Daily Brief Equity Bottom-Up: BYD (1211 HK) 1Q24 Preview: No Concern for Slow Quarter and more

• We believe the revenue growth will be slow in 1Q24, but it will still be rapid for the full year 2024.
• We also believe the operating margin will hit the historical high in 1Q24, but it will be just stable for the year 2024.
• We conclude the stock has an upside of 60% for the year end 2024. Buy.

• A nasty power struggle between ADOR CEO Min Hee-Jin and HYBE has erupted which is likely to continue to negatively impact HYBE’s share price in the next several months.
• ADOR CEO Min Hee-Jin owns an 18% stake in ADOR which was founded in 2021. HYBE owns the controlling 80% stake in ADOR.
• Given the nasty fight between ADOR and HYBE, it is likely that the two companies (including ADOR’s CEO Min Hee-Jin) are likely to part their ways.

• Taiwan Tech Shares Fell Sharply Along With Global Selling — Semiconductor and AI Names Most Exposed
• What Is TSMC Telling Us About Semi Supply Chain Stories at Its Investor Conference? 
• ASE Technology Holding (3711 TT) Wins iPhone 16 System-in-Package Order from Apple (AAPL US)

• In 1Q24, Xiaomi and Transsion shipments grew rapidly, while Samsung Electronics (005930 KS) and Apple (AAPL US) shrank.
• Tims China’s revenue expanded with new openings, which is encouraging in the competitive market.
• In China, Tesla fired salespeople who had served the company for less than six months.

• The story of Hero is the story of persistence, collaboration and achieving goals that many would have regarded as impossible.
• From its humble roots of selling bicycles in 1956 Ludhiana Punjab, to becoming the world’s largest two wheeler company is an extraordinary feat.

• Maintaining the momentum, protecting its market share and setting sights towards ‘Future of Mobility’ is something special.

• CapitaLand is a real estate investment manager with funds under management of c.S$100b and core markets being Singapore, China and India
• They reported solid FY2023 results earlier this year.  Singapore and India are showing strong market outlook while China struggles.
• Valuation is attractive with >50% upside and we view there are multiple catalysts ahead

• Mr. Yashish Dahiya is an impatient man. In one of the interviews with The Ken, he narrated a story of how while in college he used to run home to Noida every Friday and back to college on a Monday morning (both 30kms in one direction) as he found public buses too slow for his liking.
• Mr. Dahiya, is also persistent and doesn’t give up easy – he is one of the few people in the world who has completed the grueling Ironman triathlon – an intense race that consists of swimming, bicycle ride and a marathon all raced in that order – widely considered one of the most difficult one-day sporting events in the world.
• It’s these qualities of impatience, persistence and continuously improving oneself that can be found in the business of PolicyBazaar or PBFinTech, the name of the parent company applying for IPO.

Key points

• VFC is a large apparel company with iconic brands such as The North Face and Vans
• Shares are currently undervalued following a disappointing FY23, with estimated fair value of $40/share
• Strong brands and opportunities for portfolio rationalization and margin improvement make VFC a potential growth opportunity with new management in place.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Multiple tests over multiple zones in multiple horizons were run at the Mopane-1X exploration well.
• The flows achieved during the well test reached the maximum allowed limits of 14 mboe/d.
• The flow rate was constrained by the size of the available surface facilities.

• eBay has the potential to become a trillion-dollar AI powerhouse in e-commerce
• Offers anti-inflationary savings and eliminates fraud risks
• Seen as undervalued with high growth potential compared to Amazon

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.