Good morning!
New portfolio transactions:
23.08.2021 +1000 KWG (5.94 HKD)
26.08.2021 +839 KWG (6.51 HKD)
27.08.2021 +775 Redsun (4.67 HKD)
08/27/2021 -1000 Zhenro (SELL, 4.94 HKD)
08/27/2021 +17 Zynex ($13.4494)
08/27/2021 -8 Cargurus (SELL, 28.95 $)
Closed position (1000 stocks) Zhenro Services Group, with a small profit of 5%, bought Redsun in return. With approximately the same current cash flows, Zhenro is, for example, 1.5 times more expensive than Times. Redsun has excellent prospects in terms of profit growth for the next 2-3 years, so I added these stocks instead.
In general, all of Hong Kong reported for the past six months, in general everything is in accordance with analysts' forecasts, I will give only a brief summary of EPS for the main positions in the format: EPS for 2020; current EPS for the last 12 months, taking into account results for 1H 2021; 2021 EPS forecast;
9928 (Times): 0.25; 0.3; 0.4 - Growth +20% over six months, year-on-year we expect +60%. Current PE = 13.1.
1971 (Redsun): 0.2; 0.26; 0.38 - Growth +30% over six months, year-on-year we expect +90%. Current PE = 14.9.
3913 (KWG): 0.19; 0.27; 0.34 - Growth +42% over six months, year-on-year we expect +79%. Current PE = 19.2. According to KWG, in addition to the result slightly higher than the forecast values, I will note a decent increase in profit margin - for 20 year = 21.3%, current value = 24.8%
(all values in CNY)
According to other reports: Tinkoff reported for six months, they showed a decent increase in revenue, in terms of net profit they added 25% and this is only for six months. Baozun has very weak results - stagnating revenue and falling net profit; you need to wait for the results for the year and decide whether to hold it in the portfolio. So far the company is very disappointing.
I also closed a trial position (8 stocks) in Cargurus with a small profit, the company’s prospects are not particularly clear, plus the CEO regularly dumps small blocks of stocks. It is likely that it may grow, but for me the prospects for Zynex taken instead are much more clear.
Current portfolio in Intelinvest (reduced leverage a little, now ~300k) - https://intelinvest.ru/public-portfolio/210131
Distribution of stocks in %
1) TCS - 22% (+1.2%)
2) KWG – 14.4% (+3.1%)
3) Redsun - 12.1% (+2%)
4) Times – 11.35% (-1.65%)
5) Zynex - 9.49% (-0.31%)
6) Yandex - 9% (+1.4%)
7) Baozun - 7.9% (-0.9%)
8) HHR – 2.56%
9) Baidu - 2.1% (-0.2%)
9) Apple - 1.98% (+0.06%)
10) Aoyuan - 1.84% (-0.25%)
Reports
September 3, 2021