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.

CIMC Enric (3899 HK): Mispriced, with Good Upside

CIMC Enric (3899 HK): A Laggard That Is Poised to Revive

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cimc-enric-holdings-ltd" target="_blank" data-smartkarma-citation="entities:47:1" rel="noopener">CIMC Enric Holdings (3899 HK)</a>'s ROE will increase to 12% and 13.1% in FY26 and FY27, justifying a higher P/B than its current 1.6x. </li>
<li>Its steel-coke projects will be growing contributors, as three new projects are expected to commence operations this year and next.</li>
<li>The backlog orders of Rmb30.7bn are enough to cover the FY26F revenue. Its venture into aerospace equipment supplies will add another interesting angle.</li>
</ul>



CIMC Enric Holdings (3899 HK)'s ROE will increase to 12% and 13.1% in FY26 and FY27, justifying a higher P/B than its current 1.6x. 
Its steel-coke projects will be growing contributors, as three new projects are expected to commence operations this year and next.
The backlog orders of Rmb30.7bn are enough to cover the FY26F revenue. Its venture into aerospace equipment supplies will add another interesting angle.


CIMC Enric (3899 HK): More Room for Upside?