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.

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Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/haier-smart-home-co-ltd-b3ef445f-0f54-4586-8c58-9073de98d60e" target="_blank" data-smartkarma-citation="entities:31105:1" rel="noopener">Haier Smart Home Co Ltd (6690 HK)</a> sees mid-to-high single digit revenue growth for 5M22; and with many cities out of lockdown now, the re-acceleration trend is gathering pace. </li>
<li>China market experienced lesser cost pressure than overseas, with its gross margin expanded on a YoY basis. Cost containment measures should help to preserve flat YoY overseas margin.  </li>
<li>Reliance on property market has reduced, with growth mainly comes from upgrade demand. Its high-end brand Casarte stays as a growth engine with 5M22 revenue recording double-digit increase. </li>
</ul>



Haier Smart Home Co Ltd (6690 HK) sees mid-to-high single digit revenue growth for 5M22; and with many cities out of lockdown now, the re-acceleration trend is gathering pace. 
China market experienced lesser cost pressure than overseas, with its gross margin expanded on a YoY basis. Cost containment measures should help to preserve flat YoY overseas margin.  
Reliance on property market has reduced, with growth mainly comes from upgrade demand. Its high-end brand Casarte stays as a growth engine with 5M22 revenue recording double-digit increase. 


Haier Smart Home (6690 HK): Still Looking for a Decent Year