HK/China Equity Long-Short

Osbert Tang, CFA

Osbert Tang is an equity analyst with over 20 years of experience with focuses on China transport, infrastructure, industrials and utilities sectors. He has been based in Shanghai since 2003, accumulated nearly 20 years of on-ground knowledge on the Chinese economy and financial markets, and has a wealth of contacts with China corporates and government entities. 

Osbert has received votes from top-tier institutional investors and has been a highly-ranked transport and infrastructure analyst in the Asiamoney, Institutional Investors and Greenwich surveys. In addition to his extensive experience with international investment banks including RBS, ABN AMRO (both served as Shanghai Chief Representative), Paribas Asia Equity, Maybank Kim Eng and DBS Securities, he has been a senior analyst with Moody’s Investors Service with focus on ratings of China infrastructure and related LGFV issuers. He has also worked in the area of strategic development at Sun Hung Kai Properties Limited. 

Osbert holds a BBA from the Chinese University of Hong Kong, an MBA from the University of Texas at Austin and a MSSc in Applied Psychology from the City University of Hong Kong. He was accredited with the CFA charter in 1997, and is a member of both British Psychological Society and Hong Kong Psychological Society.

Vesync (2148 HK): Proposed Privatisation at HK$5.60 Fair and Reasonable

Vesync (2148 HK): A Potential Privatisation?

Thematic (Sector/Industry)

China Industrials / Thematic (Sector/Industry)

Changan Minsheng Apll Logistics (1292 HK)

<ul>
<li>The cheap valuations of the Hong Kong market have driven an increase in privatisation activities. Stocks with profit, high net cash, and low P/B are likely candidates.</li>
<li>We discover 29 stocks with net cash more than their market capitalisation while having a P/B of below 0.5x. Many of them are small-cap stocks.</li>
<li>The cheapest five names are trading on P/B of no more than 0.2x. Also, six stocks have their major shareholders owning a significant 75% stake.</li>
</ul>


The cheap valuations of the Hong Kong market have driven an increase in privatisation activities. Stocks with profit, high net cash, and low P/B are likely candidates.
We discover 29 stocks with net cash more than their market capitalisation while having a P/B of below 0.5x. Many of them are small-cap stocks.
The cheapest five names are trading on P/B of no more than 0.2x. Also, six stocks have their major shareholders owning a significant 75% stake.


Sanai Health Industry Group Company (1889 HK)

Xinjiang Tianye Water Saving Irrigation (840 HK)