Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 15 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Takeaways from the Times Neighborhood Investment Debacle

Times Neighborhood: An Explosive Growth Option in the Property Management Space

China Property Management - Sector Deep Dive and Evaluation Framework

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/times-neighborhood-holdings" target="_blank" data-smartkarma-citation="entities:28666:1" rel="noopener">Times Neighborhood (9928 HK)</a> is a direct beneficiary of the favorable policies published by The Ministry of Housing and Urban-Rural Development (MOHURD). In his insight, <a href="https://www.smartkarma.com/insights/china-property-management-services-green-light-to-grow" target="_blank" data-smartkarma-citation="insights:46805" rel="noopener">China Property Management Services - Green-Light to Grow</a>, <a href="https://www.smartkarma.com/profiles/zhen-zhou-toh" target="_blank" data-smartkarma-citation="accounts:673" rel="noopener">Zhen Zhou Toh</a> detailed the policies that will benefit the property management service companies.
<a href="https://www.smartkarma.com/entities/times-neighborhood-holdings" target="_blank" data-smartkarma-citation="entities:28666:1" rel="noopener">Times Neighborhood (9928 HK)</a> has corrected 40% from its peak of 13.30 HKD/share and has underperformed the MSCI index since September 2020, despite executing well and raising guidance that its earnings will grow 73% CAGR from 2019-2022e. ( Vs. previous guidance of 69%).  Based on its guidance, the stock trades at 16x FY21 and 11x FY22 ( and PEG of 0.2x).
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/181/612/original/image_25054916241610186672083.png?1610186676" class="editor-image img-responsive" data-smartkarma-image-id="181612"></figure>
Source: Bloomberg, Share price in HKD
With tailwinds on policy, we see an easy path for the company to recover to its highs of 13.30 HKD/share.

Times Neighborhood (9928 HK) is a direct beneficiary of the favorable policies published by The Ministry of Housing and Urban-Rural Development (MOHURD). In his insight, China Property Management Services - Green-Light to Grow, Zhen Zhou Toh detailed the policies that will benefit the property management service companies.
Times Neighborhood (9928 HK) has corrected 40% from its peak of 13.30 HKD/share and has underperformed the MSCI index since September 2020, despite executing well and raising guidance that its earnings will grow 73% CAGR from 2019-2022e. ( Vs. previous guidance of 69%).  Based on its guidance, the stock trades at 16x FY21 and 11x FY22 ( and PEG of 0.2x).

Source: Bloomberg, Share price in HKD
With tailwinds on policy, we see an easy path for the company to recover to its highs of 13.30 HKD/share. 

Times Neighborhood: Beneficiary of Policy