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.

AVIC Shenyang (600760 CH): Heating Up on China's Combat Aircraft Demand

AVIC Shenyang (600760 CH): Defense Is Defensive

China-US Tension Escalation: Winners and Losers on Pelosi's Taiwan Visit

China Aerospace & Defense A Shares: An In-Depth Walkthrough

Thematic (Sector/Industry)

China Aerospace and defense / Thematic (Sector/Industry)

The China aerospace &amp; defense A-share sector has had a stellar performance over the last two months, logging an average of 59.5% return.  Despite their strong performance, we continue to find positive fundamentals in the sector, backed by the evolving macro-environment. We believe the following factors are the drivers of the sector: 1.) further escalation of Sino-US tension, 2.) reiteration of the importance of military strength, 3.) first successful flights of ARJ21 by the Big Three, and 4.) resilience as shown by 1H20 result announcement. We maintain our view that <a href="https://www.smartkarma.com/entities/avic-shenyang-aircraft-co-ltd" target="_blank" data-smartkarma-citation="entities:12150:1" rel="noopener">Avic Shenyang Aircraft (600760 CH)</a> and <a href="https://www.smartkarma.com/entities/aecc-aviation-power-co-ltd" target="_blank" data-smartkarma-citation="entities:2461:1" rel="noopener">AECC Aviation Power (600893 CH)</a> are the top two picks in the sector.For more background discussions, please refer to <a href="https://www.smartkarma.com/insights/china-aerospace-defense-a-shares-an-in-depth-walkthrough" target="_blank" data-smartkarma-citation="insights:38904" rel="noopener">China Aerospace &amp; Defense A Shares: An In-Depth Walkthrough</a>.

The China aerospace &amp; defense A-share sector has had a stellar performance over the last two months, logging an average of 59.5% return.  Despite their strong performance, we continue to find positive fundamentals in the sector, backed by the evolving macro-environment. We believe the following factors are the drivers of the sector: 1.) further escalation of Sino-US tension, 2.) reiteration of the importance of military strength, 3.) first successful flights of ARJ21 by the Big Three, and 4.) resilience as shown by 1H20 result announcement. We maintain our view that Avic Shenyang Aircraft (600760 CH) and AECC Aviation Power (600893 CH) are the top two picks in the sector.For more background discussions, please refer to China Aerospace &amp; Defense A Shares: An In-Depth Walkthrough. 

China Avionics Systems Co., Ltd. (600372 CH)

China Aerospace & Defense A Shares: Value After Recent Sharp Rally