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PXGYF - PAX Global Technology - High Conviction Bet In The Cashless Economy
Pax Global Technology Ltd
Investment thesis
Pre-COVID, we have initiated a position inPAX Global (PXGYF) (stock quotes 0327 on the Hang Seng stock exchange) on the basis that it has successfully pivoted from a failed Chinese-only Point-of-Sales ('POS') manufacturer to a truly global player in just a matter of 5 years. PAX is now the top POS seller in Latin America and winning higher-margin businesses in the US, Europe, and Asia.
The bet on PAX is also a bet on a secular growth in the cashless economy. Readers may be scratching their heads as to why