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I've invested in payment-based technology platform -

Yeahka - 9923 in HK
Yeahka - 9923.HK

Massive growth in number of customers and TPV.

Triple digit revenue growth; long runway.
Yeahka - 9923.HK

Strong revenue growth; GAAP profitability and healthy adj. operating margin and net profit.
Yeahka - 9923.HK

Breakdown of revenue for each segment -
Yeahka - 9923.HK

Gross profit and margin profile for each business segment -

I have a position.
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Puru Saxena
@saxena_puru
1) I became active on FinTwit in Feb '19 and since then, many have questioned my investment strategy and criticised me for owning unprofitable and overvalued 'bubble' stocks.

We are passing through the worst crisis/recession in decades and here are the YTD returns of my stocks -
2) Here are the YTD returns of my remaining stocks -

Chart from @ycharts
3) Finally, here are the YTD returns for the popular indices.

For months, I was told that my 'bubble' stocks were high risk; that they were ticking time bombs! And how a diversified approach was way better than my 'tech' portfolio.

Well, you can be the judge.

Chart - @ycharts
Read 4 tweets
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Puru Saxena
@saxena_puru
Ecommerce, online payments and SaaS are early stage secular growth areas and they are likely to grow for years.

Penetration rates are still quite low and these industries make life easier, both consumers and companies *need* these services and they save them both time + money.
Ecommerce = more choice, cheaper and more convenient. Who doesn't want this?

Online payments = make ecommerce possible

SaaS = increased productivity, cost savings for companies, security. Which biz doesn't want this?

These companies are asset light, compounding machines.
Finally, these businesses are "sticky", either due to network effects and/or switching cost which means their customers tend to stay.

Best of all, these customers buy relatively small ticket items, repeatedly and for long periods of time, both during booms and busts.
Read 4 tweets
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Puru Saxena
@saxena_puru
1) Note of caution -

My YTD return is *not* normal; neither is it sustainable!

Lets just say that a number of factors came together all at once (the stars aligned); so it is more luck than skill.

For instance, COVID-19 triggered a waterfall...
2)...decline which suited my hedging style and handed me large profits near the March-low, cash which I happily invested at depressed prices in the leading growth stocks.

Hedging doesn't normally result in large profits; this was indeed a 'once-in-a few decades' type crash! ...
3) Secondly, COVID-19 suddenly benefited my companies and pulled forward the ongoing secular trends, which was also sheer luck.

Finally, due to improved business prospects and recurring revenues, my stocks were seen as 'safe havens' during this severe economic storm...
Read 4 tweets

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