Value Partners (Trades, Portfolio), an international firm that looks thoroughly at a company before investing. The firm uses a "Three R" approach: making sure it's the Right business, the Right price and has the Right people working there.
The firm currently owns 49 stocks and has a quarter over quarter turnover of 55%. As of December 2014, there were 16 new positions added to the portfolio.
Luye Pharma Group Ltd (HKSE:02186)
Value Partners (Trades, Portfolio) purchased 92,272,000 shares of Luye at an average price of HK$10.02 a share.
According to the DCF calculator, Luye's intrinsic value is HK$10.64 a share and has a 3% margin of safety. The position is currently trading at HK$10.36 a share, which indicates it may be undervalued.
As indicated in the chart above, revenue has been increasing since 2007. Revenue per share for the trailing 12 months as of January 2014 was HK$4.41, and its growth rate for the past 10 years was 45.10% a year.
China Life Insurance Co (HKSE:02628)
The firm added 19,133,000 shares of China Life Insurance to its portfolio during 4Q2014 at an average price of HK$24.47 a share.
According to the DCF calculator, the stock's intrinsic value is HK$17.94 and is currently trading at HK$38.10 a share, which indicates it may be overvalued.
Earnings per share for the trailing 12 months was HK$1.43. The P/E ratio is currently 26.73.
Ping An Insurance (Group) Co. of China Ltd. (HKSE:02318)
The firm purchased 6,899,500 shares of the position at an average price of HK$64.98 a share. Ping offers life, property and casualty insurance and was established in 1988 in Shekou, Shenzhen.
According to the DCF calculator, Ping has an intrinsic value of HK$131.73. The position is currently trading at HK$111.30, which indicates it may be undervalued.
Earnings per share for the trailing twelve months as of December 2014 was HK$5.87. The P/E ratio is 18.95.
Other additions to the firm's portfolio include: CGN Power Co Ltd (HKSE:01816, Financial), China Mobile Ltd (HKSE:00941, Financial), Tencent Holdings Ltd (HKSE:00700, Financial), SIIC Environment Holdings Ltd (SGX:5GB, Financial), Far Eastern Department Stores Ltd (TPE:2903, Financial).
For a complete list of new buys and increases/reductions in stakes, click here.
