000333.SZ
Midea Group · SZ
Browse research notes by company, with quality checks, valuation assumptions, risk updates, and follow-up conclusions kept in one place.
Midea Group · SZ
Luzhou Laojiao · SZ
Gree Electric Appliances · SZ
Wuliangye · SZ
China Resources Sanjiu · SZ
Focus Media · SZ
Supor · SZ
Hikvision · SZ
Robam Appliances · SZ
Li Ning · HK
Nongfu Spring · HK
NetEase · HK
Aier Eye Hospital · SZ
CATL · SZ
Mindray · SZ
Imeik · SZ
Chongqing Brewery · SH
Hengrui Medicine · SH
Kweichow Moutai · SH
Shanxi Fenjiu · SH
Bull Group · SH
Haitian Flavouring · SH
G-bits · SH
M&G Stationery · SH
Eastroc Beverage · SH
Kingsoft Office · SH
Advanced Micro Devices · US
Amazon · US
Broadcom · US
Alphabet · US
Microsoft · US
Nvidia · US
Tencent Holdings · HK
CMS · HK
Anta Sports · HK
Hithink RoyalFlush Information Network Co., Ltd. · SZ
Meta Platforms, Inc. · US
Oracle Corporation · US
Palantir Technologies Inc. · US
Midea Group is rated Watchlist with a 82/100 quality score and a current/base FV ratio of 0.93.
Midea Group remains on the watchlist: quality score 82/100, current price/base FV 0.95.
Midea Group is a WATCHLIST name: quality score 82/100, current price/base FV 0.97.
Midea is a WATCHLIST name: quality score 82/100, current price/base FV 0.93.
Midea is a WATCHLIST name: quality score 82/100, current price/base FV 0.94.
Midea Group: WATCHLIST, quality 82/100, price/base FV 0.94, base FV 90.13 CNY.
Midea Group: WATCHLIST, quality 78/100, price/base FV 7.62, base FV 11.06CNY.
Midea Group: WATCHLIST, quality 80/100, price/base FV 1.11, base FV 74.44CNY.
000333.SZ remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Midea Group Co., Ltd. remains WATCHLIST: current price/base FV 1.16, with conservative/base FV 40.25/68.12 CNY.
Midea Group Co., Ltd. remains WATCHLIST: current price/base FV 1.17, with conservative/base FV 40.25/68.12 CNY.
Midea Group remains excellent; the memo keeps WATCHLIST because current price/base FV is 0.94.
Midea remains a good company, but price is close to base fair value and the memo waits for a wider margin of safety.
Luzhou Laojiao is rated Watchlist with a 77/100 quality score and a current/base FV ratio of 1.44.
Luzhou Laojiao remains on the watchlist: quality score 77/100, current price/base FV 1.47.
Luzhou Laojiao is a WATCHLIST name: quality score 77/100, current price/base FV 1.47.
Luzhou Laojiao is a WATCHLIST name: quality score 77/100, current price/base FV 1.36.
Luzhou Laojiao is a WATCHLIST name: quality score 77/100, current price/base FV 1.35.
Luzhou Laojiao: WATCHLIST, quality 77/100, price/base FV 1.41, base FV 61.68 CNY.
Luzhou Laojiao: WATCHLIST, quality 74/100, price/base FV 4.63, base FV 18.92CNY.
Luzhou Laojiao: WATCHLIST, quality 76/100, price/base FV 1.11, base FV 74.21CNY.
000568.SZ remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Luzhou Laojiao Co., Ltd. remains WATCHLIST: current price/base FV 0.75, with conservative/base FV 67.92/104.83 CNY.
Luzhou Laojiao Co., Ltd. remains WATCHLIST: current price/base FV 0.73, with conservative/base FV 67.92/104.83 CNY.
Luzhou Laojiao remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 0.83.
Luzhou Laojiao has strong brand quality, but the 2025 revenue and FCF decline means the current price does not give enough protection.
Gree Electric Appliances is rated Watchlist with a 76/100 quality score and a current/base FV ratio of 0.86.
Gree Electric Appliances remains on the watchlist: quality score 76/100, current price/base FV 0.88.
Gree Electric Appliances is a WATCHLIST name: quality score 76/100, current price/base FV 0.91.
Gree Electric is a WATCHLIST name: quality score 76/100, current price/base FV 0.87.
Gree Electric is a WATCHLIST name: quality score 76/100, current price/base FV 0.87.
Gree Electric Appliances: WATCHLIST, quality 76/100, price/base FV 0.88, base FV 46.43 CNY.
Gree Electric Appliances: WATCHLIST, quality 72/100, price/base FV 3.25, base FV 12.48CNY.
Gree Electric Appliances: WATCHLIST, quality 78/100, price/base FV 1.11, base FV 35.96CNY.
000651.SZ does not clear the quality, cash-flow, or evidence gate for purchase in this review.
Gree Electric Appliances, Inc. of Zhuhai remains AVOID: current price/base FV 0.58, with conservative/base FV 46.15/65.48 CNY.
Gree Electric Appliances, Inc. of Zhuhai remains AVOID: current price/base FV 0.59, with conservative/base FV 46.15/65.48 CNY.
Gree Electric Appliances meets the BUY valuation and downside-protection gates at current price/base FV of 0.61; cyclicality remains a thesis tag and tracking risk.
Gree is a mature appliance leader whose cash flow and balance sheet provide acceptable downside protection.
Wuliangye is rated Watchlist with a 82/100 quality score and a current/base FV ratio of 0.79.
