Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Cross Asset Strategy

<ul>
<li>In today's uncertain scenario, cash is king. Moreover, the high US treasury yields, which had rendered a dividend yield strategy relatively unattractive, are beginning to decline again.</li>
<li>In addition to considering today's dividend yields, we think it's also imperative to take into account companies' future earnings potential to assess future dividend stability.</li>
<li>Screening companies with at least 6% forward dividend yield and 5% forecast EPS CAGR over next 2 years, we arrive at our basket of 23 dividend yielders, 13 from HK/China.</li>
</ul>


In today's uncertain scenario, cash is king. Moreover, the high US treasury yields, which had rendered a dividend yield strategy relatively unattractive, are beginning to decline again.
In addition to considering today's dividend yields, we think it's also imperative to take into account companies' future earnings potential to assess future dividend stability.
Screening companies with at least 6% forward dividend yield and 5% forecast EPS CAGR over next 2 years, we arrive at our basket of 23 dividend yielders, 13 from HK/China.


Asian Equities: Asia's Robust Dividend Yielders

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

<ul><li>Lawsuits / In Depth: Why more Chinese companies are getting sued by aggrieved investors</li><li>China-Southeast Asia /Analysis: Why Southeast Asia is becoming a manufacturing hub for Chinese investments</li><li>Travel /: Surge in Chinese overseas tourism set for Lunar New Year</li></ul>

Lawsuits / In Depth: Why more Chinese companies are getting sued by aggrieved investorsChina-Southeast Asia /Analysis: Why Southeast Asia is becoming a manufacturing hub for Chinese investmentsTravel /: Surge in Chinese overseas tourism set for Lunar New Year

CX Daily: Why More Chinese Companies Are Getting Sued by Aggrieved Investors 

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Sep 11th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Bilibili (9626 HK), Tencent (700 HK), Bidu (9888 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Bilibili (9626 HK), Kuaishou (1024 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Sep 11th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Bilibili (9626 HK), Tencent (700 HK), Bidu (9888 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Bilibili (9626 HK), Kuaishou (1024 HK).


Hong Kong Buybacks Weekly (Sep 11th): Bilibili, Tencent, Bidu

HK/China Equity Long-Short

Osbert Tang, CFA

Thematic (Sector/Industry)

<ul>
<li>CSRC's Market Value Management Guidelines will indirectly benefit the H-share stocks with their A-share counterparts with a P/B of below 1x.  </li>
<li>Chinese banks dominated the list with below-book A-shares. <a href="https://www.smartkarma.com/entities/china-everbright-bank-co-ltd" target="_blank" data-smartkarma-citation="entities:16221:1" rel="noopener">China Everbright Bank (6818 HK)</a>, <a href="https://www.smartkarma.com/entities/china-citic-bank-corp-ltd-ea6c25fd-4b20-45cb-a4a6-df7a60136f03" target="_blank" data-smartkarma-citation="entities:653:1" rel="noopener">China Citic Bank H (998 HK)</a>, and <a href="https://www.smartkarma.com/entities/industrial-and-commercial-bank-of-china-limited" target="_blank" data-smartkarma-citation="entities:1119:1" rel="noopener">ICBC (H) (1398 HK)</a> are the prime beneficiaries.</li>
<li>Infrastructure construction companies <a href="https://www.smartkarma.com/entities/china-railway-construction-corp-limited" target="_blank" data-smartkarma-citation="entities:263:1" rel="noopener">China Railway Cons Corp (1186 HK)</a>, <a href="https://www.smartkarma.com/entities/china-railway-group-ltd-h" target="_blank" data-smartkarma-citation="entities:264:1" rel="noopener">China Railway Group H (390 HK)</a>, and <a href="https://www.smartkarma.com/entities/china-communications-construction-co-ltd" target="_blank" data-smartkarma-citation="entities:265:1" rel="noopener">China Comm Cons (1800 HK)</a> are also well-positioned to gain.</li>
</ul>


CSRC's Market Value Management Guidelines will indirectly benefit the H-share stocks with their A-share counterparts with a P/B of below 1x.  
Chinese banks dominated the list with below-book A-shares. China Everbright Bank (6818 HK), China Citic Bank H (998 HK), and ICBC (H) (1398 HK) are the prime beneficiaries.
Infrastructure construction companies China Railway Cons Corp (1186 HK), China Railway Group H (390 HK), and China Comm Cons (1800 HK) are also well-positioned to gain.


