A China-weighted reading list this week. Highlights include a look at the online-to-offline shift in Chinese retail, an interview with Ctrip’s CEO Jane Jie Sun and a profile of Chinese boulangerie chain Wedomé. Also, Peter Tasker on why Japanese small cap stocks deserve more attention and the FT’s lunch with Jean-Claude Juncker. Grocery wars: Alibaba and JD.com are moving […]
Farallon Adds To Luzheng Futures
Farallon Capital (Farallon) recently added to their stake in HK-listed Luzheng Futures (Luzheng). According to a filing made to the Hong Kong Stock Exchange on March 17th, 2017, the firm purchased 499,000 shares on the exchange at an average price of HKD 1.743 per share on March 15th (total consideration was ~US$112,000). Following the purchase, Farallon’s stake in Luzheng […]
David Webb Buys More Kingmaker
David Webb recently added to his stake in HK-listed Kingmaker Footwear Holdings (Kingmaker). According to a filing made to the Hong Kong Stock Exchange on March 20th, 2017, he purchased 50,000 shares on the exchange at an average price of HKD 2.08 per share on March 15th (total consideration was ~US$13k). Following the purchase, Webb’s stake in Kingmaker […]
Li Lu’s 2015 Speech at Peking University
In October 2015, value investor Li Lu spoke to students at Peking University’s Guanghua School of Management on the prospects for value investing in China. He is the founder of Himalaya Capital, which manages a fund that focuses on public securities and privately held companies in both Asia and North America. Berkshire Hathaway vice-chairman Charlie Munger is an […]
Lynas Capital: Value, Growth, Quality
Lynas Capital (Lynas) is an independent fund manager based in Hong Kong. The firm was established by David Devine in 2002. He initially managed a private pilot fund for two years before launching the Lynas Asia Fund. Prior to founding Lynas, Devine was with Overlook Investments for ten years. For more on Overlook, you can see my post here. Devine’s twenty […]
Readings For The Week (19/3)
This week’s readings include Neal Cross of DBS on the truths and myths about fintech, Jardine Matheson’s preliminary announcement of its 2016 results, Arisaig’s February letter, Jeff Towson on how Alibaba is disrupting Chinese entertainment and Kishore Mahbubani on the Asean miracle. The fintech files: Neal Cross of DBS shares three truths and two myths about fintech in […]
Kennox Comments on Texwinca
The Kennox Strategic Value Fund’s 4Q 2016 report included some commentary on Texwinca Holdings (Texwinca). As of the end of February 2017, Texwinca was the fourth largest holding of the fund (~4.1% of the portfolio). Highlights / excerpts are included below. Company overview: Hong Kong listed textile company; core business provides high-end fabrics to global branded clothing […]
Tim Moe Upgrades His China Call
Tim Moe, Goldman’s chief Asia-Pacific strategist, was on Bloomberg recently to discuss the firm’s outlook for the region and the Chinese markets. Some highlights below: Recent upgrade of China is in the context of the overall regional outlook Three key issues likely to be determining equity market performance over the next few quarters First, reflation dynamic is […]
Readings For The Week (11/3)
This week’s readings include Cederberg Capital’s presentation on the China investment opportunity, the Rothschild Investment Trust’s 2016 annual report, Symphony International’s 4Q 2016 update and GGV’s Glenn Solomon on the Snap IPO. Also, a (shameless) plug for my recent write up on Emtek, which a number of readers have already sent me feedback / comments on. Why China […]
Perinvest Comments On China’s Sports Market
James Morton’s January letter is now available on the Perinvest website. One of the fund’s current holdings is 361 Degrees, a leading tier two domestic sportswear brand in China. The letter highlighted some interesting trends in China’s sports industry (some of the data and insights are actually based on a report published by KGI, the Taiwanese broker): China’s sports […]