Onewo (2602 HK) – 1H23 Earnings Missed.
We think the controversial topic of bidding contract with capital investment is actually a good strategy given the reasons explained below.
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China Property Sector – FY22 review: if and only if Binjiang Service
In this sector report, we initiate Binjiang service as Top pick on management’s good track record, 30% growth profile, stable parentco (63% sales...
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Onewo (2602 HK) – Let Onewo Town Surprise you
In 2022, Onewo has increased its number of Onewo Town to 584 (459 in 2021) with 38 projects finished. Management targeted another 100+ Onewo Town...
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China Property Service Sector – 2023 a year for market leaders and survivors
We are positive towards PM sector in 2023 as it is the key beneficiary of both housing completion push (GFA gain) and reopening (Community VAS), so...
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Onewo (2602 HK) – Why market underpriced and over-concerned about Onewo?
Onewo is a top residential/commercial property management firm in China. We think the market is underpricing Onewo’s dominant advantage over major...
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