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 statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jul 15th 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 Tencent (700 HK), Aia (1299 HK), Esr (1821 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Aia (1299 HK), Great Wall Motor (2333 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jul 15th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Aia (1299 HK), Esr (1821 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Aia (1299 HK), Great Wall Motor (2333 HK).


Hong Kong Buybacks: Tencent, AIA, ESR Cayman

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>MRNA / In Depth: Why China still doesn’t have an mRNA shot</li><li>Heatwaves / Summer heatwaves threaten lives and livelihoods in China. A severe heatwave engulfing swathes of China has led to at least two deaths and affected 900 million people.</li><li>Fraud / Chinese hostages held in Cambodia rescued, embassy says</li></ul>

MRNA / In Depth: Why China still doesn’t have an mRNA shotHeatwaves / Summer heatwaves threaten lives and livelihoods in China. A severe heatwave engulfing swathes of China has led to at least two deaths and affected 900 million people.Fraud / Chinese hostages held in Cambodia rescued, embassy says

CX Daily: Why China Still Doesn’t Have an MRNA Shot

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

<ul>
<li>Bharat FIH (BFIH) aims to raise around US$660m in its India IPO via selling a mix of both primary and secondary shares. BFIH is a subsidiary of Foxconn.</li>
<li>Its initial operations were focussed on mobile phones, of late it has been expanding its portfolio to include mechanics, electric vehicles, televisions and hearables. </li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>


Bharat FIH (BFIH) aims to raise around US$660m in its India IPO via selling a mix of both primary and secondary shares. BFIH is a subsidiary of Foxconn.
Its initial operations were focussed on mobile phones, of late it has been expanding its portfolio to include mechanics, electric vehicles, televisions and hearables. 
In this note, we will talk about the positive aspects of the deal.


Bharat FIH Pre-IPO - The Positives - A Whole Lot of Promise

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jun 30th. </li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight changes in short interests for AIA, Li Ning, and Li Auto.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jun 30th. 
Top short increases and decreases were tabulated for one week and four week period.
We highlight changes in short interests for AIA, Li Ning, and Li Auto.


HK/China Equity Long-Short

Osbert Tang, CFA

<ul>
<li>YTD, our "Buy the Worst" strategy has underperformed the HSI by a marginal 2pp. The portfolio has a significant rebound against the Index starting mid-Jun. </li>
<li>
<a href="https://www.smartkarma.com/entities/sands-china-ltd" target="_blank" data-smartkarma-citation="entities:182:1" rel="noopener">Sands China Ltd (1928 HK)</a> is the best-performing one while <a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi Corp (1810 HK)</a> is the worst. We see room for the portfolio to catch up in 2H22.</li>
<li>The long-term performance of the strategy stays very solid. On a 5-year basis, "Buy the Worst" strategy has outperformed the HSI by an immense 30.9pp. </li>
</ul>


YTD, our "Buy the Worst" strategy has underperformed the HSI by a marginal 2pp. The portfolio has a significant rebound against the Index starting mid-Jun. 

Sands China Ltd (1928 HK) is the best-performing one while Xiaomi Corp (1810 HK) is the worst. We see room for the portfolio to catch up in 2H22.
The long-term performance of the strategy stays very solid. On a 5-year basis, "Buy the Worst" strategy has outperformed the HSI by an immense 30.9pp. 


A Mid-Year Review of Our “Buy the Worst” Strategy 2022: In Tandem with the HSI

China

Xiaomi Corporation manufactures communication equipment and parts. The Company produces and sells mobile phones, smart phone software,  set-top boxes, and related accessories. Xiaomi markets its products worldwide.

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Xiaomi Corp (1810 HK)

Hong Kong Buybacks: Tencent, AIA, ESR Cayman

We highlight the top 3 companies that repurchased the most shares from the market in the past 7 days were Tencent (700 HK), Aia (1299 HK), Esr...

Ke Yan, CFA, FRM

CX Daily: Why China Still Doesn’t Have an MRNA Shot

MRNA / In Depth: Why China still doesn’t have an mRNA shot. Heatwaves / Summer heatwaves threaten lives and livelihoods in China

Caixin Global

Bharat FIH Pre-IPO - The Positives - A Whole Lot of Promise

Bharat FIH aims to raise around US$660m in its India IPO. BFIH is a subsidiary of Foxconn. In this note, we talk about the positive aspects of the...

Sumeet Singh

HK Short Interest: AIA, Li Ning, Li Auto

We highlight week on week changes in short interests for AIA, Li Ning, and Li Auto based on the latest Hong Kong SFC short aggregate report.

Ke Yan, CFA, FRM

A Mid-Year Review of Our “Buy the Worst” Strategy 2022: In Tandem with the HSI

While "Buy the Worst" strategy only performed in line with the HSI YTD, there is potential for the portfolio to catch up in 2H22. Meanwhile, "Buy...

Osbert Tang, CFA

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