Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Was on the buyside for 15 years, most recently at a medium-sized boutique asset management firm. I grew up in Europe, went to university in the US and have been living in Singapore for the last 7 years which has given me a broad scope on the world and investing in general.

Consider myself a generalist investor with a preference for small and mid-cap companies and special situations. However, a large cap that has gone temporarily out of favor might also pique my interest. 

My style of investing could be categorized as more of value investor, rather than growth at any cost. Learning from Charlie Munger on the importance of quality of a company has been of tremendous value over the years.I like businesses with real earnings, cash flows, dividends, book value and insider ownership.

Insight Provider

China Meidong (1268 HK): Confirms Optimistic View of 2017

China Meidong (1268 HK): Stellar 1H17 Results

China Meidong (1268 HK): Stock +110% in Last 4 Months; Bull Case Valuation Reached

Meidong H1 2016 :  Not Exciting, But The Catalysts and Value Is Still There

Meidong: The Next China Auto Dealer to Be Acquired?

Value-focused bottom-up Asian equity research

NVB Asia Pte Ltd

Equity Bottom-Up

<ul><li>China Meidong is a car distributor in China's Tier 3/4 cities with 34 stores at end of 2016</li><li>What started with distribution of Toyota/Lexus has evolved into focus on Porsche and BMW</li><li>Company still trading below IPO price of 1.8 HKD (listed on HKex since December 2013)</li><li>New BMW 5-series launch and store expansion should produce strong 2017 results</li><li>Management led by MIT graduate Ye Tao and his brother Ye Fan, who jointly own 69% of company</li><li>Shares trading at 6.75x 2017 P/E and offer 5.8% dividend yield</li><li>Fair Value: 1.9 HKD (bear case) 24% upside; 2.53 HKD (base case) 65% upside; 3.17 HKD (bull case) 107% upside</li></ul>

China Meidong is a car distributor in China's Tier 3/4 cities with 34 stores at end of 2016What started with distribution of Toyota/Lexus has evolved into focus on Porsche and BMWCompany still trading below IPO price of 1.8 HKD (listed on HKex since December 2013)New BMW 5-series launch and store expansion should produce strong 2017 resultsManagement led by MIT graduate Ye Tao and his brother Ye Fan, who jointly own 69% of companyShares trading at 6.75x 2017 P/E and offer 5.8% dividend yieldFair Value: 1.9 HKD (bear case) 24% upside; 2.53 HKD (base case) 65% upside; 3.17 HKD (bull case) 107% upside

China Yongda Automobile Services Hldg (3669 HK)

China Zhengtong Auto Services Hldg (1728 HK)

China Meidong (1268 HK): MIT Graduate Leading Car Distributor to Success in China's Tier 3/4 Cities

China MeiDong Auto

China Meidong (1268 HK): MIT Graduate Leading Car Distributor to Success in China's Tier 3/4 Cities