Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Inside is a recap of movements in the last week relating to the Shanghai and Shenzhen-Hong Kong Stock Connect facilities, broken down by company and industry.</li>
<li>Overall, net inflow was ~US$0.6bn, split (roughly) &lt;US$0.1bn for Shanghai and US$0.5bn for Shenzhen.</li>
<li>The largest inflows were into <a href="https://www.smartkarma.com/entities/beijing-kuaishou-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:29725:1" rel="noopener">Kuaishou Technology (1024 HK)</a> and <a href="https://www.smartkarma.com/entities/wuxi-apptec" target="_blank" data-smartkarma-citation="entities:23679:1" rel="noopener">Wuxi Biologics (2269 HK)</a>. The largest outflows were in <a href="https://www.smartkarma.com/entities/cnooc-ltd" target="_blank" data-smartkarma-citation="entities:175:1" rel="noopener">CNOOC Ltd (883 HK)</a> and <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a>.</li>
</ul>


Inside is a recap of movements in the last week relating to the Shanghai and Shenzhen-Hong Kong Stock Connect facilities, broken down by company and industry.
Overall, net inflow was ~US$0.6bn, split (roughly) &lt;US$0.1bn for Shanghai and US$0.5bn for Shenzhen.
The largest inflows were into Kuaishou Technology (1024 HK) and Wuxi Biologics (2269 HK). The largest outflows were in CNOOC Ltd (883 HK) and Tencent (700 HK).


Shanghai/​​​Shenzhen Southbound Connect: Weekly Moves (9 June 2022)

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 analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outlfows, and holding by mainland investors.</li>
<li>Inflows last month amounted to USD 5.7bn which marks sixth months of inflows. Top three stocks southbound investors bought were Meituan, CNOOC, and Tencent.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outlfows, and holding by mainland investors.
Inflows last month amounted to USD 5.7bn which marks sixth months of inflows. Top three stocks southbound investors bought were Meituan, CNOOC, and Tencent.


Hong Kong Connect Flows Monthly (May): Meituan, CNOOC, Tencent

<ul>
<li>Inside is a recap of movements in the last week relating to the Shanghai and Shenzhen-Hong Kong Stock Connect facilities, broken down by company and industry. </li>
<li>Overall, the total value increased US$12.5bn in the past week, with Shanghai accounting for US$5.7bn and Shenzhen US$6.8bn. <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> is the dominant holding across both programs</li>
<li>
<a href="https://www.smartkarma.com/entities/glory-sun-financial-group-ltd" target="_blank" data-smartkarma-citation="entities:17758:1" rel="noopener">Glory Sun Financial Group Limited (1282 HK)</a> saw the biggest upward movement as the chairman sold to pay off debt. <a href="https://www.smartkarma.com/entities/china-south-city-holdings" target="_blank" data-smartkarma-citation="entities:8205:1" rel="noopener">China South City (1668 HK)</a> was reduced by both programs. </li>
</ul>


Inside is a recap of movements in the last week relating to the Shanghai and Shenzhen-Hong Kong Stock Connect facilities, broken down by company and industry. 
Overall, the total value increased US$12.5bn in the past week, with Shanghai accounting for US$5.7bn and Shenzhen US$6.8bn. Tencent (700 HK) is the dominant holding across both programs

Glory Sun Financial Group Limited (1282 HK) saw the biggest upward movement as the chairman sold to pay off debt. China South City (1668 HK) was reduced by both programs. 


Shanghai/Shenzhen Southbound Connect: Weekly Moves (20 May 2022)

Global Special Situations & Strategy, SR Services Ltd

David Lepper

Global Special Situations & Strategy

SR Services Ltd

SR Services provides Strategic Knowledge and Solutions services for Family Offices and Corporate Business. 

We deliver this via advisory services, strategic planning, opportunity analysis/sourcing, as well as solution implementation. 

Whilst, we create intellectual discipline and operational leverage for your projects or daily activities, our ultimate objective is to empower whilst enhancing your decision making. 

Strategic Knowledge and Solutions

Cross Asset Strategy

Whilst Q4's list posted strong price performance it was a case that a rising tide floated most boats. As in the previous few quarters, we are on the watch for the risk of deteriorating credit metrics, but in particular during H1 2021. In Q1, the Altman Z score is at a market-cap-weighted 1.03 times, a significant decrease on the 1.52 in Q4. This deterioration needs to be monitored since earnings continue to be adjusted by analysts and their limited visibility of any bottoming. 25 stocks appear in our Q1 2021 screen, versus 15 in Q4 2020.

