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's Export Outlook 2023: How Port, Shipping and Logistics Fare?

China Shipping Sector: Impacts of the Termination of 2M Alliance

Orient Overseas Intl (316 HK): Still Not Too Late to Be Bearish

Sinotrans (598 HK): Still a Very Decent Performance

Sinotrans (598 HK): From Strength to Strength

Sinotrans (598 HK): How Much Value Can Be Unlocked from Its First REIT?

Sinotrans (598 HK): Another Very Promising Quarter

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sinotrans-limited-h" target="_blank" data-smartkarma-citation="entities:1321:1" rel="noopener">Sinotrans (598 HK)</a> delivered sustained healthy earnings in 3Q22, with reported profit rose 32.7% and recurring one up 13.2%. They are resilient given the adverse market environment.</li>
<li>Gross margin expansion and higher gross profit showed that lower freight rate has not had significant impact on profitability. DHL-Sinotrans' contribution also recovered sequentially.</li>
<li>It cancelled the 0.62% of shares that it bought back, providing enhancement to forward EPS. The 9M22 result equals 91% of full-year consensus, suggesting room for earnings upgrade.</li>
</ul>



Sinotrans (598 HK) delivered sustained healthy earnings in 3Q22, with reported profit rose 32.7% and recurring one up 13.2%. They are resilient given the adverse market environment.
Gross margin expansion and higher gross profit showed that lower freight rate has not had significant impact on profitability. DHL-Sinotrans' contribution also recovered sequentially.
It cancelled the 0.62% of shares that it bought back, providing enhancement to forward EPS. The 9M22 result equals 91% of full-year consensus, suggesting room for earnings upgrade.


Sinotrans (598 HK): Showing Its Sustained Resilience