Professional
Added to YB: 2025-07-07
Pitch date: 2025-07-01
1126.HK [neutral]
Dream International Limited
-12.84%
current return
Author Info
Night Watch Investment Management is an alternative asset manager focused on global equities, selected based on our in-depth proprietary research. Our investment style is best described as value plus catalyst. Visit their website.
Company Info
Dream International Limited, an investment holding company, designs, develops, manufactures, and sells plush stuffed toys, plastic figures, dolls, die casting products, and fabrics.
Market Cap
HKD 7.8B
Pitch Price
HKD 9.56
Price Target
N/A
Dividend
5.22%
EV/EBITDA
5.75
P/E
10.14
EV/Sales
1.10
Sector
Leisure Products
Category
value
Night Watch Investment Management Portfolio Holding: Dream International
1126.HK sold position: Korean plush toys & plastic figures manufacturer with factories in Vietnam. Bought at 4x P/E, 15% dividend yield. Cost advantage vs Chinese rivals improved when Vietnam tariffs dropped to 10%. Stock surged on rumored Labubu (Pop-Mart collectible) production. Sold at 10x P/E for ~160% return including dividends.
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