Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Capital Markets

<ul>
<li>SF Holding's domestic parcel volumes have grown slower than overall market volumes recently; is this strategic, or simply a loss of share?</li>
<li>SF Holding is not closely aligned with any of the large online retail platforms in China; ultimately, is this independence an advantage or a disadvantage?</li>
<li>When will SF Holdings' varied international operations -- and there are a few of them -- begin to pull their own weight, in terms of profitability and growth?</li>
</ul>


SF Holding's domestic parcel volumes have grown slower than overall market volumes recently; is this strategic, or simply a loss of share?
SF Holding is not closely aligned with any of the large online retail platforms in China; ultimately, is this independence an advantage or a disadvantage?
When will SF Holdings' varied international operations -- and there are a few of them -- begin to pull their own weight, in terms of profitability and growth?


SF Holding Pre-IPO: Three Important Issues for Long-Term Investors to Consider

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>With one trading day left in the review period, we expect one change with <a href="https://www.smartkarma.com/entities/china-merchants-securities-co-4f5d644c-0051-426f-9706-eaa74b0ba280" target="_blank" data-smartkarma-citation="entities:22738:1" rel="noopener">China Merchants Securities Co Ltd (H) (6099 HK)</a> replacing <a href="https://www.smartkarma.com/entities/yankuang-energy-group" target="_blank" data-smartkarma-citation="entities:384:1" rel="noopener">Yankuang Energy Group (1171 HK)</a> in December.</li>
<li>Capping will result in selling for <a href="https://www.smartkarma.com/entities/meituan" target="_blank" data-smartkarma-citation="entities:26970:1" rel="noopener">Meituan (3690 HK)</a> and buying in <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> and <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>. </li>
<li>Short interest has jumped on both stocks, but the increase is far higher in <a href="https://www.smartkarma.com/entities/china-merchants-securities-co-4f5d644c-0051-426f-9706-eaa74b0ba280" target="_blank" data-smartkarma-citation="entities:22738:1" rel="noopener">China Merchants Securities Co Ltd (H) (6099 HK)</a> compared to <a href="https://www.smartkarma.com/entities/yankuang-energy-group" target="_blank" data-smartkarma-citation="entities:384:1" rel="noopener">Yankuang Energy Group (1171 HK)</a>. </li>
</ul>


With one trading day left in the review period, we expect one change with China Merchants Securities Co Ltd (H) (6099 HK) replacing Yankuang Energy Group (1171 HK) in December.
Capping will result in selling for Meituan (3690 HK) and buying in Tencent (700 HK) and Alibaba Group Holding (9988 HK). 
Short interest has jumped on both stocks, but the increase is far higher in China Merchants Securities Co Ltd (H) (6099 HK) compared to Yankuang Energy Group (1171 HK). 


FXI Rebalance Preview: One Change in December as Shorts Spike

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.

Equity Bottom-Up

Alibaba Group Holding  / Equity Bottom-Up

<ul>
<li>Total revenue grew slightly as we expected in our preview note.</li>
<li>The operating margin improved significantly, but this was due to the shrinks of non-cash items.</li>
<li>However, we believe Alibaba will benefit from the boycott against JD.com and the disposal of Sun Art.</li>
</ul>


Total revenue grew slightly as we expected in our preview note.
The operating margin improved significantly, but this was due to the shrinks of non-cash items.
However, we believe Alibaba will benefit from the boycott against JD.com and the disposal of Sun Art.


Alibaba (BABA US): 2Q25, Weak Quarter, But Waiting for Two Events to Benefit Top Line

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Donald Trump’s victory in the presidential election could be a boon for TikTok, potentially offering the Chinese-owned short-video app a reprieve from the impending federal ban that would cost it one of its biggest markets.</li><li>President Joe Biden signed a bill into law this April that gave a choice to ByteDance Ltd., the Chinese parent company of TikTok — sell the app by January next year or face a ban from the country’s app stores.</li><li>The reason given for the bill was concern that Beijing could access U.S. users’ information and use TikTok to influence citizens — although TikTok denied both claims.</li></ul>

Donald Trump’s victory in the presidential election could be a boon for TikTok, potentially offering the Chinese-owned short-video app a reprieve from the impending federal ban that would cost it one of its biggest markets.President Joe Biden signed a bill into law this April that gave a choice to ByteDance Ltd., the Chinese parent company of TikTok — sell the app by January next year or face a ban from the country’s app stores.The reason given for the bill was concern that Beijing could access U.S. users’ information and use TikTok to influence citizens — although TikTok denied both claims.

