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 analyse the changes of A-H premium on 142 stocks over the last week. The average A-H premium was 115.3% as of Dec 9th.</li>
<li>The average A-H premium changed by -2.6ppt weeok on week, led by health care, real estate, materials and offset by consumer discretionary, information technology.</li>
<li>We highlight weekly changes in A-H premium for Weichai Power, Shanghai Fudan, Guolian Securities, Joinn Lab, Great Wall Motor, Tsingtao Brewery.</li>
</ul>


We analyse the changes of A-H premium on 142 stocks over the last week. The average A-H premium was 115.3% as of Dec 9th.
The average A-H premium changed by -2.6ppt weeok on week, led by health care, real estate, materials and offset by consumer discretionary, information technology.
We highlight weekly changes in A-H premium for Weichai Power, Shanghai Fudan, Guolian Securities, Joinn Lab, Great Wall Motor, Tsingtao Brewery.


A-H Premium Weekly (Dec 9th): Weichai Power, Shanghai Fudan, Guolian, Joinn Lab, GWC, Tsingtao

<ul>
<li>We analyse the changes of A-H premium on 142 stocks over the last week. The average A-H premium was 118.8% as of Dec 2nd.</li>
<li>The average A-H premium changed by 0.6ppt week on week, led by consumer staples, real estate, information technology and offset by consumer discretionary, materials.</li>
<li>We highlight weekly changes in A-H premium for China Longyuan, Ganfeng Lithium, China Minsheng, Guolian Securities, Shanghai Fudan, Red Star Macalline, Joinn Lab, Cosco Shipping Energy, Great Wall Mortor.</li>
</ul>


We analyse the changes of A-H premium on 142 stocks over the last week. The average A-H premium was 118.8% as of Dec 2nd.
The average A-H premium changed by 0.6ppt week on week, led by consumer staples, real estate, information technology and offset by consumer discretionary, materials.
We highlight weekly changes in A-H premium for China Longyuan, Ganfeng Lithium, China Minsheng, Guolian Securities, Shanghai Fudan, Red Star Macalline, Joinn Lab, Cosco Shipping Energy, Great Wall Mortor.


A-H Premium Weekly (Dec 2nd): China Longyuan, Ganfeng Lithium

<ul>
<li>We analyse the changes of A-H premium on 142 stocks over the last week. The average A-H premium was 121.4% as of Nov 18th.</li>
<li>The average A-H premium changed by -7.0ppt weeok on week, led by consumer discretionary, industrials, communication services and offset by consumer staples.</li>
<li>We highlight weekly changes in A-H premium for China Longyuan, GF Securities, Great Wall Motor, COSCO Shipping Energy. </li>
</ul>


We analyse the changes of A-H premium on 142 stocks over the last week. The average A-H premium was 121.4% as of Nov 18th.
The average A-H premium changed by -7.0ppt weeok on week, led by consumer discretionary, industrials, communication services and offset by consumer staples.
We highlight weekly changes in A-H premium for China Longyuan, GF Securities, Great Wall Motor, COSCO Shipping Energy. 


A-H Premium Weekly (Nov 18th): China Longyuan, GF Securities, Great Wall Motor

<ul>
<li>We analyse the changes of A-H premium on 142 stocks over the last week. The average A-H premium was 130.7% as of Nov 4th.</li>
<li>The average A-H premium changed by -4.4ppt weeok on week, led by health care, financials, utilities and offset by consumer staples, real estate, consumer discretionary.</li>
<li>We highlight weekly changes in A-H premium for First Tractor, Maanshan Iron, Datang Intl, Cansino, Jushi, Fudan Microelectronics.</li>
</ul>


We analyse the changes of A-H premium on 142 stocks over the last week. The average A-H premium was 130.7% as of Nov 4th.
The average A-H premium changed by -4.4ppt weeok on week, led by health care, financials, utilities and offset by consumer staples, real estate, consumer discretionary.
We highlight weekly changes in A-H premium for First Tractor, Maanshan Iron, Datang Intl, Cansino, Jushi, Fudan Microelectronics.


A-H Premium Weekly (Nov 4th): First Tractor, Maanshan Iron

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

<ul>
<li>After a downturn in 2019,Consun has turned things around and achieved amazing results in 2021. Its core business was not affected by VBP. Consun will continue to make further progress.</li>
<li>Consun is undervalued if compared with industry average, the peers and considering its large cash balance. Share prices have decent upside potential, driven by fundamentals, promising outlook and favorable policies.</li>
<li>Wanbangde’s intention to acquire Consun’s shares at high price would also be a catalyst. We recommended investors to follow Consun closely, which has certain investment value based on our analysis.</li>
</ul>


After a downturn in 2019,Consun has turned things around and achieved amazing results in 2021. Its core business was not affected by VBP. Consun will continue to make further progress.
Consun is undervalued if compared with industry average, the peers and considering its large cash balance. Share prices have decent upside potential, driven by fundamentals, promising outlook and favorable policies.
Wanbangde’s intention to acquire Consun’s shares at high price would also be a catalyst. We recommended investors to follow Consun closely, which has certain investment value based on our analysis.


Consun Pharmaceutical (1681HK)- High-Priced Acquisition & Good Performance Show Big Upside Potential

China

Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. manufactures and sells Chinese patent medicine. The Company also wholesales, retails, imports, and exports Western and Chinese pharmaceutical products and various medical apparatus.

Guangzhou Baiyunshan Pharmaceutical Holdings (874 HK)

Guangzhou Baiyunshan Pharmaceutical Holdings

Price Gauge
52-week Range	0.00 - 0.00
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Guangzhou Baiyunshan Pharmaceutical Holdings (874 HK)

A-H Premium Weekly (Dec 9th): Weichai Power, Shanghai Fudan, Guolian, Joinn Lab, GWC, Tsingtao

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Weichai Power, Shanghai Fudan, Guolian Securities, Joinn...

Ke Yan, CFA, FRM

A-H Premium Weekly (Dec 2nd): China Longyuan, Ganfeng Lithium

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China Longyuan, Ganfeng Lithium, Shanghai Fudan, Red Star...

Ke Yan, CFA, FRM

A-H Premium Weekly (Nov 18th): China Longyuan, GF Securities, Great Wall Motor

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China Longyuan, GF Securities, Great Wall Motor, COSCO...

Ke Yan, CFA, FRM

A-H Premium Weekly (Nov 4th): First Tractor, Maanshan Iron

We analyzed A-H premium changes in the past week and highlight A-H premium changes for First Tractor, Maanshan Iron, Datang Intl, Cansino, Jushi,...

Ke Yan, CFA, FRM

Consun Pharmaceutical (1681HK)- High-Priced Acquisition & Good Performance Show Big Upside Potential

Consun achieved amazing 2021 results and is undervalued. Wanbangde’s intention to acquire Consun at high price is a catalyst. Shares have big...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)