China

[hillfronter83]

https://www.ft.com/content/1e9e7544-974c-4662-a901-d30c4ab56eb7

 

 

[rogermunibond]

That FT article is pretty inaccurate.

 

[Hektor]

15 minutes ago, hillfronter83 said:

https://www.ft.com/content/1e9e7544-974c-4662-a901-d30c4ab56eb7

I feel this might be a fall out of the gov cutting Ma to size. People with the means would look to take them elsewhere. Doing so has been the norm for ages.

[hillfronter83]

32 minutes ago, rogermunibond said:

That FT article is pretty inaccurate.

 

 

It seems that FT reported data from ITJUZI and the founder got a call from government :). Of course the data is probably not complete. But there is no doubt it is the trend for the last a few years. Jack Ma is still not back in China. Bloomberg reported some bankers got detained and passports are taken away from bank employees. On top of that, I saw some places real estate price is back to more than 10 years ago and there is no sight of bottom. Things will get worse before they get any better.

[hillfronter83]

This is the statistics of retirement fund distribution in 2023 from a local county in China.

It basically says: RMB785 million for 8778 Government retirees at RMB89428/person; RMB369 million for 13220 SOE retirees at RMB27912/person; RMB251 million for 119400 other retirees at RMB2102/person.

 

There is a reason the Chinese system collapses every a few hundred years. 

 

[Spekulatius]

I mentioned Anta a few times and their recent result were quite impressive given the state of the Chinese consumer. Mid teens sales growth and a 25% profit margin are quite good.

 

Its not deep value , but if the business grows and the share price stagnates or worse, those business get cheaper and more interesting. I also think they have the wind at their back, because the Chinese consumer increasingly prefer Chinese goods/ brands over the likes of Nike etc.

https://manager.wisdomir.com/files/394/2024/0827/20240828095726_67345600_en.pdf

Edited Monday at 10:59 AM by Spekulatius