vgz1970

Bernstein, the US broker recently published a ‘Blackbook’ on China. They highlight several Chinese companies with high ROIC (their definition being > 15%). Among these names are several amazing businesses. New Oriental Education, Gree Electrical, and a couple of liquor stocks (23 names in Asia, with the bulk of them in China). As with many Chinese co.s, net cash balance sheets, revenue growth CAGRs >30%, trading at 20-30xEPS. This might be a good place to start.