Equity Analyst

Steve Zhou, CFA

Over 13 years of professional experience covering mainly Asian consumer companies in sell-side and buy-side.

Fenbi (2469 HK): Rightfully Sold, Wrongfully Punished

Fenbi (2469 HK):  Strong Positive Profit Alert for 1H2023

Equity Bottom-Up

<ul>
<li>According to China state media reports, a record number of more than 3 million people attended China's annual civil service exam last weekend, up from 2.6 million last year.  </li>
<li>A civil servant job is viewed in China as highly stable.  In the current weak macro environment where youth unemployment is high, job security is increasingly vital.</li>
<li>The company now trades at 18x forward earnings, with around 30% expected earnings growth. </li>
</ul>


According to China state media reports, a record number of more than 3 million people attended China's annual civil service exam last weekend, up from 2.6 million last year.  
A civil servant job is viewed in China as highly stable.  In the current weak macro environment where youth unemployment is high, job security is increasingly vital.
The company now trades at 18x forward earnings, with around 30% expected earnings growth. 


Fenbi (2469 HK):  Beneficiary Of A Weak Job Market In China

Fenbi Ltd

Fenbi (2469 HK): Beneficiary Of A Weak Job Market In China