Industries: Consumer/Nondiscretionary
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Industries: Consumer/Nondiscretionary

The 2010 All-China Research Team Rankings Released

Hui-Hui (Heather) Hsu CLSA Asia-Pacific Markets

The buy side says: “Her reports are very insightful for learning about the industries.”

CLSA Asia-­Pacific Markets’ Hui-Hui (Heather) Hsu, who captures the crown, wins praise from clients for her thorough and consistent coverage of China Yurun Food Group, the mainland’s largest meat supplier. Hsu initiated coverage of the Nanjing, Jiangsu–based concern way back in June 2007 with a buy rating and has highlighted her recommendation repeatedly since, telling investors that rising food prices would increase profitability. The stock surged 97.3 percent in the 12 months through May and outpaced the sector by a very tasty 37.6 percentage points. Hsu, 41, received an MBA from the Wharton School of the University of Pennsylvania in 1997; she worked as a telecommunications analyst at ING Baring Securities (Hong Kong) and Morgan Stanley in Taipei before joining CLSA in 2003.

Second Team

Denise Chai BofA Merrill Lynch Global Research

Denise Chai shoots straight in at second place. The BofA Merrill Lynch Global Research analyst “has differentiated herself by focusing on long-term business fundamentals rather than short-term issues,” observes one portfolio manager. Chai initiated coverage of Ports Design in April 2009 with a buy rating, at HK$10.65, citing the Kowloon, Hong Kong–based fashion retailer’s high-end brand positioning and rising margins, as well as the relative lack of direct rivals. The stock shot up 77.5 percent, to HK$18.90, through May 2010.

Third Team

Angela Moh Morgan Stanley

In third place stands Morgan Stanley’s Angela Moh. In November she downgraded Tingyi (Cayman Islands) Holding Corp. — a Tianjin-based manufacturer and distributor of baked goods, beverages and instant noodles — from buy to neutral, at HK$19.12, believing that the stock was overvalued and would suffer from the increased need for advertising spurred by its competition. Through May the stock slid 6.5 percent, to HK$17.88. Moh is “thorough, analytical and offers minimum ‘spinning,’” according to one appreciative buy-sider.


Yifan Deng Goldman Sachs (Asia); Anne Ling Deutsche Bank; Yang (Emma) Liu Nomura; Yanyan (Christine) Peng Nomura; Xiaopo Wei CLSA Asia-Pacific Markets; Mabel Wong Deutsche Bank

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