Sales
Novodisk (NVO): Sold all a week later after buying, at slight loss
The sale was due to afterthoughts on 1) more competitors in the space, 2) US govt trying to reduce the price of medicine and 3) my lack of knowledge in this space.
Golden Throat (6896.HK): Sold all at $3.81; at 15% loss.
The sale was after a profit warning of >30% decline in earnings, which was unexpected. I decide to sell first.
Ping An (2318.HK): Sold all my remaining stake at close to $56.
The sale was to raise cash for buying other stocks, and Ping An's 1H 2025 was not great.
Purchases
361 Degree (1361.HK): Started a small position at $6.
The company manufacture and sell footwear at affordable prices mainly to lower-tier cities in China. Its high-tier running shoes has some good reviews though. I bought a pair of its running shoes and found it very suitable for long walks (>10km). The downside is that it has some coporate governance issues in 2019 - 2021. In particular, it has issues in remitting cash out of China to repay its overseas loan in 2021.
Infinity Dev (640.HK): Started a small position at $1.21
It manufactures and sell adhesives for footwear manufacturers. The purchase is bought as a dividend play. Dabao (a very good investor) has a substack post on this company.
BYD (1211.HK): Started a position at ~$105
I view BYD as a growth play and a potential next Ford / Toyata, given its model of selling low-cost cars at scale. Downside is that EV industry is in volatile stage where the end winners are unknown.
Greggs (GRG.L): Started a very small position at $15.72
Greggs operates quick service restuarants in UK, selling baked food. It out-ranked Mcdonald in morning sales. Its share price has fallen more than 50% due to lower profit arising from increased cost pressures. I believe that Greggs will eventually recover but the recovery may take time. Downside to me is that I don't live in UK and hence cannot form a good view on how good/bad Greggs' food / service is.
Others
Chagee (CHA)
Its net income in 2Q 2025 was down 90% due to share-based compensation after a successful IPO. The large decline seems to be one-off. Also, its same store sales (esp in China) fell, as it did not discount its product and participate in the food delivery platform battle in China. Its share price has cratered after its 2Q 2025 results. I decide to hold the stock and wait for future earnings releases before assessing again on whether to add / sell the stock. Personally, I have ignored my rule of 'not buying stock that just IPO-ed within a year' when I bought Chagee. Perhaps this is a lesson for not sticking to my rule.
Current View
In recent weeks, I am less engaged in following the market, as I am more interested in doing other stuff.
HK market has cooled down a bit from its recent high. The US Fed has cut interest rate by 25 basis points and there may be more cuts down the road.
I have no idea of how the market will perform in future or what the interest rates will be in future. For now, I will add more to a few of existing positions if price drops and sell one or two existing positions to raise cash for the purchase (if any).
