Quam Securities

Since its inception in 1986, Quam Securities Limited (Quam Securities) has grown to become one of the few mid-tier securities brokerages in Hong Kong with global execution capabilities for both private and institutional clients. It boasts a well-established network in Greater China including Taiwan and in major world markets through the Global Alliance Partners (GAP). Quam Securities is well-positioned not only to harness and drive business within the China Tonghai International Financial Limited but also between China and the world markets.

Research from Quam Securities

Research from Quam Securities, Quam Securities

Quam Securities Research

Equity Bottom-Up

<ul><li>With the easing of the COVID-19 pandemic, most of the anti-pandemic measures in Hong Kong were lifted at the end of 2022, and the market sentiment of the catering industry began to recover.</li><li>As a result, Tai Hing Group (“THG”) delivered a satisfactory recovery in 1H23 with revenue surging by 28.8% y/y to HK$1.6bn, while the bottom line turned to a profit of HK$45.3mn, from a loss of HK$52.5mn in 1H22.</li><li>An interim DPS of 3.40 HK cents was declared, translating into a payout ratio of 75%. </li></ul>

With the easing of the COVID-19 pandemic, most of the anti-pandemic measures in Hong Kong were lifted at the end of 2022, and the market sentiment of the catering industry began to recover.As a result, Tai Hing Group (“THG”) delivered a satisfactory recovery in 1H23 with revenue surging by 28.8% y/y to HK$1.6bn, while the bottom line turned to a profit of HK$45.3mn, from a loss of HK$52.5mn in 1H22.An interim DPS of 3.40 HK cents was declared, translating into a payout ratio of 75%. 

Tai Hing Group - Satisfactory Recovery After 3-Yr Pandemic