China Investment Conference 2022
HOLT®
HOLT® is Credit Suisse’s leading equity analysis and valuation tool that provides investors with unique insights into a company's performance, valuation, future expectations, and risk considerations using a database of over 20,000 companies across 70 countries.
Latest reports
HOLT: Providing smarter investment decisions
Learn more about the four significant enhancements in HOLT Lens: the 4-Factor Discount Rate, Factor Library & Scorecard Enhancement, Bloomberg Integration and the new Segment Valuation Module.
Introducing the HOLT Sustainability Suite
The HOLT Sustainability Suite combines financial and ESG metrics to help assess a company’s business model. It allows investors to assess how ESG issues can impact corporate performance, capital allocation, financial flexibility, and valuation.
HOLT Global Viewpoint: Market paradigm shift: New headwinds for economic profit compounders
We look at Economic Profit Compounders and highlight that chasing these stocks carries more risk than in the past because 1) the pool of EP Compounders is likely to shrink given rising rates and inflation and 2) the valuation premium of EP Compounders is high. We screen for Fading Winners and for Future Winners.
HOLT® APxJ Insights: Identifying quality companies within the APxJ internet & software sectors
If markets move lower towards a recession, consensus forecast CFROI could be at risk of further downgrades, resulting in higher likelihood of rotating from value into quality names. This report looks at quality growth and quality defensive stocks, which have lagged the market, in particular focusing on the internet & software sector in APxJ & China.
HOLT® China A-shares Consumer Sector Insights: Searching for quality and value opportunities
China A-shares market is forecast for stronger CFROI® improvement than the broader APxJ market in 2023. consumer staples and consumer discretionary are among the sectors leading the improvement. The two matrixes in this market commentary show where these consumer companies sit based on their operational quality and valuation relative to history.
HOLT® China Real Estate Sector Insights: Property management industry – valuation snapshot + accounts receivable turns
The China property management industry is forecast to deliver a CFROI improvement of 400bps by 2023 while the market implied CFROI is at a decade low. HOLT P/E has also contracted since early 2021, coinciding with the rising financial risk for China developers.
HOLT® China Insights: Identifying opportunities within the China internet sector
The China Internet sector is expected to see forecast CFROI improve from 7.6% in 2021 to 9.3% in 2023. Regulatory pressures have seemingly eased and share price sentiment has improved. From a valuation standpoint, the premium to the broader China market has narrowed over the last 18m, and trades at a discount to US peers on a HOLT P/B basis.
HOLT® China Insights: Benchmarking China's EV supply chain
This HOLT market commentary benchmarks companies in China's EV supply chain. The companies are forecast to achieve CFROI of 12% in 2023, higher than that of the broader China market and Korea EV sector. After a share price correction from Oct 2021 to May 2022, the HOLT market implied yield has reverted to the sector’s five year median level.
