Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

Riedel provides equity research and analysis to leading financial organizations. By becoming members of a region (Asia, Latin America, Emerging Europe or Global), organizations have access to an integrated set of services including:

Regular company coverage reports
Up-to-date investment decision advice (buy, hold, sell)
Monthly regional and global conference calls
Customized company reports and unlimited on-line access to the program's services.

Riedel provides research coverage of companies across the full range of market capitalization. Experienced research professionals in each market develop company reports and analysis as well as earnings models and projections. Ratings are Buy, Hold and Sell with a focus on compelling investment ideas - both long and short. Downloadable, dynamic earnings models are built to facilitate sensitivity analysis.

Please feel free to contact us for complimentary access to our written research.  We want to show you that our unique research flow can add value and help develop a long-term, high value-add relationship.

Riedel's model focuses on providing clients with unique insights and consulting in addition to unlimited access to all produced research This model allows members to receive exponential benefits for their retainer fees.

Thematic (Sector/Industry)

Following a ‘risk-on’ rally early in the early part of last week global stocks dropped going into Friday on concerns that a series of key events later this month may stress the global economy and financial markets.At the center of these concerns is the uncertainty surrounding the potential for the UK to exit the European Union (Brexit). On June 23rd voters will decide whether Britain will leave or remain in the European Union. Concerns over a possible Brexit surged on Friday following the release of a poll from the Independent showing increasing support for a Brexit, with 55% vote to ‘leave’ against a 45% vote to ‘remain’.Further fueling uncertainty is the US Feds upcoming FOMC meeting set to take place on June 15th. While the Fed is not expected to hike rates in June (the implied probability of a June rate hike is currently just 2%) , investors are very concerned that a surprise hike could trigger volatility across global financial markets.Our proprietary indicators continue to indicate the global economy is strong enough to withstand a potential shock stemming from a surprise rate hike in the US or a Brexit.

Following a ‘risk-on’ rally early in the early part of last week global stocks dropped going into Friday on concerns that a series of key events later this month may stress the global economy and financial markets.At the center of these concerns is the uncertainty surrounding the potential for the UK to exit the European Union (Brexit). On June 23rd voters will decide whether Britain will leave or remain in the European Union. Concerns over a possible Brexit surged on Friday following the release of a poll from the Independent showing increasing support for a Brexit, with 55% vote to ‘leave’ against a 45% vote to ‘remain’.Further fueling uncertainty is the US Feds upcoming FOMC meeting set to take place on June 15th. While the Fed is not expected to hike rates in June (the implied probability of a June rate hike is currently just 2%) , investors are very concerned that a surprise hike could trigger volatility across global financial markets.Our proprietary indicators continue to indicate the global economy is strong enough to withstand a potential shock stemming from a surprise rate hike in the US or a Brexit.

Anxiety Over Brexit Surges While Key Economic Data Continue to Improve

Kemp Dolliver, CFA

Cherrystone Hill Research

Event-Driven

IKang Healthcare Group (ADR) / Event-Driven

Meinian Onehealth has withdrawn its US$25/ADS bid to acquire iKang (announcement to the Shenzhen exchange attached), leaving Alibaba-backed Yunfeng Capital's US$20-25/ADS bid as the only offer on the table.  With the shares trading at US$19.57, the biggest risk is a final bid at the low end of the range (the "meh" in our title) combined with the length of the timetable for closing the deal.  There are strong arguments for a final bid in the upper half of the offer range, but we cannot ignore the…

Meinian Onehealth has withdrawn its US$25/ADS bid to acquire iKang (announcement to the Shenzhen exchange attached), leaving Alibaba-backed Yunfeng Capital's US$20-25/ADS bid as the only offer on the table.  With the shares trading at US$19.57, the biggest risk is a final bid at the low end of the range (the "meh" in our title) combined with the length of the timetable for closing the deal.  There are strong arguments for a final bid in the upper half of the offer range, but we cannot ignore the…

It's Alibaba's Game Now: "Meh" Is Possible

The bidding group organized by Chairman Zhang filed an amended Form 13-D today (attached) disclosing the withdrawal of his US$17.80/ADS offer to take the company private (letter on page 12 of the attachment).In light of the new offer from Yunfeng Capital and the company's relationship with Alibaba (a significant client), we speculate that Chairman Zhang will throw in his lot with Yunfeng (particularly given his resistance to the Meinian Onehealth offer).The shares retreated 5% today on this…

