AMC Wanhai Securities Ltd.

AMC Wanhai Securities is an independent boutique brokerage covering Hong Kong & Asian listed equities for global institutional cilents. The company focuses on equity sales & trading, equity research, asset management and corporate finance.

AMC Wanhai Securities will give you a snapshot of stocks from across a range of sectors, with ratings and recommendations that will help you make tactical investment decisions. Additionally, we issue sector / thematic report providing deeper insights into wider trends and business drivers.

Coverage

Opportunities ahead of Singles Day (11.11)

AMC Wanhai Securities  is pleased to present our new report in our research series, AM Insights. This 15 page thematic note covers  "​Opportunities ahead of Singles Day (11.11) ". Please find attached.   "We performed an extensive screening on the companies listed in Hong Kong exchange to understand which companies can offer short-term trading opportunities ahead of Singles Day. We primarily played upon the daily trading volumes and closing prices of Midcap FMCG stocks, whose market capitalisation range between USD 500 million and USD 2 billion, listed on Hong Kong Stock Exchange. Key sectors...

Global Digitalisation – Marching towards cashless society

Cashless economy, a newly coined term, refers to the economy in which all transactions are done using plastic money, digital devices and over the Internet. Paper money is accepted as legal tender since over 300 years now. Cash has been the main mode of payment for low-value transactions involving food and personal care supplies, gifts and general merchandise since long, particularly in developing countries. Other factors contributing to the persistence of cash in developing markets are anonymity, absence of advanced payment infrastructure and limited or no financial inclusion.Several countries...

Ben Graham's intelligent investing in Asia

AMC Wanhai Securities is pleased to present our new report in our research series, AM Insights. This 17 page thematic note covers "Ben Graham's investment Principles in the Hong Kong Equity Market". In this note we did an extensive study of the companies listed in Hong Kong to see which companies fulfil the Ben Graham's criteria and were liquid enough for investment...

Ahoy! Here comes the Chinese Global Investor

​This report reaffirms our bullish view on the global impact of China’s growth story. It carries forward the theme of China’s growing clout which we highlighted in our previous report (Ahoy! Here comes the Chinese global tourist) and is the next instalment in the series. It impresses upon the reader the growing importance of Chinese outbound investment to the recipient countries and further underscores the changing economic profile of the targeted investments as China seeks to regain its rightful place among world economies.Spurred by supportive regulations, unprecedented infrastructure push i...

鼎丰集团控股有限公司(6878.HK)投资意见

​AMC万海建议以目标价港币1.4元买入鼎丰集团控股有限公司(6878.HK)的股票。该公司是为福建的中小企业服务的最大的非传统金融提供商之一。凭借其与当地市场的联系和经验,我们相信该公司的管理层将有能力利用当地经济以福建成为海上丝绸之路的重要组成部分而繁荣的过程中获益。 该公司近期股价的下跌为长期股票投资者的投资提供了进一步的增长的动力。

鼎丰集团控股有限公司(6878.HK)投资意见

​AMC万海建议以目标价港币1.4元买入鼎丰集团控股有限公司(6878.HK)的股票。该公司是为福建的中小企业服务的最大的非传统金融提供商之一。凭借其与当地市场的联系和经验,我们相信该公司的管理层将有能力利用当地经济以福建成为海上丝绸之路的重要组成部分而繁荣的过程中获益。 该公司近期股价的下跌为长期股票投资者的投资提供了进一步的增长的动力。

买入推荐 荐买入的目标价:8.50港元

​AMC万海提出了对SJM(澳门博彩)控股有限公司(880.HK)的购买,目标价为8.50港币。澳门的博彩业正呈上升趋势。对高额贵宾博彩玩家的依赖性变得越来越少,更有玩家多元化的趋势。该产业正在提供更健康有益的旅游活动,旨在吸引休闲娱乐及家庭旅游为主的游客。经过一段时间的低谷,该产业正在恢复其美好的光景。SJM一直在该产业和及大多的股票市场中表现不佳,因为它与较新的度假村之间的竞争趋于焦灼。然而,这是过度的悲观了。该公司仍然在澳门博彩市场上具有强劲的业务份额。此外,VIP贵宾博彩业务量的复苏将有利于该公司的盈利,因为作为该公司最大的盈利部分,其底线再如何也是来自VIP贵宾这个细分市场。与此同时,更能证明我们论证的是该公司现在的交易价格与同业相比,其的估值是大打折扣的。适度的估值将限制潜在的下跌空间,同时为未来的上涨提供了坚实的基础。在我们看来,其股价已经下跌到了最低点,而且旗下上葡京酒店成功开业的这个上涨因素可能仍未被考虑在内。我们对公司有积极看法是基于其在行业基本面上改善的可能及目前市场对其价值的低估。我们认为该公司目前股票风险回报的潜力对长期投资者来说具有吸引力。

