Yeah I should have probably laid out the risks better. b and c I feel comfortable with, and a is why this will never trades higher than 6-7x earnings. I'm probably out at 5x.
JD also posted some great results. The stock is trading almost at the same level as before the news of irregularities a few months ago. I don’t really have a strong opinion about the business itself. The stock looks somewhat cheap here, but there are more interesting bargains to be found. JD also posted some great results. The stock is trading almost at the same level as before the news of irregularities a few months ago. I don’t really have a strong opinion about the business itself. The stock looks somewhat cheap here, but there are more interesting bargains to be found.
how are you getting a 30% yield on Nameson? I see 10.1 cents LTM dividends. All I know about the NTM is that TIKR is telling me is that ebit going from 545m to 551m fy24 to fy25 according to one sellside analyst. Now, a nearly 20% yield is nothing to sneeze at, but just trying to understand you DPS estimate here. Thanks
The interim dividend of HK$0.095 in December was their highest ever
..."in appreciation for our shareholders’ trust and support throughout the challenging times".
With the losses from the Myanmar venture now largely absorbed, it is reasonable to expect a pay out of about 75% of net profits in dividends going forward.
To own Nameson (1982.HK) for its future dividends stream, we have to be comfortable with:
a/ 57% of revenue coming from one customer: Uniqlo.
b/ Knitted sweaters being a apparel staple.
c/ Having the Wong Family Trust controlling 3/4 of the shares.
https://doc.irasia.com/listco/hk/nameson/cpresent/pre231124.pdf
Yeah I should have probably laid out the risks better. b and c I feel comfortable with, and a is why this will never trades higher than 6-7x earnings. I'm probably out at 5x.
Do you mean JD 9618 ? What irregularities?
JD also posted some great results. The stock is trading almost at the same level as before the news of irregularities a few months ago. I don’t really have a strong opinion about the business itself. The stock looks somewhat cheap here, but there are more interesting bargains to be found. JD also posted some great results. The stock is trading almost at the same level as before the news of irregularities a few months ago. I don’t really have a strong opinion about the business itself. The stock looks somewhat cheap here, but there are more interesting bargains to be found.
No DADA, see here my initial mention with some more info:
https://turtles.substack.com/p/two-new-chinese-stocks
JD owns a large stake in DADA, so the two are pretty correlated.
how are you getting a 30% yield on Nameson? I see 10.1 cents LTM dividends. All I know about the NTM is that TIKR is telling me is that ebit going from 545m to 551m fy24 to fy25 according to one sellside analyst. Now, a nearly 20% yield is nothing to sneeze at, but just trying to understand you DPS estimate here. Thanks
I took last 2 dividends paid out:
https://webb-site.com/dbpub/events.asp?i=19661
So 15.5 cents in dividends.
The interim dividend of HK$0.095 in December was their highest ever
..."in appreciation for our shareholders’ trust and support throughout the challenging times".
With the losses from the Myanmar venture now largely absorbed, it is reasonable to expect a pay out of about 75% of net profits in dividends going forward.