Professional
Added to YB: 2024-08-13
Pitch date: 2024-08-02
0882.HK [bullish]
Tianjin Development Holdings Limited
+48.32%
current return
Author Info
Bilbel Capital is a closed family investment fund, founded in February 2022. Since its inception, the fund's returns have exceeded 700%. Sign up for the newsletter.
Company Info
Tianjin Development Holdings Limited, through its subsidiaries, supplies water, heat, thermal power, and electricity to industrial, commercial, and residential customers in the People’s Republic of China.
Market Cap
HKD 2.1B
Pitch Price
HKD 1.65
Price Target
3.50 (+43%)
Dividend
7.14%
EV/EBITDA
3.77
P/E
3.84
EV/Sales
0.61
Sector
Multi-Utilities
Category
value
Bilbel Capital Portfolio Holding: Tianjin Development Holdings Limited
TDHL (0882.HK) owns 16.5% of Otis China, generating $40M/yr. Valued at $250M vs $500M Otis stake, $500M cash, $300M other shares. 3x P/E, 1/6 liquid assets. 7% dividend yield. Otis China growing recurring maintenance. Double potential if discount narrows to 60%. China risk overpriced.
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