| Rank | Company | Latest price | Genuine insider signal | My read |
|---|---|---|---|---|
| 🥇 1 | Zoetis | US$75.81 | 🟢 ~US$886k bought | Extremely strong |
| 🥈 2 | Trip.com | US$41.03 | ⚪ No recent cash buys found | Neutral |
| 🥉 3 | HEINEKEN Malaysia | RM14.84 | ⚪ None verified | Neutral |
| 4 | Carlsberg Malaysia | RM13.02 | ⚪ None verified | Neutral |
| 5 | Bilibili | US$15.23 | ⚪ No director cash buying verified | Neutral |
| 6 | TravelSky | HK$8.86 | ⚪ No director buying | Institutional buying, though |
| 7 | Tongcheng Travel | HK$12.02 | 🔴 James Liang sold ~HK$50.7m | Important negative |
| 8 | Kuaishou | HK$33.66 | ⚪ Awards/options, not buying | Neutral |
| 9 | Tiger Brokers | US$5.08 | 🔴 Director sold | Negative |
1. Zoetis , The Most Interesting Setup
Price: ~US$75.81
Zoetis is currently my highest-conviction name from this group.
The company is one of the largest animal-health businesses in the world, selling medicines, vaccines and diagnostics for pets and livestock.
What caught my attention wasn’t simply that the share price had fallen dramatically.
It was what happened afterward.
Three Zoetis directors made genuine open-market purchases:
- Michael McCallister bought 3,000 shares at roughly US$77.76.
- Frank D’Amelio bought 6,650 shares at roughly US$75.39.
- Paul Bisaro bought 2,000 shares at roughly US$75.88.
Together, they invested approximately US$886,000.
Their weighted-average purchase price was roughly:
US$76.08 per share.
And Zoetis is now trading at approximately:
US$75.81.
In other words, an outside investor today can buy the shares at almost exactly the same price at which several Zoetis directors recently committed their own capital.
That is a very different signal from management simply saying that a stock looks undervalued.
They actually bought it.
Zoetis also has many qualities I want in a long-term business: strong brands, regulatory barriers, veterinarian relationships, global distribution, recurring demand and exposure to the long-term growth of pet healthcare.
The key question is whether the problems that caused the stock to fall are temporary or structural.
If they are temporary, the current valuation could prove unusually attractive.
My score: 9.2/10
2. Trip.com , My Preferred China Travel Platform
Price: ~US$41.03
Trip.com remains one of my favourite China-related businesses.
Unlike many internet platforms competing purely for screen time, Trip.com operates inside a real transaction ecosystem.
Travellers need flights.
Travellers need hotels.
Hotels and airlines need customers.
As Trip.com gains more users, it becomes more attractive to suppliers. More inventory then makes the platform more useful to travellers.
That creates a genuine network effect.
The company also benefits from strong brand recognition and enormous amounts of travel data.
There has not been significant recent open-market insider buying that I could verify.
However, founder James Liang continues to own a substantial stake in Trip.com.
That is very different from an executive owning almost nothing.
My biggest reason for ranking Trip.com highly is simply the quality of the underlying business combined with the current depressed valuation.
If Chinese travel demand normalises over time, Trip.com should remain one of the major beneficiaries.
My score: 8.5/10
3. HEINEKEN Malaysia , A Classic Cycle Opportunity
Price: ~RM14.84
HEINEKEN Malaysia has fallen almost directly onto its 52-week low.
This is where looking at stocks through economic cycles becomes useful.
Beer consumption in Malaysia and Singapore is going through a weak period.
Consumers are dealing with inflation.
Discretionary spending is softer.
People are eating and drinking out less frequently.
That naturally hurts beer volumes.
But the important question is:
Has HEINEKEN Malaysia’s competitive position deteriorated , or are we simply in a weak part of the cycle?
I lean toward the latter.
HEINEKEN Malaysia still owns powerful brands and has an exceptionally profitable distribution position.
It is also highly cash generative and historically generates very strong returns on capital.
I haven’t found meaningful open-market insider buying.
So there is no Zoetis-style confirmation.
