Quality-first, Business-perspective Strategy, Urbem (HK) Limited

Steven Chen

Quality-first, Business-perspective Strategy

Equity Bottom-Up

<ul>
<li>It is difficult to resist the temptation to buy a financially attractive business at an extraordinarily low price multiple;</li>
<li>But I think that investors should be disciplined to look for proven, sustainable business models only;</li>
<li>This is precisely what Akatsuki lacks at the moment, in my view;</li>
<li>Despite the depressed valuation, I would wait on the sidelines until the long-term growth trajectory becomes more visible.</li>
</ul>


It is difficult to resist the temptation to buy a financially attractive business at an extraordinarily low price multiple;
But I think that investors should be disciplined to look for proven, sustainable business models only;
This is precisely what Akatsuki lacks at the moment, in my view;
Despite the depressed valuation, I would wait on the sidelines until the long-term growth trajectory becomes more visible.


Akatsuki: Interesting Story, but I'll Watch on the Sidelines for Now

<ul>
<li>The Shenzhen-based game developer trades at an attractive valuation;</li>
<li>Meanwhile, the business has been growing at a nearly triple-digit rate while maintaining an above 30% return on equity and invested capital;</li>
<li>Should investors buy into this (seemingly quality) growth story?  We want to take a deep dive.</li>
</ul>


The Shenzhen-based game developer trades at an attractive valuation;
Meanwhile, the business has been growing at a nearly triple-digit rate while maintaining an above 30% return on equity and invested capital;
Should investors buy into this (seemingly quality) growth story?  We want to take a deep dive.


United Kingdom

Team17 Group PLC develop game software. The Company publishes games for computer, console, mobile devices, and other digital platforms. Team17 Group serves customers worldwide.

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Team17 Group PLC (TM17 LN)

Akatsuki: Interesting Story, but I'll Watch on the Sidelines for Now

High margin, superior return on capital, cash-rich, capital-light, founder-led/owned, and most interestingly, a price multiple of 2x - but here are...

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Another superior-return, fast-growing gaming business trading at an attractive level. Should investors buy into this (seemingly quality) growth...

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