Country Garden Services (6098 HK): 1H23 Profit Warning A Good Read-Across For The Sector

Analyst

Steve

Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/times-neighborhood-holdings" target="_blank" data-smartkarma-citation="entities:28666:1" rel="noopener">Times Neighborhood (9928 HK)</a> is a China property management company headquartered in the Big Bay Area, trading at 3x 2023 P/E and below net cash.</li>
<li>China property management as a sector has lost most of its value given close relationship with China property.  However, there are still some investable property management companies.</li>
<li>Upcoming catalysts include interim results in August, potential favorable policies in China property sector, and potential shareholder actions.  </li>
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Times Neighborhood (9928 HK) is a China property management company headquartered in the Big Bay Area, trading at 3x 2023 P/E and below net cash.
China property management as a sector has lost most of its value given close relationship with China property.  However, there are still some investable property management companies.
Upcoming catalysts include interim results in August, potential favorable policies in China property sector, and potential shareholder actions.  


Times Neighborhood (9928 HK): China Property Play With High Margin of Safety