HK/China Equity Long-Short

Osbert Tang, CFA

Thematic (Sector/Industry)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/china-southern-airlines-co-ltd" target="_blank" data-smartkarma-citation="entities:1078:1" rel="noopener">China Southern Airlines (1055 HK) </a>will suffer from a higher USD rate as Trump's massive deportation plan raises inflation.  High-cash companies will better position, however.</li>
<li>The surge in tariffs on US imports of goods from China will further accelerate supply chain diversification, boosting intra-Asia trade and driving <a href="https://www.smartkarma.com/entities/sitc-international-holdings" target="_blank" data-smartkarma-citation="entities:15301:1" rel="noopener">SITC International (1308 HK)</a>. </li>
<li>
<a href="https://www.smartkarma.com/entities/cnooc-ltd" target="_blank" data-smartkarma-citation="entities:175:1" rel="noopener">CNOOC (883 HK)</a> may gain from a slowdown in the green transition in the US as oil prices are supported. <a href="https://www.smartkarma.com/entities/meitu-inc" target="_blank" data-smartkarma-citation="entities:23573:1" rel="noopener">Meitu Inc (1357 HK)</a>, given its crypto investments, will benefit. </li>
</ul>



China Southern Airlines (1055 HK) will suffer from a higher USD rate as Trump's massive deportation plan raises inflation.  High-cash companies will better position, however.
The surge in tariffs on US imports of goods from China will further accelerate supply chain diversification, boosting intra-Asia trade and driving SITC International (1308 HK). 

CNOOC (883 HK) may gain from a slowdown in the green transition in the US as oil prices are supported. Meitu Inc (1357 HK), given its crypto investments, will benefit. 


China & HK Strategy: Some Stocks for Trump Trade

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Bottom-Up

<ul>
<li>This insight discusses about comparison between the financial and operational results of <a href="https://www.smartkarma.com/entities/midea-group-co-ltd-class-h" target="_blank" data-smartkarma-citation="entities:43993:1" rel="noopener">Midea Group (300 HK)</a> , <a href="https://www.smartkarma.com/entities/haier-smart-home-co-ltd-class-h" target="_blank" data-smartkarma-citation="entities:31105:1" rel="noopener">Haier Smart Home (6690 HK)</a> and <a href="https://www.smartkarma.com/entities/gree-electric-appliances-inc-of-zhuhai" target="_blank" data-smartkarma-citation="entities:7622:1" rel="noopener">Gree Electric Appliances (000651 CH)</a> </li>
<li>It compares the domestic &amp; export performance, revenue mix and guidance for H2FY2026.</li>
<li>Finally, we discuss about valuation comparison between the companies and our view.</li>
</ul>


This insight discusses about comparison between the financial and operational results of Midea Group (300 HK) , Haier Smart Home (6690 HK) and Gree Electric Appliances (000651 CH) 
It compares the domestic &amp; export performance, revenue mix and guidance for H2FY2026.
Finally, we discuss about valuation comparison between the companies and our view.


H1FY2026 Important Comparison Points: Midea(300 HK) Vs. Haier(6690 HK) Vs. Gree Electric(000651 CH)

<ul>
<li>We compile our selection of companies across Japan,China &amp;India based on bottom-up triggers in each company post their recent quarterly/half yearly results and their guidance for remaining of the year.</li>
<li>In Japan its <a href="https://www.smartkarma.com/entities/rohm-co-ltd" target="_blank" data-smartkarma-citation="entities:2953:1" rel="noopener">ROHM Co Ltd (6963 JP)</a>,<a href="https://www.smartkarma.com/entities/suzuki-motor-corp" target="_blank" data-smartkarma-citation="entities:732:1" rel="noopener">Suzuki Motor (7269 JP)</a> &amp; <a href="https://www.smartkarma.com/entities/mazda-motor-corp" target="_blank" data-smartkarma-citation="entities:20528:1" rel="noopener">Mazda Motor (7261 JP)</a>. In China its <a href="https://www.smartkarma.com/entities/chow-tai-fook-jewellery-group-limited" target="_blank" data-smartkarma-citation="entities:549:1" rel="noopener">Chow Tai Fook Jewellery (1929 HK)</a> &amp; <a href="https://www.smartkarma.com/entities/midea-group-co-ltd-class-h" target="_blank" data-smartkarma-citation="entities:43993:1" rel="noopener">Midea Group (300 HK)</a>.</li>
<li>In India its a mix of recently listed - <a href="https://www.smartkarma.com/entities/milky-mist-dairy-food-limited" target="_blank" data-smartkarma-citation="entities:45604:1" rel="noopener">Milky Mist Dairy Food (1231D IN)</a>, <a href="https://www.smartkarma.com/entities/lalithaa-jewellery-mart-limited" target="_blank" data-smartkarma-citation="entities:56011:1" rel="noopener">Lalithaa Jewellery (LALITHAA IN)</a> , Holdco - <a href="https://www.smartkarma.com/entities/tvs-holdings-limited" target="_blank" data-smartkarma-citation="entities:16591:1" rel="noopener">TVS (TVSHLTD IN)</a> and select Auto OEs</li>
</ul>


