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

Water Oasis (1161 HK): Dividend Cut As Company Gets Conservative

Perfect Medical (1830 HK) H1 FY25 Earnings: Resilient Yield Despite Weak HK Sentiment

Water Oasis 1161 HK: Gone Ex-Dividend, Trading at 7.5x PE FY24 and an 11% Dividend Yield

Perfect Medical (1830 HK): Gleanings from the Annual Report and Presentation For FY24

Perfect Medical (1830 HK): Resilient FY24 And 12.5% Trailing Dividend Yield

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

<ul>
<li>Headline profit numbers for FY24 indicate a 38-40% decline from 110 mn HKD in FY23 to 65-69 mn HKD, including non-cash impairment/property revaluation losses amounting to 44.2 mn HKD. </li>
<li>The implication is that core profits would have been 109-113 mn HKD for FY24; a slight earnings growth at the upper end is admirable in a weak HK demand environment.</li>
<li>Based on core earnings, the stock trades at 6x PE, &gt;67% of the market capitalization in cash, and a 10% dividend yield. The company will release earnings on December 16th.</li>
</ul>


Headline profit numbers for FY24 indicate a 38-40% decline from 110 mn HKD in FY23 to 65-69 mn HKD, including non-cash impairment/property revaluation losses amounting to 44.2 mn HKD. 
The implication is that core profits would have been 109-113 mn HKD for FY24; a slight earnings growth at the upper end is admirable in a weak HK demand environment.
Based on core earnings, the stock trades at 6x PE, &gt;67% of the market capitalization in cash, and a 10% dividend yield. The company will release earnings on December 16th.


Parsing The Water Oasis (1161 HK) FY24 Profit Warning: Ex-One Offs Indicate Flat To Slight Growth