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

1373 HK: Value Play 8x PE, Dividend Yield ~10%, 20% of Mkt Cap in Cash

International Housewares Retail Co Ltd (1373 HK) - Weak End to FY23, Q1 FY24 Improving

International Housewares Retail Company Limited (1373 HK): H1 FY24 Off To a Bad Start

Investics Research

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 Research

Equity Bottom-Up

International Housewares Retail / Equity Bottom-Up

International Housewares Retail (1373 HK)

<ul>
<li>FY24 marked a new low in earnings for <a href="https://www.smartkarma.com/entities/international-housewares-retail-co-ltd" target="_blank" data-smartkarma-citation="entities:4546:1" rel="noopener">International Housewares Retail (1373 HK)</a>, with core earnings falling 38% YoY to 101 mn HKD, placing it at 8.8x PE trailing.</li>
<li>Management continues to maintain an 80% payout, placing the stock at a ~9% dividend yield. It has more than 300 mn HKD of net cash (34% of Mkt cap).</li>
<li>The stock has been decimated and is down 63% from its peak in 2021. Earnings inflection looks around the corner. </li>
</ul>


FY24 marked a new low in earnings for International Housewares Retail (1373 HK), with core earnings falling 38% YoY to 101 mn HKD, placing it at 8.8x PE trailing.
Management continues to maintain an 80% payout, placing the stock at a ~9% dividend yield. It has more than 300 mn HKD of net cash (34% of Mkt cap).
The stock has been decimated and is down 63% from its peak in 2021. Earnings inflection looks around the corner. 


International Housewares Retail (1373 HK): Inflection Point In Earnings, 8.8x PE, 9% Div Yield