Boya Zhen

Hong Kong

+852 3743 8774

Boya Zhen joined Jefferies’ China/HK Consumer Team in September 2019. Prior to this, Boya had nearly two years’ equity research experience, primarily focused on the China Consumer discretionary and HK Retail sectors. Boya graduated from USC with a MSc in Financial Engineering. She passed all three levels of the CFA Program and is a FRM charterholder.

What I am Known For

  • A focus on growth drivers, earnings quality, FCF and ROIC.
  • Update investors with latest industry/market trends and key fundamental implications via channel checks and observations.

How I am Different

  • Proya (603605 CH, BUY)
    Proya 2Q results indicated a beat vs. market cons, which implied Proya continued to demonstrate its capabilities as a leading local brand amid a challenging macro. We reiterate Buy as we anticipate Proya’s rising brand share momentum to continue. Proya remains a top pick in China’s beauty sector
  • Roborock (688169 CH, BUY)
    2Q GPM expanded thanks to larger contribution from US online and EU Amazon, as well as cost control in raw materials and tech. China sales +SD%, EU +DD%, APAC sustained rapid growth and US +50%.

Key Research Highlights

Upcoming Corporate & Strategic Access

  • Conferences: YUMC, Prada, CTF, Budweiser, Miniso at Jefferies Asia Forum (Mar 2024), CTF (May 2024), Samsonite (Jul 2024), CRB (Aug 2024) Hengan (Aug 2024), Miniso (Sept 2024),
  • Expert events: Post National GW expert call series on shopping mall, gold & jewelry, Macau gaming, restaurants etc. (Oct 2024), China Consumer Day: Updates before China Food and Drinks Fair (Oct 2024), Pop toy industry update call (Sept 2024)