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 weekly Hong Kong Connect flows with our data engine.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight inflows into Tencent, Meituan, CNOOC and outflows from Wuxi Biologics, and CR Power</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight inflows into Tencent, Meituan, CNOOC and outflows from Wuxi Biologics, and CR Power


Hong Kong Connect Flows: Tencent, Meituan, CNOOC

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jan 07 based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics (2269 HK), Tencent (700 HK), Xiaomi (1810 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics (2269 HK), Ping An H&amp;T (1833 HK), Tencent (700 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jan 07 based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics (2269 HK), Tencent (700 HK), Xiaomi (1810 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics (2269 HK), Ping An H&amp;T (1833 HK), Tencent (700 HK).


Hong Kong Buybacks: Tencent Buyback Is Back

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

<ul>
<li>China attaches great importance to gene therapy and related products, which would be a leader of the third industrial revolution in biomedicine and have broad prospects for future development.</li>
<li>With obvious strength in this field,<a href="https://www.smartkarma.com/entities/genscript-biotech-corp" target="_blank" data-smartkarma-citation="entities:21041:1" rel="noopener">Genscript Biotech (1548 HK)</a>’s businesses are in line with the future trend and the outlook is also quite promising, indicating exponential growth potential in valuation.</li>
<li>However, the potential risks on deterioration of international relations and the concerns on CAR-T commercialization should not be neglected by investors.</li>
</ul>


China attaches great importance to gene therapy and related products, which would be a leader of the third industrial revolution in biomedicine and have broad prospects for future development.
With obvious strength in this field,Genscript Biotech (1548 HK)’s businesses are in line with the future trend and the outlook is also quite promising, indicating exponential growth potential in valuation.
However, the potential risks on deterioration of international relations and the concerns on CAR-T commercialization should not be neglected by investors.


Genscript Biotech (1548.HK) - The Strength and the Concerns

Thematic (Sector/Industry)

<ul>
<li>Last week, the 14th Five-Year Plan for the medical device industry was released, which is actually China's first state-level industrial development plan for the medical device sector.</li>
<li>The NHSA and State Administration of TCM issued the new guidelines on medical insurance to support the development of TCM from top to bottom, and various measures are being implemented.</li>
<li>The recent rally in TCM sector may not the sustainable, and our view on this sector is conservative.</li>
</ul>


Last week, the 14th Five-Year Plan for the medical device industry was released, which is actually China's first state-level industrial development plan for the medical device sector.
The NHSA and State Administration of TCM issued the new guidelines on medical insurance to support the development of TCM from top to bottom, and various measures are being implemented.
The recent rally in TCM sector may not the sustainable, and our view on this sector is conservative.


China Healthcare Weekly (Dec.31)-1st State-Level Device Policy,TCM Guideline,TCM Rally Unsustainable

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Dec 31 based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics, Cspc (1093 HK), Ping An H&amp;T (1833 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics, Ping An H&amp;T, Xiaomi Corporation.</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Dec 31 based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics, Cspc (1093 HK), Ping An H&amp;T (1833 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics, Ping An H&amp;T, Xiaomi Corporation.


Hong Kong Buybacks: Wuxi Biologics Spent HKD2.8bn

China

WuXi Biologics (Cayman) Inc. is a leading open-access R&D capability and technology platform company serving the pharmaceutical, biotechnology, and medical device industries, with operations in China, U.S., and Iceland.  We provide a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process.  Our services are designed to help our global partners in shortening the cycle and lowering the cost of drug and medical device R&D through cost-effective and efficient solutions. 

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Wuxi Biologics (2269 HK)

Hong Kong Connect Flows: Tencent, Meituan, CNOOC

We highlight weekly connect inflows into Tencent (700 HK), Meituan (3690 HK), CNOOC (883 HK) and outflows from Wuxi Biologics (2269 HK), and CR...

Ke Yan, CFA, FRM

Hong Kong Buybacks: Tencent Buyback Is Back

We highlight the top 3 companies that repurchased the most shares in HK were Wuxi Biologics (2269 HK), Tencent (700 HK), Xiaomi (1810 HK) in the...

Ke Yan, CFA, FRM

Genscript Biotech (1548.HK) - The Strength and the Concerns

This insight analyzed Genscript's three largest segments (life-science services and products, CDMO, cell therapy), strength in CGT, and concerns on...

Xinyao (Criss) Wang

China Healthcare Weekly (Dec.31)-1st State-Level Device Policy,TCM Guideline,TCM Rally Unsustainable

This insight analyzed the 14th Five-Year Plan for medical device industry, the new guideline on medical insurance to support TCM development, and...

Xinyao (Criss) Wang

Hong Kong Buybacks: Wuxi Biologics Spent HKD2.8bn

We highlight the top 3 companies that repurchased the most shares in HK were Wuxi Biologics (2269 HK), Cspc Pharmaceutical (1093 HK), Ping An H&T...

Ke Yan, CFA, FRM

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52-week Range

Market Cap (USDm)

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