About Golden Pine
Golden Pine is an asset management company with a focus on value investing. We invest primarily in domestic and overseas listed Chinese companies, with a goal to generate consistent, absolute return through cycles for our global investors.
Seasoned and Experienced Team
Chief Investment Officer has more than 5 years of industry experience and over a decade of investment experience in Hong Kong and US markets, including at one of the largest hedge funds in China. He adopts a comprehensive analysis model in determining the core value and investment timing of a company.
The rest of the investment team is made up of talents from the top universities in China and overseas. The team has extensive experience in both the buyside and industries.
Over 80% of the business team have worked in international institutions, with an average professional experience of approximately 12 years
Unique Competitive Advantage
Our competitive advantage lies in our deep understanding of Chinese policies, accurate grasp of macroeconomic cycles, and unique knowledge of Chinese industries and enterprises. We conduct comprehensive research and due diligence independently and objectively, with a focus on company fundamentals instead of short-term headline news.
Our Clients
Investment Philosophy
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Long-term investment return is based on a company’s ability to generate sustainable return on asset
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Investing within our core competencies, and gradually expand our comfort zone over time
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Selective contrarian, as the best opportunities are often overlooked by the market
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Good company at a good price, focusing on quality, growth and valuation
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Moderately concentrated portfolio, with a balance between opportunity and risk
Investment Framework
As a Growth at Reasonable Price (GARP) Investor, we endeavor to identify industries with sustainable structural or cyclical growth potential, and to buy companies that offer the strongest alpha opportunities at favorable prices.
Our research focuses on factors such as company fundamentals, valuation, growth potential, capital expenditure cycle, and corporate governance (as illustrated in the graph below), with a goal of maximizing the risk-adjusted return for the investment portfolio.
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Quality： We focus on evaluating the business model and core competitiveness, as well as assessing corporate governance and management capabilities.
Growth： We seek companies with growth potential, positioning ourselves at the cyclical inflection point to capture the upward growth of the industry beta, or identify companies that can offer alpha opportunities from structural growth.
Valuation：We are committed to value companies with Discounted Cash Flow (DCF), paying attention to the company's long-term intrinsic value, while also conduct cross-market industry and market comparisons to find companies that are significantly undervalued by the market.