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 Aug 16th 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 AIA (1299 HK), Hang Seng Bank (11 HK), Swire Pacific (19 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were AIA (1299 HK), Meituan (3690 HK), HSBC (5 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Aug 16th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were AIA (1299 HK), Hang Seng Bank (11 HK), Swire Pacific (19 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were AIA (1299 HK), Meituan (3690 HK), HSBC (5 HK).


Hong Kong Buybacks Weekly (Aug 16th): Aia, Hang Seng Bank, Swire Pacific

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>ATAT US/TCOM US:Daily Traffic Volume growth on highways is flattish YoY During the Summer Travel Season(-/-)</li>
<li>BEKE US: Decrease in New Short-term Loans to Residents in July, but Increase in New Long-term Loans(+)</li>
<li>BEKE US:House prices continued to decline in July . (-)</li>
</ul>


ATAT US/TCOM US:Daily Traffic Volume growth on highways is flattish YoY During the Summer Travel Season(-/-)
BEKE US: Decrease in New Short-term Loans to Residents in July, but Increase in New Long-term Loans(+)
BEKE US:House prices continued to decline in July . (-)


[Blue Lotus Daily]:ATAT US/TCOM US/BEKE US/NIO US/LI US/1810 HK/1211 HK/XPEV US/LKNCY US

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>The constituent changes for the <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index" target="_blank" data-smartkarma-citation="entities:22900:1" rel="noopener">Hang Seng China Enterprises Index (HSCEI INDEX)</a>, <a href="https://www.smartkarma.com/entities/hang-seng-tech-index" target="_blank" data-smartkarma-citation="entities:31367:1" rel="noopener">Hang Seng TECH Index (HSTECH INDEX)</a> and HSIII Index will be announced after market close on Friday.</li>
<li>We forecast 2 changes for the <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index" target="_blank" data-smartkarma-citation="entities:22900:1" rel="noopener">Hang Seng China Enterprises Index (HSCEI INDEX)</a>, 1 change for the <a href="https://www.smartkarma.com/entities/hang-seng-tech-index" target="_blank" data-smartkarma-citation="entities:31367:1" rel="noopener">Hang Seng TECH Index (HSTECH INDEX)</a> and 3 changes for the HSIII Index.</li>
<li>With same-way and opposing flow on stocks from different passive trackers, the one-way trade is currently estimated at HK$5.2bn (US$672m). That will change with final capping done on 3 September.</li>
</ul>


The constituent changes for the Hang Seng China Enterprises Index (HSCEI INDEX), Hang Seng TECH Index (HSTECH INDEX) and HSIII Index will be announced after market close on Friday.
We forecast 2 changes for the Hang Seng China Enterprises Index (HSCEI INDEX), 1 change for the Hang Seng TECH Index (HSTECH INDEX) and 3 changes for the HSIII Index.
With same-way and opposing flow on stocks from different passive trackers, the one-way trade is currently estimated at HK$5.2bn (US$672m). That will change with final capping done on 3 September.


HSCEI/HSTECH/HSIII Index Rebalance Preview: Potential Changes, Flow & Positioning

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Equity Bottom-Up

<ul><li>Taiwan's drone sector showcases industry growth with debut expo in October, marking a significant advancement in technology.</li><li>Microsoft makes significant investment of US$308 million in Taiwan to enhance AI technology development, strengthening their presence in the region.</li><li>Samsung plans to establish new CIS lab to compete with Sony in imaging technology, while also investing in in-house chip development for XR market to stay ahead of competition.</li></ul>

Taiwan's drone sector showcases industry growth with debut expo in October, marking a significant advancement in technology.Microsoft makes significant investment of US$308 million in Taiwan to enhance AI technology development, strengthening their presence in the region.Samsung plans to establish new CIS lab to compete with Sony in imaging technology, while also investing in in-house chip development for XR market to stay ahead of competition.

Tech Supply Chain Tracker (14-Aug-2024): Taiwan drone industry grows, expo debut in October.