Wuliangye remains on the watchlist: quality score 82/100, current price/base FV 0.82.
Wuliangye is a WATCHLIST name: quality score 82/100, current price/base FV 0.82.
Wuliangye is a WATCHLIST name: quality score 82/100, current price/base FV 0.78.
Wuliangye is a WATCHLIST name: quality score 82/100, current price/base FV 0.77.
Wuliangye Yibin: WATCHLIST, quality 82/100, price/base FV 0.79, base FV 95.00 CNY.
Wuliangye Yibin: WATCHLIST, quality 74/100, price/base FV 1.97, base FV 38.74CNY.
Wuliangye Yibin: WATCHLIST, quality 78/100, price/base FV 1.11, base FV 65.48CNY.
000858.SZ meets the BUY threshold on quality and valuation, with primary-source follow-up still required.
Wuliangye Yibin Co., Ltd. remains WATCHLIST: current price/base FV is 0.51, but primary-evidence coverage is not yet sufficient for BUY.
Wuliangye Yibin Co., Ltd. remains WATCHLIST: current price/base FV is 0.50, but primary-evidence coverage is not yet sufficient for BUY.
Wuliangye Yibin meets the BUY valuation and downside-protection gates at current price/base FV of 0.56; operating repair remains a tracked thesis risk.
Wuliangye's repair case meets the BUY valuation and downside-protection gates, while operating normalization remains a tracked thesis risk.
China Resources Sanjiu is rated Watchlist with a 80/100 quality score and a current/base FV ratio of 0.65.
CR Sanjiu remains on the watchlist: quality score 80/100, current price/base FV 0.68.
China Resources Sanjiu is a WATCHLIST name: quality score 80/100, current price/base FV 0.67.
CR Sanjiu is a WATCHLIST name: quality score 80/100, current price/base FV 0.65.
China Resources Sanjiu is a WATCHLIST name: quality score 80/100, current price/base FV 0.64.
China Resources Sanjiu: WATCHLIST, quality 80/100, price/base FV 0.65, base FV 38.74 CNY.
China Resources Sanjiu: WATCHLIST, quality 72/100, price/base FV 20.94, base FV 1.22CNY.
China Resources Sanjiu: WATCHLIST, quality 80/100, price/base FV 1.11, base FV 22.64CNY.
000999.SZ remains a watchlist-quality business, but the current price does not provide enough margin of safety.
China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. remains WATCHLIST: current price/base FV 0.80, with conservative/base FV 17.39/29.6 CNY.
China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. remains WATCHLIST: current price/base FV 0.80, with conservative/base FV 17.39/29.6 CNY.
China Resources Sanjiu remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 1.
China Resources Sanjiu is stable, but Tasly consolidation, goodwill, and integration risk cap the signal.
Focus Media is rated Watchlist with a 81/100 quality score and a current/base FV ratio of 1.15.
Focus Media remains on the watchlist: quality score 81/100, current price/base FV 1.19.
Focus Media is a WATCHLIST name: quality score 81/100, current price/base FV 1.25.
Focus Media is a WATCHLIST name: quality score 81/100, current price/base FV 1.15.
Focus Media is a WATCHLIST name: quality score 81/100, current price/base FV 1.13.
Focus Media: WATCHLIST, quality 81/100, price/base FV 1.15, base FV 4.48 CNY.
Focus Media: WATCHLIST, quality 72/100, price/base FV 9.04, base FV 0.57CNY.
Focus Media: WATCHLIST, quality 78/100, price/base FV 1.11, base FV 4.5CNY.
002027.SZ remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Focus Media Information Technology Co., Ltd. remains WATCHLIST: current price/base FV 0.62, with conservative/base FV 4.7/7.75 CNY.
Focus Media Information Technology Co., Ltd. remains WATCHLIST: current price/base FV 0.63, with conservative/base FV 4.7/7.75 CNY.
Focus Media remains WATCHLIST because current price/base FV is 0.74 and current price is above conservative FV, so the BUY gates are not met.
Focus Media has strong cash conversion, but advertising cyclicality and profit pressure keep the price from being attractive enough.
Supor is rated Watchlist with a 81/100 quality score and a current/base FV ratio of 1.27.
Supor remains on the watchlist: quality score 81/100, current price/base FV 1.31.
Supor is a WATCHLIST name: quality score 81/100, current price/base FV 1.34.
Supor is a WATCHLIST name: quality score 81/100, current price/base FV 1.32.
Supor is a WATCHLIST name: quality score 81/100, current price/base FV 1.32.
Supor: WATCHLIST, quality 81/100, price/base FV 1.38, base FV 32.49 CNY.
Supor: WATCHLIST, quality 70/100, price/base FV 8.32, base FV 5.44CNY.
SUPOR: WATCHLIST, quality 80/100, price/base FV 1.11, base FV 39.47CNY.
002032.SZ remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Zhejiang Supor Co., Ltd. remains WATCHLIST: current price/base FV 0.94, with conservative/base FV 28.08/45.39 CNY.
Zhejiang Supor Co., Ltd. remains WATCHLIST: current price/base FV 0.97, with conservative/base FV 28.08/45.39 CNY.
SUPOR remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 1.09.
Supor is a high-ROE, high-dividend small-appliance leader, but price is above base FV.
Hikvision is rated Watchlist with a 81/100 quality score and a current/base FV ratio of 1.02.
Hikvision remains on the watchlist: quality score 81/100, current price/base FV 1.04.
Hikvision is a WATCHLIST name: quality score 81/100, current price/base FV 1.03.
