Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/insights/hk-listed-apparel-footwear-screener-right-stocks-listed-in-the-wrong-market-attractive-yield-rapid-expansion-outside-china-sep-2024" target="_blank" data-smartkarma-citation="insights:158210" rel="noopener">HK-Listed Apparel &amp; Footwear Screener: Right Stocks Listed in the Wrong Market</a><a href="https://www.smartkarma.com/insights/hk-listed-apparel-footwear-screener-right-stocks-listed-in-the-wrong-market-attractive-yield-rapid-expansion-outside-china-sep-2024" target="_blank" rel="noopener">—Attractive Yield &amp; Rapid Expansion Outside China—Sep 2024</a> helped us screen out great names.</li>
<li>
<a href="https://www.smartkarma.com/entities/nameson-holdings-ltd" target="_blank" rel="noopener">Nameson Holdings (1982 HK)</a>, a knitwear supplier that trades at 4.5x PE, is net cash (considering investments) and has a 17% dividend yield, is one of them. </li>
<li>We find this name attractive, and the yield can be sustainable as it shifts its supply base from China to Vietnam. Hence, we initiate with a detailed write-up. </li>
</ul>



HK-Listed Apparel &amp; Footwear Screener: Right Stocks Listed in the Wrong Market—Attractive Yield &amp; Rapid Expansion Outside China—Sep 2024 helped us screen out great names.

Nameson Holdings (1982 HK), a knitwear supplier that trades at 4.5x PE, is net cash (considering investments) and has a 17% dividend yield, is one of them. 
We find this name attractive, and the yield can be sustainable as it shifts its supply base from China to Vietnam. Hence, we initiate with a detailed write-up. 


Nameson Holdings (1982 HK): 17% Dividend Yield Can Be Sustained and Improved Long-Term

<ul>
<li>We met with <a href="https://www.smartkarma.com/entities/jnby-design-ltd" target="_blank" data-smartkarma-citation="entities:23642:1" rel="noopener">JNBY Design Ltd (3306 HK)</a>, <a href="https://www.smartkarma.com/entities/lever-style-corporation" target="_blank" data-smartkarma-citation="entities:35760:1" rel="noopener">Lever Style (1346 HK)</a>, and <a href="https://www.smartkarma.com/entities/nameson-holdings-ltd" target="_blank" data-smartkarma-citation="entities:22670:1" rel="noopener">Nameson Holdings (1982 HK)</a> in HK. Positive developments in the businesses make them all names to explore.</li>
<li>With a 50% tariff imposed on India by the US, Vietnam's factories have now become the busiest in the region, which is a positive read-through for <a href="https://www.smartkarma.com/entities/nameson-holdings-ltd" target="_blank" data-smartkarma-citation="entities:22670:1" rel="noopener">Nameson Holdings (1982 HK)</a> </li>
<li>The retail environment, though, is mixed with <a href="https://www.smartkarma.com/entities/jnby-design-ltd" target="_blank" data-smartkarma-citation="entities:23642:1" rel="noopener">JNBY Design Ltd (3306 HK)</a>, seeing good sales momentum, while <a href="https://www.smartkarma.com/entities/lever-style-corporation" target="_blank" data-smartkarma-citation="entities:35760:1" rel="noopener">Lever Style (1346 HK)</a> remains flattish. </li>
</ul>


We met with JNBY Design Ltd (3306 HK), Lever Style (1346 HK), and Nameson Holdings (1982 HK) in HK. Positive developments in the businesses make them all names to explore.
With a 50% tariff imposed on India by the US, Vietnam's factories have now become the busiest in the region, which is a positive read-through for Nameson Holdings (1982 HK) 
The retail environment, though, is mixed with JNBY Design Ltd (3306 HK), seeing good sales momentum, while Lever Style (1346 HK) remains flattish. 


HK-Listed Apparel & Footwear Screener Oct 2025: HK Meetings With JNBY, Leverstyle, and Nameson

<ul>
<li>Tariff confusion has hit stocks, but the names in focus continue to be resilient as they pass on the costs, and the future impact of demand is to be determined. </li>
<li>The investing world is now searching for stocks that are not directly affected by Trump tariffs. <a href="https://www.smartkarma.com/entities/lever-style-corporation" target="_blank" data-smartkarma-citation="entities:35760:1" rel="noopener">Lever Style (1346 HK)</a> is one such stock trading at 7.2x trailing PE.</li>
<li>With a trailing dividend yield of 6.2%, net cash of 27% of market cap, and impressive metrics on growth, this is a stock worth exploring. </li>
</ul>


Tariff confusion has hit stocks, but the names in focus continue to be resilient as they pass on the costs, and the future impact of demand is to be determined. 
The investing world is now searching for stocks that are not directly affected by Trump tariffs. Lever Style (1346 HK) is one such stock trading at 7.2x trailing PE.
With a trailing dividend yield of 6.2%, net cash of 27% of market cap, and impressive metrics on growth, this is a stock worth exploring. 


