Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

A Long & Short Investment Ideas generator for Asian Equities with 10 years experience in a Hedge fund focused on bottom-up ideas, searching out mispriced ideas and misunderstood investment thesis. Provides on-the-ground insights in various Asian markets with a sway towards ASEAN. Experienced and survived the Asian Financial Crisis in a family business, as well as the Global Financial Crisis in financial markets where lessons learned. It's all about understanding business drivers and navigating business cycles, which has high applicability in generating investment ideas. 

Investment horizon: Mid to Long term

Asian Insight Provider - Actionable ideas

Tongda (698): Stub, Long Dated, OTM Call Option

Tongda (698): Real Monetization Potential

Tongda (698 HK) - Android Demand and Smart-Tech to Drive Earnings Recovery; Maintain BUY

Tongda (698 HK) - 1H25 Earnings Recovery In-Line

Wasion Holdings (3393): More than Smart Power Meter

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/tongda-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:18625:1" rel="noopener">Tongda Group Holdings (698 HK)</a> 2025 performance is commendable, turning from loss making (HK$3.94 loss 2024) into HK$120.4 million profit.</li>
<li>Household and Sporting Goods bets paid off, with gross profit margin of 23% replacing consumer electronics' gross profit margin of 11%. </li>
<li>Through its 66% ownership of Tongda Chuangzhi,  Tongda Group owns a piece of a high-growth business with strong margins (24%+) and major global clients like IKEA at 85% discount.  </li>
</ul>



Tongda Group Holdings (698 HK) 2025 performance is commendable, turning from loss making (HK$3.94 loss 2024) into HK$120.4 million profit.
Household and Sporting Goods bets paid off, with gross profit margin of 23% replacing consumer electronics' gross profit margin of 11%. 
Through its 66% ownership of Tongda Chuangzhi,  Tongda Group owns a piece of a high-growth business with strong margins (24%+) and major global clients like IKEA at 85% discount.  


Tongda (698): 85% Discount to Higher Margin Business