Hikvision is a WATCHLIST name: quality score 81/100, current price/base FV 1.02.
Hikvision is a WATCHLIST name: quality score 81/100, current price/base FV 0.98.
Hikvision: WATCHLIST, quality 81/100, price/base FV 0.98, base FV 36.38 CNY.
Hikvision: WATCHLIST, quality 73/100, price/base FV 6.06, base FV 5.66CNY.
Hikvision: WATCHLIST, quality 78/100, price/base FV 1.11, base FV 29.84CNY.
002415.SZ remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Hangzhou Hikvision Digital Technology Co., Ltd. remains WATCHLIST: current price/base FV 1.77, with conservative/base FV 12.62/19.46 CNY.
Hangzhou Hikvision Digital Technology Co., Ltd. remains WATCHLIST: current price/base FV 1.77, with conservative/base FV 12.62/19.46 CNY.
Hikvision remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 1.64.
Hikvision remains a high-quality AIoT leader, but current price is above base FV and geopolitical risk matters.
Robam Appliances is rated Watchlist with a 79/100 quality score and a current/base FV ratio of 1.19.
Robam Appliances remains on the watchlist: quality score 79/100, current price/base FV 1.25.
Robam Appliances is a WATCHLIST name: quality score 79/100, current price/base FV 1.21.
Robam Appliances: WATCHLIST, quality 79/100, price/base FV 1.21, base FV 12.83 CNY.
Hangzhou Robam Appliances Co., Ltd.: WATCHLIST, quality 76/100, price/base FV 0.76, base FV 20.6CNY.
ROBAM Appliances: WATCHLIST, quality 79/100, price/base FV 1.23, base FV 12.8308CNY.
002508.SZ meets the BUY threshold on quality and valuation, with primary-source follow-up still required.
Hangzhou Robam Appliances Co., Ltd. remains WATCHLIST: current price/base FV is 0.62, but primary-evidence coverage is not yet sufficient for BUY.
Hangzhou Robam Appliances Co., Ltd. remains WATCHLIST: current price/base FV is 0.62, but primary-evidence coverage is not yet sufficient for BUY.
Robam Appliances remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 0.98.
Robam has cash flow and dividends, but revenue decline and lower ROIC keep it on the watch list.
Li Ning is rated Buy with a 81/100 quality score and a current/base FV ratio of 0.69.
Li Ning is a BUY name: quality score 81/100, current price/base FV 0.70.
Li Ning: WATCHLIST, quality 81/100, price/base FV 0.71, base FV 20.936HKD.
02331.HK remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Li Ning Company Limited remains WATCHLIST: current price/base FV is 0.57, but primary-evidence coverage is not yet sufficient for BUY.
Li Ning Company Limited remains WATCHLIST: current price/base FV is 0.56, but primary-evidence coverage is not yet sufficient for BUY.
Li Ning is a borderline BUY: free cash flow and the balance sheet still protect downside, but growth and ROIC have cooled and the stock is only near 70% of base FV.
Li Ning has acceptable brand quality and valuation below base FV, but channel and growth repair still need verification.
Nongfu Spring is rated Watchlist with a 83/100 quality score and a current/base FV ratio of 1.71.
Nongfu Spring remains on the watchlist: quality score 83/100, current price/base FV 1.77.
Nongfu Spring is a WATCHLIST name: quality score 83/100, current price/base FV 1.64.
Nongfu Spring Co., Ltd.: WATCHLIST, quality 82/100, price/base FV 1.88, base FV 22.4HKD.
09633.HK remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Nongfu Spring Co., Ltd. remains WATCHLIST: current price/base FV 1.94, with conservative/base FV 13.49/20.53 HKD.
Nongfu Spring Co., Ltd. remains WATCHLIST: current price/base FV 1.97, with conservative/base FV 13.46/20.48 HKD.
Nongfu Spring remains excellent; the memo keeps WATCHLIST because current price/base FV is 2.23.
Nongfu Spring is a good business, but spot price is far above conservative and base FV.
NetEase is rated Watchlist with a 84/100 quality score and a current/base FV ratio of 0.66.
NetEase is a BUY name: quality score 84/100, current price/base FV 0.61.
09999.HK remains a watchlist-quality business, but the current price does not provide enough margin of safety.
NetEase, Inc. remains WATCHLIST: current price/base FV 0.94, with conservative/base FV 148.05/219.07 HKD.
NetEase, Inc. remains WATCHLIST: current price/base FV 0.98, with conservative/base FV 147.64/218.47 HKD.
NetEase remains excellent; the memo keeps WATCHLIST because current price/base FV is 0.94.
NetEase has excellent game cash flow and a strong balance sheet, but the margin of safety is not enough.
Aier Eye Hospital is rated Watchlist with a 80/100 quality score and a current/base FV ratio of 1.40.
Aier Eye Hospital remains on the watchlist: quality score 80/100, current price/base FV 1.44.
Aier Eye Hospital is a WATCHLIST name: quality score 80/100, current price/base FV 1.37.
Aier Eye Hospital: WATCHLIST, quality 80/100, price/base FV 1.41, base FV 6.30 CNY.
Aier Eye Hospital Group Co., Ltd.: WATCHLIST, quality 73/100, price/base FV 1.54, base FV 5.8CNY.
Aier Eye Hospital: WATCHLIST, quality 80/100, price/base FV 1.38, base FV 6.3029CNY.
300015.SZ remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Aier Eye Hospital Group Co., Ltd. remains WATCHLIST: current price/base FV 1.57, with conservative/base FV 3.11/5.31 CNY.
