Professional
Added to YB: 2024-05-24
Pitch date: 2024-05-23
0882.HK [bullish]
Tianjin Development Holdings Limited
+45.08%
current return
Author Info
No bio for this author
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 1.68
Price Target
N/A
Dividend
7.14%
EV/EBITDA
3.77
P/E
3.84
EV/Sales
0.61
Sector
Multi-Utilities
Category
value
Quercus Fund Portfolio Holding: Tianjin Development Holdings Limited
Tianjin Dev (0882.HK): Owns 16.5% of Otis China, whose portfolio grew from 210k to 400k units since initial investment. Services drive 85% of Otis' profits with high margins & visibility. Expects 500k unit growth to 2.8M by 2028, largely from China. Despite bleak construction outlook, net cash >2x market cap & stakes worth >market cap. ~3x P/E with Otis China ~50% of profits. Quality biz enables patience.
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