Equity Long-Short

Mo Aziz

Capital markets veteran with 25 years across sell-side and buy-side research, investor relations, and fund management. Currently publish independent equity research (Mofferies Investment Research, via Smartkarma) spanning semiconductor memory (DRAM/NAND/HBM), foundry, semiconductor equipment and advanced packaging, gold and cross-asset strategy, financials forensics, and APAC IPOs — with a standing watchlist of 190+ companies across 41 countries. Background includes deep aviation-sector expertise (airlines, airports, OEMs, lessors, air cargo, travel/OTAs). Approach centers on identifying cyclical inflection points and mispriced risk across sectors, translated into explicit, actionable calls.

Equity Bottom-Up

Beijing-Shanghai High Speed Ra / Equity Bottom-Up

Beijing-Shanghai High Speed Ra (601816 CH)

<ul>
<li>Strong cash flow and dividend visibility anchor the story, while growth stabilises and returns increasingly driven by yield and utilisation optimisation.  </li>
<li>1Q26 confirms the shift to FCF sweetspot—stable earnings, robust dividends, and FCF machine that will make it net cash within 3-4 years.</li>
<li>BUY with TP of CNY6.00 (2.5% FY26 exit dividend yield), the Company offers investors a reliable income stream, stability, and certainty of returns. </li>
</ul>


Strong cash flow and dividend visibility anchor the story, while growth stabilises and returns increasingly driven by yield and utilisation optimisation.  
1Q26 confirms the shift to FCF sweetspot—stable earnings, robust dividends, and FCF machine that will make it net cash within 3-4 years.
BUY with TP of CNY6.00 (2.5% FY26 exit dividend yield), the Company offers investors a reliable income stream, stability, and certainty of returns. 


Shanghai-Beijing High-Speed Rail (601816 CH): Strong Cash Flow Anchors the Story