Revenues Not Telling The Story For ETS Group Limited (HKG:8031) After Shares Rise 111%

The article analyzes the recent surge in ETS Group's stock price and its elevated Price-to-Sales (P/S) ratio compared to the Hong Kong Professional Services industry. It notes that while the company's revenue has grown, its momentum is weaker than the industry forecast. The author expresses concern that the high P/S ratio may not be justified by the company's fundamentals, especially given its slower recent growth rates. The article suggests that investors might be overpaying for the stock unless there's a significant improvement in the company's performance, and points out two warning signs in their investment analysis.