HRnetGroup

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#41
(29-06-2022, 03:15 PM)Muser Wrote: Growing rev and profits, strong mgmt/promoter, consistent high ROE, +ve free cash flows, good biz model of co-owner biz heads, diversified across geographies & brands

Even a conservative DCF value points to $1.1 or more.

What can go wrong with this biz?

Will their business be adversely affected by a big drop in Company hiring during the coming global recession? Better to buy it when the recession has caused things to bottom out?
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#42
PeopleSearch Shanghai - HRnetGroup 30th Anniversary:

https://www.youtube.com/watch?v=zaG15_gy2IY
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#43
PeopleSearch Japan - HRnetGroup 30th Anniversary:

https://www.youtube.com/watch?v=wdrFieijVik
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#44
Recruitment is an ever-green business and there will always be companies which outsource this to agencies. Recession comes and goes, so I think an investor should take this into account rather than discounting the business entirely.

Arguably, the biggest factor driving the earnings of a business is its leader, and maybe market is discounting this aspect of HRN.
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#45
SIAS – HRnetGroup Limited Investor Day: 25 October 2022

https://youtu.be/Mt8CSJvHA44?t=4389

Interesting part on PEs offering 250 mil for 25% stake.
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#46
HRnetGroup share buybacks seems become much more aggressive:

Nov 4 - 420,000 out of 428,900 volume
Nov 7 - 80,000 out of 82,600 volume
Nov 8 - 350,000 out of 376,000 volume
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#47
Interesting that Mgt actually gave such specific guidance in the AGM Q&A. I think the shareholder got more than asked for!

RESPONSES TO SHAREHOLDERS’ AGM QUESTIONS

Question: With the Bank failure (Credit Suisse collapse) and looming global recession as well as inflationary environment, how will these impact our operations in Asia?

Answer: The global recessionary sentiment has impacted our business across the region in Q1. We see some recovery in Q2 and that 1H performance is likely to be significantly lower than that of same time last year. However, 2H performance will have a good chance of stronger performance than 1H.

https://links.sgx.com/FileOpen/HRnetGrou...eID=755576
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#48
(26-04-2023, 03:55 PM)weijian Wrote: Interesting that Mgt actually gave such specific guidance in the AGM Q&A. I think the shareholder got more than asked for!

RESPONSES TO SHAREHOLDERS’ AGM QUESTIONS

Question: With the Bank failure (Credit Suisse collapse) and looming global recession as well as inflationary environment, how will these impact our operations in Asia?

Answer: The global recessionary sentiment has impacted our business across the region in Q1. We see some recovery in Q2 and that 1H performance is likely to be significantly lower than that of same time last year. However, 2H performance will have a good chance of stronger performance than 1H.

https://links.sgx.com/FileOpen/HRnetGrou...eID=755576

After giving more than asked for, shareholders continue to ask for more specific guidance during the AGM itself.

I understand that 2H performance in FY2023 is likely to surpass 1H. How about 2H in FY2023 vs FY2022?

On page 21 of the AR, the last sentence "We will keep fighting to do great work, and deliver yet another highly profitable year in 2023." Latest response to shareholder question, "1H performance is likely to be significantly lower than that of same time last year" 1. How significant is significant? more than 30% drop? 2. With this update, how confident are you to deliver another HIGHLY profitable year?

https://links.sgx.com/FileOpen/HGL_20230...eID=760332
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