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 Hong Kong Connect flows with our data engine for holding position as of November 15th.</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 Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx, CNOOC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 15th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx, CNOOC.


Hong Kong Connect Flows (Nov 15th): Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx, CNOOC

Equity Bottom-Up

<ul>
<li>China announced game approval for the October batch. The number of games approved remained at a higher level than 2023.</li>
<li>The pace of China game approval appears to have accelerated to the same level as pre-tightening.</li>
<li>None of the companies that we are tracking got any approval for October batch.</li>
</ul>


China announced game approval for the October batch. The number of games approved remained at a higher level than 2023.
The pace of China game approval appears to have accelerated to the same level as pre-tightening.
None of the companies that we are tracking got any approval for October batch.


Tencent/Netease: Zeroed Again After Three Months

Equity Capital Markets

<ul>
<li>China announced game approval for the September batch. The number of games approved remained at a higher level than 2023.</li>
<li>The pace of China game approval appears to have accelerated to the same level as pre-tightening.</li>
<li>Of the companies that we are monitoring, Tencent and Kingsoft got one approval each.</li>
</ul>


China announced game approval for the September batch. The number of games approved remained at a higher level than 2023.
The pace of China game approval appears to have accelerated to the same level as pre-tightening.
Of the companies that we are monitoring, Tencent and Kingsoft got one approval each.


Tencent/Netease: One Approval for Tencent in September

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 2nd.</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, China Petroleum &amp; Chemical Corporation, BOC, Power Assets, HSBC, China Mobile.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 2nd.
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, China Petroleum &amp; Chemical Corporation, BOC, Power Assets, HSBC, China Mobile.


Hong Kong Connect Flows (Aug 2nd): Tencent, China Petroleum & Chemical Corporation, Power Assets

<ul>
<li>China announced game approval for the June batch. The number of games approved remained at a higher level than 2023.</li>
<li>The pace of China game approval appears to have accelerated to the same level as pre-tightening. Of companies that we are monitoring, none got any approval.</li>
<li>China's CADPA published a semi-annual report pointing to flattish growth of gaming revenue in the first half. </li>
</ul>


China announced game approval for the June batch. The number of games approved remained at a higher level than 2023.
The pace of China game approval appears to have accelerated to the same level as pre-tightening. Of companies that we are monitoring, none got any approval.
China's CADPA published a semi-annual report pointing to flattish growth of gaming revenue in the first half. 


Tencent/Netease: Zero for Major Names; Industry Revenue Growth Flattish in First Half

China

iDreamSky Technology Holdings Limited operates as a holding company. The Company, through its subsidiaries, designs, develops, and distributes video games for mobile, consoles, PC, and tablets, as well as offers live gaming services. iDreamSky Technology Holdings serves customers worldwide.

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iDreamsky Technology Limited (1119 HK)

Hong Kong Connect Flows (Nov 15th): Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx, CNOOC

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx,...

Ke Yan, CFA, FRM

Tencent/Netease: Zeroed Again After Three Months

We analyzed the game approval issued by NPPA for Chinese online game players for the month of October. None of the stocks we are tracking got any...

Ke Yan, CFA, FRM

Tencent/Netease: One Approval for Tencent in September

We analyzed the game approval issued by NPPA for Chinese online game players for September. Tencent and Kingsoft obtained approval for one game...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Aug 2nd): Tencent, China Petroleum & Chemical Corporation, Power Assets

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Tencent, China Petroleum & Chemical Corporation, BOC,...

Ke Yan, CFA, FRM

Tencent/Netease: Zero for Major Names; Industry Revenue Growth Flattish in First Half

We analyzed the July China game approval data. Though China is approving games at an speed that is upbeat for investors, concerns remains as to...

Ke Yan, CFA, FRM

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