Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Equity Bottom-Up

Hengan International Group / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hengan-international-group-co-ltd" target="_blank" data-smartkarma-citation="entities:29:1" rel="noopener">Hengan International Group (1044 HK)</a> and <a href="https://www.smartkarma.com/entities/vinda-international-holdings-limited" target="_blank" data-smartkarma-citation="entities:475:1" rel="noopener">Vinda International (3331 HK)</a> are both market leaders in China's personal care industry.</li>
<li>Hengan's operations have greater exposure to sanitary napkins and diapers; whereas tissues account for 83% of Vinda's revenue. Both companies have been impacted by an increase in wood pulp prices.</li>
<li>Hengan is trading cheap; but Vinda's bottom line is forecast to return to its glory days. Plus rumours of a possible takeover of Vinda continue to do the rounds. </li>
</ul>



Hengan International Group (1044 HK) and Vinda International (3331 HK) are both market leaders in China's personal care industry.
Hengan's operations have greater exposure to sanitary napkins and diapers; whereas tissues account for 83% of Vinda's revenue. Both companies have been impacted by an increase in wood pulp prices.
Hengan is trading cheap; but Vinda's bottom line is forecast to return to its glory days. Plus rumours of a possible takeover of Vinda continue to do the rounds. 


Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

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Brazil

Suzano Papel e Celulose S.A. produces and sells bleached eucalyptus kraft pulp and printing and writing paper. The Company owns and operates forest plantations in the States of Bahia and Espirito Santo.

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Suzano Papel E Celulose Sa (SUZB5 BZ)

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