 Good day fellow investors. Today I'm going to discuss a stock that is growing at more than 50% a year. Last quarter it was just 70%. Has a price-to-earnings ratio below 10, I think it's around 8 now, and pays a dividend, where the dividend yield is around 5%. You don't believe me? Well, stay tuned in order to see more and learn more about that stock. Now there is a very interesting old Wall Street book that's called Where Are The Customers Yachts? So where are the rich customers on Wall Street? That was the question back in the 1930s that is still the question now. We see the power of Wall Street and we see the big buildings, the big corporations, we see a lot of money going around there, but we don't see rich customers that much as rich bankers. So the best way to invest is to be invested alongside rich bankers alongside Wall Street, because whatever happens, if it is a good Wall Street company, they get the fee when you sell, when you buy. They always get fees, fees, fees. If they don't get too greedy to start playing on their own, they can never go bankrupt and they'll constantly get fees. So Wall Street is already established, but a new Wall Street is growing in China. And I will discuss today UPI Holdings, which is a Chinese wealth management firm. The Chinese wealth management business, as the Chinese are getting richer and richer, as there is more and more money around, as the economy is developing, the need for such products, for financial investments, for wealth management products is getting bigger and bigger, especially in a hot market like China. Thus, if you are a wealth management firm and you do okay, your profits, your revenues will be huge. Here we can see that the number of high-network individuals in China is growing extremely fast. We are at 16 percent and the number of high-network households is expected to almost double by 2020. And also they are wealth, so a lot more money to manage. What's especially important is that Chinese high-network individuals are attracted to alternative aggressive investments, especially the newly rich. So they are greedy and when you look for alternative investments, it means you have to pay a nice fee because the wealth management company has to seek such investments for you, which is good for UPI holdings. For the future, especially very interesting growth potential is overseas investment. UPI has some overseas offices, but that's for the future when regulation will be lifted and Chinese will be more allowed to invest abroad. What's very important for Chinese high-network individuals is that the company has expertise, has a strong brand and trust, service, personal relations and so on. So if you show that, you can really succeed with Chinese high-network individuals. Okay, let's see what does UPI do. UPI is a third-party wealth management service provider focusing on distributing wealth management products and providing product advisory to high-network individuals in China. This means third-party wealth management means that they are an intermediate, so they don't take risks, they just take fees, the perfect business model. They have now a network of 72 client centers in 44 Chinese cities and here you can see the growth of the transaction value 100% per year. Year-on-year growth was 52% in Q4 2016. Now the last results show 70% growth. The number of active clients is growing extremely fast and when you combine all this growth with what will happen in China, the potential for UPI is huge. It's really one of those stocks that you would say, okay, this stock can really become a 10-20 beggar without issues. If we check UPI's geographical presence, we can see that focused there where the wealth is on the coast, but will be growing and they constantly increase their wealth management centers. If you remember I said that the most important thing is trust for Chinese clients and you can see that UPI is constantly gaining some awards, increasing its reputation and trust among clients. Now the price was subdued for a long time, the stock price, because investors on Wall Street were afraid that the management will buy out the company at low premium. However, as you can see here, the price rallied since the last two weeks. So perhaps we are looking at an unlocking of value with UPI and this rally can really go much further, especially if it goes to a PE ratio of 30, 40, 50 that would suit the company that grows 50% per year. What's also interesting is that the owner of UPI was also the owner of e-house and that company was bought out at a premium of around 25%. So even if the management buys out the company, you still make 25%. So they didn't really destroy minority shareholder value in that past acquisition. Back to the growth, UPI is really growing aggressively and doing some very strategic acquisition in order to increase its service chain, let's say. So in 2015 they acquired Scepter Pacific, the holding company of e-house to increase their footprint and knowledge in real estate. Then Julius Baer investment bought in the company at $10.98 per share. So you can see that also in 2016 there were investments that were closely to the what the price is trading now. They bought UPI capital management in 2016, they bought 71% of equity in Ruinyu, an online debt transferring platform, 85% in 2016 of non-linear investment management, which is an insurance broker, Yu Cheng, and they bought 100% in Yangtzu Kangai insurance broker and they also opened the Hong Kong office in 2016 for the purpose of expansion overseas. So there is growth in the market, UPI is aggressively tackling that growth, the number of clients is growing, the number of fees, the amount of fees is growing, so it's a very, very potentially explosive investment. Let's look at the valuation, price earnings ratio is now 7.8%, the dividend yield is still good 4%, price to book value 1.6%, but what's most important about UPI is the growth, which is stellar. Most of the book value is in cash of about $5 per share, so that's also very important margin of safety in the company. Price to cash flow is very good, price to sales okay, but growing at 50% then you can imagine what's going on. Just to look at what happened in the last quarter, revenues 78.4% increase, profit 71.8% increase, 70% increase we are talking here, incredible. As for the risks, you better look my Chinese risk video where I explain what can go on in China, currency devaluation, credit migrant crisis, wealth management crisis. However, if you are a company that intermediates, you're not exposed to that market. Yes, your fees will be lower, but you will still be profitable and survive probably. So that's another margin of safety, and that's why UPI is not understood properly by the market. You have a company that earns fees and a company that's really exposed to the risks. So that's also something to think about. So be sure to check my China risk video before investing. However, I think UPI is a really, great explosive potential future investment. Looking forward to your comments below, click like if you like the content and I'll see you in the next video. Don't forget to consider subscribing if you haven't yet as there will be plenty more videos where we discuss interesting investments, the stock market, the macroeconomic environment and all you need to make rational, smart, low-risk, high-reward investment decisions. Have a great day!