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.

Xinhua Winshare (811 HK): On Track to Sustain Stable & Secured Yield

Xinhua Winshare (811HK): 3Q19 Is Another Decent Quarter

Xinhua Winshare (811 HK): We like the Net Cash Cushion - 68% of Share Price

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/15072" target="_blank" data-smartkarma-citation="entities:15072:1">Xinhua Winshare Publishing&amp;Media (811 HK)</a> provides a state of calm amid the current market volatility through its stable earnings stream from book publishing and distribution.  Supported by such earnings, the company has been paying annual DPS of Rmb0.30 consecutively for nine years since 2010. At 6.2% prospective dividend yield, XW's share is currently attractively priced, in our view. Its publishing and distribution businesses are domestically focused, not affected by the US-China trade war and do not expose to the slowdown in China's economy. While such businesses are not expected to generate significant capital gain in the near term, upside may come in the long term from positive demographic trend and the company's strategic initiatives. </p>

Xinhua Winshare Publishing&amp;Media (811 HK) provides a state of calm amid the current market volatility through its stable earnings stream from book publishing and distribution.  Supported by such earnings, the company has been paying annual DPS of Rmb0.30 consecutively for nine years since 2010. At 6.2% prospective dividend yield, XW's share is currently attractively priced, in our view. Its publishing and distribution businesses are domestically focused, not affected by the US-China trade war and do not expose to the slowdown in China's economy. While such businesses are not expected to generate significant capital gain in the near term, upside may come in the long term from positive demographic trend and the company's strategic initiatives. 

Xinhua Winshare (811 HK): Secured 6.2% Yield Rock Solid in the Waves