Archive - Praya’s Substack

Misunderstood and mispriced

Jan 27 •

9% yield and sky-high 70% discount to NAV,

Jan 25 •

China Motor Bus

A deep value real estate developer that actually has a catalyst?

Jan 24 •

Transport International Holdings

6x the market cap the company does its best to hide from you

Jan 23 •

Hysan Development

Luxury retail/office exposure, will outperform on a market upswing.

Jan 22 •

Hong Kong Developers

Industry primer on one of the cheapest corners of the world

Jan 21 •

Playmates Holdings

Toymaker playing hide-and-seek with 4x its market cap in properties?

Jan 20 •

December 2024

Secrets of Pinduoduo's success: Letters from the founder

Translated to English in one place for the first time

Dec 5, 2024 •

October 2024

10% yield Logistics REIT, 0.5x P/B

Unreplaceable assets at a bargain bin price.

Oct 10, 2024 •

August 2024

Argent Industrial (ART:JSX)

Underfollowed serial acquirer microcap <5x PE, compounding EPS at 25+%/annum, sensible capital allocation

Aug 16, 2024 •

May 2024

Left Field Printing (HKEX:1540)

May 24, 2024 •

This is Praya’s Substack.

May 15, 2024 •

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