In today’s briefing:
- Plover Bay 1523 HK Earnings Preview: Strong H1 FY24, Rerating to Continue
- Dickson Concepts (113 HK): 38% Discount to NCAV, 8.6% Dividend Yield, Steady FY24
- EQD | Is the HSI Correction Going to Continue? (Yes, For 1-2 Weeks)
Plover Bay 1523 HK Earnings Preview: Strong H1 FY24, Rerating to Continue
- We expect strong 30-35% YoY earnings growth in Plover Bay Technologies (1523 HK) for its earnings to be released in July for H1 FY24.
- We expect the company to continue its 80% dividend payout ratio, which will result in a 4% semi-annual yield (8% annualized).
- Trading at 12.2x with >50% ROEs and net cash of >30 mn USD, we expect the strong results to catalyze a further multiple rerate.
Dickson Concepts (113 HK): 38% Discount to NCAV, 8.6% Dividend Yield, Steady FY24
- Dickson Concepts Intl (113 HK) reported earnings growth of 39% YoY, led mostly by an increase in interest income on the 9.6 HKD/share of net cash/investments on the balance sheet.
- The company’s net current asset value (NCAV) expanded to 8.2 HKD/share (Vs. FY23: 7.6 HKD/share), and with the stock at 5.2 HKD/share, it trades at a 37% discount to NCAV.
- The dividend was increased to 45 cents ( from FY23:35 cents/share), placing the stock at an attractive dividend yield of 8.6%.
EQD | Is the HSI Correction Going to Continue? (Yes, For 1-2 Weeks)
- The Hang Seng Index correction has restarted this week, after a brief 1-week bounce.
- The index may continue to downtrend for another 1-2 weeks, then a reversal should come and the uptrend should restart.
- Look at the price support area in the 17500-17000 range, because that is where my model indicates the highest chance of LONG reversal.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
