@Kaixiang：The stock that I would recommend is $THAI BEVERAGE PUBLIC CO LTD(Y92.SI)$, better known as ThaiBev. It is one of Southeast Asia'slargest beverage companies with distilleries inThailand, UK and China. While it's famous for its Chang Beer, it has over 50 beer and spirit businesses (e.g. whisky, vodka, gin etc.) Its recent 1H 22 results beat expectations due to faster than expected recovery. 2Q 22 PATMI rose 20% year on year, with a 3-fold recovery in the beer segment as beer volumes jumped 11% year on year. Furthermore, margins have proven to be stable as ThaiBev keeps a good control on its operating expenses. Its operating expenses declined 2.6% year on year despite cost pressure from raw materials. Gross margins remained around 30% which was supported by the price increase and higher volumes. Unfortunately, the revenue for the spirits segment remain flat year on year as spirit volumes rising only 4% year on year. This is significantly smaller compared to the beer segment. Despite the inflationary pressures and less than spectular performance in the spirits segment, one can conservatively expect FY2022 to bea year of recovery from the pandemic lockdowns. With the further normalisation of economicactivities and gradual reopening, this should lift consumption and therefore benefit ThaiBev. As entertainment outlets re-open (hopefully eventually a major re-opening as Thailand follow suit other countries to live with Covid-19), one can see a major boost for the key segments for ThaiBev. ThaiBev stock price is currently at a key resistance level. With more potentially positive catalysts in the coming quarters, one can expect ThaiBev to produce better results and challengeits 52-week high. This is definitely a strong re-opening play to be on your watchlist. [Grin] Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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