Independent Sell Side Equity Research Analyst, ChartSmarter

Douglas Busch

Independent Sell Side Equity Research Analyst

ChartSmarter

ChartSmarter is a service dedicated to the art of technical analysis.

On a daily basis we write up actionable ideas on a specific, major S&P sector on both the long and short side, in an easy yet thorough way. In the notes we give precise entries and exits, while looking to capture the "meat" of a trend.

Technical Analysis.

Technical Analysis

KraneShares CSI China Internet ETF / Technical Analysis

<ul>
<li>KWEB giving an attractive entry point here, as it begins to outperform the domestic FDN.</li>
<li>Toyota&gt;Honda and look for that relationship to continue going forward.</li>
<li>JD&gt;BABA, a new dynamic divergence between the two, and my opinion is JD will be the leader in 2024 and beyond.</li>
</ul>


KWEB giving an attractive entry point here, as it begins to outperform the domestic FDN.
Toyota&gt;Honda and look for that relationship to continue going forward.
JD&gt;BABA, a new dynamic divergence between the two, and my opinion is JD will be the leader in 2024 and beyond.


KWEB Attractive, Toyota and JD.com Best in Breed

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Equity Bottom-Up

ZhongAn Online P&C Insurance C / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zhongan-online-p-c-insurance-c" target="_blank" data-smartkarma-citation="entities:23681:1" rel="noopener">ZhongAn Online P&amp;C Insurance C (6060 HK)</a> is benefiting from the cross-selling opportunities  generated through the eco-systems of <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd-d7b798e2-202d-4e01-9a1e-799e2ae8f0c7" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group Holding (9988 HK)</a> and <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a>, its parent companies</li>
<li>Largest solely online insurance company in China with Rmb 30B gross premiums written in 2023.</li>
<li>Expertise and cross-selling from <a href="https://www.smartkarma.com/entities/ping-an-insurance-grp-co-of-china-ltd" target="_blank" data-smartkarma-citation="entities:12880:1" rel="noopener">Ping An Insurance (H) (2318 HK)</a> , another parent company with a jointly run auto insurance business.</li>
</ul>



ZhongAn Online P&amp;C Insurance C (6060 HK) is benefiting from the cross-selling opportunities  generated through the eco-systems of Alibaba Group Holding (9988 HK) and Tencent (700 HK), its parent companies
Largest solely online insurance company in China with Rmb 30B gross premiums written in 2023.
Expertise and cross-selling from Ping An Insurance (H) (2318 HK) , another parent company with a jointly run auto insurance business.


Baba's Babies: Co-Parenting Works! Zhong An Online P&C Insurance

<ul>
<li>It's time to revisit the network of Alibaba's ( <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd-d7b798e2-202d-4e01-9a1e-799e2ae8f0c7" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group Holding (9988 HK)</a> ) affiliated listed companies for near term investment opportunities</li>
<li>After investing in an ecosystem of online and offline companies over the last 10 years, Alibaba is rapidly restructuring its businesses to refocus on its most profitable opportunities</li>
<li>
<a href="https://www.smartkarma.com/entities/sun-art-retail-group-ltd" target="_blank" data-smartkarma-citation="entities:401:1" rel="noopener">Sun Art Retail (6808 HK)</a> will benefit from the synergies of Baba's restructuring</li>
</ul>


It's time to revisit the network of Alibaba's ( Alibaba Group Holding (9988 HK) ) affiliated listed companies for near term investment opportunities
After investing in an ecosystem of online and offline companies over the last 10 years, Alibaba is rapidly restructuring its businesses to refocus on its most profitable opportunities

Sun Art Retail (6808 HK) will benefit from the synergies of Baba's restructuring


BABA's Babies: They're All Grown Up Now! Sun Art Retail: A Restructuring Opportunity

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>In 4Q23, we believe total revenue will grow by 20% YoY and MT will have the fourth profitable quarter.</li>
<li>We believe Douyin will not threaten MT in the long run according to other competitors’ failure.</li>
<li>We believe EPS will reach RMB0.35 in 4Q23 and RMB2.23 in 2023.</li>
</ul>


In 4Q23, we believe total revenue will grow by 20% YoY and MT will have the fourth profitable quarter.
We believe Douyin will not threaten MT in the long run according to other competitors’ failure.
We believe EPS will reach RMB0.35 in 4Q23 and RMB2.23 in 2023.


MT/ Meituan (3690 HK) Earnings Preview: Fourth Positive EPS, 99% Upside

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/softbank-group-corp" target="_blank" data-smartkarma-citation="entities:315:1" rel="noopener">Softbank Group (9984 JP)</a>’s 180-day lock-up period on its 89.75% <a href="https://www.smartkarma.com/entities/arm-holdings-inc" target="_blank" data-smartkarma-citation="entities:21816:1" rel="noopener">ARM Holdings (ARM US)</a> shareholding expires on 12 March. SoftBank’s stake is worth US$124 billion.</li>
<li>SoftBank will likely monetise its ARM stake using the <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba (ADR) (BABA US)</a> playbook. This playbook uses prepaid forward contracts to raise capital with eventual settlement through shares. </li>
<li>ARM is currently trading 2.6x its IPO price on AI-driven hype. ARM trades at a premium multiple to <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a>, despite forecasted lower growth and margin.  </li>
</ul>



Softbank Group (9984 JP)’s 180-day lock-up period on its 89.75% ARM Holdings (ARM US) shareholding expires on 12 March. SoftBank’s stake is worth US$124 billion.
SoftBank will likely monetise its ARM stake using the Alibaba (ADR) (BABA US) playbook. This playbook uses prepaid forward contracts to raise capital with eventual settlement through shares. 
ARM is currently trading 2.6x its IPO price on AI-driven hype. ARM trades at a premium multiple to NVIDIA Corp (NVDA US), despite forecasted lower growth and margin.  


ARM Holdings (ARM US): Lock up Expiry on 12 March

China

Alibaba Group Holding Limited provides online sales services. The Company provides internet infrastructure, electronic commerce, online financial, and internet content services through its subsidiaries. Alibaba Group Holding offers its products and services worldwide.

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Alibaba Group Holding (BABA US)

KWEB Attractive, Toyota and JD.com Best in Breed

Chinese softness feels like a rear view mirror story. Leaders in Japan likely to continue to flourish. Invest accordingly.

Douglas Busch

Baba's Babies: Co-Parenting Works! Zhong An Online P&C Insurance

Zhong An Online Insurance is experience rapid growth through cross selling opportunities from its part owners Alibaba, Tencent and Ping An, as well...

David Mudd

BABA's Babies: They're All Grown Up Now! Sun Art Retail: A Restructuring Opportunity

Alibaba's subsidiary Sun Art Retail stands to benefit from its parent's restructuring initiative, unlocking value for shareholders

David Mudd

MT/ Meituan (3690 HK) Earnings Preview: Fourth Positive EPS, 99% Upside

In 4Q23, we believe total revenue will grow by 20% YoY and MT will book the fourth profitable quarter. We believe Douyin will not threat MT in the...

Ming Lu

ARM Holdings (ARM US): Lock up Expiry on 12 March

SoftBank will likely monetise its ARM stake using the Alibaba playbook. This playbook uses prepaid forward contracts to raise capital with eventual...

Arun George

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