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

China to Finally Allow Group Tours to Korea and Japan?

Hotel Shilla: A Key Beneficiary of End of Zero COVID Policy in China & End of Mask Mandate in Korea

Hotel Shilla: Wins New License to Operate Duty Free at Incheon International Airport for 10 Years

The Blockchain Delusion. A (Mostly) Bearish Investment Thesis.

Equity Bottom-Up

<ul>
<li>Hotel Shilla, one of the largest operators of duty free shops in Korea, will be a major beneficiary of the return of the group tours from China to Korea.</li>
<li>We expect the consensus to raise the company's sales estimates in 2024 to 2025 by about 3-7% and net profit estimates by 20-25%+ in this period. </li>
<li>Currently, Hotel Shilla Pref/Common stock price ratio is 0.61 which is 22% below the five year average of 0.78. </li>
</ul>


Hotel Shilla, one of the largest operators of duty free shops in Korea, will be a major beneficiary of the return of the group tours from China to Korea.
We expect the consensus to raise the company's sales estimates in 2024 to 2025 by about 3-7% and net profit estimates by 20-25%+ in this period. 
Currently, Hotel Shilla Pref/Common stock price ratio is 0.61 which is 22% below the five year average of 0.78. 


Hotel Shilla Pref: Discount Vs Common to Narrow and Boost from Chinese Group Tours to Korea