12 October, 2017

SPECULATIVE INVESTMENTS

Now you see them, now you don’t

Gillem Tulloch

window-dressing gillem-tulloch asia minth-group-ltd-0425-hk zhou-hei-ya-international-holdings-co-ltd-1458-hk sun-pharmaceutical-industries-ltd-sunp-in china-resources-gas-group-1193-hk ichibanya-co-ltd-7630-jp china-bluechemical-ltd-3983-hk china-travel-service-holdings-hong-kong-ltd-0308-hk golden-eagle-retail-group-ltd-3308-hk dish-tv-india-ltd-ditv-in syngene-international-ltd-syng-in infosys-ltd-info-in blue-dart-express-bde-in oracle-financial-services-software-ltd-india-ofss-in gloxosmithkline beigene-ltd-bgne-us-6160-hk xiabuxiabu-catering-management-china-holdings-co-520-hk speculative-investments semiconductor-manufacturing-international-corporation-0981-hk

Insights

NEWSLETTER: GDS HOLDINGS

Do Data Centres Earn Their Keep?

GDS Holdings is a reminder that an appealing industry can struggle to generate an appealing return. Data centres are one of the market’s favourite infrastructure themes: cloud demand, artificial intelligence, digitalisation, outsourcing, and the endless growth in data consumption all point in the same direction. On paper, that sounds like a very attractive place to be. The question, though, is...

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....