But the valuation and cycle position make HEINEKEN Malaysia very interesting.
This is the kind of situation where I would rather buy during weak beer consumption than after volumes recover and investors become optimistic again.
My score: 8.3/10
4. Carlsberg Malaysia , Similar Thesis, Even Bigger Yield
Price: ~RM13.02
Carlsberg Malaysia belongs to almost exactly the same macro bucket as HEINEKEN Malaysia.
The beer market is weak.
Consumer spending is under pressure.
And the share price has fallen dramatically.
Carlsberg is now also sitting close to its 52-week low.
For long-term investors, this creates an interesting question.
Would I rather buy a beer company when everything looks fantastic and valuations are high?
Or buy it when consumption is weak, sentiment is poor and expectations are already low?
I generally prefer the second situation — assuming the business itself remains healthy.
Carlsberg Malaysia also has the attraction of a substantial dividend yield while investors wait for conditions to normalise.
Again, I have not identified significant genuine insider buying.
But from a cyclical-value perspective, the setup is becoming attractive.
My score: 8.1/10
5. Bilibili — The Turnaround Growth Bet
Price: ~US$15.23
Bilibili is almost exactly at its 52-week low.
But unlike many falling stocks, the business itself is not obviously collapsing.
That is what makes it interesting.
Bilibili spent years building an enormous young-user community in China but struggled to convert that engagement into profits.
Now that appears to be changing.
Advertising is growing.
Margins have been improving.
The company has turned profitable.
User engagement remains strong.
This creates an interesting transition:
Bilibili used to be a great product with poor economics.
The investment thesis today is that it may finally be becoming:
A great product with increasingly good economics.
There is no meaningful open-market insider buying that I could verify.
Recent increases in management ownership appear to have largely come from restricted shares and incentive schemes rather than executives purchasing stock with their own cash.
So the insider signal is neutral.
But at current prices, Bilibili is one of the more interesting higher-risk growth opportunities on my list.
My score: 7.8/10
6. TravelSky — Possibly the Strongest Moat Nobody Talks About
Price: ~HK$8.86
TravelSky is not exciting in the same way that Bilibili or Kuaishou are.
But its competitive position may actually be stronger.
TravelSky provides critical technology infrastructure to China’s aviation industry.
These systems sit behind airline reservations, ticketing and travel distribution.
Replacing infrastructure like this is difficult.
That creates extremely high switching costs.
From a pure economic-moat perspective, TravelSky is one of the strongest companies on this list.
The downside is growth.
This isn’t a company I expect to compound revenue at 20–30% every year.
Instead, the attraction is:
Dominant infrastructure + recurring demand + high barriers to entry + depressed valuation.
I have not found meaningful director buying.
There has been institutional accumulation, but I give that much less weight than insider purchases.
Still, TravelSky remains very interesting at current levels.
My score: 7.6/10
7. Tongcheng Travel — Cheap, but the Insider Selling Concerns Me
Price: ~HK$12.02
Tongcheng Travel initially looked extremely attractive to me.
The stock has fallen sharply.
The valuation is low.
The business continues to grow.
And Trip.com owns a large strategic stake in the company.
Tongcheng also focuses heavily on China’s mass-market and lower-tier-city travel segment, giving it a somewhat different customer profile from Trip.com.
But then I looked at the insider disclosures.
This changed my view.
Trip.com co-founder and Tongcheng director James Liang had interests associated with roughly 3.85 million Tongcheng shares that were sold during 2026.
The interesting part is the timing.
Some selling occurred around HK$18–19.
That doesn’t concern me much.
But later transactions occurred around:
HK$12.10–12.16.
Tongcheng today trades around:
HK$12.02.
In other words, a knowledgeable insider-associated position was reduced substantially at roughly today’s price.
That does not automatically mean the stock is unattractive.
People sell shares for many reasons.
But I cannot simply ignore it.
There is a big difference between:
Zoetis directors buying aggressively at today’s price
and
Tongcheng insider-related selling occurring at today’s price.
Tongcheng may still be cheap.
I simply want a larger margin of safety before buying.
My score: 7.2/10
