Value Praya

Biting off more than I can chew

[Value Praya @ValuePraya]

7 days, 7 writeups, 30k words on one of the cheapest sectors anywhere in the world. Starting today with an industry primer and overview of 25 companies you've (probably) never heard of. Link in bio.

[Value Praya @ValuePraya]

@MikeFritzell @CompaCompu Have you noticed if theres any trend with chinese origin/local restaurants using them (trend in hk is chinese brands use these awful chinese platforms with english/credit cards etc bodged on somehow worse than claude would do, locals use local/intl platforms)

[Value Praya @ValuePraya]

@MikeFritzell @CompaCompu Its not alipay its minsheng banks merchant acquiring biz. I guess desperately acquiring intl customers at any cost after domestic take rates went to 0 (thanks to alipay/wechatpay duopoly)

[Value Praya @ValuePraya]

$ZH investing 1.5bn RMB (224m USD) in Deepseek. Current market cap? 250m USD

[Tongtong Bee 🐝 @tongtongbee]

砺思资本募了新基金主要投资DeepSeek，关账约 75.2 亿，看了下41个LP，基本不在AI产业链，来自五花八门的赛道。

大额来自：知乎 15 亿、浙创 14 亿、B站 5 亿、蜜雪冰城 5 亿。

再往下看跨界更明显，听说圈外的老板们非常FOMO，抢着要投，早就准备好现金随时打款：

永钢集团｜钢铁｜2 亿
紫金矿业 | 矿业 | 2亿
汤臣倍健｜保健品｜5000 万
众望布艺｜家纺｜5000 万
特宝生物｜生物药｜公司 1 亿；董事蓝柏林个人另 2 亿
完美世界｜游戏｜5000 万
新荣记｜餐饮｜ 4000 万

这笔投资能不能赚钱不好说，但是老板们拿到AI船票，内心应该踏实了。

[Value Praya @ValuePraya]

@phil_hk @GlobalStockPick @llepen Its the same building, there was some drama about fake conservation because they basically just kept the facade and gutted everything else

[Value Praya @ValuePraya]

@phil_hk @GlobalStockPick @llepen Its kwah they bought out the ura

[Value Praya @ValuePraya]

@kjoules >2016, Startup founded in HK
>2019, HK bans crypto for retail, forced to move to SG.
>2023, HK changes course and make crypto legal for retail again, lets apply for license
>2026, license still not granted after 3 years, give up. 20bn USD valuation.

#innovationandtechnologyhub

[Value Praya @ValuePraya]

@Jam_invest @ReturnsJourney Why would the controlling shareholder sell shares cheaply instead of paying divs tax free, or privatising cheaply

[Value Praya @ValuePraya]

@Healthstockpick @DaBao_ @Vincentchen0816 Now do the value of an after tax HK income spending in Shenzhen

[Value Praya @ValuePraya]

@pandawatch88 This feels VERY personal

[Value Praya @ValuePraya]

@MikeFritzell Do you find a need to use Pangram? I can usually tell fairly easily just reading it, and in the odd case where I can't tell I figure they guided enough effort/thought into it that it's mostly their thoughts/acceptable

[Value Praya @ValuePraya]

@willschoebs Go for it, start the japanese nubank!

[Value Praya @ValuePraya]

@MattJMcClintock @hwwlee Alo also opening in Hysan LG2 just doen the road. As for that specific Nike its closed, was operated by Royal Sporting House which has fully exited HK after being acquired by GMG, not so much to do with Nike itself (though the directly operated Nike Lab in CWB also run terribly)

[Value Praya @ValuePraya]

@pandawatch88 Flee to japan or whoever is being boycotted this year

[Value Praya @ValuePraya]

@bauhiniacapital Theres a pretty cool abandoned building just across the road, tucked behind the school

[Value Praya @ValuePraya]

@smartkarma Careful with lung fung, theyre being bid by retail because they started scalping pokemon card packs, but the latest Pokémon release seems to have way more supply than before which is pressuring scalpers

[Value Praya @ValuePraya]

@HistorianZhang @kjoules Press releases

[Value Praya @ValuePraya]

@johnherbert @0dongfeng It's HK... Will end up being housing in the end, just look at cyberport. Bigger question why anyone would want to live there at all when you have the same commute as crossing the border daily

[Value Praya @ValuePraya]

@TheLongHappy Weird its meituan and not their international brand keeta

[Value Praya @ValuePraya]

@pandawatch88 SAME I went to make a withdrawal wearing my hoodie, full face sun mask and sunglasses (got to protect against fisheye wrinkles) and the bank called the police on me can you believe that?

[Value Praya @ValuePraya]

@ChesleyCapital Too dangerous to allow people 75% dividends, better to stick with palantir at 75x P/S
(After the runup I wouldnt buy it now anyway, stub is trading at ~15x which is pretty lofty)

[Value Praya @ValuePraya]

Fresh off the press: a whopping 75% special div coming out of Left Field (and stub is still cheap)

[Value Praya @ValuePraya]

As promised, the full writeup on Left Field Printing ($1540.hk) is now live on my new substack, link in bio. More writeups to come!