Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Bottom-Up

<ul>
<li>We compile our selection of companies across Japan,China &amp;India based on bottom-up triggers in each company post their recent quarterly/half yearly results and their guidance for remaining of the year.</li>
<li>In Japan its <a href="https://www.smartkarma.com/entities/rohm-co-ltd" target="_blank" data-smartkarma-citation="entities:2953:1" rel="noopener">ROHM Co Ltd (6963 JP)</a>,<a href="https://www.smartkarma.com/entities/suzuki-motor-corp" target="_blank" data-smartkarma-citation="entities:732:1" rel="noopener">Suzuki Motor (7269 JP)</a> &amp; <a href="https://www.smartkarma.com/entities/mazda-motor-corp" target="_blank" data-smartkarma-citation="entities:20528:1" rel="noopener">Mazda Motor (7261 JP)</a>. In China its <a href="https://www.smartkarma.com/entities/chow-tai-fook-jewellery-group-limited" target="_blank" data-smartkarma-citation="entities:549:1" rel="noopener">Chow Tai Fook Jewellery (1929 HK)</a> &amp; <a href="https://www.smartkarma.com/entities/midea-group-co-ltd-class-h" target="_blank" data-smartkarma-citation="entities:43993:1" rel="noopener">Midea Group (300 HK)</a>.</li>
<li>In India its a mix of recently listed - <a href="https://www.smartkarma.com/entities/milky-mist-dairy-food-limited" target="_blank" data-smartkarma-citation="entities:45604:1" rel="noopener">Milky Mist Dairy Food (1231D IN)</a>, <a href="https://www.smartkarma.com/entities/lalithaa-jewellery-mart-limited" target="_blank" data-smartkarma-citation="entities:56011:1" rel="noopener">Lalithaa Jewellery (LALITHAA IN)</a> , Holdco - <a href="https://www.smartkarma.com/entities/tvs-holdings-limited" target="_blank" data-smartkarma-citation="entities:16591:1" rel="noopener">TVS (TVSHLTD IN)</a> and select Auto OEs</li>
</ul>


We compile our selection of companies across Japan,China &amp;India based on bottom-up triggers in each company post their recent quarterly/half yearly results and their guidance for remaining of the year.
In Japan its ROHM Co Ltd (6963 JP),Suzuki Motor (7269 JP) &amp; Mazda Motor (7261 JP). In China its Chow Tai Fook Jewellery (1929 HK) &amp; Midea Group (300 HK).
In India its a mix of recently listed - Milky Mist Dairy Food (1231D IN), Lalithaa Jewellery (LALITHAA IN) , Holdco - TVS (TVSHLTD IN) and select Auto OEs


Shortlist of High-Conviction Ideas Across Japan, China & India – August 2026 (Post-Results)

<ul>
<li>
<strong>No Fireworks:</strong> In this insight we discuss about <a href="https://www.smartkarma.com/entities/haier-smart-home-co-ltd-class-h" target="_blank" data-smartkarma-citation="entities:31105:1" rel="noopener">Haier Smart Home (6690 HK)</a> 's H1 FY2026 financial performance and why there were no fireworks.</li>
<li>
<strong>Searching for Growth Everywhere : </strong>Given the weak demand in its domestic market, the company is searching for growth in every geography globally.</li>
<li>Finally, we discuss and conclude our view on H2FY2026 performance of the company.</li>
</ul>



No Fireworks: In this insight we discuss about Haier Smart Home (6690 HK) 's H1 FY2026 financial performance and why there were no fireworks.

Searching for Growth Everywhere : Given the weak demand in its domestic market, the company is searching for growth in every geography globally.
Finally, we discuss and conclude our view on H2FY2026 performance of the company.


Haier Smart Home (6690 HK): No Fireworks for Now; Searching for Growth Everywhere

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>JD/BABA/2618.HK/6690.HK/000333.SH/000651.SH/1810.HK: Some cities have begun to roll out “Trade Old in for New” home appliance  subsidies (+)</li>
<li>700 HK: Source suggested that &lt;Black Myth: Wukong&gt; will commence pre-sales on Tencent's WeGame platform on May 19th.(+)</li>
<li>SHEIN: SHEIN launches support for self-operating 3P merchants in Europe (+)</li>
</ul>


JD/BABA/2618.HK/6690.HK/000333.SH/000651.SH/1810.HK: Some cities have begun to roll out “Trade Old in for New” home appliance  subsidies (+)
700 HK: Source suggested that &lt;Black Myth: Wukong&gt; will commence pre-sales on Tencent's WeGame platform on May 19th.(+)
SHEIN: SHEIN launches support for self-operating 3P merchants in Europe (+)


[Blue Lotus Daily - TMT Update]:JD US/BABA US/2618 HK/6690 HK/000333 SH/000651 SH/1810HK/700HK/SHEIN

