Trading852 https://trading852.com Independent English-language research on HKEX-listed companies. Special situations, documented NAV discounts, identifiable catalysts. en Tue, 15 Apr 2026 00:00:00 +0800 Alibaba (9988.HK): EBITA Down 57%. Cloud Up 36%. This Is What Amazon Looked Like in 2014. https://trading852.com/analyses/9988-alibaba https://trading852.com/analyses/9988-alibaba Mon, 14 Apr 2026 00:00:00 +0800 Alibaba's adjusted EBITA fell 57% in Q3 FY2026. Cloud grew 36%. At HK$122.90, EV/EBIT is 10.8x while Tencent trades at 15x and Amazon at 35x. The EBITA drop is deliberate. Yadea (1585.HK): Profit +129%. EV/EBIT 6.1x. The Market Sees a Bicycle Company. https://trading852.com/analyses/1585-yadea https://trading852.com/analyses/1585-yadea Mon, 14 Apr 2026 00:00:00 +0800 Yadea's net profit grew +129% in FY2025. EV/EBIT is 6.1x against a peer range of 10-13x. The market's largest electric two-wheeler maker trades at roughly half its peer multiple. Jacobio Pharmaceuticals (1167.HK): AstraZeneca Paid US$100M for One Molecule. The Rest Trades at US$507M. https://trading852.com/analyses/1167-jacobio https://trading852.com/analyses/1167-jacobio Mon, 14 Apr 2026 00:00:00 +0800 AstraZeneca paid US$100M for one Jacobio molecule still in Phase I. The entire company trades at US$730M. Subtract net cash, the market values the rest at US$507M. Prada (1913.HK): EPS Down 74%. Revenue Up 9%. One of These Numbers Is a Distraction. https://trading852.com/analyses/1913-prada https://trading852.com/analyses/1913-prada Sun, 12 Apr 2026 00:00:00 +0800 Prada reported a -74% EPS miss in February 2026. The business grew 9%. At HKD 38.40, EV/EBIT is 9.2x against luxury peers at 15-30x. Dickson Concepts (0113.HK): The Market Is Paying You HKD 375 Million to Buy This Company https://trading852.com/analyses/0113-dickson-concepts https://trading852.com/analyses/0113-dickson-concepts Fri, 11 Apr 2026 00:00:00 +0800 Dickson Concepts holds HKD 2,729M in net cash against a HKD 2,354M market cap. A negative EV special situation with an asymmetric payoff. Six Bounces. One Break. Now the Retest. https://trading852.com/analyses/hsi-35-year-trendline https://trading852.com/analyses/hsi-35-year-trendline Fri, 11 Apr 2026 00:00:00 +0800 The Hang Seng's 35-year trendline held six times. The seventh touch broke it. Now price is retesting the line from below.