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 Tourism and Hospitality Industry: A Year of Revenge

Trip.com (9961 HK): The Best Is yet to Come

Tongcheng Travel (780 HK): Best for Capturing Lower-Tier Cities' Growth

Fosun Tourism (1992 HK): Positive Profit Alert and Improving Outlook Guidances

Fosun Tourism (1992 HK): Well Geared Towards Global Travel Recovery

Equity Bottom-Up

<ul>
<li>Dragged by partial disposal by its parent, <a href="https://www.smartkarma.com/entities/fosun-tourism-group" target="_blank" data-smartkarma-citation="entities:27439:1" rel="noopener">Fosun Tourism (1992 HK)</a> had a bad month in Sep and its share price is now back to early-2020 level. </li>
<li>1H22 has seen good loss reduction and 2H22 outlook is on positive trend. Booking momentum at Club Med is encouraging and operational capacity will return to the 2H19 level.</li>
<li>Atlantis Sanya has experienced gradual recovery in the Golden Week after the large-scale lockdown of Sanya in Aug. Completion of Lijiang and Taicang FOLIDAY Town will boost FY23.</li>
</ul>


Dragged by partial disposal by its parent, Fosun Tourism (1992 HK) had a bad month in Sep and its share price is now back to early-2020 level. 
1H22 has seen good loss reduction and 2H22 outlook is on positive trend. Booking momentum at Club Med is encouraging and operational capacity will return to the 2H19 level.
Atlantis Sanya has experienced gradual recovery in the Golden Week after the large-scale lockdown of Sanya in Aug. Completion of Lijiang and Taicang FOLIDAY Town will boost FY23.


Fosun Tourism (1992 HK): Ride on Travel Demand and Capacity Recovery