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>Despite its recent rally, <a target="_blank">Meituan (3690 HK)</a> still lags the HSI YTD. For FY26-27F, it will be the sector's main growth driver. Its P/B is 1SD below the 5-year average.</li>
<li>It is disciplined in AI investments, focusing on operational efficiency, cost control, new business capabilities, and long-term strategic positioning. </li>
<li>Its portfolio of investments equals 9.5% of market capitalisation, and includes high-profile names like <a href="https://www.smartkarma.com/entities/moonshot-ai" target="_blank" data-smartkarma-citation="entities:46606:1" rel="noopener">Moonshot AI (MOONSHOTAI HK)</a>, <a href="https://www.smartkarma.com/entities/unitree-robotics" target="_blank" data-smartkarma-citation="entities:48008:1" rel="noopener">Unitree Robotics (UNITREE CH)</a>, etc.</li>
</ul>


Despite its recent rally, Meituan (3690 HK) still lags the HSI YTD. For FY26-27F, it will be the sector's main growth driver. Its P/B is 1SD below the 5-year average.
It is disciplined in AI investments, focusing on operational efficiency, cost control, new business capabilities, and long-term strategic positioning. 
Its portfolio of investments equals 9.5% of market capitalisation, and includes high-profile names like Moonshot AI (MOONSHOTAI HK), Unitree Robotics (UNITREE CH), etc.


2026 High Conviction Update: Meituan (3690 HK) - Disciplined AI Beneficiary