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I initiated a position in C-MER EYE(HK:3309) today, after rebalancing my top 3 counters. C-MER is one of the leading ophthalmology service providers in Hong Kong and China. Their service networks are primary based in tier 1 cities like HK, Guangzhou, Shanghai, Beijing and Shenzhen. Founder is a world renown ophthalmologist and owns 60% of the total issued shares.
Its IPO in 2018 was extremely hyped up because Tencent’s boss, Pony Ma, was one of the cornerstone. It was 1,568 times oversubscribed and share price rose nearly 5.9x to peak at $19.90. Since then it has languished for two years and is currently trading at around $6. C-MER’s China HQ is in Shenzhen, Pony Ma must have used its service before. The company is not as large as