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 Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of July 26th.</li>
<li>We estimate the weekly outflows to be US$1,578.2 million, led by consumer staples, information technology, financials, and offset by consumer discretionary, health care, utilities.</li>
<li>We highlight flows for Zijin Mining, Moutai, CATL, Zhongji Innolight, Wuliangye, Boe Technology.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of July 26th.
We estimate the weekly outflows to be US$1,578.2 million, led by consumer staples, information technology, financials, and offset by consumer discretionary, health care, utilities.
We highlight flows for Zijin Mining, Moutai, CATL, Zhongji Innolight, Wuliangye, Boe Technology.


Northbound Flows (Jul 26th): Zijin Mining, Moutai, Zhongji Innolight, Wuliangye, Boe Technology

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$7.8bn this week (now 25wks in a row of net buying), on smallish two-way volumes. </li>
<li>I've thought national team was buying banks for months. This week, 1 bank showed up in the top 20 net buys after only 1 in the top ten last week.</li>
<li>There were three ETFs in the top six SOUTHBOUND buys this past week. That was unusual. Some high div SOEs got sold. </li>
</ul>


SOUTHBOUND was again a net buyer, for HK$7.8bn this week (now 25wks in a row of net buying), on smallish two-way volumes. 
I've thought national team was buying banks for months. This week, 1 bank showed up in the top 20 net buys after only 1 in the top ten last week.
There were three ETFs in the top six SOUTHBOUND buys this past week. That was unusual. Some high div SOEs got sold. 


HK Connect SOUTHBOUND Flows (To 26 Jul 2024); ETFs Get Bought, Banks Have Gone Missing

Cambricon Technologies  Lt / Event-Driven

<ul>
<li><em>The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.</em></li>
<li>Last week saw NORTHBOUND net SELL RMB +19.3bn of A-shares. NORTHBOUND sold everything. Consumer, Finance, and Energy hit hardest.</li>
<li>Net flows as a percentage of value traded are clearly "short gamma", but the net buys this week were of stocks previously a net sell. </li>
</ul>


The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.
Last week saw NORTHBOUND net SELL RMB +19.3bn of A-shares. NORTHBOUND sold everything. Consumer, Finance, and Energy hit hardest.
Net flows as a percentage of value traded are clearly "short gamma", but the net buys this week were of stocks previously a net sell. 


Mainland Connect NORTHBOUND Flows (To 19 July 2024): A Big Broad Sell in Third Plenum Week

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jul 12th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Tencent, Nongfu Spring, China Shenhua, Petrochina, New Oriental.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jul 12th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Tencent, Nongfu Spring, China Shenhua, Petrochina, New Oriental.


HK Short Interest Weekly: Tencent, Nongfu Spring, China Shenhua, Petrochina, New Oriental

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 12th.</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 estimate the inflows to be USD 580m and highlight flows for ICBC (1398 HK).</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 12th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We estimate the inflows to be USD 580m and highlight flows for ICBC (1398 HK).


China

Zijin Mining Group Company Limited operates metal mineral resources exploration and mining businesses. The Company produces gold, copper, zinc, iron, and other base metals. Zijin Mining Group also conducts metal trade and investment businesses domestically and internationally.

Price Gauge
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Zijin Mining Group (601899 CH)

Northbound Flows (Jul 26th): Zijin Mining, Moutai, Zhongji Innolight, Wuliangye, Boe Technology

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Zijin Mining, Moutai, CATL, Zhongji Innolight,...

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (To 26 Jul 2024); ETFs Get Bought, Banks Have Gone Missing

SOUTHBOUND saw net inflow through HK Connect for the 25th week in a row. Three ETFs were in the top 6 net buys, and only one bank in the top 20....

Travis Lundy

Mainland Connect NORTHBOUND Flows (To 19 July 2024): A Big Broad Sell in Third Plenum Week

NORTHBOUND's net buy the previous week was a one-off perhaps. This week saw heavy net selling across the board. Not index-weighted.

Travis Lundy

HK Short Interest Weekly: Tencent, Nongfu Spring, China Shenhua, Petrochina, New Oriental

We analyzed the latest HK SFC report for aggregate short position as of Jul 12th and highlight short interest changes in Tencent, Nongfu Spring,...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Jul 12th): ICBC

We analyzed southbound Hong Kong connect flows in the past week. We estimate that there were inflows of USD 580.9 million and highlight flows for...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)