Journey of a Novice Investor…
AI Disclaimer: This article was generated with the assistance of AI. AI is prone to errors. Verify all data independently before making any investment decision. 1. Executive Summary Hang Lung Properties (0101.HK) operates as a premier dual-market commercial landlord, developing, owning, and managing high-end retail malls and Grade A office assets across Hong Kong and … Read more
AI Disclaimer: This article was generated with the assistance of AI. AI is prone to errors. Verify all data independently before making any investment decision. Reference Price: HK$ 21.20 (December 19th, 2025) Market Capitalization: HK$ 122.06 Billion 1. Executive Summary In an era defined by capital scarcity and structural upheaval within the Greater China real … Read more
AI Disclaimer: This article was generated with the assistance of AI. AI is prone to errors. Verify all data independently before making any investment decision. Stock code: 88.HK Reference Price: HK$ 3.48 (December 22, 2025) Market Cap: HK$ 2.149 billion HK$ Estimated intrinsic value (NAV-Based): HK$6.80 Dividend Yield: ~7.0% 1. Executive Summary: The Asymmetric Opportunity … Read more
Security Code: 12.HK Closing Price: HK$ 29.06 Market Capitalization: HK$140.69 Billion 1. Executive Summary 1.1 The Investment Paradox: Deep Value versus Structural Headwinds As of mid-December 2025, Henderson Land Development Company Limited (“Henderson Land” or the “Group”) presents one of the most complex investment paradoxes within the Hang Seng Index constituents. Trading at a historically … Read more
Executive Summary & Investment Thesis Summary Data: K. Wah International Holdings (KWIH) presents a compelling deep-value opportunity with a significant margin of safety. The market currently values the company at a level only slightly above its liquid, dividend-generating stake in Galaxy Entertainment Group (GEG), effectively ascribing negligible value to its entire high-quality property development and … Read more
Executive Summary This report presents a quantitative analysis of a peer group of Hong Kong-listed real estate companies and Real Estate Investment Trusts (REITs). The objective is to estimate the intrinsic value of these securities using the Gordon Growth Model (GGM) and to calculate their implied expected rates of return. The analysis utilizes end-of-day closing … Read more
Introduction: The Case for Dividend Investing in Hong Kong’s Real Estate Sector Hong Kong’s real estate market, long a cornerstone of wealth creation, has faced unprecedented challenges since 2019. Social unrest, prolonged pandemic lockdowns, and aggressive interest rate hikes have battered property developers and Real Estate Investment Trusts (REITs) listed on the Hong Kong Stock … Read more
I came across a Youtube video, published on June 5 2024, of a Bloomberg Live interview with Ronnie Chan and Adriel Chan of Hang Lung Properties. Ronnie Chan is the honorary chairman of Hang Lung Properties who recently handed over the reins of the company to his son Adriel Chan who is now the chairman of the board. It’s always interesting to … Read more
Introduction K.Wah International Holdings Ltd. (173.HK) is a potentially undervalued real estate development company on the Hong Kong Stock Exchange. This article will be a record of my personal research notes on K. Wah International, discussing the company background, its financials, the understated asset value on the balance sheet, and the reasons why I find the … Read more
Introduction Tai Cheung Holdings Ltd. (88.HK) is a potentially undervalued real estate development company on the Hong Kong Stock Exchange. This article will be a record of my personal research notes on Tai Cheung, discussing the company background, its financials, the understated asset value on the balance sheet, and the reasons why I find the company … Read more