We compile our selection of companies across Japan,China &amp;India based on bottom-up triggers in each company post their recent quarterly/half yearly results and their guidance for remaining of the year.
In Japan its ROHM Co Ltd (6963 JP),Suzuki Motor (7269 JP) &amp; Mazda Motor (7261 JP). In China its Chow Tai Fook Jewellery (1929 HK) &amp; Midea Group (300 HK).
In India its a mix of recently listed - Milky Mist Dairy Food (1231D IN), Lalithaa Jewellery (LALITHAA IN) , Holdco - TVS (TVSHLTD IN) and select Auto OEs


Shortlist of High-Conviction Ideas Across Japan, China & India – August 2026 (Post-Results)

<ul>
<li>Surging by 19.4% since the trough on 19-Apr, the HSI is now only 3.2% shy away from the psychological resistance of 20,000. We look at some potential profit-taking names. </li>
<li>Heavy-Weights like <a href="https://www.smartkarma.com/entities/meituan" target="_blank" data-smartkarma-citation="entities:26970:1" rel="noopener">Meituan (3690 HK)</a> and <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> are among the best-performing ones YTD and since the trough. Hence they are more exposed, particularly for Meituan.</li>
<li>
<a href="https://www.smartkarma.com/entities/haidilao-international-holding" target="_blank" data-smartkarma-citation="entities:27044:1" rel="noopener">Haidilao International Holding (6862 HK)</a> and <a href="https://www.smartkarma.com/entities/enn-energy-holdings-ltd" target="_blank" data-smartkarma-citation="entities:316:1" rel="noopener">ENN Energy (2688 HK)</a> are another two on the list. Their valuations are no longer inexpensive relative to 3-year earnings CAGR.</li>
</ul>


Surging by 19.4% since the trough on 19-Apr, the HSI is now only 3.2% shy away from the psychological resistance of 20,000. We look at some potential profit-taking names. 
Heavy-Weights like Meituan (3690 HK) and Tencent (700 HK) are among the best-performing ones YTD and since the trough. Hence they are more exposed, particularly for Meituan.

Haidilao International Holding (6862 HK) and ENN Energy (2688 HK) are another two on the list. Their valuations are no longer inexpensive relative to 3-year earnings CAGR.


HK Strategy: To Sell or Not to Sell, that Is the Question

<ul>
<li>Many have missed out on the 14%, or 2,300 points, rally of the HSI in the last 9 trading days. There are still several stocks that look interesting now.</li>
<li>
<a href="https://www.smartkarma.com/entities/li-auto-inc-3dbe6187-544f-40dd-b9f9-72fba9c0110e" target="_blank" data-smartkarma-citation="entities:33811:1" rel="noopener">Li Auto (2015 HK)</a>, <a href="https://www.smartkarma.com/entities/link-reit" target="_blank" data-smartkarma-citation="entities:872:1" rel="noopener">Link REIT (823 HK)</a>, <a href="https://www.smartkarma.com/entities/china-mengniu-dairy-co" target="_blank" data-smartkarma-citation="entities:354:1" rel="noopener">China Mengniu Dairy Co (2319 HK)</a>, <a href="https://www.smartkarma.com/entities/hang-lung-properties-ltd" target="_blank" data-smartkarma-citation="entities:49:1" rel="noopener">Hang Lung Properties (101 HK)</a> and <a href="https://www.smartkarma.com/entities/galaxy-entertainment-group-limited" target="_blank" data-smartkarma-citation="entities:806:1" rel="noopener">Galaxy Entertainment Group (27 HK)</a> are massive laggards YTD.</li>
<li>As they have only experienced limited rebounds from the 19-Apr trough, they are set to catch up. Also, their earnings prospects look positive this year. </li>
</ul>


Many have missed out on the 14%, or 2,300 points, rally of the HSI in the last 9 trading days. There are still several stocks that look interesting now.