<ul>
<li>Consumer Industry Update:Hubei province takes the lead in implementing the home appliance replacement policy (+)</li>
<li>ATAT US/TCOM US:The year-on-year decline in hotel RevPAR narrowed in the second week of August, showing resilient in hotel demand.(+/+)</li>
<li>ATAT US/TCOM US: MCT plans to cut the prices of scenic spot tickets, bodes well to tourism demand. (+/+)</li>
</ul>


Consumer Industry Update:Hubei province takes the lead in implementing the home appliance replacement policy (+)
ATAT US/TCOM US:The year-on-year decline in hotel RevPAR narrowed in the second week of August, showing resilient in hotel demand.(+/+)
ATAT US/TCOM US: MCT plans to cut the prices of scenic spot tickets, bodes well to tourism demand. (+/+)


[Blue Lotus Daily]:ATAT US/TCOM US/1810 HK/AAPL US/1519 HK/ZTO US/XPEV US/2454 TT/QCOM US/LKNCY US

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.

Price Gauge
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Xiaomi Corp (1810 HK)

Hong Kong Buybacks Weekly (Aug 16th): Aia, Hang Seng Bank, Swire Pacific

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were AIA (1299 HK), Hang...

Ke Yan, CFA, FRM

[Blue Lotus Daily]:ATAT US/TCOM US/BEKE US/NIO US/LI US/1810 HK/1211 HK/XPEV US/LKNCY US

Summer travel season sees flat growth in highway traffic volume, decrease in short-term loans but increase in long-term loans, and continued...

Blue Lotus Research Institute

HSCEI/HSTECH/HSIII Index Rebalance Preview: Potential Changes, Flow & Positioning

We expect 2 changes for the HSCEI, 1 for the HSTECH, 2 for the HSIII. Tne-way trade is estimated at HK$5.2bn (US$672m). There is same-way and...

Brian Freitas

Tech Supply Chain Tracker (14-Aug-2024): Taiwan drone industry grows, expo debut in October.

Taiwan expo showcases drone industry growth, Microsoft invests in AI, Samsung aims to rival Sony in imaging, China smartphone market thrives, SAI...

Tech Supply Chain Tracker

[Blue Lotus Daily]:ATAT US/TCOM US/1810 HK/AAPL US/1519 HK/ZTO US/XPEV US/2454 TT/QCOM US/LKNCY US

Hubei province leads in home appliance replacement policy; hotel RevPAR decline narrows in August; MCT cuts scenic spot ticket prices to boost...

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Buybacks Weekly (Aug 16th): Aia, Hang Seng Bank, Swire Pacific

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were AIA (1299 HK), Hang...

Ke Yan, CFA, FRM

[Blue Lotus Daily]:ATAT US/TCOM US/BEKE US/NIO US/LI US/1810 HK/1211 HK/XPEV US/LKNCY US

​Summer travel season sees flat growth in highway traffic volume, decrease in short-term loans but increase in long-term loans, and continued...

Blue Lotus Research Institute

HSCEI/HSTECH/HSIII Index Rebalance Preview: Potential Changes, Flow & Positioning

We expect 2 changes for the HSCEI, 1 for the HSTECH, 2 for the HSIII. Tne-way trade is estimated at HK$5.2bn (US$672m). There is same-way and...

Brian Freitas

Tech Supply Chain Tracker (14-Aug-2024): Taiwan drone industry grows, expo debut in October.

Taiwan expo showcases drone industry growth, Microsoft invests in AI, Samsung aims to rival Sony in imaging, China smartphone market thrives, SAI...

Tech Supply Chain Tracker

[Blue Lotus Daily]:ATAT US/TCOM US/1810 HK/AAPL US/1519 HK/ZTO US/XPEV US/2454 TT/QCOM US/LKNCY US

​Hubei province leads in home appliance replacement policy; hotel RevPAR decline narrows in August; MCT cuts scenic spot ticket prices to boost...

Blue Lotus Research Institute

Summer travel season sees flat growth in highway traffic volume, decrease in short-term loans but increase in long-term loans, and continued...

Hubei province leads in home appliance replacement policy; hotel RevPAR decline narrows in August; MCT cuts scenic spot ticket prices to boost...