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 New Higher Education (2001 HK): Stays Cheap at 1.7x PER and 0.3x P/B

China East Education (667 HK): Rock Solid Improvements

China East Education (667 HK): Getting More Interesting

China & HK Strategy: Which Stocks Will Thrive?

Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/china-east-education-holdings" target="_blank" data-smartkarma-citation="entities:27843:1" rel="noopener">China East Education (667 HK)</a> remains well-positioned in the government's support of vocational education, despite its YTD outperformance.</li>
<li>Higher average tuition per student, better cost control, accelerating growth in the "Fashion and Beauty" segment,  and new course introduction are the main profit drivers.</li>
<li>Net cash equals 17.2% of the share price, while other peers are struggling with debt repayment. Coupled with stronger earnings CAGR, its premium PERs are justified.</li>
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China East Education (667 HK) remains well-positioned in the government's support of vocational education, despite its YTD outperformance.
Higher average tuition per student, better cost control, accelerating growth in the "Fashion and Beauty" segment,  and new course introduction are the main profit drivers.
Net cash equals 17.2% of the share price, while other peers are struggling with debt repayment. Coupled with stronger earnings CAGR, its premium PERs are justified.


China East Education (667 HK): In an Excellent Position