Added 2 positions recently. However both are small positions, they add up to a total of around 4.6% of the portfolio.

Added

Yuexiu Services (6626 Hkex)

and

Pacific Basin (2343 Hkex) , part of the 10% moomoo trading game.

Divested

Logan Property (3380 Hkex) , part of the 10% moomoo trading game as it made a 10% loss.

Rationale of adding Yuexiu Services 

  1. Uniqueness – Integrated Metro Property Management with the ability to manage a huge range from train stations/ train depots to shopping malls and residential property.

  2. Strong Shareholder – With Guangzhou govt being a shareholder, it is likely a strong front-runner for future government property management projects

3.Attractive Valuation – Based on 2020 PE, it is trading at around 31 PE, which is definitely not attractive for a relatively smaller size property management company, However, considering that it has improved revenue by 75.4% and gross profit by 93.9% in the first 4 months of 2021 compared to 2020