Aier Eye Hospital Group Co., Ltd. remains WATCHLIST: current price/base FV 1.55, with conservative/base FV 3.11/5.3 CNY.
Aier Eye Hospital remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 2.39.
Aier Eye has decent cash flow, but goodwill and valuation leave insufficient protection.
CATL is rated Avoid with a 64/100 quality score and a current/base FV ratio of 1.83.
CATL is an avoid for this round: quality score 64/100, current price/base FV 1.86.
CATL is an AVOID name: quality score 64/100, current price/base FV 1.99.
CATL is an AVOID name: quality score 64/100, current price/base FV 2.01.
CATL is a WATCHLIST name: quality score 76/100, current price/base FV 1.70.
CATL: AVOID, quality 64/100, price/base FV 1.87, base FV 199.14 CNY.
Contemporary Amperex Technology Co., Limited: WATCHLIST, quality 76/100, price/base FV 1.64, base FV 229.57CNY.
CATL: AVOID, quality 64/100, price/base FV 1.81, base FV 199.143CNY.
300750.SZ does not clear the quality, cash-flow, or evidence gate for purchase in this review.
Contemporary Amperex Technology Co., Limited remains AVOID: current price/base FV 2.26, with conservative/base FV 117.27/154.38 CNY.
Contemporary Amperex Technology Co., Limited remains AVOID: current price/base FV 2.34, with conservative/base FV 117.27/154.38 CNY.
Contemporary Amperex Technology remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 1.51.
CATL is a global battery leader, but current price does not provide enough safety margin.
Mindray is rated Watchlist with a 83/100 quality score and a current/base FV ratio of 1.61.
Mindray Medical remains on the watchlist: quality score 83/100, current price/base FV 1.67.
Mindray Medical is a WATCHLIST name: quality score 83/100, current price/base FV 1.69.
Mindray Medical is a WATCHLIST name: quality score 83/100, current price/base FV 1.58.
Mindray Medical is a WATCHLIST name: quality score 78/100, current price/base FV 1.11.
Mindray Medical: WATCHLIST, quality 83/100, price/base FV 1.62, base FV 94.02 CNY.
Shenzhen Mindray Bio-Medical Electronics Co., Ltd.: WATCHLIST, quality 81/100, price/base FV 1.32, base FV 117CNY.
Mindray Medical: WATCHLIST, quality 83/100, price/base FV 1.59, base FV 94.02CNY.
300760.SZ remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. remains WATCHLIST: current price/base FV 1.14, with conservative/base FV 79.75/124.07 CNY.
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. remains WATCHLIST: current price/base FV 1.11, with conservative/base FV 79.75/124.07 CNY.
Mindray Bio-Medical Electronics remains excellent; the memo keeps WATCHLIST because current price/base FV is 1.11.
Mindray remains a quality medical-device leader, but domestic pressure and valuation keep it near base FV.
Imeik is rated Watchlist with a 85/100 quality score and a current/base FV ratio of 1.46.
Imeik Technology remains on the watchlist: quality score 85/100, current price/base FV 1.47.
Imeik Technology is a WATCHLIST name: quality score 85/100, current price/base FV 1.51.
Imeik is a WATCHLIST name: quality score 85/100, current price/base FV 1.45.
Imeik is a WATCHLIST name: quality score 72/100, current price/base FV 1.49.
Imeik Technology: WATCHLIST, quality 85/100, price/base FV 1.51, base FV 72.04 CNY.
Imeik Technology Development Co., Ltd.: WATCHLIST, quality 74/100, price/base FV 1.56, base FV 65.7CNY.
Imeik Technology: WATCHLIST, quality 85/100, price/base FV 1.40, base FV 72.0357CNY.
300896.SZ remains a watchlist-quality business, but the current price does not provide enough margin of safety.
IMEIK Technology Development Co., Ltd. remains WATCHLIST: current price/base FV 1.29, with conservative/base FV 42.95/69.48 CNY.
IMEIK Technology Development Co., Ltd. remains WATCHLIST: current price/base FV 1.25, with conservative/base FV 42.95/69.48 CNY.
Imeik Technology remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 1.76.
Imeik has very high profitability, but 2025 revenue and profit decline make current price too high versus base FV.
Chongqing Brewery is rated Watchlist with a 82/100 quality score and a current/base FV ratio of 0.99.
Chongqing Brewery remains on the watchlist: quality score 82/100, current price/base FV 1.06.
Chongqing Brewery is a WATCHLIST name: quality score 82/100, current price/base FV 1.05.
Chongqing Brewery is a WATCHLIST name: quality score 82/100, current price/base FV 0.98.
Chongqing Brewery is a BUY candidate: quality score 76/100, current price/base FV 0.69.
Chongqing Brewery: WATCHLIST, quality 82/100, price/base FV 1.01, base FV 44.36 CNY.
Chongqing Brewery Co., Ltd.: WATCHLIST, quality 77/100, price/base FV 0.89, base FV 49.88CNY.
Chongqing Brewery: WATCHLIST, quality 82/100, price/base FV 0.97, base FV 44.3589CNY.
600132.SH meets the BUY threshold on quality and valuation, with primary-source follow-up still required.
Chongqing Brewery Co., Ltd. remains WATCHLIST: current price/base FV is 0.57, but primary-evidence coverage is not yet sufficient for BUY.
Chongqing Brewery Co., Ltd. remains WATCHLIST: current price/base FV is 0.57, but primary-evidence coverage is not yet sufficient for BUY.
