Clocking in at No. 3 is newcomer Xiang Rong (Jacqueline) Li of Bank of America Merrill Lynch, who is known for her “frequent and thorough channel checks,” in the words of one money manager. Li actively tracks seven companies, dividing her time between Hong Kong and Shanghai. She added China State Construction International Holdings to that coverage universe in December 2011 with a buy rating, deeming the shares a bargain at HK$4.97. The Hong Kong–based general building contractor and civil engineering services provider has maintained a robust business pipeline, Li notes, particularly from large casinos in Macau, so she has highlighted her stance periodically. Through October 2013 the stock more than doubled, to $13.06, advancing 43.5 percent in the preceding 12 months alone and outdistancing the sector by 36.1 percentage points over that period. Going forward, she favors Changsha-based Zoomlion Heavy Industry Science and Technology Co., a supplier of heavy machinery and equipment for use in infrastructure construction projects. The stock was trading at HK$6.58 in late October, which she believes represents an attractive valuation. — Ben Mattlin |
The 2013 All-China Research Team: Industrials, Third: Xiang Rong (Jacqueline) Li