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.

China Comm Const (1800 HK): Grossly Undervalued by the Market

China Comm Const (1800 HK): Accelerating New Contract Wins

China Comm Const (1800 HK): Key Takeaways from Post-1H22 Call

China Comm Const (1800 HK): Well Placed for an Upturn

China Comm Const (1800 HK): Taking Meaningful Steps to Reduce Debt

China Comm Const (1800 HK): Exciting New Contract Momentum Fuels Outlook

China Comm Const (1800 HK): Sustaining a Stable Track in 3Q21

Equity Bottom-Up

China Communications Construction / Equity Bottom-Up

China Communications Construction (1800 HK)

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<li>
<a href="https://www.smartkarma.com/entities/china-communications-construction-co-ltd" target="_blank" data-smartkarma-citation="entities:265:1" rel="noopener">China Communications Construction (1800 HK)</a> targets for at least 6% growth in revenue with slight operating margin expansion for FY22; and these should sustain its stable growth trend. </li>
<li>It will increase focus on "big city" projects where there are more opportunities. We think its target of at least 11.8% new contract value growth in FY22 is conservative.</li>
<li>Reduction in losses at concessionary projects, improvement in operating cash flow and lowering of gearing levels all indicate that CCCC is moving in the right direction.</li>
</ul>



China Communications Construction (1800 HK) targets for at least 6% growth in revenue with slight operating margin expansion for FY22; and these should sustain its stable growth trend. 
It will increase focus on "big city" projects where there are more opportunities. We think its target of at least 11.8% new contract value growth in FY22 is conservative.
Reduction in losses at concessionary projects, improvement in operating cash flow and lowering of gearing levels all indicate that CCCC is moving in the right direction.


China Railway Construction Corp (1186 HK)

China Comm Const (1800 HK): Takeaways from Post-FY21 Result Call