China & HK Strategy: Names to Watch for Market Value Management

<ul><li>Trump 2.0 means reboot of aggressive tariff policy toward China</li><li>TSMC suspends shipments of more advanced chips to mainland clients, sources say</li><li>State-owned China COSCO Shipping Corp. Ltd. has opened a new sea-land route that reduces the time it takes to transport goods from China to Europe by one-fifth</li></ul>

Trump 2.0 means reboot of aggressive tariff policy toward ChinaTSMC suspends shipments of more advanced chips to mainland clients, sources sayState-owned China COSCO Shipping Corp. Ltd. has opened a new sea-land route that reduces the time it takes to transport goods from China to Europe by one-fifth

CX Daily: Trump 2.0 Means Reboot of Aggressive Tariff Policy Toward China 

China

COSCO SHIPPING Holdings is a global leader in container shipping and terminal operations, offering maritime container transportation, terminal management, and container leasing services. The company also provides digital supply chain solutions. It was founded on March 3, 2005, and is headquartered in Shanghai, China.

Price Gauge
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COSCO SHIPPING Holdings (1919 HK)

Asian Equities: Asia's Robust Dividend Yielders

In uncertain times, firms distributing cash as dividends are naturally investors' darlings. Screening large caps on min 6% div yield and future...

Manishi Raychaudhuri

CX Daily: Why More Chinese Companies Are Getting Sued by Aggrieved Investors

Lawsuits / In Depth: Why more Chinese companies are getting sued by aggrieved investors Class-action lawsuits against listed companies are popular...

Caixin Global

Hong Kong Buybacks Weekly (Sep 11th): Bilibili, Tencent, Bidu

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Bilibili (9626 HK),...

Ke Yan, CFA, FRM

China & HK Strategy: Names to Watch for Market Value Management

SASAC issued "Several opinions on improving and strengthening the market value management of listed companies controlled by central enterprises"...

Osbert Tang, CFA

CX Daily: Trump 2.0 Means Reboot of Aggressive Tariff Policy Toward China

As the 78-year-old Republican prepares to lead a deeply divided nation, all eyes are on the critical decisions shaping his second-term...

Caixin Global

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Asian Equities: Asia's Robust Dividend Yielders

​In uncertain times, firms distributing cash as dividends are naturally investors' darlings. Screening large caps on min 6% div yield and future...

Manishi Raychaudhuri

CX Daily: Why More Chinese Companies Are Getting Sued by Aggrieved Investors

Lawsuits / In Depth: Why more Chinese companies are getting sued by aggrieved investors Class-action lawsuits against listed companies are popular...

Caixin Global

Hong Kong Buybacks Weekly (Sep 11th): Bilibili, Tencent, Bidu

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Bilibili (9626 HK),...

Ke Yan, CFA, FRM

China & HK Strategy: Names to Watch for Market Value Management

SASAC issued "Several opinions on improving and strengthening the market value management of listed companies controlled by central enterprises"...

Osbert Tang, CFA

CX Daily: Trump 2.0 Means Reboot of Aggressive Tariff Policy Toward China

As the 78-year-old Republican prepares to lead a deeply divided nation, all eyes are on the critical decisions shaping his second-term...

Caixin Global

In uncertain times, firms distributing cash as dividends are naturally investors' darlings. Screening large caps on min 6% div yield and future...