The bidding group organized by Chairman Zhang filed an amended Form 13-D today (attached) disclosing the withdrawal of his US$17.80/ADS offer to take the company private (letter on page 12 of the attachment).In light of the new offer from Yunfeng Capital and the company's relationship with Alibaba (a significant client), we speculate that Chairman Zhang will throw in his lot with Yunfeng (particularly given his resistance to the Meinian Onehealth offer).The shares retreated 5% today on this…

iKang announced the receipt of a non-binding offer US$20-25/ADS cash from PE firm Yunfeng Capital. The offer tops Chairman Zhang's offer of US$17.80/ADS, and "ties" with Meinian Onehealth's US$25/ADS offer.  The announcement and offer letter are attached, so we will focus on several brief highlights:<ol><li>Valuation -- The letter notes that the offer values the company at an EV/EBITDA multiple of 18.5-22.5x. As we have written before, we think that fair value approximates US$25/ADS and that precedent…</li></ol>

iKang announced the receipt of a non-binding offer US$20-25/ADS cash from PE firm Yunfeng Capital. The offer tops Chairman Zhang's offer of US$17.80/ADS, and "ties" with Meinian Onehealth's US$25/ADS offer.  The announcement and offer letter are attached, so we will focus on several brief highlights:Valuation -- The letter notes that the offer values the company at an EV/EBITDA multiple of 18.5-22.5x. As we have written before, we think that fair value approximates US$25/ADS and that precedent…

A surprisingly poor employment report in the US became the central focus among investors across the globe on Friday. In May the US added just 38,000 jobs, well under the expected 156,000.A poor jobs report has triggered widespread concerns that a weak external environment is starting to feed through to infect the US economy. These concerns reflect the risk of what we define as a ‘bad de-polarization’ playing out in the global economy.Currently the global economy is extremely polarized (there is a large divergence between the health of the worlds strongest and weakest economies). As the global economy de-polarizes the health of the weakest economies will rise to converge with that of the strongest economies (a good de-polarization) or vice versa.

A surprisingly poor employment report in the US became the central focus among investors across the globe on Friday. In May the US added just 38,000 jobs, well under the expected 156,000.A poor jobs report has triggered widespread concerns that a weak external environment is starting to feed through to infect the US economy. These concerns reflect the risk of what we define as a ‘bad de-polarization’ playing out in the global economy.Currently the global economy is extremely polarized (there is a large divergence between the health of the worlds strongest and weakest economies). As the global economy de-polarizes the health of the weakest economies will rise to converge with that of the strongest economies (a good de-polarization) or vice versa.

Bad Jobs Report Good For Some EMs, Great For Others

China

Meinian Onehealth Healthcare Holdings Co Ltd mainly provides health examination  services.

Meinian Onehealth Healthcare H (002044 CH)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Meinian Onehealth Healthcare H (002044 CH)

Anxiety Over Brexit Surges While Key Economic Data Continue to Improve

Following a ‘risk-on’ rally early in the early part of last week global stocks dropped going into Friday on concerns that a series of key events...

David Riedel

It's Alibaba's Game Now: "Meh" Is Possible

Meinian Onehealth has withdrawn its US$25/ADS bid to acquire iKang (announcement to the Shenzhen exchange attached), leaving Alibaba-backed Yunfeng...

Kemp Dolliver, CFA

Chairman Zhang Drops His Bid

The bidding group organized by Chairman Zhang filed an amended Form 13-D today (attached) disclosing the withdrawal of his US$17.80/ADS offer to...

Kemp Dolliver, CFA

A New Offer: Has Alibaba Switched Sides?

iKang announced the receipt of a non-binding offer US$20-25/ADS cash from PE firm Yunfeng Capital. The offer tops Chairman Zhang's offer of...

Kemp Dolliver, CFA

Bad Jobs Report Good For Some EMs, Great For Others

A surprisingly poor employment report in the US became the central focus among investors across the globe on Friday. In May the US added just...

David Riedel

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)