There are still some Chinese stocks left on the ASX; here are 3 that are up over 100pc in 12 months
Recent years haven’t been a good time for investors in many Chinese domiciled ASX stocks, although a handful have managed to perform.
The middle of last decade saw a flurry of listings from China, many of which ended up delisted due to board turnover, difficulties getting money out of China and trouble complying with the ASX listing rules.
The most notable of these was fruit farm operator Dongfang, (ASX:DFM) which once reached a market cap over $300 million before a mass exodus of the board which led to a suspension.
After many months of silence the Hong Kong-headquartered textile and footwear manufacturer sold its assets in China in a sale that reaped US$20 million – a move that saw shares nearly triple after the announcement.
While its shares have since fallen back, Stockhead has identified three other Chinese ASX stocks which have more than doubled in the past 12 months.
One of these is Vmoto (ASX:VMT) which makes two-wheel electric vehicles. In 2020 it made a record number of sales – 21,416 units which was up 112 per cent from a couple of years prior.
The company has continued to impress investors in 2021 with arguably the biggest news being an exclusive deal with Indian travel technology company Bird Group.
Another Chinese stock on the ASX is online dating platform operator Love Group (ASX:LVE).
Rounding out the trio is mineral sands play Astron Corp (ASX:ATR). The company first listed back in 1985 but launched a Chinese business in the 1990s and has been Chinese domiciled for nearly a decade.
The company’s flagship project is a titanium and zirconium deposit in Victoria but it also has a project in Senegal as well as a processing plant in China.
While the company isn’t yet at commercial production, it hopes to complete a detailed feasibility study this calendar year.