12 Comments
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Xinyu Ru's avatar

Mainland cooling stocks trade 30-50x

Xinyu Ru's avatar

Trades 8x

Maius Partners's avatar

要拔估值得入通

PF's avatar

Great take

Xinyu Ru's avatar

Just spoke to the mgmt team at Wasion. It’s very real. I am happy to have a call with you on the thesis if you like. But datacentres revenue could be 20-33 percent of revenues. They are one of two electrical product providers to DayOne (not just in Malaysia but worldwide now). Their competitive advantage is the Siemens partnership since 2014. They get priority access to all Siemens hard to get datacentres products

Damien's avatar

I think Weichai has a better competition advantage over Yuchai in Large data center reciprocating diesel engine but highly appreciate the article.

Maius Partners's avatar

Rising tide lifts all boats. From a historical perspective, YC has a longer track record and historical shipment volumes specifically for Data Centre applications, however all Chinese player are likely winners over the longer term.

888_7th's avatar

Any corporate governance concern here? Will Hong Leong lowball the valuation at IPO?

Maius Partners's avatar

Price is what you pay, value is what you get

Xinyu Ru's avatar

GDS/Dayone cooling partner and datacentres ramp

Xinyu Ru's avatar

Have a look at Wasions latest earnings transcript