Portfolio Review for Jan 2021

 

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For Jan 2021 I have made a total profit of S$56,413.96 from my equity investments(predominantly in HK) with an XIRR of 3,445.80%(XIRR is annualized). From my 6 years of tracking, I have made a total of S$156,056.61 from this portfolio alone.


In terms of benchmarking with STI, HKSE and World index, I seem to have made some improvement in 2021. I have started to outperform the World index. The large difference between my XIRR and TWR is due to XIRR being annualized in nature and the drastic price appreciation of some of my stocks recently.

Portfolio composition(4 index etfs and 24 stocks):


Transactions:

Sold a little Weimob(HK:2013) for 151% gain(mainly for port balancing)

Bought more CCNewLife(HK:9983) 

Commentary: 

I wrote a blog post previously about the bull market of HK's tech sector, those who haven't read can click here. The persistent bullishness makes it very hard for me to add new positions for this month. 

Manage to have three stocks in my portfolio reaching over 100% gain. Chanjet(120%), Weimob(160%) and China Youzan(135%)

Stocks that were in my watchlist but were unable to purchase: 

Vobile(HK:3738) the largest online copyright protection and content monetization Saas service provider which recently secured a stake purchase by Ant Financial. It has risen more than 1670% since 2020, it is so persistent that it has almost no correction days, been watching it surge daily since $4-5 range to the price now of $34.50. Even thought it is still tiny at 15.5bil hkd market cap, its quite hard to come to terms with the drastic price increase in such a short time frame.

Kingsoft(HK:3888) WPS developer led by Lei Jun, the founder of Xiaomi, is understated based on sum of parts and has a very good growth track. It is able to seize the opportunity and release the value of WPS and Kingsoft Cloud, driven by its leading position in office applications and acceleration of digitalization. The market value of Kingsoft (HK:3888) is only 90 billion hkd. Its the parent company of Kingsoft Office (market value over 200 billion) and Kingsoft Cloud (market value 85bil). However it has risen 80% in just two months.

With the over hyping of certain segment like electric vehicles, medical and healthcare in China, it makes me wonder how can these businesses scale as rapidly as the Saas/software segment? Many of them have Saas like valuation and some even exceeded it. In terms of electric vehicles, the competition is so intense and its basically still a physical manufacturing model. The scalability is questionable to me.

Evergrande Vehicle(HK:708) the electric vehicle subsidiary of Evergrande for example is now valued twice as much as its parent company Evergrande(HK:3333).

As for the healthcare sector, to rapidly expand, more buildings are needed to be constructed or acquired. Jinxin Fertility the stock which I previously own and sold for a 53% gain is now valued at 25x price to sale with a 105x trailing PE. Agreed that it is on a very 'assured' track and has Hillhouse increasing its stake three times, its valuation is still troubling to me.


3 comments :

  1. Dear Friend, Please see this video of XD.inc, very interesting from Bloomberg

    https://twitter.com/quicktake/status/1353918058801332231?s=11

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  2. Nice post, I read you blog and its helpful for traders!
    SBI share price

    ReplyDelete