bullish

Taste Gourmet

Taste Gourmet and the Game-Changing Joint Venture

409 Views03 Jul 2020 07:30
SUMMARY

A lot has happened since my last update on Taste Gourmet Group Ltd (8371 HK). The stock has been on a tear recently and is up 57% since my first insight, Taste Gourmet - Small Is Beautiful. I will provide some context to this price movement with a few updates:

In this insight, I will cover:

  • The game-changing joint venture with the WH Group (288 HK).
  • Transfer of Listing to the Main Board.
  • Resilient results for FY20 and the recovery in May/June.
  • Government Aid

While the stock has recently moved up a lot and trades at 8x PE FY21 earnings (7x ex-cash), there is ample opportunity for it to rerate as it will now undertake a massive expansion in China.

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Sameer Taneja
Equity, Bottom-up Analyst
Investics Research
Equity Bottom-UpCommodities
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