Chongqing Brewery remains below the quality threshold; the memo keeps AVOID because current price/base FV is 1.21.
Chongqing Brewery has strong cash flow and dividends, but growth is moderate and the buy price is not reached.
Hengrui Medicine is rated Avoid with a 64/100 quality score and a current/base FV ratio of 3.31.
Hengrui Pharma is an avoid for this round: quality score 64/100, current price/base FV 3.22.
Hengrui Pharmaceuticals is an AVOID name: quality score 64/100, current price/base FV 3.28.
Hengrui Medicine is an AVOID name: quality score 64/100, current price/base FV 3.25.
Hengrui Medicine is a WATCHLIST name: quality score 74/100, current price/base FV 2.90.
Hengrui Medicine: AVOID, quality 64/100, price/base FV 3.36, base FV 16.48 CNY.
Jiangsu Hengrui Pharmaceuticals Co., Ltd.: WATCHLIST, quality 70/100, price/base FV 3.33, base FV 16.7CNY.
Hengrui Medicine: AVOID, quality 64/100, price/base FV 3.23, base FV 16.477CNY.
600276.SH does not clear the quality, cash-flow, or evidence gate for purchase in this review.
Jiangsu Hengrui Pharmaceuticals Co., Ltd. remains AVOID: current price/base FV 4.18, with conservative/base FV 10.79/13.33 CNY.
Jiangsu Hengrui Pharmaceuticals Co., Ltd. remains AVOID: current price/base FV 4.05, with conservative/base FV 10.79/13.33 CNY.
Jiangsu Hengrui Pharmaceuticals remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 3.88.
Hengrui quality is improving through innovation, but FCF-based valuation is still far below spot price.
Kweichow Moutai is rated Watchlist with a 83/100 quality score and a current/base FV ratio of 2.76.
Kweichow Moutai remains on the watchlist: quality score 83/100, current price/base FV 2.87.
Kweichow Moutai is a WATCHLIST name: quality score 83/100, current price/base FV 2.85.
Kweichow Moutai is a WATCHLIST name: quality score 83/100, current price/base FV 2.72.
Kweichow Moutai is a WATCHLIST name: quality score 89/100, current price/base FV 1.51.
Kweichow Moutai: WATCHLIST, quality 83/100, price/base FV 2.75, base FV 474.27 CNY.
Kweichow Moutai Co., Ltd.: WATCHLIST, quality 88/100, price/base FV 1.61, base FV 824.62CNY.
Kweichow Moutai: WATCHLIST, quality 83/100, price/base FV 2.64, base FV 474.2719CNY.
600519.SH remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Kweichow Moutai Co., Ltd. remains WATCHLIST: current price/base FV 1.32, with conservative/base FV 583.96/910.28 CNY.
Kweichow Moutai Co., Ltd. remains WATCHLIST: current price/base FV 1.32, with conservative/base FV 583.96/910.28 CNY.
Kweichow Moutai remains excellent; the memo keeps WATCHLIST because current price/base FV is 1.21.
Moutai is one of China’s strongest consumer assets, but spot price is above base FV and there is no 2x signal.
Shanxi Fenjiu is rated Watchlist with a 79/100 quality score and a current/base FV ratio of 1.48.
Shanxi Fenjiu remains on the watchlist: quality score 79/100, current price/base FV 1.52.
Shanxi Fenjiu is a WATCHLIST name: quality score 79/100, current price/base FV 1.56.
Shanxi Fen Wine is a WATCHLIST name: quality score 79/100, current price/base FV 1.51.
Shanxi Fenjiu is a WATCHLIST name: quality score 84/100, current price/base FV 0.92.
Shanxi Fenjiu: WATCHLIST, quality 79/100, price/base FV 1.53, base FV 81.47 CNY.
Shanxi Xinghuacun Fen Wine Factory Co., Ltd.: WATCHLIST, quality 79/100, price/base FV 1.17, base FV 104.58CNY.
Shanxi Fenjiu: WATCHLIST, quality 79/100, price/base FV 1.43, base FV 81.4688CNY.
600809.SH remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Shanxi Xinghuacun Fen Wine Factory Co., Ltd. remains WATCHLIST: current price/base FV 0.88, with conservative/base FV 83.36/125.72 CNY.
Shanxi Xinghuacun Fen Wine Factory Co., Ltd. remains WATCHLIST: current price/base FV 0.86, with conservative/base FV 83.36/125.72 CNY.
Shanxi Xinghuacun Fen Wine remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 0.97.
Fenjiu has high ROIC and cash assets, but price/base FV is around 0.75 and still short of BUY.
Bull Group is rated Watchlist with a 81/100 quality score and a current/base FV ratio of 1.06.
Gongniu Group remains on the watchlist: quality score 81/100, current price/base FV 1.10.
Bull Group is a WATCHLIST name: quality score 81/100, current price/base FV 1.09.
Bull Group is a WATCHLIST name: quality score 81/100, current price/base FV 1.01.
Gongniu Group: WATCHLIST, quality 82/100, price/base FV 1.51, base FV 25.62 CNY.
GONGNIU GROUP CO., LTD.: WATCHLIST, quality 80.3/100, price/base FV 0.97, base FV 39.55CNY.
Gongniu Group: WATCHLIST, quality 80/100, price/base FV 1.11, base FV 33.58CNY.
603195.SH remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Gongniu Group Co., Ltd. remains WATCHLIST: current price/base FV 1.34, with conservative/base FV 17.42/27.92 CNY.
Gongniu Group Co., Ltd. remains WATCHLIST: current price/base FV 1.35, with conservative/base FV 17.41/27.91 CNY.
