Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<ul>
<li>In the past several days, there have been numerous news accounts about the Indian government cracking down on Krafton's Battlegrounds Mobile India (BGMI) game.</li>
<li>We believe there are several reasons why Indian government is cracking down on BGMI including concerns about this game potentially leading to greater violence among children and ties to Tencent.</li>
<li>At current valuation levels, we like a pair trade between Krafton (go short) and NCSOFT Corp (036570 KS) (go long).</li>
</ul>


In the past several days, there have been numerous news accounts about the Indian government cracking down on Krafton's Battlegrounds Mobile India (BGMI) game.
We believe there are several reasons why Indian government is cracking down on BGMI including concerns about this game potentially leading to greater violence among children and ties to Tencent.
At current valuation levels, we like a pair trade between Krafton (go short) and NCSOFT Corp (036570 KS) (go long).


A Pair Trade Between Krafton & NCsoft (India's Crackdown on Krafton's BGMI)

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

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.

<ul>
<li>Tencent and Huawei launched beta tests for car-hailing platform almost simultaneously.</li>
<li>Alibaba begins to disconnect Ant Group to avoid implicating each other.</li>
<li>Missfresh dismissed almost all employees in its headquarters in Beijing.</li>
</ul>


Tencent and Huawei launched beta tests for car-hailing platform almost simultaneously.
Alibaba begins to disconnect Ant Group to avoid implicating each other.
Missfresh dismissed almost all employees in its headquarters in Beijing.


China Internet Weekly (1Aug2022): Tencent, Alibaba, Meituan, JD Logistics, MissFresh

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding as of July  29th.</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 flows for Tencent, Wuxi Biologics, and China Mobile.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding as of July  29th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent, Wuxi Biologics, and China Mobile.


Hong Kong Connect Flows: Tencent, Wuxi Biologics, China Mobile

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jul 22nd. </li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short interests changes in Wuxi Biologics, Techtronic, Tencent, XPeng.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jul 22nd. 
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short interests changes in Wuxi Biologics, Techtronic, Tencent, XPeng.


HK Short Interest: Wuxi Biologics, Techtronic, Tencent, XPeng

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

Country Garden Holdings Co / Equity Capital Markets

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>There were no major IPO launches during the week. Soosan will list early next week.</li>
<li>There were a number of placements/blocks across the region, including GDR launches for Swiss listing.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
There were no major IPO launches during the week. Soosan will list early next week.
There were a number of placements/blocks across the region, including GDR launches for Swiss listing.


ECM Weekly (31st Jul 2022) - Soosan, WCP, GDRs, Yancoal, Country Garden, Legend Biotech, MEP, PSMC

China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

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Tencent (700 HK)

A Pair Trade Between Krafton & NCsoft (India's Crackdown on Krafton's BGMI)

We believe there are several reasons why Indian government is cracking down on Krafton's BGMI including concerns about this game leading to greater...

Douglas Kim

China Internet Weekly (1Aug2022): Tencent, Alibaba, Meituan, JD Logistics, MissFresh

Tencent and Huawei launched beta tests for car-hailing apps. Alibaba disconnect Ant Group to avoid implicating each other. Missfresh dismissed...

Ming Lu

Hong Kong Connect Flows: Tencent, Wuxi Biologics, China Mobile

Inflows from mainland investors to Hong Kong stocks have been positive for the past 12 weeks. We highlight flows for Tencent, Wuxi Biologics, and...

Ke Yan, CFA, FRM

HK Short Interest: Wuxi Biologics, Techtronic, Tencent, XPeng

We highlight weekly short interests changes in Wuxi Biologics, Techtronic, Tencent, XPeng based on the latest HK SFC Short Aggregate report.

Ke Yan, CFA, FRM

ECM Weekly (31st Jul 2022) - Soosan, WCP, GDRs, Yancoal, Country Garden, Legend Biotech, MEP, PSMC

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

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52-week Range

Market Cap (USDm)

P/E

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