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Crypto launch platform for hedge funds, Japanese lasers, steel producers and more

(Bloomberg) – Chinese steel producers, a cryptocurrency platform, Japanese lasers and parking lots, and a Vietnamese jeweler were among the bets made by Asian hedge funds at the Sohn Investment conference in Hong Kong. Management is bullish on Tokyo-listed QD Laser Inc., Marshall Wace Asia CEO Amit Rajpal supports digital broker Monex Group Inc. Rajesh Sachdeva, founding partner of Flowering Tree Investment Management, is betting on Phu Nhuan Jewelry JSC at Vietnam, while Oasis Capital management called for the merger of two of China’s largest steelmakers.Here are a selection of notable calls Thursday from the Karen Leung Foundation event: Japanese EyewearArisawa at Seiga is bullish on QD Laser, a spin-off of Fujitsu Laboratories Ltd. owns 87 patents with only 50 employees, using lasers for electronics and eyewear. Arisawa says the company’s two most exciting products include its quantum dot laser technology, which could transform chip manufacturing, and its glasses product that can help visually impaired people see by projecting scanned information directly onto the retina. He estimates that as many as 32 million people in the United States, Europe and Japan have low vision, which means vision loss that cannot be corrected with glasses or surgery. around 380% since its commercial debut in February. Rajpal de Wace is bullish on the Monex Group, which owns Coincheck, one of the largest crypto trading platforms in Japan. Future areas of investment include a non-fungible token platform, activist asset management, and blockchain investing. He estimates the stock’s fair value to be 1,700 yen, up from its current price of 763 yen The choice is to capitalize on the theme that blockchain, decentralized finance and crypto can potentially redefine finance. , including money, payments and investable asset classes. The total addressable marketplace will shift from crypto trading to remittances, supply chains, payments and ultimately become a 24 hour market with instant clearing across all financial markets. Part of that expansion will be driven by third-generation blockchain, he said. Even with the recent sale of Bitcoin and other digital currencies, Monex is still up 98% this year in Tokyo. Jewelry. He estimates that between 60% and 70% of jewelry purchases in Vietnam are “unorganized” in individual stores rather than chains, but the trend is reversing. Phu Nhuan has 30-40% of the “organized” market share, Sachdeva says. The stock has grown 23% this year, and despite being at 2018 levels, profits have increased 50% since then. Jewelry sales tend to rise after countries surpass $ 2,000 in gross domestic product. per capita, he said, adding that Vietnam was at $ 2,500. He predicts a double-digit growth rate in sales over the next few years.China SteelSeth Fischer, founder and chief investment officer at Oasis Management, is long on Bengang Group convertible bonds. His thesis is based on long-term trends and a potential acquisition of the company. China wants to reduce pollution from steelmaking to achieve its goal of carbon neutrality by 2060. It predicts consolidation in the industry and expects China’s steel demand to exceed its target soon. offer. He estimates that a 1% drop in steel production could lead to a 5% to 8% price hike. Fischer expects and supports a merger between Bengang and rival Angang Steel Co. Bengang recently revealed that its parent company had received an interest in its Angang stake. While talks between the two began in 2005, those talks could come to fruition now that the Liaoning government has said it will push for consolidation of steel in the province.Japan ParkingAnand Madduri, founder and chief investment officer at ApaH Capital Management, said Park24 Co. People need to find a parking space when buying a car in Japan. The company has secured around 750,000 places at 20,000 sites, up to four times its main competitor. Car parks in Japan contribute 50% of turnover and operating profit. Carsharing represents 27% of its activity, but 40% of its profits. The company could use its large cash flow to buy the lots operated by parent and pop companies that faced significant hardship during the pandemic. These car parks also help his carpooling business. Park24 has spent a lot to tackle Japanese companies, which are trying to reduce their fixed costs. Madduri compares Park24 to a convertible bond: the parking business is the bond floor, while the new, more profitable car-sharing company is like a warrant. He sees upside potential of 50% and more in the stock, which has jumped 28% this year. Sea Ltd. Rashmi Kwatra, founder of Six 16th Street Capital, is bullish on Sea Ltd. Barely a hidden gem, Southeast Asia’s most valuable company could triple its share with the expansion of e-commerce, fintech and games, she says. Sea Money could grow 17 times over the next five years and its franchises are undervalued with favorable winds for gambling here to stay, she said. The recent drop in the stock price – down 19% from its February high – is a great buying opportunity. Its main point is that there is something for everyone in PSPCs. There are different payment profiles for different types of investors. He added that it was up to sophisticated exchanges to consider listing these special purpose acquisition companies. Asia has a lot of capital and companies willing to go public through this route, he said. China Golf Wear Michelle Leung of Xingtai Capital supports Biem.L.Fdlkk Garment Co., a Chinese golf apparel brand. . This is an example of how Chinese companies are capitalizing on the demand for high-end, highly personalized products from young, affluent consumers. The Shenzhen-listed company has seen its shares climb 28% this year. Leung said the stock could at least double in three years, adding that there was an increase of up to 250%. She expects revenue to double in the next three years as she plans to open 300 new stores. per year, adding to the 900 it already has. in high-end shopping malls and high traffic areas such as airports. More stories like this are available at bloomberg.com


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