联想集团有限公司(992.HK)- 提出购买推荐

​AMC万海提出对联想集团有限公司(992.HK)的买入,目标价格为港币5.8元。我们认为该公司的业务转型及开发新增长业务方面都在正确的轨道上运作及推进。公司继续在移动业务及企业业务中获得提高,同时也保持其在PC业务市场上的优势。公司的转型将由PC业务提供坚实的基础继续支持公司移动和企业业务的发展,促使它们都能可持续增长并发展成新的高增长利润版块。公司的股价在过去一年中已经修正了27%以上。我们认为负面消息对其的影响已经在价位上得到了显现,之后下跌的风险将会是有限的。我们对该公司看法积极是基于其基本面的改善及合理的估值。我们认为公司会有更好的前景,并相信它有望在即将到来的相当长的一段时间里领跑整个市场。

Initiate BUY: Lenovo Group Limited (992.HK)

​AMC Wanhai initiates with Buy on Lenovo Group Limited (992.HK) with a target price of HKD 5.8.We are optimistic that the company is on the right track as it transforms its business and develops new growth drivers. The company continues to gain traction in the mobile and enterprise businesses, while maintaining its market superiority in the PC industry. The changes in the company will be enabled by solid bedrock provided by its PC business which will continue to support the company’s mobile and enterprise businesses, enabling them to grow sustainably and develop into new high growth profit seg...

Pax Global Technology Ltd (327.HK) - Company Update Note

​Demonetisation and digital push in India is a potential game changerAMC Wanhai continues to be positive on Pax Global Technology Ltd (327.HK) with a 12-month target price of HKD 7.08. Since our last report the industry and company have been supported by strong tailwind in form of digitalisation push by India. The company has taken strategic moves to encash this potentially huge opportunity. It also continues to retain its technological edge over their local rival which makes it better positioned to weather any slowdown in Chinese market.In our view, the market has not factored in the potentia...

Opportunities ahead of Singles Day (11.11)

AMC Wanhai Securities  is pleased to present our new report in our research series, AM Insights. This 15 page thematic note covers  "​Opportunities ahead of Singles Day (11.11) ". Please find attached.   "We performed an extensive screening on the companies listed in Hong Kong exchange to understand which companies can offer short-term trading opportunities ahead of Singles Day. We primarily played upon the daily trading volumes and closing prices of Midcap FMCG stocks, whose market capitalisation range between USD 500 million and USD 2 billion, listed on Hong Kong Stock Exchange. Key sectors...

Global Digitalisation – Marching towards cashless society

Cashless economy, a newly coined term, refers to the economy in which all transactions are done using plastic money, digital devices and over the Internet. Paper money is accepted as legal tender since over 300 years now. Cash has been the main mode of payment for low-value transactions involving food and personal care supplies, gifts and general merchandise since long, particularly in developing countries. Other factors contributing to the persistence of cash in developing markets are anonymity, absence of advanced payment infrastructure and limited or no financial inclusion.Several countries...

Ben Graham's intelligent investing in Asia

AMC Wanhai Securities is pleased to present our new report in our research series, AM Insights. This 17 page thematic note covers "Ben Graham's investment Principles in the Hong Kong Equity Market". In this note we did an extensive study of the companies listed in Hong Kong to see which companies fulfil the Ben Graham's criteria and were liquid enough for investment...

Ahoy! Here comes the Chinese Global Investor

​This report reaffirms our bullish view on the global impact of China’s growth story. It carries forward the theme of China’s growing clout which we highlighted in our previous report (Ahoy! Here comes the Chinese global tourist) and is the next instalment in the series. It impresses upon the reader the growing importance of Chinese outbound investment to the recipient countries and further underscores the changing economic profile of the targeted investments as China seeks to regain its rightful place among world economies.Spurred by supportive regulations, unprecedented infrastructure push i...

China’s 13th Five-Year Plan – Carving out a transformative and ambitious path towards prosperity

​In March 2016, China adopted its 13th Five-Year Plan (FYP) which outlines the country’s goals, principles and targets for its development through to 2020, as it seeks to become ‘a moderately prosperous society’.The plan has stated that the five guiding themes of future government’s policies will be:​ Innovation Coordination Green Openness Inclusive/SharingIn the report we have focused on sectors which, in our view, will be the principle beneficiaries of the new government priorities. The aforementioned sectors are:​ Advanced manufacturing: Innovation will be the primary driving force of China...

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