2024-06-11 22:55:00 ET
Summary
- Tianjin Development Holdings has a 16.5% stake in Otis China, with a focus on growing elevator maintenance service contracts.
- Otis China's portfolio has grown significantly, with a goal of reaching 2.8mm units globally by 2028, driven by strong service revenue.
- Despite a low P/E multiple and strong financial position, there is still a risk of losing money, but patience is key for long-term growth.
The following segment was excerpted from this fund letter.
Tianjin Development Holdings ( OTCPK:TJSCF )
As you may recall , its most significant asset is a 16.5% stake in Otis China. Last February, OTIS Worldwide presented its Investor Day, which has been happening every two years since it came back to the markets as a stand-alone company (it was part of a conglomerate, United Technologies, for decades)....
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For further details see:
Quercus Fund - Tianjin Development Holdings: How Is The Portfolio Growing