Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 15 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Thoughts on Amazon –What Does Its Valuation Tells Us?

Netflix & Amazon Expand in Korea – Not a Coincidence

Okja: The Fight Between Netflix Vs. CJ CGV

Kelusa Asia Focus Funds

Equity Bottom-Up

<p>2015 saw a reasonably large scale M&amp;A when China Grand launched a deal for a 75% stake in Baoxin Auto.  I believe we still have at least another acquisition if not two on the cards from China Grand in order for it to successfully satisfy its profit guarantee.</p><p>Even though we have seen a very sharp recent share price correction of 35% the valuations of China Grand at 24x FY15 and 17x FY16 are still conducive for accretive acquisitions of H share listed auto dealerships.</p>

2015 saw a reasonably large scale M&amp;A when China Grand launched a deal for a 75% stake in Baoxin Auto.  I believe we still have at least another acquisition if not two on the cards from China Grand in order for it to successfully satisfy its profit guarantee.Even though we have seen a very sharp recent share price correction of 35% the valuations of China Grand at 24x FY15 and 17x FY16 are still conducive for accretive acquisitions of H share listed auto dealerships.

China Yongda Automobile Services Hldg (3669 HK)

China Zhengtong Auto Services Hldg (1728 HK)

China Grand Automotive Services (600297 CH)

Grand Baoxin Auto

2016: More China Auto Dealer M&A?