Smart Share Global Limited's Bull Case Theory: A High-Conviction, Asymmetric Investment Opportunity with 20% Returns Potential.

Smart Share Global Limited (EM) is a Chinese mobile device charging network with 9.6 million power banks across 1.28 million locations. The company has shifted from an asset-heavy to an asset-light model, generating ¥200 million EBITDA annually. A bullish thesis suggests that Hillhouse Capital's $1.77 per ADS offer is superior to Trustar Capital's $1.25 per ADS bid, creating a high-conviction investment opportunity with potential returns of ~20% over 3-6 months.