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:
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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