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

Oriental Watch (398 HK): Previewing Earnings For H1FY27

Ticking Different: A Comparison of the World's Listed Luxury Watch Retailers With Exposure to Rolex

Oriental Watch (398 HK): Ex-Dividend, Cash 60% of Mkt Cap and 12% Div Yield, Luxury Watch Recovering

Oriental Watch (398 HK): Cheap, Cash-Rich, and Catching a Tailwind in HK Watch Demand

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>Overall revenues, down 0.8% YoY, were a tale of two halves: H2 revenues were up 9.4% YoY and 10% HoH, led by a recovery in China (82% of sales).</li>
<li>
<a href="https://www.smartkarma.com/insights/ticking-different-a-comparison-of-the-world-s-listed-luxury-watch-retailers-with-exposure-to-rolex" target="_blank" data-smartkarma-citation="insights:241854" rel="noopener">Ticking Different: A Comparison of the World's Listed Luxury Watch Retailers With Exposure to Rolex</a> establishes why we believe momentum in China will sustain into FY27 and earnings will improve.</li>
<li>The stock trades at 8.9x/6x FY26 (unadjusted)/FY27e PE, with a 11.3%/16.7% dividend yield based on our numbers, with 60% of the market capitalization in cash</li>
</ul>


Overall revenues, down 0.8% YoY, were a tale of two halves: H2 revenues were up 9.4% YoY and 10% HoH, led by a recovery in China (82% of sales).

Ticking Different: A Comparison of the World's Listed Luxury Watch Retailers With Exposure to Rolex establishes why we believe momentum in China will sustain into FY27 and earnings will improve.
The stock trades at 8.9x/6x FY26 (unadjusted)/FY27e PE, with a 11.3%/16.7% dividend yield based on our numbers, with 60% of the market capitalization in cash


Oriental Watch (398 HK) FY26 Results: Inflection In H2, Good Set Up For FY27