Monde Nissin: The Investment Case
The sentiment is weak due to the large impairment charges. The valuation is undemanding (SOTP valuation of PHP10.21) and will prove attractive to...
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Anjoy Foods Group (2648 HK): The Start or the End of a Rally?
Anjoy's strong revenue and margin recovery for 3Q25 drive the post-results rally. The improved earnings projection will support a narrower...
159 Views
IFBH IPO Trading - Strong Overall Demand, Clawback Triggered
IFBH Ltd raised about US$148m in its Hong Kong IPO. We have covered various aspects of the deal in our previous note. In this note, we will talk...
433 Views
Anjoy Foods Group HK Offer: Value Stock or Value Trap? Key Facts, Financials and Valuation
Low margins, weak return metrics, and a lack of product innovation reflect Anjoy's structural challenges in a crowded, commoditized segment. The...
323 Views
Anjoy Foods Group (2648 HK) IPO: Reasonably Attractive
Anjoy Foods Group's H-share IPO at HK$66.00 offers a 33-34% FY25 PER discount to peers. With strong growth potential, solid capabilities and sound...
566 Views