Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 26 years of covering Asia Pacific equities, the past 20 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Changhong Jiahua (3991 HK): Expect Sichuan Changhong To Make An Offer

Changhong Jiahua (3991 HK): What's Up (Or Down To Be Precise)?

Changhong Jiahua (3991 HK): Sichuan Changhong's Pre-Con Scheme

Quiddity Advisors

Event-Driven

<ul>
<li>For those who came in late, I expected <strong><a href="https://www.smartkarma.com/entities/enn-energy-holdings-limited" target="_blank" data-smartkarma-citation="entities:316:1" rel="noopener">ENN (2688 HK)</a></strong>'s Offer to get up. I was wrong. For all intent and purpose, I'm also wrong on <strong><a href="https://www.smartkarma.com/entities/changhong-jiahua-holdings-ltd" target="_blank" data-smartkarma-citation="entities:5849:1" rel="noopener">Changhong (3991 HK)</a></strong>.</li>
<li>Changhong is trading 50% below terms and 34% below the undisturbed price of HK$0.92/share. A peer basket is down 5% (the median) since the Offer was announced last September.</li>
<li>1H26 financials were solid. Changhong has added net cash of $1.4bn since the Offer was announced. If small, illiquid stocks are your bag, Changhong's share price is unduly beaten up.</li>
</ul>


For those who came in late, I expected ENN (2688 HK)'s Offer to get up. I was wrong. For all intent and purpose, I'm also wrong on Changhong (3991 HK).
Changhong is trading 50% below terms and 34% below the undisturbed price of HK$0.92/share. A peer basket is down 5% (the median) since the Offer was announced last September.
1H26 financials were solid. Changhong has added net cash of $1.4bn since the Offer was announced. If small, illiquid stocks are your bag, Changhong's share price is unduly beaten up.


Sichuan Changhong Electric Co, Ltd. (600839 CH)

Changhong Jiahua

Changhong Jiahua (3991 HK)'s Busted Deal