CX Daily: How Trump’s Return Might Be a Boon for TikTok 

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>3690 HK/ JD US: Yonghui Superstores and Meituan Begin Cooperation.（+/-）</li>
<li>700 HK: Tencent Announces New Mobile Game &lt;Monster Hunter: Traveler&gt; in Collaboration with CAPCOM (+)</li>
<li>700 HK: Ex-CAPCOM Renowned Game Producer Joins Tencent’s Lightspeed Japan Studio (+)</li>
</ul>


3690 HK/ JD US: Yonghui Superstores and Meituan Begin Cooperation.（+/-）
700 HK: Tencent Announces New Mobile Game &lt;Monster Hunter: Traveler&gt; in Collaboration with CAPCOM (+)
700 HK: Ex-CAPCOM Renowned Game Producer Joins Tencent’s Lightspeed Japan Studio (+)


[Blue Lotus Daily-TMT Update]:3690 HK/JD US/700 HK/BIDU US/BABA US/PDD US

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)

SF Holding Pre-IPO: Three Important Issues for Long-Term Investors to Consider

Investors evaluating SF Holding's upcoming Hong Kong listing need to get comfortable with three important long-term issues currently facing the...

Tracking Traffic

FXI Rebalance Preview: One Change in December as Shorts Spike

China Merchants Sec could replace Yankuang Energy in the ETF in Dec. There is over 1x ADV to sell in Yankuang. Capping will lead to selling in...

Brian Freitas

Alibaba (BABA US): 2Q25, Weak Quarter, But Waiting for Two Events to Benefit Top Line

Total revenue grew slightly and the margin improvement was due to the shrinks of non-cash items. However, we believe Alibaba will benefit from the...

Ming Lu

CX Daily: How Trump’s Return Might Be a Boon for TikTok

China-U. S. / Analysis: How Trump’s return might be a boon for TikTok Donald Trump’s victory in the presidential election could be a boon for...

Caixin Global

[Blue Lotus Daily-TMT Update]:3690 HK/JD US/700 HK/BIDU US/BABA US/PDD US

Yonghui Superstores and Meituan partner up, Tencent announces new mobile game collaboration with CAPCOM and hires ex-CAPCOM producer for...

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

SF Holding Pre-IPO: Three Important Issues for Long-Term Investors to Consider

Investors evaluating SF Holding's upcoming Hong Kong listing need to get comfortable with three important long-term issues currently facing the...

Tracking Traffic

FXI Rebalance Preview: One Change in December as Shorts Spike

China Merchants Sec could replace Yankuang Energy in the ETF in Dec. There is over 1x ADV to sell in Yankuang. Capping will lead to selling in...

Brian Freitas

Alibaba (BABA US): 2Q25, Weak Quarter, But Waiting for Two Events to Benefit Top Line

Total revenue grew slightly and the margin improvement was due to the shrinks of non-cash items. However, we believe Alibaba will benefit from the...

Ming Lu

CX Daily: How Trump’s Return Might Be a Boon for TikTok

China-U. S. / Analysis: How Trump’s return might be a boon for TikTok Donald Trump’s victory in the presidential election could be a boon for...

Caixin Global

[Blue Lotus Daily-TMT Update]:3690 HK/JD US/700 HK/BIDU US/BABA US/PDD US

​Yonghui Superstores and Meituan partner up, Tencent announces new mobile game collaboration with CAPCOM and hires ex-CAPCOM producer for...

Blue Lotus Research Institute

Yonghui Superstores and Meituan partner up, Tencent announces new mobile game collaboration with CAPCOM and hires ex-CAPCOM producer for...