Greater China Equity Long/Short Analyst

Eric Chen

With a blend of sell-side and buy-side perspectives, Eric has covered and researched hundreds of Greater China equities in TMT and consumer spaces - two sectors woven together by the overarching thesis of technology empowering consumption. 

Eric is highly experienced in fundamental equity long short strategy. He seeks to produce differentiated and original research that combines holistic qualitative framework, unique angles and robust modelling. The process helps gain deep insights into critical value drivers misunderstood by the market, which results in mis-priced stocks and hence long/short opportunities.

Equity Bottom-Up

Pop Mart International Group L / Equity Bottom-Up

<ul>
<li>Markets expect Popmart to deliver fast growth for years to come, yet we are skeptical because the pop toy business, by definition, is a niche market.</li>
<li>Blaming COVID for Popmart’s weak results risks focusing too much on near-term cyclical recovery but overlooking structural bottlenecks to growth.</li>
<li>While we are cautious for long term, continued improvement in business and news flow leading to 1H results will likely result in share price rebound and provide tactical trading opportunity.</li>
</ul>


Markets expect Popmart to deliver fast growth for years to come, yet we are skeptical because the pop toy business, by definition, is a niche market.
Blaming COVID for Popmart’s weak results risks focusing too much on near-term cyclical recovery but overlooking structural bottlenecks to growth.
While we are cautious for long term, continued improvement in business and news flow leading to 1H results will likely result in share price rebound and provide tactical trading opportunity.


Popmart (9992 HK): Long Term Constraints Cloud Near Term Recovery