Elevator Pitch
I assign a Neutral rating to Hong Kong-listed Mainland China property management services company Times Neighborhood Holdings Limited (OTCPK:TNHDF) [9928:HK].
I am positive on Times Neighborhood for its focus on the Greater Bay Area region and its multiple growth drivers. On the flip side, Times Neighborhood's past corporate actions, such as a recent share placement and an aborted acquisition, raise certain potential issues. The company's recent share placement at approximately double its IPO price suggests that its share price could have potentially peak. Separately, Times Neighborhood's proposed acquisition of a micro-credit