China Merchants Bank – An Optical Illusion
CHINA MERCHANTS BANK: CMB's QOQ 3Q21 adjusted core operating result declined 41.2%, by our calculation. Net new problem loans continue to...
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Ping An Insurance – Breaking The Bank
PING AN: PAB reported 3Q21 QOQ growth of 55.0%. Credit quality was abysmal and Ping An is pulling on its bank lever to offset another quarter self...
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Ping An A/H: Discount Turns to a BIG Premium
Ping An A-shs are now trading at a 11% premium to the H-shs. This is in the 95th percentile and is partly driven by the buyback on A-shs. We like a...
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China Evergrande Group – Shoes Dropping At Shenjing
EVERGRANDE: Before the Evergrande debacle, Shenjing posted core operating losses and liquidity stress. Despite this, Shengjing Finance absolved...
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Asia Ex-Japan Positioning: India & Tech at Record Highs
In this analysis, we provide a detailed overview of investor positioning among 96 active Asia Ex-Japan funds with combined AUM of $80bn.
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