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Max87

    • Max87Max87
      ·11-28
      $CHINA EDU GROUP(00839)$ Latest announcement on Inside Information with regards to write down incurred on intangible related to University in Australia, Sichuan up to the tune of ~RMB 1.5b (rough figure) resulted in the lowest earnings in history of the group. Management says that it amounts to a hit of ~5% on group's total asset. That's to say Book will reduce by 5% in value. Current pricing trades @  P/B : 0.6; meaning to say this ratio will be adjusted upwards to 0.63; imo, well-discounted taken into account the info provided by the announcement. Why do I say this? A quick glance into the recently published annual report reveals some of the key assumptions in estimating the value of the cash generating units (CGU); Discount rat
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    • Max87Max87
      ·11-15
      $Alibaba(BABA)$  after going through the webcast, judging from available info without analyzing further the statements, this quarter is a confirmation that Baba is no longer growing it's most profitable core segment that has been the growth + cash cow. Digital commerce supposedly grew ~16% & Baba grew 1.4% (GMV not reported) while JD grew 5.1%. Baba will grow & fall together with it's merchants however it seems like merchants were undercut by PDD & Shared with JD Kuaishou & Bytedance. Moving forward, Baba will have to depend on growth from yet to be profitable business, eg. AIDC, CLOUD AI. however both business is an ant compare to their core e-commerce rev & profit margins. Also not profitable yet. Unless they d
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    • Max87Max87
      ·11-15
      Bl00dy Xi

      Ant Group's quarterly profit nearly triples

      Ant Group's quarterly profit nearly triples SHANGHAI, Nov 15 - China's Ant Group reported a 192.9% rise in net profit to 7.59 billion yuan in the three months to March 31, according to Reuters calculations based on Alibaba Group Holdings' 9988.HK earnings released on Friday.The e-commerce giant reports profit from Ant one quarter in arrears.The near tripling of Ant Group's profit from a year earlier was largely due to a 7.07 billion yuan fine levied on the group a year earlier by the Chinese government for violating laws concerning consumer protection and corporate governance, ending a years-long regulatory overhaul of the fintech company.Both groups were co-founded by Chinese billionaire Jack Ma and Alibaba holds a 33% stake in Ant.
      Ant Group's quarterly profit nearly triples
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    • Max87Max87
      ·11-15
      He's hedging Xi's du^^b brains 

      Michael Burry Boosts China Stakes But With Cautious Hedges

      Michael Burry, the hedge fund manager famous for his 2008 bet against the US housing market, further increased his exposures in China stocks including Alibaba Group Holdings Ltd. in the third quarter as Beijing rolled out a stimulus blitz, but also added new bearish options that would provide downside protection.
      Michael Burry Boosts China Stakes But With Cautious Hedges
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    • Max87Max87
      ·10-08
      $CHINA EDU GROUP(00839)$ Today's NDRC Press briefing underwhelmed international investors however, one thing they overlooked especially for domestic education sector is the lowering of loan rates for student; coupled with Xi's calls to boost domestic education & NDRC acknowledgement of a structural mismatch in the job market & talent; would boost further student enrollment for years to come especially for courses related to the so-called new productive forces industries. 🥂 
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    • Max87Max87
      ·10-08
      $BABA-W(09988)$  Thoughts on NDRC Press Briefing: Market seems to be disappointed with the plans announced on RMB100B 💰 to local government for fiscal spending + balance RMB290B for project construction. Indeed for a USD 17.8Trillion economy, even along with PBOC announcement two weeks ago which totalled RMB 1.45 Trillion excluding adding asset swap program for brokerage & insurance comp etc. is less than 1% of GDP.  However, I believed market overlooked minute details that was announced by regulators : 1) Issuance of $$ vouchers to low income group & cash voucher to support milk consumption trend - big change in Chinese gov approach which signalled they are aware of the deflation trend... Which comes to
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    • Max87Max87
      ·10-04
      $Coursera, Inc.(COUR)$ Food for thoughts 🤔; Both Cour & Udemy is trying to catch the corporate employee reskilling trend towards incorporation of AI into their daily routine & improve productivity. Both pursue a different path :  1) Cour : due to the pedigree of it's founder Andrew Ng, AI legend, they've provided a framework for corporate to structure their reskilling program. CEO Jeff said "corporates today are figuring out how they want to go Abt it." In recent webcast. 2) Ude : During a recent quarterly webcast, Greg (CEO) shares that, "we're in deep discussion with C'suites to co-create a corporate AI reskilling program that suit individual company needs".  In your opinion, who'll get the largest pie of the massive corp
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    • Max87Max87
      ·10-04
      $HENLIUS(02696)$ #Privatisation Increasingly, this issue's take private bid by it's parent company, Fosun looks unfavorable to be voted through by it's shareholders due to a sudden index wide upwards revaluation. Coupled with a turnaround in earnings in recent quarter & the delay in getting necessary approvals from gov institution, it reduced likelihood & certainty of it going through. 
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    • Max87Max87
      ·10-04
      $BABA-W(09988)$  Something worth noting here on HK common vs US ADR's. Base on calculation, for the same price per share, HK commons typically valued at a +2.8698% premium compare to US ADR's. You might think if that's the case, why buy in HK? The reason, massive 30% withholding tax on dividends for foreign person in the US. This law greatly tilt the favor towards HK common. Now looking at it, it seems cheaper already to purchase HK common. Happy weekend 😁 #ADRvsHK
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    • Max87Max87
      ·10-04
      $Alibaba(BABA)$ This analysis tells us that : "Management can't promise you what price the market is going to price them at tomorrow; however what it can do for you is taking care of your interest by sharing more of their earnings & always keeping you in mind."
      @Max87：
      $Alibaba(BABA)$ Base on this Share Repurchase Update (Oct 2nd), it's pretty clear that management has repurchased 353 mln ADRs (for a whoppin...USD 27.6Billion!!?) corresponds to 13.66% outstanding shares on a non-dilutive count since Dec'22 quarter which coincides with 2 years duration since start of share repurchase program. Simple calculation would tell you that, your stake in the company would've grown in aggregate 15.82% over the past 2 years. Taking the USD 4B in dividends issued this year, total shareholder returns would total USD31.6B. If you held the shares on June 13th at closing price USD75.68/share, a USD1.66/share dividend equates to 2.19%. Therefore, Baba has returned 18.01% to her loyal shareholder over the pas
      $Alibaba(BABA)$ Base on this Share Repurchase Update (Oct 2nd), it's pretty clear that management has repurchased 353 mln ADRs (for a whoppin...USD 27.6Billion!!?) corresponds to 13.66% outstanding shares on a non-dilutive count since Dec'22 quarter which coincides with 2 years duration since start of share repurchase program. Simple calculation would tell you that, your stake in the company would've grown in aggregate 15.82% over the past 2 years. Taking the USD 4B in dividends issued this year, total shareholder returns would total USD31.6B. If you held the shares on June 13th at closing price USD75.68/share, a USD1.66/share dividend equates to 2.19%. Therefore, Baba has returned 18.01% to her loyal shareholder over the pas
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