Gongniu Group remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 1.56.
Gongniu has strong cash flow, but new energy and overseas growth have not created enough safety margin.
Haitian Flavouring is rated Watchlist with a 80/100 quality score and a current/base FV ratio of 1.82.
Haitian Flavoring remains on the watchlist: quality score 80/100, current price/base FV 1.90.
Haitian Flavouring is a WATCHLIST name: quality score 80/100, current price/base FV 1.92.
Haitian Flavouring is a WATCHLIST name: quality score 80/100, current price/base FV 1.80.
Foshan Haitian Flavouring and Food: WATCHLIST, quality 80/100, price/base FV 2.25, base FV 16.23 CNY.
Foshan Haitian Flavouring and Food Company Ltd.: WATCHLIST, quality 78.8/100, price/base FV 1.54, base FV 24.1CNY.
Foshan Haitian Flavouring: WATCHLIST, quality 76/100, price/base FV 1.11, base FV 32.4CNY.
603288.SH remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Foshan Haitian Flavouring and Food Co., Ltd. remains WATCHLIST: current price/base FV 2.05, with conservative/base FV 11.41/16.49 CNY.
Foshan Haitian Flavouring and Food Co., Ltd. remains WATCHLIST: current price/base FV 2.07, with conservative/base FV 11.41/16.49 CNY.
Foshan Haitian Flavouring remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 2.61.
Haitian is an excellent condiment leader, but current price remains far above FCF-based base FV.
G-bits is rated Buy with a 83/100 quality score and a current/base FV ratio of 0.59.
G-bits Network Technology is a buy candidate: quality score 83/100, current price/base FV 0.59.
G-bits Network Technology is a BUY name: quality score 83/100, current price/base FV 0.60.
G-bits is a BUY name: quality score 83/100, current price/base FV 0.54.
G-bits Network Technology: WATCHLIST, quality 78/100, price/base FV 0.97, base FV 367.38 CNY.
G-bits Network Technology (Xiamen) Co., Ltd.: WATCHLIST, quality 74/100, price/base FV 0.76, base FV 462CNY.
G-bits Network Technology: WATCHLIST, quality 80/100, price/base FV 1.11, base FV 306.67CNY.
603444.SH remains a watchlist-quality business, but the current price does not provide enough margin of safety.
G-Bits Network Technology (Xiamen) Co., Ltd. remains WATCHLIST: current price/base FV 0.81, with conservative/base FV 293.17/447.34 CNY.
G-Bits Network Technology (Xiamen) Co., Ltd. remains WATCHLIST: current price/base FV 0.80, with conservative/base FV 293.17/447.34 CNY.
G-bits Network Technology remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 1.10.
G-bits generates strong cash and dividends, but game lifecycle risk keeps it below the excellent-company threshold.
M&G Stationery is rated Watchlist with a 82/100 quality score and a current/base FV ratio of 0.63.
M&G Stationery remains on the watchlist: quality score 82/100, current price/base FV 0.66.
M&G Stationery is a WATCHLIST name: quality score 82/100, current price/base FV 0.65.
M&G Stationery is a WATCHLIST name: quality score 82/100, current price/base FV 0.63.
Shanghai M&G Stationery: WATCHLIST, quality 72/100, price/base FV 0.98, base FV 22.94 CNY.
Shanghai M&G Stationery Inc.: WATCHLIST, quality 70.5/100, price/base FV 0.91, base FV 24.66CNY.
Shanghai M&G Stationery: WATCHLIST, quality 80/100, price/base FV 1.11, base FV 19.71CNY.
603899.SH remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Shanghai M&G Stationery Inc. remains WATCHLIST: current price/base FV 0.68, with conservative/base FV 20.28/31.62 CNY.
Shanghai M&G Stationery Inc. remains WATCHLIST: current price/base FV 0.68, with conservative/base FV 20.28/31.62 CNY.
Shanghai M&G Stationery remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 0.90.
M&G has decent stationery and Kolipu cash flow, but margin decline and slower growth cap rerating.
Eastroc Beverage is rated Watchlist with a 84/100 quality score and a current/base FV ratio of 1.51.
Eastroc Beverage remains on the watchlist: quality score 84/100, current price/base FV 1.59.
Eastroc Beverage is a WATCHLIST name: quality score 84/100, current price/base FV 1.67.
Eastroc Beverage is a WATCHLIST name: quality score 84/100, current price/base FV 1.58.
Eastroc Beverage: WATCHLIST, quality 79/100, price/base FV 1.67, base FV 78.52 CNY.
Eastroc Beverage (Group) Co., Ltd.: WATCHLIST, quality 78.5/100, price/base FV 1.58, base FV 80.06CNY.
Eastroc Beverage: WATCHLIST, quality 83/100, price/base FV 1.11, base FV 111.99CNY.
605499.SH remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Eastroc Beverage (Group) Co., Ltd. remains WATCHLIST: current price/base FV 1.94, with conservative/base FV 37.16/62.74 CNY.
Eastroc Beverage (Group) Co., Ltd. remains WATCHLIST: current price/base FV 2.04, with conservative/base FV 37.16/62.74 CNY.
Eastroc Beverage remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 2.08.
Eastroc has strong energy-drink growth, but current price already capitalizes too much of the base FCF case.
Kingsoft Office is rated Watchlist with a 82/100 quality score and a current/base FV ratio of 3.02.
Kingsoft Office remains on the watchlist: quality score 82/100, current price/base FV 3.12.
