Equity Analyst - Asia Consumer Sector, Investory

Devi Subhakesan

Equity Research experience of over 20 years include working at leading Asset Management and Brokerage/Investment Banking Firms.  

I focus primarily on the Asia consumer sector and analyse emerging trends and evolving consumption behaviours to publish investment insights on segments where women and/or youth drive purchasing decisions.

My approach combines in-depth industry and company research with rigorous valuation analysis to help investors make informed investment decisions.

Equity Analyst - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

Equity Bottom-Up

<ul>
<li>In Q4 2024, <a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi Corp (1810 HK)</a> ranked fourth in China (mainland) smart phone market, achieving the highest annual growth among the top vendors at 29%.</li>
<li>Chinese government's recently expanded subsidy program now covers smartphones and wearables, with a 15% subsidy for products priced under CNY6,000. This could boost demand growth in 2025.</li>
<li>China's smartphone market rebounded in 2024, driven by affordable premium designs driving upgrade demand in the mass market while innovations like GenAI, foldables, and proprietary systems attracted high-end users.</li>
</ul>


In Q4 2024, Xiaomi Corp (1810 HK) ranked fourth in China (mainland) smart phone market, achieving the highest annual growth among the top vendors at 29%.
Chinese government's recently expanded subsidy program now covers smartphones and wearables, with a 15% subsidy for products priced under CNY6,000. This could boost demand growth in 2025.
China's smartphone market rebounded in 2024, driven by affordable premium designs driving upgrade demand in the mass market while innovations like GenAI, foldables, and proprietary systems attracted high-end users.


Xiaomi Corp: China Smartphone Market—Steady Growth in 2024. Subsidy to Spur Demand in 2025