Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

Riedel provides equity research and analysis to leading financial organizations. By becoming members of a region (Asia, Latin America, Emerging Europe or Global), organizations have access to an integrated set of services including:

Regular company coverage reports
Up-to-date investment decision advice (buy, hold, sell)
Monthly regional and global conference calls
Customized company reports and unlimited on-line access to the program's services.

Riedel provides research coverage of companies across the full range of market capitalization. Experienced research professionals in each market develop company reports and analysis as well as earnings models and projections. Ratings are Buy, Hold and Sell with a focus on compelling investment ideas - both long and short. Downloadable, dynamic earnings models are built to facilitate sensitivity analysis.

Please feel free to contact us for complimentary access to our written research.  We want to show you that our unique research flow can add value and help develop a long-term, high value-add relationship.

Riedel's model focuses on providing clients with unique insights and consulting in addition to unlimited access to all produced research This model allows members to receive exponential benefits for their retainer fees.

Thematic (Sector/Industry)

CSI Deteriorates in May On Policy Uncertainty <ul>
<li>In May the MNI China Consumer Sentiment Indicator (CSI) dropped to a level of 114.2, below the key threshold of 116 separating rationally pessimistic consumers from panicking consumers. </li>
<li>
Deterioration in the CSI during May stems from growing uncertainty over the future path of China’s monetary policy. As the urgent need for deleveraging has become apparent a mysterious article published by an anonymous 'authoritative figure' in the People's Daily…</li>
</ul>

CSI Deteriorates in May On Policy Uncertainty 
In May the MNI China Consumer Sentiment Indicator (CSI) dropped to a level of 114.2, below the key threshold of 116 separating rationally pessimistic consumers from panicking consumers. 

Deterioration in the CSI during May stems from growing uncertainty over the future path of China’s monetary policy. As the urgent need for deleveraging has become apparent a mysterious article published by an anonymous 'authoritative figure' in the People's Daily…


China Consumer Sentiment Snapshot - Urgent Need for Deleveraging Becomes Apparent

China Macroeconomics & Academia

Christopher Balding

Despite the promise of online retailing and its rapid growth, there are worrying signs that point to either a coming slowdown, data discrepancies, or unsustainable shifts in consumer behavior.  Though it is too soon to say for sure, what is happening, the warning signs are there.

Despite the promise of online retailing and its rapid growth, there are worrying signs that point to either a coming slowdown, data discrepancies, or unsustainable shifts in consumer behavior.  Though it is too soon to say for sure, what is happening, the warning signs are there.

<ol><li>Given the available data, we believe it indicates that Chinese consumer growth remains positive but significantly weaker than headline official numbers indicate.</li><li>Large retailers appear to be suffering near zero growth across a variety of products.</li><li>Online retailing is still growing rapidly but its rate of growth is slowing and remains responsible for only 10.6% of spending.</li><li>Due to the weakness in large retailers and strong but small market share of online retailers, this leaves only small and medium size retailers as driving official retail sales numbers. We find this a dubious conclusion.</li><li>The combined retail sales and physical output of consumer product data implies that retail and consumer spending is growing much closer to the 3-6% range than the official 11% retail sales growth.</li><li>Related services like transport and hotel is showing significant weakness that is more reflective of an overall weak retail and services sector.</li></ol>

Given the available data, we believe it indicates that Chinese consumer growth remains positive but significantly weaker than headline official numbers indicate.Large retailers appear to be suffering near zero growth across a variety of products.Online retailing is still growing rapidly but its rate of growth is slowing and remains responsible for only 10.6% of spending.Due to the weakness in large retailers and strong but small market share of online retailers, this leaves only small and medium size retailers as driving official retail sales numbers. We find this a dubious conclusion.The combined retail sales and physical output of consumer product data implies that retail and consumer spending is growing much closer to the 3-6% range than the official 11% retail sales growth.Related services like transport and hotel is showing significant weakness that is more reflective of an overall weak retail and services sector.

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

We pointed it out in our previous notes <a href="https://www.smartkarma.com/insights/are-korean-tourism-stocks-inbound-bottoming" target="_blank" data-smartkarma-citation="insights:2664">Are Korean Tourism Stocks (Inbound) Bottoming?</a> and <a href="https://www.smartkarma.com/insights/2016-year-of-visit-to-korea" target="_blank" data-smartkarma-citation="insights:2422">2016 - “Year of Visit to Korea”</a> that the major inbound tourism stocks including <a href="https://www.smartkarma.com/entities/14940" target="_blank" data-smartkarma-citation="entities:14940">Paradise Co Ltd</a> , <a href="https://www.smartkarma.com/entities/107" target="_blank" data-smartkarma-citation="entities:107">Hotel Shilla Co Ltd</a> , and <a href="https://www.smartkarma.com/entities/16341" target="_blank" data-smartkarma-citation="entities:16341">Grand Korea Leisure Co Ltd</a> may be bottoming out and ready to turn the corner. The major driving force is the inbound Chinese tourists and their willingness to spend in Korea.The major Korean department stores had an outstanding same store sales results in this February, which is…

We pointed it out in our previous notes Are Korean Tourism Stocks (Inbound) Bottoming? and 2016 - “Year of Visit to Korea” that the major inbound tourism stocks including Paradise Co Ltd , Hotel Shilla Co Ltd , and Grand Korea Leisure Co Ltd may be bottoming out and ready to turn the corner. The major driving force is the inbound Chinese tourists and their willingness to spend in Korea.The major Korean department stores had an outstanding same store sales results in this February, which is…

