It is funny how previously I wrote about why I bought Koufu and here I am after more than one year, writing why I sold Koufu. If you have yet to read more about Koufu, you may refer to this post where I shared about the reasons why I bought Koufu.
I sold Koufu in two tranches. I sold half of what I owned in Koufu in November 2020 while I sold the remaining of my stake in Koufu 5 months later, just a few trading days ago. Surprisingly, I sold Koufu at the same price even 5 months have passed, while we see many recovery play stocks like Genting Singapore, SIA and SATS see their share price soared by more than 30% over the same period of time.
So What Happened to Koufu?
I would like to give a brief introduction on what happened to Koufu over the past two years. Koufu ended FY2019 with Revenue growing 6.1% to $237.5 million while Net Profit growing at 13% to $27.7 million.