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.

China & HK Strategy: Assessing Placement Risks, Who Needs Money?

China New Higher Education (2001 HK): 2.2x PE, 22% Yield, Worth Taking the Risk?

Shenzhen Intl (152 HK): Realisation of Asset Values

China Education Group (839 HK): On Balance, Worth a Bet Now

China East Education (667 HK): Rock Solid Improvements

Thematic (Sector/Industry)

China Industrials / Thematic (Sector/Industry)

<ul>
<li>There are 26 companies with dividend yields of over 9% in FY25 based on consensus forecasts. With the slowdown in the US rate cut, they look attractive this year.</li>
<li>The top 5 are <a href="https://www.smartkarma.com/entities/china-new-university" target="_blank" data-smartkarma-citation="entities:23626:1" rel="noopener">China New Higher Education (2001 HK)</a>, <a href="https://www.smartkarma.com/entities/greentown-management-holdings" target="_blank" data-smartkarma-citation="entities:28895:1" rel="noopener">GreenTown Management (9979 HK)</a>, <a href="https://www.smartkarma.com/entities/lever-style-corporation" target="_blank" data-smartkarma-citation="entities:35760:1" rel="noopener">Lever Style (1346 HK)</a>, <a href="https://www.smartkarma.com/entities/paradise-entertainment-ltd" target="_blank" data-smartkarma-citation="entities:3437:1" rel="noopener">Paradise Entertainment (1180 HK)</a>, and <a href="https://www.smartkarma.com/entities/pacific-textiles-holdings" target="_blank" data-smartkarma-citation="entities:12638:1" rel="noopener">Pacific Textiles (1382 HK)</a>. </li>
<li>Key risks are their small-cap nature, potential issues with corporate governance, and low earnings quality when compared with banks and telcos.</li>
</ul>


There are 26 companies with dividend yields of over 9% in FY25 based on consensus forecasts. With the slowdown in the US rate cut, they look attractive this year.
The top 5 are China New Higher Education (2001 HK), GreenTown Management (9979 HK), Lever Style (1346 HK), Paradise Entertainment (1180 HK), and Pacific Textiles (1382 HK). 
Key risks are their small-cap nature, potential issues with corporate governance, and low earnings quality when compared with banks and telcos.
