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

Yue Yuen Industrial Holdings / Equity Bottom-Up

<ul>
<li>The HK market is moving, and the share prices of high-yield companies are increasing. Despite the average YTD returns of 36%, stocks are trading at 5-16% dividend yields.</li>
<li>We touch upon our initiations <a href="https://www.smartkarma.com/insights/nameson-holdings-1982-hk-17-dividend-yield-can-be-sustained-and-improved-long-term" target="_blank" data-smartkarma-citation="insights:161973" rel="noopener">Nameson Holdings (1982 HK): 17% Dividend Yield Can Be Sustained and Improved Long-Term</a> / <a href="https://www.smartkarma.com/insights/jnby-3306-hk-34-roce-track-record-10-dividend-yield-net-cash-business" target="_blank" data-smartkarma-citation="insights:162204" rel="noopener">JNBY (3306 HK): &gt;34% ROCE Track Record/10% Dividend Yield/Net Cash Business</a>. </li>
<li>We also highlight newsflow from <a href="https://www.smartkarma.com/entities/pacific-textiles-holdings" target="_blank" rel="noopener">Pacific Textiles (1382 HK)</a> on its operational update and <a href="https://www.smartkarma.com/entities/texwinca-holdings-ltd" target="_blank" rel="noopener">Texwinca Holdings' (321 HK)/</a><a href="https://www.smartkarma.com/entities/yue-yuen-industrial-holdings-limited" target="_blank" rel="noopener">Yue Yuen Industrial Holdings' (551 HK)</a> positive profit alert.</li>
</ul>


The HK market is moving, and the share prices of high-yield companies are increasing. Despite the average YTD returns of 36%, stocks are trading at 5-16% dividend yields.
We touch upon our initiations Nameson Holdings (1982 HK): 17% Dividend Yield Can Be Sustained and Improved Long-Term / JNBY (3306 HK): &gt;34% ROCE Track Record/10% Dividend Yield/Net Cash Business. 
We also highlight newsflow from Pacific Textiles (1382 HK) on its operational update and Texwinca Holdings' (321 HK)/Yue Yuen Industrial Holdings' (551 HK) positive profit alert.


HK-Listed Apparel & Footwear Screener:  Attractive Yield & Rapid Expansion Outside China - Nov 2024

<ul>
<li>We review the upcoming results 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><a href="https://www.smartkarma.com/entities/texwinca-holdings-ltd" target="_blank" data-smartkarma-citation="entities:16983:1" rel="noopener">Texwinca Holdings (321 HK)</a>. We also examine <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>, following its negative profit warning.</li>
<li>We 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 13% dividend yield and 6x PE. We like <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> for its &gt;30% ROCE and 7.2% dividend yield. </li>
<li>
<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> 's recent <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2025/1107/2025110700682.pdf?utm_campaign=website&amp;utm_medium=email&amp;utm_source=sendgrid.com%20" target="_blank" rel="noopener">profit warning </a>came as a bit of a surprise but was cushioned by guidance that its factories in Vietnam are currently operating at 80-90% utilization. </li>
</ul>


We review the upcoming results for Nameson Holdings (1982 HK)/Texwinca Holdings (321 HK). We also examine Pacific Textiles (1382 HK), following its negative profit warning.
We like Nameson Holdings (1982 HK) for its 13% dividend yield and 6x PE. We like JNBY Design Ltd (3306 HK) for its &gt;30% ROCE and 7.2% dividend yield. 

Pacific Textiles (1382 HK) 's recent profit warning came as a bit of a surprise but was cushioned by guidance that its factories in Vietnam are currently operating at 80-90% utilization. 