Kingsoft Office is a WATCHLIST name: quality score 82/100, current price/base FV 3.07.
Kingsoft Office is a WATCHLIST name: quality score 82/100, current price/base FV 2.74.
Kingsoft Office: WATCHLIST, quality 78/100, price/base FV 2.72, base FV 88.17 CNY.
Beijing Kingsoft Office Software, Inc.: WATCHLIST, quality 79.5/100, price/base FV 2.62, base FV 93.25CNY.
Kingsoft Office: WATCHLIST, quality 78/100, price/base FV 1.11, base FV 201.15CNY.
688111.SH remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Beijing Kingsoft Office Software, Inc. remains WATCHLIST: current price/base FV 3.36, with conservative/base FV 45.11/69.57 CNY.
Beijing Kingsoft Office Software, Inc. remains WATCHLIST: current price/base FV 3.13, with conservative/base FV 45.11/69.57 CNY.
Kingsoft Office remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 3.06.
Kingsoft Office is a high-quality office-software and AI collaboration asset, but current market value requires long-term high growth.
Advanced Micro Devices is rated Watchlist with a 82/100 quality score and a current/base FV ratio of 7.45.
Advanced Micro Devices remains on the watchlist: quality score 82/100, current price/base FV 7.46.
AMD is a WATCHLIST name: quality score 82/100, current price/base FV 7.33.
AMD is a WATCHLIST name: quality score 82/100, current price/base FV 7.62.
AMD is a WATCHLIST name: quality score 67/100, current price/base FV 12.20.
Advanced Micro Devices, Inc.: WATCHLIST, quality 69/100, price/base FV 10.90, base FV 46.19USD.
Advanced Micro Devices: WATCHLIST, quality 82/100, price/base FV 7.63, base FV 64.9603USD.
AMD remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Advanced Micro Devices, Inc. remains WATCHLIST: current price/base FV 15.86, with conservative/base FV 21.47/35.18 USD.
Advanced Micro Devices, Inc. remains WATCHLIST: current price/base FV 14.71, with conservative/base FV 21.47/35.18 USD.
Advanced Micro Devices, Inc. remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 5.52.
Amazon is rated Avoid with a 64/100 quality score and a current/base FV ratio of 41.46.
Amazon is an avoid for this round: quality score 64/100, current price/base FV 42.91.
Amazon is an AVOID name: quality score 64/100, current price/base FV 44.44.
Amazon is an AVOID name: quality score 64/100, current price/base FV 37.76.
Amazon is rated AVOID: quality score 64/100, current price/base FV 24.36.
Amazon.com, Inc.: WATCHLIST, quality 72/100, price/base FV 7.36, base FV 33.97USD.
Amazon: AVOID, quality 64/100, price/base FV 40.35, base FV 6.1273USD.
AMZN does not clear the quality, cash-flow, or evidence gate for purchase in this review.
Amazon.com, Inc. remains AVOID: current price/base FV 11.79, with conservative/base FV 14.04/20.81 USD.
Amazon.com, Inc. remains AVOID: current price/base FV 11.71, with conservative/base FV 14.04/20.81 USD.
Amazon.com, Inc. remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 3.22.
Broadcom is rated Watchlist with a 81/100 quality score and a current/base FV ratio of 5.65.
Broadcom remains on the watchlist: quality score 81/100, current price/base FV 5.18.
Broadcom is a WATCHLIST name: quality score 81/100, current price/base FV 5.14.
Broadcom is a WATCHLIST name: quality score 81/100, current price/base FV 5.06.
Broadcom is a WATCHLIST name: quality score 76/100, current price/base FV 9.27.
Broadcom Inc.: WATCHLIST, quality 80/100, price/base FV 7.01, base FV 53.95USD.
Broadcom: WATCHLIST, quality 81/100, price/base FV 4.90, base FV 75.6646USD.
AVGO remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Broadcom Inc. remains WATCHLIST: current price/base FV 7.58, with conservative/base FV 26.64/52.8 USD.
Broadcom Inc. remains WATCHLIST: current price/base FV 7.36, with conservative/base FV 26.64/52.8 USD.
Broadcom Inc. remains excellent; the memo keeps WATCHLIST because current price/base FV is 3.98.
Alphabet is rated Watchlist with a 82/100 quality score and a current/base FV ratio of 4.66.
Alphabet remains on the watchlist: quality score 82/100, current price/base FV 4.91.
Alphabet is a WATCHLIST name: quality score 82/100, current price/base FV 4.68.
Alphabet is a WATCHLIST name: quality score 82/100, current price/base FV 4.29.
Alphabet is a WATCHLIST name: quality score 82/100, current price/base FV 3.86.
Alphabet Inc.: WATCHLIST, quality 86/100, price/base FV 3.23, base FV 108.9USD.
Alphabet Inc.: WATCHLIST, quality 81/100, price/base FV 3.43, base FV 101USD.
GOOGL remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Alphabet Inc. remains WATCHLIST: current price/base FV 3.30, with conservative/base FV 70.25/108.26 USD.
Alphabet Inc. remains WATCHLIST: current price/base FV 3.34, with conservative/base FV 70.25/108.26 USD.
Alphabet Inc. remains excellent; the memo keeps WATCHLIST because current price/base FV is 2.66.
Microsoft is rated Watchlist with a 81/100 quality score and a current/base FV ratio of 6.40.
Microsoft remains on the watchlist: quality score 81/100, current price/base FV 6.24.
Microsoft is a WATCHLIST name: quality score 81/100, current price/base FV 5.95.