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

<ul>
<li>In our February 6, 2023 EM Strategy, we discussed that we were buyers of the MSCI EM (EEM-US) on a pullback to the 50-day MA. </li>
<li>The pullback went a bit deeper but managed to hold at our $37.50 line-in-the-sand which we discussed in our recent ETF Pathfinder reports (Mar. 6 and Mar. 20, 2023).</li>
<li>The EEM-US displays a bullish 2-month downtrend reversal- add exposure. Signs continue to point to a topping DXY, and a declining DXY has historically resulted in EM outperformance (vs. EAFE).</li>
</ul>


In our February 6, 2023 EM Strategy, we discussed that we were buyers of the MSCI EM (EEM-US) on a pullback to the 50-day MA. 
The pullback went a bit deeper but managed to hold at our $37.50 line-in-the-sand which we discussed in our recent ETF Pathfinder reports (Mar. 6 and Mar. 20, 2023).
The EEM-US displays a bullish 2-month downtrend reversal- add exposure. Signs continue to point to a topping DXY, and a declining DXY has historically resulted in EM outperformance (vs. EAFE).


MSCI EM $EEM 2-Month Downtrend Reversal at Support -- Add Exposure. Upgrading Taiwan to Overweight

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>The growth in China A-Share exposure has slowed as we approach full ownership across the EM active fund universe.</li>
<li>China A-Share allocations have remained solid throughout this year’s volatility and heavy country rotation.</li>
<li>Midea Group, Kweichow Moutai and Contemporary Amperex Technology remain the most widely held stocks, but others are starting to make their mark.</li>
</ul>


The growth in China A-Share exposure has slowed as we approach full ownership across the EM active fund universe.
China A-Share allocations have remained solid throughout this year’s volatility and heavy country rotation.
Midea Group, Kweichow Moutai and Contemporary Amperex Technology remain the most widely held stocks, but others are starting to make their mark.


China A-Share Deep Dive:  Growth Slows, but EM Funds Remain Well Invested

China

Gree Electric Appliances, Inc. of Zhuhai manufactures and sells a series of air conditioners.  The different series of air conditioners include window type, split type, floor type, mobile type, mobile split type and ceiling type.  The Company also produces air purifier.

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Gree Electric Appliances (000651 CH)

Shortlist of High-Conviction Ideas Across Japan, China & India – August 2026 (Post-Results)

Among the companies mentioned here, Milky Mist reported out of the court results for Q1. The stock is up 20% in last two days post results. Also...

Sreemant Dudhoria

Haier Smart Home (6690 HK): No Fireworks for Now; Searching for Growth Everywhere

Why Haier's H1FY2026 performance had no fireworks and will its search for growth across globe help? We conclude with our view on H2FY2026 performance.

Sreemant Dudhoria

[Blue Lotus Daily - TMT Update]:JD US/BABA US/2618 HK/6690 HK/000333 SH/000651 SH/1810HK/700HK/SHEIN

Some cities begun to roll out “Trade Old in for New” subsidies. will commence pre-sales on Tencent's WeGame on May.SHEIN launches support for self...

Blue Lotus Research Institute

MSCI EM $EEM 2-Month Downtrend Reversal at Support -- Add Exposure. Upgrading Taiwan to Overweight

Signs continue to point to a topping $DXY, and a declining DXY has historically resulted in EM outperformance (vs. $EAFE). Many ideas in China/Hong...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Shortlist of High-Conviction Ideas Across Japan, China & India – August 2026 (Post-Results)

Among the companies mentioned here, Milky Mist reported out of the court results for Q1. The stock is up 20% in last two days post results. Also...

Sreemant Dudhoria

Haier Smart Home (6690 HK): No Fireworks for Now; Searching for Growth Everywhere

Why Haier's H1FY2026 performance had no fireworks and will its search for growth across globe help? We conclude with our view on H2FY2026 performance.

Sreemant Dudhoria

[Blue Lotus Daily - TMT Update]:JD US/BABA US/2618 HK/6690 HK/000333 SH/000651 SH/1810HK/700HK/SHEIN

Some cities begun to roll out “Trade Old in for New” subsidies. will commence pre-sales on Tencent's WeGame on May.SHEIN launches support for self...

Blue Lotus Research Institute

MSCI EM $EEM 2-Month Downtrend Reversal at Support -- Add Exposure. Upgrading Taiwan to Overweight

Signs continue to point to a topping $DXY, and a declining DXY has historically resulted in EM outperformance (vs. $EAFE). Many ideas in China/Hong...

Vermilion Research

China A-Share Deep Dive: Growth Slows, but EM Funds Remain Well Invested

China A-Share exposure has seen tremendous growth over the last decade, yet the rate of ownership growth has slowed this year. In this piece we...

Steven Holden