"Korea Grand Sale" Driving Up Department Store Sales

Global Macro Strategy

Callum Henderson

Macroeconomics

* The CNY is becoming a basket currency and greater basket currency flexibility is likely this year* The PBoC monetary policy report stated that two-way flexibility of the CNY will increase* This appears to be in line with calls from former PBoC advisers for a basket currency with wide bands* Reduced Fed hike expectations take some pressure off CNY vs. USD, allowing it to weaken vs. EUR, JPY* CNY basket flexibility and band widening is likely by Q3, before SDR implementation in OctoberIn my…

* The CNY is becoming a basket currency and greater basket currency flexibility is likely this year* The PBoC monetary policy report stated that two-way flexibility of the CNY will increase* This appears to be in line with calls from former PBoC advisers for a basket currency with wide bands* Reduced Fed hike expectations take some pressure off CNY vs. USD, allowing it to weaken vs. EUR, JPY* CNY basket flexibility and band widening is likely by Q3, before SDR implementation in OctoberIn my…

China

Northern United Publishing & Media (Group) Co., Ltd. publishes books, distributes magazines, and prints commercial receipts. The Company produces kid books such as coloring books and reading books, bibliographic, and teen age book. The Company uses single paper-base media.

Northern United Publishing&Md(Grp) (601999 CH)

Zhejiang Talent Television & Film Co., Ltd. partakes in the investment, production, promotion, and distribution of both Chinese domestic and imported films.

DuZhe Publishing & Media Company Limited is a book publisher.

GuangZhou JinYi Media Corporation offers movie screening services. The Company provides movie tickets sales, film information consultation, advertising, and other related services. GuangZhou JinYi Media also offers catering services. GuangZhou JinYi Media operates in China.

Evergrande Auto researches, develops, and manufactures new energy vehicles. The Company engages in vehicle manufacturing, electric motor control, power batteries, vehicle sales, smart charging, shared mobility, and more. Evergrande Auto also operates health management businesses.

Poly Culture Group Corp Ltd is a culture and art enterprise in China. The Company provides performance and large-scale activities, organization and planning, creative design production, theatre management and construction consultation, cultural relics collections, artwork business and auction, cinema circuit and cinema investment operations in China.

Huawen Media Investment Corporation invests in media and culture industries. It also trades building materials, undertakes highway construction projects, and distributes and sells natural gas and liquefied petroleum gas. The Company also constructs pipeline distribution systems, and provides related services.

Jishi Media Company Limited constructs, manages and maintains cable television networks. The Company's main businesses include basic radio and television transmission services, digital television value-added services, two-way interactive broadband services, and cable-based network services.

Tangel Publishing Co Ltd plans, designs, produces and publishes juvenile books. The Company publishes juvenile literature in 3 categories, including the academic supplementary materials, English language learning materials and children's literature. The Company also engages in publishing periodicals.

Inly Media Co., Ltd. provides strategy consulting and media agency services. The Company engages in content marketing, brand management and advertising services.

IMAX China Holding, Inc. operates as a holding company. The Company, through its subsidiaries, broadcasts movies in theaters. IMAX China Holding serves customers in China.

Astro Malaysia Holdings Bhd is a Malaysian investment holding media and entertainment company.

Avex Inc. operates entertainment businesses. The Company provides music production, live communication management, artist training, content creation, and other services. Avex offers services in Japan.

PROTO CORPORATION provides information about new and pre-owned cars, motorcycles, and parts through magazines and the Internet.  The Company also provides information such as restaurants, golf courses, and ski resorts.  Proto Corp's Web site allows its users to research automobile pricing and insurance.

Intage Holdings Inc provides marketing research services, marketing system solutions, and consulting services.

ZIGExN Co Ltd develops and operates the internet media platforms called EX Sites that consolidate information from multiple media and submit user's request to multiple media in one access.

Dish TV India Ltd. offers direct broadcast satellite subscription television service in India.

Cashbox Partyworld Co. Ltd. operates private karaoke rooms throughout Taiwan and China. The Company rents rooms equipped with karaoke machines and audio systems for fees.

MPS Ltd. is a publisher of school and college textbooks, reference books, general non-fiction titles and atlases.  The Company also has an online learning division that develops and manages educational portals.  MPS's information processing division supplies typesetting and data digitization services.

Taiwan Optical Platform Co., Ltd. provides a range of telecommunication services. The Company's services include Internet broadband access service, online gaming, E-learning, VoIP service, wireless broadband service, DVB and VoD, community E-commerce, remote security monitoring, and triple-play residential services.

Songliao Automobile Company, Ltd. manufactures and markets vans and auto body parts. The Company sells its products in northeastern China.

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

Songliao Automobile Co A (600715 CH)

China Consumer Sentiment Snapshot - Urgent Need for Deleveraging Becomes Apparent

CSI Deteriorates in May On Policy Uncertainty In May the MNI China Consumer Sentiment Indicator (CSI) dropped to a level of 114.2, below the key...

David Riedel

The State of Online Retailing in China

Despite the promise of online retailing and its rapid growth, there are worrying signs that point to either a coming slowdown, data discrepancies,...

Christopher Balding

Retail and Consumer Activity in China

Given the available data, we believe it indicates that Chinese consumer growth remains positive but significantly weaker than headline official...

Christopher Balding

"Korea Grand Sale" Driving Up Department Store Sales

We pointed it out in our previous notes Are Korean Tourism Stocks (Inbound) Bottoming? and 2016 - “Year of Visit to Korea” that the major inbound...

Douglas Kim

CNY Band Widening Likely by Q3

* The CNY is becoming a basket currency and greater basket currency flexibility is likely this year* The PBoC monetary policy report stated that...

Callum Henderson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)