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.

Orient Overseas Intl (316 HK): It May Be Turning

China Pair Trade Update: Long SITC Intl (1308 HK), Short OOIL (316 HK)

SITC International (1308 HK): Decently Attractive

China Pair Trade: Long SITC Intl (1308 HK), Short OOIL (316 HK)

HK Strategy: Assessing the Oil Vulnerability

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sitc-international-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:15301:1" rel="noopener">SITC International (1308 HK)</a>'s 1H26 net profit grew 7.4% despite a challenging environment. Its interim dividend payout ratio increased by 5.2pp as net cash surged. </li>
<li>The outlook remains decent as fuel, charter and port handling charges elevate freight rates. So far in 2H26, China-SE Asia and China-Korea freight rates are higher YoY. </li>
<li>The market is underestimating the 2H26 earnings, implying upgrade potential. Its 12.3x PER and 5.4x P/B are undemanding given high ROE and net cash on hand.</li>
</ul>



SITC International (1308 HK)'s 1H26 net profit grew 7.4% despite a challenging environment. Its interim dividend payout ratio increased by 5.2pp as net cash surged. 
The outlook remains decent as fuel, charter and port handling charges elevate freight rates. So far in 2H26, China-SE Asia and China-Korea freight rates are higher YoY. 
The market is underestimating the 2H26 earnings, implying upgrade potential. Its 12.3x PER and 5.4x P/B are undemanding given high ROE and net cash on hand.


ZIM Integrated Shipping Services (ZIM US)

SITC International (1308 HK): The Stock to Place Your Bets On