Catalogue

Below is the full catalogue of research reports published. Available to subscribers only. Please see Free Sample Reports for examples or contact us for more information.

Samsung Electronics (005930-KR): Quality Generative AI play, trading at a discount

Alibaba Group (9988-HK): Positive Technical Analysis Signals

Parade Tech (4966-TT): Quality tech, at a discount

TSMC (2330-TT): Revisiting previous bullish themes following outperformance

SK Hynix (000660-KR): Positive Technical Analysis Signals

Prosus (PRX-NA): Profitable growth, Elevated discount

NetEase: Market share winner, supported by buybacks and dividends

Baidu: Priced to fail

HCL Technologies: Negative Technical Analysis Signals 

Vipshop: Net Cash at 40% of Market Cap, now paying dividends and buying back shares 

Indian IT Services: Where are we in the growth cycle?

Global Emerging Markets: Reporting season summary, 1Q2024

NetEase: Positive Technical Analysis Signals

Parade Technologies: Negative Technical Analysis Signals

China Yangtze Power: Negative Technical Analysis Signals

Vipshop: Positive Technical Analysis Signals

Tencent: Positive Technical Analysis Signals

Global Emerging Markets: Reporting season summary, 4Q2023

This proprietary screening model, published monthly, takes a three-pronged approached to finding the best medium-term long and short ideas within the top100 largest stocks in the MSCI GEM Index.

This weekly insight provides a summary of the key news developments impacting the largest countries and constituents of the Global Emerging Markets equity indices. 

TSMC (2330-TT) is perfectly poised for Revenue and FCF growth acceleration 

Prosus: The more things change…

Global Emerging Markets: Reporting season summary, 1Q2023

JD.com: Three key controversies

Global Emerging Markets: Reporting season summary, 4Q2022

Baidu: Undervalued cyclical revenue growth acceleration and margin expansion story

MediaTek: Mid (inventory) cycle, long-term growth story intact, attractive yield and multiples

JD.com to Benefit from Discretionary Spend Recovery, Margin Progress on Track

Indian IT Services: Weakening revenue dynamics, and above-fair valuation levels, keep us side-lined

Vipshop: Rebound in Chinese apparel sales should trump conservative management guidance

Alibaba: Accelerating retail sales, and a depressed comp base, bode well for near-term earnings

Global Emerging Markets: Reporting season summary, 2Q2022

Prosus: 30% discount seems about right

Tencent: Domestic game approvals over-hyped as a revenue growth driver

Prosus: Finally, a Catalyst; Cash Flows, Capital Allocation, Should Limit Drop in Discount to NAV

Baidu: Can AI Cloud and Intelligent Driving save the day as Marketing continues to lose market share?

TSMC: Precariously balanced; robust medium-term earnings outlook and discount valuation levels

Chinese Ecommerce: Chinese retail sales data indicates further near-term weakness

Tencent: Investments up as valuations drop, room for another significant special in specie dividend

Vipshop: With net cash at nearly 50% of market cap, is it a value trap or a takeover target?

JD.com: Can sustained market share gains be transferred into sustained margin progression?

Alibaba Group: Looking through the noise

SK Hynix: Improving global market positioning whilst still trading at discount valuation multiples

Top Three Takeaways: Parade Technologies

Indian IT services: Medium-term outlook unattractive as growth slows, on premium valuation levels

MediaTek, high dividend yield, solid fundamental outlook, strong balance sheet

Xinyi Solar: Short-term headwinds, cash flow concerns, and a premium valuation

Vipshop: Cheapest it has ever been

Parade Technologies: Further revenue growth upgrades, and dividends, should support valuation

Alibaba: How much core market share loss has been priced in?

NetEase/Tencent: Risk of negative games revenue surprises skewed to Tencent, rather than NetEase

Prosus/Naspers: Fundamental drivers of the discount revisited post the exchange offer

Tencent: Investees, the potential for ST earnings miss, and an attractive LT entry point

MediaTek: Results beat, increased guidance, earnings upgrades, and a lower share price

SK Hynix: Leading DRAM IDM, trading at discount multiples, in a strong demand environment

Coway: Transitioning from dividend play to growth stock

MediaTek: High-Quality 5G Beneficiary with a Tremendously Attractive Dividend Yield

Tencent: A closer look at the online games market and its relative strength as revenue growth slows

Indian IT services: Is a multi-year hyper-growth scenario priced in?

JD.com: A detailed look at long-term margins and valuation

Baidu Attractive short term entry point following SEC statement and block sales

LongShort, Alibaba Vipshop, a comparative valuation

Baidu a closer look at Non-marketing Baidu Core, What are we paying for EV

Alibaba A detailed look at the SOTP, and what that tells us about the Ant Group and Core Commerce

Tencent An update on Investees and the implied valuation of consolidated operations

Indian IT services What Justified PE ratios tell us about sustainable growth expectations 

Carsales.com High growth recovery expectations already baked in

Naspers, deeply discounted exposure to accelerating online sales

Tencent Listed associates continue to outperform

Coway Overseas operating leverage kicking in

TSMC a comparative valuation

Indian IT services Valuation and Earnings levels suggest we are nearing the point-of-peak-optimism

Naspers Double discount warranted, The search for a catalyst continues

Baidu Strategies for operating in an industry in decline

Tencent a closer look at investees reveals a discount rating and future value unlock potential

Coway Business model proves resilient, earnings upgrades set to continue

Indian IT services COVID-19 revenue impact troughed, margins remain resilient. Is the recovery already priced in

Chinese digital advertising Best (and worst) plays, in anticipation of the ByteDance IPO

TSMC 5G upgrade cycle already priced in, or could dividend growth support a continued re-rating

Wipro Net cash equal to 24percent of its Market Cap, deep value or a value trap

Indian IT services 4Q FY2020 results overview and valuation update

Coway Update following AGM, revised dividend policy and 1Q2020 results

Tata Consultancy Services Premium at excessive levels, pricing in overly optimistic relative growth

HCL Technologies Doubts over organic growth, eroding returns, drives undeserved discount rating

Coway Uncertainty priced in, a rare entry point to a high quality company