Monday morning links
Niu Technologies, Shimano, TME, Shinoken, Lee Hsien Loong's speech
Yesterday, I published a report on the Chinese electric scooter company Niu Technologies. It dominates the lithium-ion scooter category in China’s top-tier cities and is taking market share from older, lead-acid battery variants. The stock is down 88% from the peak even though it has a net cash position and remains cash flow positive. A key question is whether Niu can secure an HKEX primary listing before the PCAOB deadline in 2024 to avoid a potential delisting.
In other news, Singapore prime minister Lee Hsien Loong held a speech where he warned about regional geopolitical tensions and how we all must “get ourselves prepared psychologically” for a conflict.
($ = behind a paywall)
My report on Chinese electric scooter company Niu Technologies (NIU US－ US$472 million) ($)
South Africa’s Desert Lion Capital’s comments on Naspers (NPN SJ－ US$63 billion)
Abilitato’s write-up on Japanese bicycle supplier Shimano (German language) (7309 JP－ US$16.7 billion)
Bireme Capital on why they sold their stake in Tencent Music Entertainment (TME US－ US$7.6 billion)
The Searching 4 Value blog’s comments on the ongoing take-private transaction of Japanese property developer Shinoken (8909 JP－ US$422 million)
(estimated reading time)
Singapore PM: “We must get real” and be prepared should things go wrong in Asia (4 mins)
Third Point’s 3Q2022 letter with comments on credit markets (9 mins)
Peter Tasker: How the weak yen will re-energize Japan (h/t: UndervaluedJapan) (5 mins)
Verdad Capital: Japanese M&A vs stock returns (7 mins)
The Profit Hunting blog on the supply & demand for tin (5 mins)
The Compounding Capital Review: ROTC vs ROCE (12 mins)
(listening time)
Ex-Viking’s Paul Enright on portfolio management (1:09 hours)
Professor Barry Eichengreen on recent dollar strength (1:04 hours)
Kiril Sokoloff on the current macro environment (1:09 hours)
Indus Capital’s Howard Smith on Japanese equities (55 mins)
The Transcript interviews Eric Jhonsa on recent trends in the semiconductor industry (23 mins)
Oldfield Partners’ Richard Oldfield on his approach (56 mins)
“The Inflation Guy” Michael Ashton on inflation trading (2:41 hours)
HSBC consumer analyst Selviana Aripin on trends in Indonesia (19 mins)
ERA’s Nicholas Mak on rising rents in Singapore (12 mins)
Minxin Pei on Taiwan and China’s zero-COVID policy (28 mins)
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