Li Auto (2015 HK), Link REIT (823 HK), China Mengniu Dairy Co (2319 HK), Hang Lung Properties (101 HK) and Galaxy Entertainment Group (27 HK) are massive laggards YTD.
As they have only experienced limited rebounds from the 19-Apr trough, they are set to catch up. Also, their earnings prospects look positive this year. 


HK Strategy: Where Are the Short-Term Opportunities?

China

Haier Smart Home is a global leader in the research, development, manufacturing, and sales of smart home appliances, including refrigerators, washing machines, air conditioners, and kitchen appliances. The company also provides smart home scene solutions and related services. It was founded in 1984 and is headquartered in Qingdao, China.

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Haier Smart Home (6690 HK)

China & HK Strategy: Some Stocks for Trump Trade

A higher USD rate due to Trump's deportation plan will impact CSA. Tariff surge on US imports from China will boost SITC. CNOOC may benefit from...

Osbert Tang, CFA

H1FY2026 Important Comparison Points: Midea(300 HK) Vs. Haier(6690 HK) Vs. Gree Electric(000651 CH)

This insight discusses comparison between the financial, operational and outlook of Midea Group (300 HK) , Haier Smart Home (6690 HK) and Gree...

Sreemant Dudhoria

Shortlist of High-Conviction Ideas Across Japan, China & India – August 2026 (Post-Results)

Among the companies mentioned here, Milky Mist reported out of the court results for Q1. The stock is up 20% in last two days post results. Also...

Sreemant Dudhoria

HK Strategy: To Sell or Not to Sell, that Is the Question

HSI surges by 19.4% nearing the 20,000 resistance, potential profit-taking names include Meituan, Tencent, Haidilao, and ENN Energy due to strong...

Osbert Tang, CFA

HK Strategy: Where Are the Short-Term Opportunities?

Li Auto, Link REIT, China Mengniu, Hang Lung Properties, and Galaxy Entertainment are massive laggards YTD but the recent rebound from the trough...

Osbert Tang, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

China & HK Strategy: Some Stocks for Trump Trade

​A higher USD rate due to Trump's deportation plan will impact CSA. Tariff surge on US imports from China will boost SITC. CNOOC may benefit from...

Osbert Tang, CFA

H1FY2026 Important Comparison Points: Midea(300 HK) Vs. Haier(6690 HK) Vs. Gree Electric(000651 CH)

This insight discusses comparison between the financial, operational and outlook of Midea Group (300 HK) , Haier Smart Home (6690 HK) and Gree...

Sreemant Dudhoria

Shortlist of High-Conviction Ideas Across Japan, China & India – August 2026 (Post-Results)

Among the companies mentioned here, Milky Mist reported out of the court results for Q1. The stock is up 20% in last two days post results. Also...

Sreemant Dudhoria

HK Strategy: To Sell or Not to Sell, that Is the Question

​HSI surges by 19.4% nearing the 20,000 resistance, potential profit-taking names include Meituan, Tencent, Haidilao, and ENN Energy due to strong...

Osbert Tang, CFA

HK Strategy: Where Are the Short-Term Opportunities?

Li Auto, Link REIT, China Mengniu, Hang Lung Properties, and Galaxy Entertainment are massive laggards YTD but the recent rebound from the trough...

Osbert Tang, CFA

A higher USD rate due to Trump's deportation plan will impact CSA. Tariff surge on US imports from China will boost SITC. CNOOC may benefit from...

HSI surges by 19.4% nearing the 20,000 resistance, potential profit-taking names include Meituan, Tencent, Haidilao, and ENN Energy due to strong...