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

Perfect Medical (1830 HK) H1 FY25 Earnings: Resilient Yield Despite Weak HK Sentiment

Perfect Medical (1830 HK): Gleanings from the Annual Report and Presentation For FY24

Perfect Medical (1830 HK): Green Shoots Emerging After A Disastrous FY25

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

Perfect Medical Health / Equity Bottom-Up

<ul>
<li>We met with <a href="https://www.smartkarma.com/entities/perfect-medical-health-management" target="_blank" data-smartkarma-citation="entities:3639:1" rel="noopener">Perfect Medical Health (1830 HK)</a> in our recent trip to Hong Kong. Retail sales have shown signs of recovery recently in HK in August/September. </li>
<li>Unfortunately, the company has not yet seen its sales in positive territory, and it may be necessary to wait for the retail sales trend post-results in late November before concluding. </li>
<li>Factoring in the cost cuts guided by management in their post-results call, the stock trades at 9.0x PE FY26e with an 11% dividend yield (implying -9%/-8% YoY revenue/profit growth). </li>
</ul>


We met with Perfect Medical Health (1830 HK) in our recent trip to Hong Kong. Retail sales have shown signs of recovery recently in HK in August/September. 
Unfortunately, the company has not yet seen its sales in positive territory, and it may be necessary to wait for the retail sales trend post-results in late November before concluding. 
Factoring in the cost cuts guided by management in their post-results call, the stock trades at 9.0x PE FY26e with an 11% dividend yield (implying -9%/-8% YoY revenue/profit growth). 


Perfect Medical (1830 HK): Postcard from Hong Kong, October 2025