In today’s briefing:
- BABA’s Babies: They’re All Grown Now! Weibo the Twitter of China
- Lalatech Refiles for IPO: Further Improvement in Profitability
- China Property: Sentiment Likely To Improve; Prefer Ever Sunshine Services (1995 HK)
BABA’s Babies: They’re All Grown Now! Weibo the Twitter of China
- Weibo (9898 HK) is an inexpensive profitable large social media company in China
- Weibo generates a large cash flow which it uses to pay a 9% dividend yield
- Weibo has synergies with Alibaba’s core e-commerce business and fits well within its other media company ecosystem
Lalatech Refiles for IPO: Further Improvement in Profitability
- Lalatech Holdings Co Ltd (LALA HK) , a technology driven logistics transportation platform has refiled for IPO in April and this insight focuses on data points from the latest filing.
- The company has disclosed full-year 2023 results which shows significant improvement to the company’s financials, particularly Lalatech’s profitability.
- Lalatech has continued to cutdown its operating costs, which has helped reach profits, and the company has managed to maintain growth despite spending cuts on incentives and promotions.
China Property: Sentiment Likely To Improve; Prefer Ever Sunshine Services (1995 HK)
- In the Politburo meeting this week, China announced the intention to stabilize the property market and improve housing inventory. Following the meeting, Beijing announced a relaxation of home purchase restrictions.
- Given the extreme pessimism on China property, good opportunities exist for select quality companies in the China property space, especially in property management.
- One name I would like to highlight is CIFI Ever Sunshine Services Gr (1995 HK), a non-SOE property management company with a good reputation in terms of execution.
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