ConsumerDaily Briefs

Consumer: Sony Corp, MINISO Group Holdings, Sands China Ltd, Steel Strips Wheels and more

In today’s briefing:

  • Conviction Call Sony – Integrating ESports and Betting Into the Gaming Ecosystem
  • Miniso Slides 47% Amidst Beijing’s Clampdown on ADRs: Large Upside Possible Once the Dust Settles
  • Sands China Ltd. : Catalysts Currently Still Hidden by Sporadic Pandemic Outbreaks, Time to Buy
  • Steel Strips Wheels: Exports and Alloy Wheels Lead Growth

Conviction Call Sony – Integrating ESports and Betting Into the Gaming Ecosystem

By Mio Kato

Following its purchase of the EVO fighting game tournament in March (Sony – Time to Add to Our 2021 Conviction Call as They A … (smartkarma.com)) Sony continues to strengthen its position within the overall eSports scene as patent information reveals plans to capture eSports betting and tournament organisation within its ecosystem.


Miniso Slides 47% Amidst Beijing’s Clampdown on ADRs: Large Upside Possible Once the Dust Settles

By Oshadhi Kumarasiri

After rallying 76% from the IPO price to US$ 35.21 per ADS during the first four months, MINISO Group Holdings (MNSO US) is currently trading 7.5% below the IPO price, primarily due to the negativity created by Beijing’s anti-monopoly and data security probes and efforts to clampdown domestic companies from listing their shares in overseas markets.

Considering the nature of Miniso’s business operations, we think it is unlikely that Miniso will face targeted regulatory action from the Chinese government, and therefore, we think the current dip in the share price presents an opportunity to own a high-quality company with long- term earnings growth potential.


Sands China Ltd. : Catalysts Currently Still Hidden by Sporadic Pandemic Outbreaks, Time to Buy

By Howard J Klein

  • Having sold its Las Vegas assets for US$6.2B, Sands China Ltd. parent is expected to pivot to a third Asian market as soon as a sustainable post-pandemic revenue pattern becomes evident. It is not a pure play in the space.
  • Macau has begun a slow, but steady lift of travel bans from Guangdong. Hong Kong easing may not be as far off as many now believe.
  • The company has just received approval to amend certain covenants in a key US$2b lending facility to assure a more than adequate war chest for sustainability during the pandemic endgame period just ahead and further investment in Asia beyond.

Steel Strips Wheels: Exports and Alloy Wheels Lead Growth

By Axis Direct

We retain a BUY with a revised target price (TP) of Rs 1,456/share, valuing the company at 5x FY23E EV/EBIDTA. The TP implies an upside of 14% from CMP.

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