Refer to my earlier post on Truly International (732.HK) of 1 Jun 2021: http://superphang.blogspot.com/2021/06/truly-intl732hk.html
Truly closed on 9 Jul 2021 at $2.37, up 6.76%! My paper ROI within 4 months is now 72.99%.
A lot of good developments has happened to this stock:
1. Truly announced 31 May that its 100% owned subsidiary 信利半导体Pte
Ltd has redeemed the loan amounting to $2.25 billion originally expiring on 30
Jun 2022 due to the company’s healthy free cash flow. This is something solid
for Truly. No wonder they did not want to give dividend during the FY closing
earnings announcement in March.
2. Truly announced on 2 Jul that they acquired 15.628% of its
subsidiary 信利光电 with RMB 464 million. 信利光电manufactures
touch panel products, compact camera module and fingerprint identification
modules and the company has expressed that they are confident of the future
growth of 信利光电.
3. Truly announced on 6 Jul that their unaudited revenue for 1H2021
ending 30 Jun 2021 is 6.8% more than that for 1H2020.
My original target price was $2.10 which has been met. I am still holding it tight as my technical analysis shows that the next target for Truly is $2.59.
Superphang
http://superphang.blogspot.sg
