Vriddhi Consulting

Punit Khanna

Focused on Asian Small-mid cap market space with long term investment horizon.

Primer: Sitoy Group Holdings (1023 HK) - May 2026

Sitoy (1023 HK) Disappointing H1 FY24, 6x PE, 67% of Mkt Cap in Cash,~9% Div Yield: Good Trade

Independent Insight Provider

Equity Bottom-Up

<ul>
<li>Sitoy announced full-year results yesterday. Operationally, they were below expectations.</li>
<li>Its Net Current Assets minus all liabilities were HK$ .58 per share.</li>
<li>Its book value was HK$ 1.51 per share and at 0.28 P/B</li>
</ul>
<div class="content-highlight">
<h2>Raising Money for Persons with Disabilities in Singapore</h2>
<p><strong><em>For your kind consideration</em></strong></p>
<p><em>This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.</em></p>
<p><em>All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.</em></p>
<p data-start="635" data-end="669">To contribute, <a href="https://www.giving.sg/donate/campaign/raising-money-for-special-needs-persons-in-singapore" target="_blank" rel="noopener">please visit this URL.</a></p>
</div>


Sitoy announced full-year results yesterday. Operationally, they were below expectations.
Its Net Current Assets minus all liabilities were HK$ .58 per share.
Its book value was HK$ 1.51 per share and at 0.28 P/B


Raising Money for Persons with Disabilities in Singapore
For your kind consideration
This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.
All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.
To contribute, please visit this URL.


Sitoy Results: Value Trap or Not? You Decide: Below Liquidation Value