HK-Listed Apparel & Footwear Screener November 2025: Top Picks And Result Reviews

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Thematic (Sector/Industry)

<ul>
<li>President Trump has indicated that he will lower tariffs on ASEAN countries in exchange for future supply commitments of Rare Earth Elements (REEs) to counter China's industry dominance.</li>
<li>Although the supply commitments of REEs to supplant China's production will take years to fulfill, the tariff relief will provide immediate benefits to Chinese textile manufacturers with Southeast Asian production.</li>
<li>
<a href="https://www.smartkarma.com/entities/shenzhou-intl-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:10415:1" rel="noopener">Shenzhou Intl Group Holdings (2313 HK)</a> , <a href="https://www.smartkarma.com/entities/bosideng-international-holdings-ltd" target="_blank" data-smartkarma-citation="entities:6537:1" rel="noopener">Bosideng International Holdings (3998 HK)</a> ,<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> , 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> will benefit from the tariff relief.
</li>
</ul>


President Trump has indicated that he will lower tariffs on ASEAN countries in exchange for future supply commitments of Rare Earth Elements (REEs) to counter China's industry dominance.
Although the supply commitments of REEs to supplant China's production will take years to fulfill, the tariff relief will provide immediate benefits to Chinese textile manufacturers with Southeast Asian production.

Shenzhou Intl Group Holdings (2313 HK) , Bosideng International Holdings (3998 HK) ,Yue Yuen Industrial Holdings (551 HK) , and Stella International (1836 HK) will benefit from the tariff relief.



How Rare Earth Elements Helped China's Textile Companies

<ul>
<li>The August 1st deadline is approaching, and it seems a bit unclear whether a deal with Vietnam has been reached on a 20% tariff or something lower. </li>
<li>With no formal agreement and just Trump's Truth Social account as a reference, uncertainty looms. For HK-listed companies, the understanding is that they will pass on tariffs to their customers. </li>
<li>We summarize this in our call with <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> following the results. We also provide updates for <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 other names. </li>
</ul>


The August 1st deadline is approaching, and it seems a bit unclear whether a deal with Vietnam has been reached on a 20% tariff or something lower. 
With no formal agreement and just Trump's Truth Social account as a reference, uncertainty looms. For HK-listed companies, the understanding is that they will pass on tariffs to their customers. 
We summarize this in our call with Nameson Holdings (1982 HK) following the results. We also provide updates for Pacific Textiles (1382 HK) and other names. 


HK-Listed Apparel & Footwear Screener July 2025: August 1st Deadline Approaches

<ul>
<li>We reviewed <a href="https://www.smartkarma.com/entities/lever-style-corporation" target="_blank" data-smartkarma-citation="entities:35760:1" rel="noopener">Lever Style's (1346 HK)</a>  <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2025/0115/2025011501101.pdf" target="_blank" rel="noopener">positive profit alert</a> and project a final dividend of 7-7.5 cents, an increase from 3 cents per share in H1 FY24.</li>
<li>The overall dividend of 10-10.5 cents indicates a yield over 9%, with positive remarks on new customer additions and increased penetration within the existing customer base.</li>
<li>Our top sector 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 reviewed Lever Style's (1346 HK)  positive profit alert and project a final dividend of 7-7.5 cents, an increase from 3 cents per share in H1 FY24.
The overall dividend of 10-10.5 cents indicates a yield over 9%, with positive remarks on new customer additions and increased penetration within the existing customer base.
Our top sector 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: Parsing Lever Styles (1346 HK) Profit Alert

Hong Kong

Nameson Holdings is a Knitwear manufacturer in PRC

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Nameson Holdings (1982 HK)

HK-Listed Apparel & Footwear Screener: Attractive Yield & Rapid Expansion Outside China - Nov 2024

We compile a list of ten high-yielding/net cash or low-net debt stocks in HK's apparel/footwear value chain. Despite the recent rally in HK,...

Sameer Taneja

HK-Listed Apparel & Footwear Screener November 2025: Top Picks And Result Reviews

We preview the earnings for Texwinca (321 HK) and Nameson (1982 HK), both trading at ~13% dividend yields, with results to be announced this month....

Sameer Taneja

How Rare Earth Elements Helped China's Textile Companies

President Trump will lower tariffs on ASEAN countries in exchange for future supply commitments of Rare Earth Elements (REEs) to counter China's...

David Mudd

HK-Listed Apparel & Footwear Screener July 2025: August 1st Deadline Approaches

Textile Sector Note: Approaching Aug 1 tariff deadline to drive volatility. We see tactical opportunities and risks across our 12-stock coverage...

Sameer Taneja

HK-Listed Apparel & Footwear Screener: Parsing Lever Styles (1346 HK) Profit Alert

We present a list of ten high-yielding, net cash or low-net debt stocks within Hong Kong's apparel and footwear value chain. Despite the recent...

Sameer Taneja

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