Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Dream International (1126 HK) FY24 Results and Concall Update: Margins Bounce Back

Dream International (1126 HK) H1 FY25: Steady + Dividend Increase

Dream International (1126 HK) Post Results Call: Moving Into A Great Peak Season

Dream International (1126 HK): Riding the Popmart Bubble

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>We met with the management of <a href="https://www.smartkarma.com/entities/dream-international-ltd" target="_blank" data-smartkarma-citation="entities:15783:1" rel="noopener">Dream International (1126 HK)</a> in Hong Kong. The company is riding a hectic phase with its Vietnam operations running at full capacity.</li>
<li>Management is evaluating capacity expansion in Indonesia and Vietnam for plastic and plush toy production serving China, targeting an aggregate capacity increase of approximately 20–30% to meet demand.</li>
<li>The stock has pulled back and trades at 8.9x PE, 5.1 EV-EBITDA, with a 6.2% dividend yield and 21% of the market capitalization in cash, and 10 Yr-Avg ROCE ~20%. </li>
</ul>


We met with the management of Dream International (1126 HK) in Hong Kong. The company is riding a hectic phase with its Vietnam operations running at full capacity.
Management is evaluating capacity expansion in Indonesia and Vietnam for plastic and plush toy production serving China, targeting an aggregate capacity increase of approximately 20–30% to meet demand.
The stock has pulled back and trades at 8.9x PE, 5.1 EV-EBITDA, with a 6.2% dividend yield and 21% of the market capitalization in cash, and 10 Yr-Avg ROCE ~20%. 


Dream International (1126 HK): Postcard From Hong Kong, October 2025