One year has passed since I started this project. So it is about time to take a step back and review what went well and what did not. Let’s start with the blog. The frequency and quality of posting was not great. I could come up with many excuses why…
A lot of companies have announced their full year earnings in the last few months. I have been updating my own models but never got to actually publishing updates on the companies I have written up before. In the meantime, I have been thinking a lot about how to deal…
Tian Chang Group is a HK-listed Plastics Manufacturing company. In their own words: “We are a well-established provider of integrated plastic solutions in the PRC. For over 17 years, we have specialised in mould design and fabrication services as well as plastic component design and manufacturing services. In recent years,…
In one of the first posts I have done on this blog, I have described my investment framework. (https://exploitingmistermarket.com/2019/08/06/my-investment-framework/) I think it is critical to have a well grounded framework that starts from first principles and that matches a person’s analytical and behavioral traits and keeps them in check. Generally…
Dream International has acquired the Tarpaulin business from C & H. Mr Kyoo Yoon Choi, the controlling shareholder of Dream International holds 61.95% of C & H. So it is a connected transaction. The total consideration is around 125 million HKD. The revenue acquired totals 322 million HKD and 389…
“Lion Rock Group Limited (Lion Rock) is engaged in providing quality printing services to international book publishers, trade, professional and educational conglomerates, print media companies and government departments.” (From the website) The group was founded in 2005 by the Recruit Group as a way of diversifying its business and spun…
I did not find the time to update the website recently. I have been really busy and I have been doing quite a bit of research on one company. In the end I have decided against buying. There were a few corporate governance issues and also a few accounting numbers…
A holding company that owns a bank that owns a bank Dah Sing Financial Group (DSFG) is Hong Kong based, family-led financial services group. DSFG is the holding company for the group’s general insurance, pension fund and banking business. It holds 74.37% of the listed Dah Sing Banking Group (2356…
From the 2018/2019 Annual report Hong Kong Economic Times Holdings Limited (“HKET Holdings” / “the Group”) is a diversified multi-media company. Its core business – publication of the Hong Kong Economic Times (“HKET”) – was established in 1988. It is the leading financial newspaper in Hong Kong, also ranked number…
Dream released its interim earnings for the first half of the year on 26/08/2019. When I did the previous analysis, I ignored the seasonality that Dream exhibits between the first and the second half of the year. To interpret the interim earnings we need to take this seasonality into account.…