Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jul 26th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Tracker Fund, AIA, Hisense Ha, China Res Beer.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jul 26th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Tracker Fund, AIA, Hisense Ha, China Res Beer.


HK Short Interest Weekly: Tracker Fund, AIA, Hisense Ha, China Res Beer

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>SOUTHBOUND was again a net buyer, for HK$9.2bn this week (now 26wks in a row of net buying), on smallish two-way volumes.</li>
<li>I've thought national team was buying banks for months. They were gone for a couple of weeks. Feels like they are back. </li>
<li>There were three ETFs in the top five SOUTHBOUND sells this past week, reversing last week. Energy, Utilities, Telecoms bought. </li>
</ul>


SOUTHBOUND was again a net buyer, for HK$9.2bn this week (now 26wks in a row of net buying), on smallish two-way volumes.
I've thought national team was buying banks for months. They were gone for a couple of weeks. Feels like they are back. 
There were three ETFs in the top five SOUTHBOUND sells this past week, reversing last week. Energy, Utilities, Telecoms bought. 


HK Connect SOUTHBOUND Flows (To 2 Aug 2024); ETFs Get Sold; Tencent, SOEs, Utilities Bought

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<ul><li>Chinese automakers including BYD, Great Wall, NIO, Xpeng, Li Auto, Xiaomi, Zeekr, Aion, Deepal, Leap, Neta and HIMA etc reported their Jul 2024 sales volumes on 1 Aug.</li><li>Total sales volume combined rose 33% YoY (ranging from - 22% to +950%) and remained flat MoM (ranging from -22% to +10%) in Jul.</li><li>Li Auto beat, NIO in line, Xpeng restocking. Li Auto delivered about 51,000 units (+7% MoM) in Jul, a record high, better than our prior forecast.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Chinese automakers including BYD, Great Wall, NIO, Xpeng, Li Auto, Xiaomi, Zeekr, Aion, Deepal, Leap, Neta and HIMA etc reported their Jul 2024 sales volumes on 1 Aug.Total sales volume combined rose 33% YoY (ranging from - 22% to +950%) and remained flat MoM (ranging from -22% to +10%) in Jul.Li Auto beat, NIO in line, Xpeng restocking. Li Auto delivered about 51,000 units (+7% MoM) in Jul, a record high, better than our prior forecast.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Auto - Likely First MoM Rise for Jul NEV Retail Since 2021

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jul 19th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Ping An, Meituan, China Mobile, HSBC, Haidilao, Picc P&amp;C, Gwmotor, Psbc.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jul 19th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Ping An, Meituan, China Mobile, HSBC, Haidilao, Picc P&amp;C, Gwmotor, Psbc.


HK Short Interest Weekly: Ping An, Meituan, China Mobile, HSBC, Haidilao, Picc P&C, Gwmotor, Psbc

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/byd-co-ltd-h" target="_blank" data-smartkarma-citation="entities:20962:1" rel="noopener">BYD (1211 HK)</a> shares had a breakout relative to the MSCI China index and showing good momentum during the low volume days of summer.  
</li>
<li>
<a href="https://www.smartkarma.com/entities/power-assets-holdings-ltd" target="_blank" data-smartkarma-citation="entities:788:1" rel="noopener">POWER ASSETS HOLDINGS (6 HK)</a> has shown a breakout relative to MSCI Hong Kong with a defensive business and 5%+ dividend yield. 
</li>
<li>
<a href="https://www.smartkarma.com/entities/wh-group-ltd" target="_blank" data-smartkarma-citation="entities:13200:1" rel="noopener">WH GROUP (288 HK)</a> has also shown a breakout relative to the MSCI Hong Kong after its announcement of the spinoff of Smithfield Foods in the US. 
</li>
</ul>



BYD (1211 HK) shares had a breakout relative to the MSCI China index and showing good momentum during the low volume days of summer.  


POWER ASSETS HOLDINGS (6 HK) has shown a breakout relative to MSCI Hong Kong with a defensive business and 5%+ dividend yield. 


WH GROUP (288 HK) has also shown a breakout relative to the MSCI Hong Kong after its announcement of the spinoff of Smithfield Foods in the US. 



Technically Speaking, Breakouts and Breakdowns: HONG KONG (July 24)

China

Great Wall Motor Company Limited, through its subsidiaries, manufactures and sells pick-up trucks and sport-utility vehicles (SUVs) in China under branded names. The Company also researches and develops, and manufactures principal automotive parts and components for use in the assembly of pick-up trucks and SUVs.

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Great Wall Motor (2333 HK)

HK Short Interest Weekly: Tracker Fund, AIA, Hisense Ha, China Res Beer

We analyzed the latest HK SFC report for aggregate short position as of Jul 26th and highlight short interest changes in Tracker Fund, AIA, Hisense...

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (To 2 Aug 2024); ETFs Get Sold; Tencent, SOEs, Utilities Bought

SOUTHBOUND flows for HK Connect were to the net buy side for the 26th week in a row. SOEs in Energy, Telcos, and Utilities were strong. Banks too....

Travis Lundy

Auto - Likely First MoM Rise for Jul NEV Retail Since 2021

Chinese automakers including BYD, Great Wall, NIO, Xpeng, Li Auto, Xiaomi, Zeekr, Aion, Deepal, Leap, Neta and HIMA etc reported their Jul 2024...

CMB International

HK Short Interest Weekly: Ping An, Meituan, China Mobile, HSBC, Haidilao, Picc P&C, Gwmotor, Psbc

We analyzed the latest HK SFC report for aggregate short position as of Jul 19th and highlight short interest changes in Ping An, Meituan, China...

Ke Yan, CFA, FRM

Technically Speaking, Breakouts and Breakdowns: HONG KONG (July 24)

BYD Company, Power Assets and WH Group all experienced breakouts during the week. WH Group announced a spin off of its Smithfield Foods business...

David Mudd

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52-week Range

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