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The 2014 All-China Research Team: Technology, No. 2: Chi Keung (Ken) Hui
Total appearances: 2
Analyst debut: 2013
Jefferies analystChi Keung (Ken) Hui, who leaps from runner-up to second place, is “quite experienced in the technology industry and has a good sense of the trends,” one fund manager observes. The sector advanced 22.3 percent over the 12 months through late November, while the broad market slipped 2.2 percent, and Hui has been alterting investors to the headwinds that China’s technology companies face going forward. “Following the iPhone 6 launch this year, there is a lack of exciting new products driving industry growth next year,” he says, explaining his conservatism on the sector into 2015. The uncertainty surrounding China’s macroeconomic conditions is also unfavorable for domestic demand, adds Hui, who works out of Hong Kong. His favorite name in the space is FIH Mobile, which provides integrated manufacturing services for the handset and wireless communications industries worldwide. The Langfang-based outfit, he notes, is benefiting from domestic and overseas market share gains at its Chinese smartphone customers — Huawei Technologies Co., Meizu Technology Co. and Xiaomi. Moreover, its stock “also sees strong downside protection,” since it is trading close to book value, with over 60 percent of net cash in its market capitalization, the analyst adds.