Tencent achieved its competitive advantage by creating a powerful ecosystem that spans across various industries such as gaming, social media, e-commerce, entertainment, and more. This ecosystem helped the company dominate the market.
I estimate BYD’s value at RMB277 per share, implying an upside of 30% from today’s price. This is derived from my DCF-based valuation using a WACC of 9.7% and a terminal growth rate of 3%.
I appeared on Bloomberg Markets today discussing the upcoming election in Thailand, the current state of the Thai economy and his thoughts on the Thai equity market. You can see the full interview from Bloomberg below.