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.

Cofoe Medical Technology (1187 HK) IPO: Priced with Reasonable Potential Gain

Shanghai Top Numerical Control (7688 HK) IPO: Not so Appealing

Victory Giant Technology (2476 HK) IPO: It Will Be Hot

Shanghai Sunmi Technology (6810 HK) IPO: Doesn't Stand Out

Huaqin Co., Ltd (3296 HK) IPO: Marginally Attractive, at Best

Equity Capital Markets

Star Sports Medicine / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/star-sports-medicine-co-ltd" target="_blank" data-smartkarma-citation="entities:45717:1" rel="noopener">Star Sports Medicine (1609 HK)</a> is in an excellent position to gain market share from the overseas players in China, given its increased popularity among hospitals.</li>
<li>The company is expected to achieve an EPS CAGR of 21.5% between FY25 and FY28F, fueled by revenue growth and a steady expansion in gross margin.</li>
<li>Its IPO is priced at 20.1x FY26F PER. By attributing a 20% premium over the global average, it equals a fair price of HK$106.7, an upside of 8%.</li>
</ul>



Star Sports Medicine (1609 HK) is in an excellent position to gain market share from the overseas players in China, given its increased popularity among hospitals.
The company is expected to achieve an EPS CAGR of 21.5% between FY25 and FY28F, fueled by revenue growth and a steady expansion in gross margin.
Its IPO is priced at 20.1x FY26F PER. By attributing a 20% premium over the global average, it equals a fair price of HK$106.7, an upside of 8%.


Beijing Chunlizhengda Medical Instruments (1858 HK)

Beijing Chunlizhengda Medical Instruments

Shandong Weigao Orthopaedic De (688161 CH)

Beijing Chunlizhengda Medical Instruments (688236 CH)

スター・スポーツ・メディシン（1609 HK）の新規株式公開：上昇余地あり