Whilst Q4's list posted strong price performance it was a case that a rising tide floated most boats. As in the previous few quarters, we are on the watch for the risk of deteriorating credit metrics, but in particular during H1 2021. In Q1, the Altman Z score is at a market-cap-weighted 1.03 times, a significant decrease on the 1.52 in Q4. This deterioration needs to be monitored since earnings continue to be adjusted by analysts and their limited visibility of any bottoming. 25 stocks appear in our Q1 2021 screen, versus 15 in Q4 2020.

Screening the Silk Road: Q1 2021 High Risk Names to Avoid

Q3 delivered marked underperformanceOur Q3-2020 Small-Mid Cap High-Risk list of stocks produced an average price increase of 0.3%. In comparison, the MSCI Asia Pacific Index posted an increase of 6.3% over the same period. 15 stocks appear in our Q4 2020 screen, versus 21 in Q3 2020. As we highlighted in the previous three quarters, we are specifically on the watch for the risk of deteriorating credit metrics during 2020. This screen presents names which are worthy of investigation as they present with fundamentals which are at risk.

Q3 delivered marked underperformanceOur Q3-2020 Small-Mid Cap High-Risk list of stocks produced an average price increase of 0.3%. In comparison, the MSCI Asia Pacific Index posted an increase of 6.3% over the same period. 15 stocks appear in our Q4 2020 screen, versus 21 in Q3 2020. As we highlighted in the previous three quarters, we are specifically on the watch for the risk of deteriorating credit metrics during 2020. This screen presents names which are worthy of investigation as they present with fundamentals which are at risk.

Screening the Silk Road: Q4 2020 High Risk Names to Avoid

Hong Kong

Renze Harvest International Limited operates automation businesses. The Company providing automated manufacturing equipment and solutions for smart phone, Internet of Things, semiconductor, automotive electronics, and other industries. Renze Harvest International also conducts property investment, securities and commodity investment, and other financial services.

Price Gauge
52-week Range	0.00 - 0.00
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Renze Harvest International Lt (1282 HK)

Shanghai/Shenzhen Southbound Connect: Weekly Moves (9 June 2022)

Overall, net inflow was ~US$0.6bn, split (roughly) <US$0.1bn for Shanghai Southbound and US$0.5bn for Shenzhen Southbound.

David Blennerhassett

Hong Kong Connect Flows Monthly (May): Meituan, CNOOC, Tencent

Inflows last month amounted to USD 5.7bn which marks sixth months of inflows. Top three stocks southbound investors bought were Meituan, CNOOC, and...

Ke Yan, CFA, FRM

Shanghai/Shenzhen Southbound Connect: Weekly Moves (20 May 2022)

Overall, the total value increased US$12.5bn, with Shanghai accounting for US$5.7bn and Shenzhen US$6.8bn. Glory Sun saw the biggest upward...

David Blennerhassett

Screening the Silk Road: Q1 2021 High Risk Names to Avoid

As in the previous few quarters, we are on the watch for the risk of deteriorating credit metrics, but in particular during H1 2021. 25 stocks...

David Lepper

Screening the Silk Road: Q4 2020 High Risk Names to Avoid

Our Q3 screen delivered 600bps of under performance. With volatility is set to increase as we head into H1 2020, which stocks are most at risk in...

David Lepper

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Shanghai/​​​Shenzhen Southbound Connect: Weekly Moves (9 June 2022)

Overall, net inflow was ~US$0.6bn, split (roughly) <US$0.1bn for Shanghai Southbound and US$0.5bn for Shenzhen Southbound.

David Blennerhassett

Hong Kong Connect Flows Monthly (May): Meituan, CNOOC, Tencent

Inflows last month amounted to USD 5.7bn which marks sixth months of inflows. Top three stocks southbound investors bought were Meituan, CNOOC, and...

Ke Yan, CFA, FRM

Shanghai/Shenzhen Southbound Connect: Weekly Moves (20 May 2022)

Overall, the total value increased US$12.5bn, with Shanghai accounting for US$5.7bn and Shenzhen US$6.8bn. Glory Sun saw the biggest upward...

David Blennerhassett

Screening the Silk Road: Q1 2021 High Risk Names to Avoid

As in the previous few quarters, we are on the watch for the risk of deteriorating credit metrics, but in particular during H1 2021. 25 stocks...

David Lepper

Screening the Silk Road: Q4 2020 High Risk Names to Avoid

Our Q3 screen delivered 600bps of under performance. With volatility is set to increase as we head into H1 2020, which stocks are most at risk in...

David Lepper

Shanghai/Shenzhen Southbound Connect: Weekly Moves (9 June 2022)