Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 25 years of experience in analyzing hundreds of companies, especially in Asia. Deep expertise in the following sectors:
- Technology (E-commerce, SaaS, Internet)
- Consumer 
- Special Situations/Deep Value Plays
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

2020 High Conviction: CJ Cheiljedang Revisited

2020 High Conviction: CJ Cheiljedang - Renewed Focus on Profits

Positive Impact of Increasing Global Online Grocery: CJ Cheiljedang (097950 KS)

Equity Bottom-Up

<ul>
<li>We have a positive view of both CJ Cheiljedang (097950 KS) and CJ Cheiljedang Pref (097955 KS). </li>
<li>We think that the company's business is likely to turn around in 2024, with more moderate inflation rates and raw material costs leading to improving earnings next year.</li>
<li>CJ Cheiljedang Pref is trading at a 58% discount to CJ Cheiljedang common shares, which we believe to be excessive. CJ Cheiljedang Pref also has higher dividend yield (4.2%).</li>
</ul>


We have a positive view of both CJ Cheiljedang (097950 KS) and CJ Cheiljedang Pref (097955 KS). 
We think that the company's business is likely to turn around in 2024, with more moderate inflation rates and raw material costs leading to improving earnings next year.
CJ Cheiljedang Pref is trading at a 58% discount to CJ Cheiljedang common shares, which we believe to be excessive. CJ Cheiljedang Pref also has higher dividend yield (4.2%).


CJ Cheiljedang Pref: Profits to Turn Around with Moderating Inflation + Big Discount to Common