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.

Shenzhen Intl (152 HK): Delivered as Promised

Shenzhen Intl (152 HK): Realisation of Asset Values

Shenzhen Intl (152 HK): Good News from Positive Profit Alert

Equity Bottom-Up

Shenzhen International / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shenzhen-international-holdings-limited" target="_blank" data-smartkarma-citation="entities:9:1" rel="noopener">Shenzhen International (152 HK)</a>'s loss-making 1H26 is disappointing, but looking ahead, the potential profit recovery in 2H26 is more important.  </li>
<li>It may potentially book a significant gain from the South China Logistics Park transformation in 2H26, possibly leading to an attractive dividend yield of 8.7%.</li>
<li>Its 0.33x 12-month forward P/B, 2SD below average, has already discounted the market concerns. Stripping out <a href="https://www.smartkarma.com/entities/shenzhen-expressway-co-ltd" target="_blank" data-smartkarma-citation="entities:340:1" rel="noopener">Shenzhen Expressway (600548 CH)</a> , its other assets are free. </li>
</ul>



Shenzhen International (152 HK)'s loss-making 1H26 is disappointing, but looking ahead, the potential profit recovery in 2H26 is more important.  
It may potentially book a significant gain from the South China Logistics Park transformation in 2H26, possibly leading to an attractive dividend yield of 8.7%.
Its 0.33x 12-month forward P/B, 2SD below average, has already discounted the market concerns. Stripping out Shenzhen Expressway (600548 CH) , its other assets are free. 


Shenzhen Intl (152 HK): Look Beyond the History