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

UMP Healthcare (722 HK) FY24 Results and Concall: 7x FY25PE,1.2x EV-EBITDA and 9% Dividend Yield

UMP Healthcare (722 HK): Deep Value Turnaround in FY25

UMP Healthcare 722 HK: Weak Q4 Lead to A Disappointing FY23, Worst Behind Us

UMP Medical (722 HK): Slow H124, Deep Value, Execution Remains Key

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>The company announced a settlement with its subsidiary of 18 mn HKD. This is material as we estimate that core profit for FY24 (June-end) would be 30-35 mn HKD. </li>
<li>This settlement will be paid in cash (tranches) as it involves<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0708/2024070801013.pdf" target="_blank" rel="noopener"> making the company whole on a </a>vendor's profit guarantee shortfall. It boosts cash and investments &gt;340 mn HKD. </li>
<li>The stock is cheap, with net cash almost equal to the market capitalization, an 11x PE (on core profit), and a 9% dividend yield. </li>
</ul>


The company announced a settlement with its subsidiary of 18 mn HKD. This is material as we estimate that core profit for FY24 (June-end) would be 30-35 mn HKD. 
This settlement will be paid in cash (tranches) as it involves making the company whole on a vendor's profit guarantee shortfall. It boosts cash and investments &gt;340 mn HKD. 
The stock is cheap, with net cash almost equal to the market capitalization, an 11x PE (on core profit), and a 9% dividend yield. 


UMP Healthcare (722 HK): Parsing the Announcement on The Major One-Time Gain