<li>A2 Milk: more than half of the company is functioning brilliantly for shareholders; I presume a short-term glitch for the remaining.</li>
</ul>


Perfect Shape: founder consistently increased his stake; management appears confident in expansion initiatives;
Hermes International: APAC has been gaining greater significance, as expected;
A2 Milk: more than half of the company is functioning brilliantly for shareholders; I presume a short-term glitch for the remaining.


Recent Updates: Perfect Shape, Hermes Int'l, A2 Milk

Global Special Situations & Strategy, SR Services Ltd

David Lepper

Global Special Situations & Strategy

SR Services Ltd

SR Services provides Strategic Knowledge and Solutions services for Family Offices and Corporate Business. 

We deliver this via advisory services, strategic planning, opportunity analysis/sourcing, as well as solution implementation. 

Whilst, we create intellectual discipline and operational leverage for your projects or daily activities, our ultimate objective is to empower whilst enhancing your decision making. 

Strategic Knowledge and Solutions

Cross Asset Strategy

<p>Growth as a style has been the “norm” for years, is the “norm” about to end? The continued strategies by Central Bank’s towards a “<em>lower for longer stance around interest rates</em>”, extended the underperformance of value for most of 2020. However, with the value/growth investment style ratio at 20-year lows, we present 27 names which hold characteristics worthy of further review. </p>

Growth as a style has been the “norm” for years, is the “norm” about to end? The continued strategies by Central Bank’s towards a “lower for longer stance around interest rates”, extended the underperformance of value for most of 2020. However, with the value/growth investment style ratio at 20-year lows, we present 27 names which hold characteristics worthy of further review. 

Screening the Silk Road: Q1 2021 All Cap Screening - Free Cashflow (FCF)

Beijing Tong Ren Tang Chinese Medicine / Equity Bottom-Up

<ul>
<li>We tend to avoid turnarounds as they seldom turn;</li>
<li>But Beijing Tong Ren Tang Chinese Medicine can be a rare case in our opinion;</li>
<li>We see the company as being a wide-moat compounding machine, highly hopeful of delivering superior returns on capital when its business condition normalizes (sooner or later);</li>
<li>Simultaneously, the valuation of the share makes sense for alpha-seeking investors with a double-digit hurdle rate.</li>
</ul>


We tend to avoid turnarounds as they seldom turn;
But Beijing Tong Ren Tang Chinese Medicine can be a rare case in our opinion;
We see the company as being a wide-moat compounding machine, highly hopeful of delivering superior returns on capital when its business condition normalizes (sooner or later);
Simultaneously, the valuation of the share makes sense for alpha-seeking investors with a double-digit hurdle rate.


Beijing Tong Ren Tang Chinese Medicine: A Turnaround Worth A Look

<ul>
<li>Perfect Shape's interim results are largely as expected;</li>
<li>The business still maintains a robust financial position throughout the pandemic;</li>
<li>While the recovery is hopeful but still uncertain, the management is looking to take advantage of any downturn to widen the competitive gap.</li>
</ul>


Perfect Shape's interim results are largely as expected;
The business still maintains a robust financial position throughout the pandemic;
While the recovery is hopeful but still uncertain, the management is looking to take advantage of any downturn to widen the competitive gap.


Perfect Shape: Our Takeaways From H1 Results

<ul class="">
<li>No company is perfect from an investing perspective, with Perfect Shape being no exception;</li>
<li>Meanwhile, there is a lot that long-term, quality-focused investors like us can like about the stock;</li>
<li>In particular, skillful capital allocation, promising growth prospects, a track record of outperforming competitors, and an attractive valuation can together lead to a long-term alpha opportunity with a margin of safety.</li>
</ul>


No company is perfect from an investing perspective, with Perfect Shape being no exception;
Meanwhile, there is a lot that long-term, quality-focused investors like us can like about the stock;
In particular, skillful capital allocation, promising growth prospects, a track record of outperforming competitors, and an attractive valuation can together lead to a long-term alpha opportunity with a margin of safety.


Perfect Shape Is Not Perfect But Here Is What We Like About It

Hong Kong

Perfect Medical Health Management (previously Perfect Shape Medical Limited) offers slimming and beauty treatments. The Company provides fat softens and dissolves services, laser freckle services, and other services. Perfect Shape Medical offers services in China.

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Perfect Medical Health (1830 HK)

Recent Updates: Perfect Shape, Hermes Int'l, A2 Milk

In this article, let's go through some recent updates from three high-quality businesses in my highly selective investable universe.

Steven Chen

Screening the Silk Road: Q1 2021 All Cap Screening - Free Cashflow (FCF)

With the value/growth investment style ratio at 20-year lows, we present 27 names which hold characteristics worthy of further review.

David Lepper

Beijing Tong Ren Tang Chinese Medicine: A Turnaround Worth A Look

Beijing Tong Ren Tang Chinese Medicine can be a rare turnaround case in our opinion, thanks to its wide moat and compounding capability.

Steven Chen

Perfect Shape: Our Takeaways From H1 Results

While the recovery is hopeful but still uncertain, the management is looking to take advantage of any downturn to widen the competitive gap.

Steven Chen

Perfect Shape Is Not Perfect But Here Is What We Like About It

We think that Perfect Shape offers a long-term alpha opportunity with a margin of safety at the current level, even after a nearly 30% rally in the...

Steven Chen

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