StillBrook’s Krace Zhou: Ride This Bus Stock To A Double – and Get Paid 6% Along the Way [Sohn Hong Kong 2026]

The room was quiet as Krace Zhou walked up to the stage. She broke the silence as she uttered a 10 word question “what multiple would you pay for a company that makes buses?” The question was met with silence, silence that was, in Zhou’s telling, exactly the point.

Zhou is the Founder and Chief Investment Officer of StillBrook Capital, a Greater China-focused long-only equity fund headquartered in Hong Kong that she launched in 2021 after 12 years at Morgan Stanley, where she was a named manager on the Morgan Stanley Asia Opportunity fund and earned a Citywire AAA rating for her risk-adjusted returns. Zhou has more than 18 years of investment experience and rose to Managing Director during her time at Morgan Stanley Investment Management. She holds a B.S. in Mathematics from Peking University and an MBA from Tsinghua University.

Her pitch at Sohn Hong Kong was for a large China-based company with a multi-billion dollar market cap. She described the bus maker as the most overlooked industrial compounder in China today.

What StillBrook Looks For

StillBrook Capital’s investment mandate, as Zhou laid it out, is early discovery of hidden gems that are, or are on their way to becoming, industry leaders. The framework has three filters. First, the target must be a genuine industry leader in market share, technology, and cost position. Second, it must be hidden – overlooked by the market due to a prolonged down-cycle or under-coverage relative to more fashionable peers. Third, it must be a gem: a quality business with durable growth and a valuation that rewards patient capital. One company Zhou argued, checks all three boxes.