China Education: Time to put baby back in the bath water? Brick & mortar, tertiary / vocational education stocks also hammered despite no -ve policy implications. Now big guys are batting on the front foot. See o/n from $839.HK China Education Group www1.hkexnews.hk/listedco/listc…
Osbert Tang was highlighting this into market open, and again intraday yesterday. The dust will settle, and new leadership will emerge.
Guangdong focused Edvantage $382.HK - which is also tertiary / vocational education focused has also come out with similar affirmation along with a strong profit beat. www1.hkexnews.hk/listedco/listc…
Meanwhile SaaS provider to schools $KUKE was up 4pc overnight.
So it seems the worst price action might be behind us; and leadership shifting to a) brick & mortar b) tertiary & vocational c) regulated educational institutes given: a) pricing power b) supply gap and c) inability for Chinese students to go overseas / get visas of late
Other sector where companies are coming armed with buybacks and affirmatory narrative are the China Property Management Cos (PMCs) that got smacked in a skittish market on vague reg-risk around common area advertising (not more than 2-3% of revenue at best). Interesting times!

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More from @smartkarma

21 Apr
QUAD & the China Equity Risk Premia: synchronized co-ordinated retaliation versus China. Senate Foreign Relations Committee, in a 21-1 vote Wednesday, approved a bill named “Strategic Competition Act of 2021” - This attacks a China on many fronts and has Biden backing👇🏽 (1/n)
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GRAB / ALTIMETER $AGC
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