22 February, 2018
TICKING TIME BOMBS
Stocks with similar traits to Steinhoff
Mark Webb
acquisition-accounting
wisetech-global
mark-webb
global
alliance-global
fosun
health-and-happiness
fullshare-holdings
steinhoff-international-holdings
3sbio
china-medical-systems-holdings-ltd
emerson-electric
flc-faros-construction
hk-electric-investments
johnson-electric
samsonite
zall-group
nidec-corporation
Insights
1 December, 2023
NEWSLETTER: EVERGRANDE (3333 HK)
Never profitable
Fredrik Oeqvist
Evergrande’s much delayed and recently published 2021 annual report makes clear that it significantly overstated revenue and earnings – most likely for many years. Contrary to what some people think, Evergrande was not so much a victim of tightened liquidity or a COVID-induced property market downturn; its problems were far more fundamental – there were never any profits....
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18 August, 2020
NEWSLETTER: COMING HOME?
Watch out for the privatisation “squeeze out”
Gillem Tulloch
The proposed Holding Foreign Companies Accountable Act could force hundreds of Chinese companies listed on US exchanges to delist over the next few years. For many large companies, seeking a secondary listing in Hong Kong or the mainland is a sensible insurance policy. However, investors should be wary of companies which decide to privatise and then relist. Our analysis of...
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