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

BMW Reports Q1 - Implied Brilliance JV Numbers Not Great

Baoxin:  Sales? Check. Signatures? Easy. SAFE? Hmmm... Deal In Danger? Maybe.

Baoxin Pre-Conditions Remaining: SAFE, Sales? And Signatures

Kelusa Asia Focus Funds

Equity Bottom-Up

China Yongda Automobile Services Hldg / Equity Bottom-Up

China Yongda Automobile Services Hldg (3669 HK)

<p>This is not a negative BMW or Brilliance insight.  This is a positive dealership insight. Having said that with a 10%-15% volume growth expectation for FY16 and 720 million RMB number approximately posted  Q1 2016, Brilliance are behind the eight ball for the 3.7 bn RMB profit expected by the street and will clearly receive downgrades. ( Company had 10% volume growth in Q1 2016 clearly implying margin erosion ) </p><p>My point here is margin erosion for Brilliance in the short term is not such a bad…</p>

This is not a negative BMW or Brilliance insight.  This is a positive dealership insight. Having said that with a 10%-15% volume growth expectation for FY16 and 720 million RMB number approximately posted  Q1 2016, Brilliance are behind the eight ball for the 3.7 bn RMB profit expected by the street and will clearly receive downgrades. ( Company had 10% volume growth in Q1 2016 clearly implying margin erosion ) My point here is margin erosion for Brilliance in the short term is not such a bad…

BMW Q1 Implications : Chinese Dealers Getting Rebates ?