Microsoft is a WATCHLIST name: quality score 81/100, current price/base FV 2.73.
Microsoft Corporation: WATCHLIST, quality 87/100, price/base FV 3.05, base FV 127.87 USD.
Microsoft Corporation: WATCHLIST, quality 89/100, price/base FV 3.01, base FV 133.81USD.
Microsoft: WATCHLIST, quality 83/100, price/base FV 1.11, base FV 354.44USD.
MSFT remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Microsoft Corporation remains WATCHLIST: current price/base FV 2.56, with conservative/base FV 91.05/150.37 USD.
Microsoft Corporation remains WATCHLIST: current price/base FV 2.55, with conservative/base FV 91.05/150.37 USD.
Microsoft Corporation remains excellent; the memo keeps WATCHLIST because current price/base FV is 1.80.
Nvidia is rated Watchlist with a 80/100 quality score and a current/base FV ratio of 3.51.
NVIDIA remains on the watchlist: quality score 80/100, current price/base FV 3.24.
NVIDIA is a WATCHLIST name: quality score 80/100, current price/base FV 3.15.
Nvidia is a WATCHLIST name: quality score 80/100, current price/base FV 3.08.
NVIDIA Corporation: WATCHLIST, quality 86/100, price/base FV 3.82, base FV 55.58 USD.
NVIDIA Corporation: WATCHLIST, quality 90/100, price/base FV 3.31, base FV 61.38USD.
NVIDIA: WATCHLIST, quality 83/100, price/base FV 1.11, base FV 182.53USD.
NVDA remains a watchlist-quality business, but the current price does not provide enough margin of safety.
NVIDIA Corporation remains WATCHLIST: current price/base FV 4.93, with conservative/base FV 26.28/42.76 USD.
NVIDIA Corporation remains WATCHLIST: current price/base FV 4.77, with conservative/base FV 26.28/42.76 USD.
NVIDIA Corporation remains excellent; the memo keeps WATCHLIST because current price/base FV is 2.02.
Tencent Holdings remains on the watchlist: quality score 76/100, current price/base FV 1.38.
00700.HK remains a watchlist-quality business, but the current price does not provide enough margin of safety.
Tencent Holdings Limited remains WATCHLIST: current price/base FV 1.52, with conservative/base FV 203.22/315.3 HKD.
Tencent Holdings remains excellent; the memo keeps WATCHLIST because current price/base FV is 1.47.
Tencent remains a high-quality platform asset, but the share price is near base FV and does not meet the buy-discount discipline.
Tencent has very high platform cash-flow quality, but spot price is slightly above base FV.
CMS remains on the watchlist: quality score 75/100, current price/base FV 1.46.
China Medical System is a WATCHLIST name: quality score 75/100, current price/base FV 1.48.
China Medical System: WATCHLIST, quality 75/100, price/base FV 1.51, base FV 8.10 HKD.
China Medical System Holdings Limited remains WATCHLIST: current price/base FV 1.00, with conservative/base FV 7.59/11.88 HKD.
China Medical System Holdings Limited remains WATCHLIST: current price/base FV 1.01, with conservative/base FV 7.57/11.84 HKD.
China Medical System remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 1.26.
China Medical System has a verified cash position, but falling FCF and profit make spot price too high versus base FV.
Anta Sports remains on the watchlist: quality score 84/100, current price/base FV 0.60.
ANTA Sports is a WATCHLIST name: quality score 84/100, current price/base FV 0.60.
02020.HK meets the BUY threshold on quality and valuation, with primary-source follow-up still required.
ANTA Sports Products Limited remains WATCHLIST: current price/base FV is 0.59, but primary-evidence coverage is not yet sufficient for BUY.
ANTA Sports Products Limited remains WATCHLIST: current price/base FV is 0.59, but primary-evidence coverage is not yet sufficient for BUY.
ANTA Sports remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 0.76.
ANTA is a leading sportswear platform with strong growth and FCF, but price to base FV is still not a BUY.
Hithink RoyalFlush Information Network Co., Ltd.: WATCHLIST, quality 78/100, price/base FV 2.94, base FV 76.61 CNY.
Hithink RoyalFlush Information Network Co., Ltd. remains WATCHLIST: current price/base FV 3.04, with conservative/base FV 52.7/74.23 CNY.
Hithink RoyalFlush remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 4.07.
RoyalFlush is a very high-quality internet financial information platform, but spot price is far above base FV.
Meta Platforms, Inc.: WATCHLIST, quality 84/100, price/base FV 2.16, base FV 298.83USD.
Meta Platforms, Inc. remains WATCHLIST: current price/base FV 2.07, with conservative/base FV 183.5/291.22 USD.
Meta Platforms, Inc. remains excellent; the memo keeps WATCHLIST because current price/base FV is 1.90.
Oracle Corporation: AVOID, quality 60/100, price/base FV 14.42, base FV 8.42USD.
Oracle is publishable after the debt fields were completed, but FY2026 FCF turned negative, total debt rose to USD 156.19bn, and current price/base FV is 3.16.
Oracle Corporation remains below the quality threshold; the memo keeps AVOID because current price/base FV is 6.04.
Palantir Technologies Inc.: WATCHLIST, quality 76/100, price/base FV 7.05, base FV 19.14USD.
Palantir Technologies Inc. remains WATCHLIST: current price/base FV 11.61, with conservative/base FV 8.02/11.39 USD.
Palantir Technologies Inc. remains good but still watchlisted; the memo keeps WATCHLIST because current price/base FV is 7.16.
No matching reports.