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 December 9th.</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 inflows into HKEx, Ping An H&amp;T, and outflows from Tencent, Xiaomi, Li Ning, Meituan, Country Garden Service.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of December 9th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight inflows into HKEx, Ping An H&amp;T, and outflows from Tencent, Xiaomi, Li Ning, Meituan, Country Garden Service.


Hong Kong Connect Flows (Dec 9th): HKEx, Ping An H&T, Tencent, Xiaomi, Li Ning, Meituan

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 21st.</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 inflows into Tencent Holding Limited, Meituan, Wuxi Biologics.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 21st.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight inflows into Tencent Holding Limited, Meituan, Wuxi Biologics.


Hong Kong Connect Flows (Oct 21st): $3.2bn Inflows

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

<ul>
<li>Fujian will lead 27 provinces to launch the centralized procurement of electrophysiological medical consumables. Its scale is comparable to the national VBP. Unlike many people's optimism, we see potential concerns.</li>
<li>The centralized procurement of orthodontic materials and brackets led by Shaanxi Province has made new progress, which is beyond the expectations of many people since invisible braces are included.</li>
<li>We analyzed China HPV market potential and valuation logic. We expected that the valuation of related companies would have a significant downward space ahead.</li>
</ul>


Fujian will lead 27 provinces to launch the centralized procurement of electrophysiological medical consumables. Its scale is comparable to the national VBP. Unlike many people's optimism, we see potential concerns.
The centralized procurement of orthodontic materials and brackets led by Shaanxi Province has made new progress, which is beyond the expectations of many people since invisible braces are included.
We analyzed China HPV market potential and valuation logic. We expected that the valuation of related companies would have a significant downward space ahead.


China Healthcare Weekly (Oct.21) - Electrophysiology VBP; Orthodontics VBP New Progress; HPV Vaccine

<ul>
<li>The recent rally in healthcare is mainly driven by medical device sector. But investors are advised to exit in time before the truth is revealed.</li>
<li>For pharmaceutical sector, it may not be as lucky as medical device sector.Even if it has followed the positive momentum of medical device sector, stock price would diverge after that.</li>
<li>We won't take any chances on CXO due to geographical conflicts and overseas policy risks, with "no reversal signal". We updated our top picks in various sectors. </li>
</ul>


The recent rally in healthcare is mainly driven by medical device sector. But investors are advised to exit in time before the truth is revealed.
For pharmaceutical sector, it may not be as lucky as medical device sector.Even if it has followed the positive momentum of medical device sector, stock price would diverge after that.
We won't take any chances on CXO due to geographical conflicts and overseas policy risks, with "no reversal signal". We updated our top picks in various sectors. 


About the Recent Rebound in China Healthcare and the Future Direction (Updated Top Picks)

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 14th.</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 inflows into Tencent (700 HK), and Li Auto (2015 HK). </li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 14th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight inflows into Tencent (700 HK), and Li Auto (2015 HK). 


Hong Kong Connect Flows (Oct 14th): Tencent, Li Auto

China

Angelalign Technology Inc. produces and sells medical devices. The Company manufactures and sells Invisible orthodontic without brackets aligner and other products. Angelalign Technology markets its products throughout China.

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Angelalign Technology (6699 HK)

Hong Kong Connect Flows (Dec 9th): HKEx, Ping An H&T, Tencent, Xiaomi, Li Ning, Meituan

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for HKEx, Ping An H&T, Tencent, Xiaomi, Li Ning, Meituan,...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Oct 21st): $3.2bn Inflows

We analyzed the Hong Kong Connect Scheme for last week and highlight $3.2bn inflows last week and flows for Tencent, Meituan, Wuxi Biologics.

Ke Yan, CFA, FRM

China Healthcare Weekly (Oct.21) - Electrophysiology VBP; Orthodontics VBP New Progress; HPV Vaccine

Unlike others' optimism,we see potential concerns in electrophysiology VBP; Orthodontics VBP is beyond expectation since invisible braces are...

Xinyao (Criss) Wang

About the Recent Rebound in China Healthcare and the Future Direction (Updated Top Picks)

There's catalyst in medical device sector, leading to the recent rebound, but investors should exit in time before the truth is revealed. After the...

Xinyao (Criss) Wang

Hong Kong Connect Flows (Oct 14th): Tencent, Li Auto

We analyzed the Hong Kong Connect Scheme for last week and highlight flows for Tencent Holding (700 HK), and Li Auto (2015 HK).

Ke Yan, CFA, FRM

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