HK-Listed Apparel & Footwear Screener Aug 2025: Lever Style (1346 HK) Conference Call

<ul>
<li>We provide result updates for <a href="https://www.smartkarma.com/entities/jnby-design-ltd" target="_blank" rel="noopener">JNBY Design Ltd (3306 HK)</a> and <a href="https://www.smartkarma.com/entities/lever-style-corporation" target="_blank" rel="noopener">Lever Style (1346 HK). </a>Separately, <a target="_blank">Crystal International (2232 HK)</a> was added to the HSCI (eligible for trading on Stock Connect).</li>
<li>We introduce <a href="https://www.smartkarma.com/entities/bosideng-international-holdings-ltd" target="_blank" rel="noopener">Bosideng International Holdings (3998 HK)</a> on our screen. With a 5-year average ROCE of 17%, net cash, and a 7% dividend yield, the stock is worth a look.</li>
<li>Our top picks include <a href="https://www.smartkarma.com/entities/jnby-design-ltd" target="_blank" data-smartkarma-citation="entities:23642:1" rel="noopener">JNBY Design Ltd (3306 HK)</a> and <a href="https://www.smartkarma.com/entities/pacific-textiles-holdings" target="_blank" data-smartkarma-citation="entities:12638:1" rel="noopener">Pacific Textiles (1382 HK)</a>, with a favorable mention of <a href="https://www.smartkarma.com/entities/nameson-holdings-ltd" target="_blank" data-smartkarma-citation="entities:22670:1" rel="noopener">Nameson Holdings (1982 HK)</a>  due to its attractive dividend yield.</li>
</ul>


We provide result updates for JNBY Design Ltd (3306 HK) and Lever Style (1346 HK). Separately, Crystal International (2232 HK) was added to the HSCI (eligible for trading on Stock Connect).
We introduce Bosideng International Holdings (3998 HK) on our screen. With a 5-year average ROCE of 17%, net cash, and a 7% dividend yield, the stock is worth a look.
Our top picks include JNBY Design Ltd (3306 HK) and Pacific Textiles (1382 HK), with a favorable mention of Nameson Holdings (1982 HK)  due to its attractive dividend yield.


HK-Listed Apparel & Footwear Screener: March 2025 / Analysing JNBY, Leverstyle, And More

<ul>
<li>Our stock screen for textile/apparel companies listed in Hong Kong for FY24 summarizes the winners and losers. </li>
<li>
<a href="https://www.smartkarma.com/entities/yue-yuen-industrial-holdings-limited" target="_blank" data-smartkarma-citation="entities:12281:1" rel="noopener">Yue Yuen Industrial Holdings (551 HK)</a> / <a href="https://www.smartkarma.com/entities/jnby-design-ltd" target="_blank" data-smartkarma-citation="entities:23642:1" rel="noopener">JNBY Design Ltd (3306 HK)</a> and <a href="https://www.smartkarma.com/entities/stella-international" target="_blank" data-smartkarma-citation="entities:7610:1" rel="noopener">Stella International (1836 HK)</a> were the three best performers with returns of over 80% YTD.</li>
<li>We continue to be bullish on <a href="https://www.smartkarma.com/entities/jnby-design-ltd" target="_blank" data-smartkarma-citation="entities:23642:1" rel="noopener">JNBY Design Ltd (3306 HK)</a> / <a href="https://www.smartkarma.com/entities/pacific-textiles-holdings" target="_blank" data-smartkarma-citation="entities:12638:1" rel="noopener">Pacific Textiles (1382 HK)</a> and like <a href="https://www.smartkarma.com/entities/nameson-holdings-ltd" target="_blank" data-smartkarma-citation="entities:22670:1" rel="noopener">Nameson Holdings (1982 HK)</a> for its rich dividend yield.</li>
</ul>


Our stock screen for textile/apparel companies listed in Hong Kong for FY24 summarizes the winners and losers. 

Yue Yuen Industrial Holdings (551 HK) / JNBY Design Ltd (3306 HK) and Stella International (1836 HK) were the three best performers with returns of over 80% YTD.
We continue to be bullish on JNBY Design Ltd (3306 HK) / Pacific Textiles (1382 HK) and like Nameson Holdings (1982 HK) for its rich dividend yield.


HK-Listed Apparel & Footwear Screener:  Winners and Losers, Picks For 2025

Hong Kong

Nameson Holdings is a Knitwear manufacturer in PRC

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Nameson Holdings (1982 HK)