Tiger Pacific’s New Investments in Chinese Stocks, Plus 1 It Sold Off

Weibo Corp (ADR) (NASDAQ:WB)

– Shares Owned by Tiger Pacific Capital (as of September 30): 93,280

– Value of Tiger Pacific Capital’s Holding (as of September 30): $4.67 million

Beijing-based microblogging service Weibo Corp (ADR) (NASDAQ:WB) was another new addition to Tiger Pacific’s portfolio during the third quarter. Shares made a huge move during the quarter, gaining almost 75%, so it’s unclear what average cost Tiger Pacific paid for its position and just how bullish the fund is at its current valuation, which includes a P/E of over 225. The social network company, which is often dubbed the Chinese version of Twitter Inc (NYSE:TWTR), has about 282 million monthly users. Unlike Twitter, Weibo is still growing rapidly, reporting 36% growth in daily active users for the second quarter, while monthly active users were up by 33%. Weibo’s growth prospects are huge, as the company currently has no competitor in China to threaten its userbase. As of the end of the third quarter, Louis Navellier’s Navellier & Associates owns 94,984 shares of Weibo Corp (ADR) (NASDAQ:WB).

YY Inc (ADR) (NASDAQ:YY)

– Shares Owned by Tiger Pacific Capital (as of September 30): 135,800

– Value of Tiger Pacific Capital’s Holding (as of September 30): $7.24 million

Tiger Pacific added real-time video and audio-based social networking company to its portfolio in the third quarter, buying 135,800 shares of the company. On Wednesday, HSBC initiated coverage of YY Inc (ADR) (NASDAQ:YY) with a ‘Buy’ rating and $61 price target, which suggests upside potential of 18%. YY reported second quarter EPS of RMB5.97 ($0.88), versus RMB5.10 reported for the same period of last year. For the full year, the company expects revenue of RMB2.00 million-to-2.10 million. The stock is down by 13.54% year-to-date. Out of the funds tracked by Insider Monkey, 18 owned $61.6 million worth of YY Inc (ADR) (NASDAQ:YY) as of the end of the second quarter.

Noah Holdings Limited (ADR) (NYSE:NOAH)

– Shares Owned by Tiger Pacific Capital (as of September 30): 1.45 million

– Value of Tiger Pacific Capital’s Holding (as of September 30): $37.87 million

Tiger Pacific reported ownership of over 1.45 million shares of the Shanghai-based wealth management services company as of September 30, down by 4% compared to a quarter earlier. Earlier this month, Noah ranked 12th on Fortune’s list of the “100 Fastest-Growing Companies“. The company said that it managed to secure the prestigious position due to its three-year performance in profit, revenue, and stock growth. On Monday, Noah said that it has entered into an investment agreement with private equity firm Sequoia Capital China, according to which Sequoia will invest RMB348 million ($51.7 million) in Noah’s asset management business by acquiring equity interests. Noah’s shares have lost 10.49% so far this year. In the second quarter, Noah reported net revenue of RMB651.7 million (US$98.1 million). Just six hedge funds tracked by Insider Monkey were long Noah Holdings Limited (ADR) (NYSE:NOAH) at the end of the second quarter.

Disclosure: None