Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Thematic (Sector/Industry)

<ul>
<li>The 2023 vintage of "5 High Conviction Ideas" was commodity heavy with 4 of our 5 picks coming from this sector. Three out of five declined between 15-25%. </li>
<li>Our best performer was unloved <a href="https://www.smartkarma.com/entities/mongolian-mining-corp" target="_blank" data-smartkarma-citation="entities:4382:1" rel="noopener">Mongolian Mining (975 HK)</a> which returned 234% even beating <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a> YTD performance.  Miracles happen: Coal mining beats AI.</li>
<li>Our 2024 vintage of top ideas for the year will hopefully have a higher hit ratio. See below for more details which are our five high conviction ideas for 2024.</li>
</ul>


The 2023 vintage of "5 High Conviction Ideas" was commodity heavy with 4 of our 5 picks coming from this sector. Three out of five declined between 15-25%. 
Our best performer was unloved Mongolian Mining (975 HK) which returned 234% even beating NVIDIA Corp (NVDA US) YTD performance.  Miracles happen: Coal mining beats AI.
Our 2024 vintage of top ideas for the year will hopefully have a higher hit ratio. See below for more details which are our five high conviction ideas for 2024.


Overview of My Winners and Losers in 2023...and 5 High Conviction Ideas Going Into 2024

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/playmates-toys-ltd" target="_blank" data-smartkarma-citation="entities:2946:1" rel="noopener">Playmates Toys (869 HK)</a> reported strong 1H23 results on the back of initial demand for TMNT toys. Revenues were up 30% and operating profits increased 3x.</li>
<li>Management remains optimistic for 2H23 on the back of continued excitement for TMNT movie and follow-up series on Paramount+.</li>
<li>Playmates Toys trades at 5x FY23 P/E and &gt;1x P/E on an ex-cash basis. The company also declared another 2c interim dividend.</li>
</ul>



Playmates Toys (869 HK) reported strong 1H23 results on the back of initial demand for TMNT toys. Revenues were up 30% and operating profits increased 3x.
Management remains optimistic for 2H23 on the back of continued excitement for TMNT movie and follow-up series on Paramount+.
Playmates Toys trades at 5x FY23 P/E and &gt;1x P/E on an ex-cash basis. The company also declared another 2c interim dividend.


Playmates Toys: 1H23 Results Show Strong TMNT Potential

<ul>
<li>Teenage Mutant Ninja Turtles: Mutant Mayhem had a smash opening grossing over 50M USD at the box office in its first week of operation.</li>
<li>The box office success de-risks the upside potential for Playmates Toys as successful movies have a high likelihood of driving toy sales.</li>
<li>Paramount+ launching the new TMNT-inspired series will also drive Ninja Turtles' revival even more.</li>
</ul>


Teenage Mutant Ninja Turtles: Mutant Mayhem had a smash opening grossing over 50M USD at the box office in its first week of operation.
The box office success de-risks the upside potential for Playmates Toys as successful movies have a high likelihood of driving toy sales.
Paramount+ launching the new TMNT-inspired series will also drive Ninja Turtles' revival even more.


Playmates Toys: TMNT Movie Grosses 50M+ Global Sales in Opening Week, Toy Sales to Follow

<ul>
<li>Three weeks ahead of the global launch of TMNT Mutant Mayhem momentum is building</li>
<li>Google Trends searches reveal rising interest in both movies and toys</li>
<li>Risk/Reward is still highly attractive, last time a TMNT movie was a success stock hit 4 HKD</li>
</ul>


Three weeks ahead of the global launch of TMNT Mutant Mayhem momentum is building
Google Trends searches reveal rising interest in both movies and toys
Risk/Reward is still highly attractive, last time a TMNT movie was a success stock hit 4 HKD


Playmates Toys: Movie and Toy Reviews TMNT Mutant Mayhem Suggest Big Upside Ahead

<ul>
<li>1983 was the year both TMNT and Mario Bros were created by two different animation studios</li>
<li>Mario Bros latest movie has now grossed $1.3 billion in box office receipts YTD, entering the all-time top-3 of animated movies </li>
<li>TNMT will see its debut in US theatres on the 2nd of August 2023. Will the turtles get the same reception as Mario Bros?</li>
</ul>


1983 was the year both TMNT and Mario Bros were created by two different animation studios
Mario Bros latest movie has now grossed $1.3 billion in box office receipts YTD, entering the all-time top-3 of animated movies 
TNMT will see its debut in US theatres on the 2nd of August 2023. Will the turtles get the same reception as Mario Bros?


Playmates Toys: Mario Bros Movie Surpasses $1.3 Billion in Box Office; TMNT Next?

Hong Kong

Playmates Toys Limited design, develops, markets, and distributes toys. The Company's products include action figures, vehicles, dolls, plush, role play toys and interactive electronic toys.

Playmates Toys (869 HK)

Overview of My Winners and Losers in 2023...and 5 High Conviction Ideas Going Into 2024

Our stand-out performer in FY23 was little loved Mongolia Mining. For FY24 we provide five new names which we think can perform strongly.

Nicolas Van Broekhoven

Playmates Toys: 1H23 Results Show Strong TMNT Potential

1H23 showed strong sales and sharply higher profits on the back of initial TMNT toy shipments. With a new TMNT movie likely and TMNT series coming...

Nicolas Van Broekhoven

Playmates Toys: TMNT Movie Grosses 50M+ Global Sales in Opening Week, Toy Sales to Follow

TMNT Mutant Mayhem had a great box office start grossing over 50M USD. The success of the movie de-risks the story for Playmates Toys as successful...

Nicolas Van Broekhoven

Playmates Toys: Movie and Toy Reviews TMNT Mutant Mayhem Suggest Big Upside Ahead

TMNT Mutant Mayhem momentum is on the rise with more positive chatter about the movie and the toys made by Playmates Toys. The last time there was...

Nicolas Van Broekhoven

Playmates Toys: Mario Bros Movie Surpasses $1.3 Billion in Box Office; TMNT Next?

Mario Bros latest movie has entered top-3 animated box office hits of all time. Will TMNT join the hype? Yesterday the movie was shown and received...

Nicolas Van Broekhoven