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 analyzed the changes in short interest of TWSE Stocks as of Nov 15th which has an aggregated short interest worth USD21.5bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Wiwynn, Hon Hai Precision Industry, Ase Industrial, Mitac, Bizlink, Wistron, Alchip Technologies, Lite-On Technology.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Nov 15th which has an aggregated short interest worth USD21.5bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Wiwynn, Hon Hai Precision Industry, Ase Industrial, Mitac, Bizlink, Wistron, Alchip Technologies, Lite-On Technology.


TWSE Short Interest Weekly (Nov 15th): Wiwynn, Hon Hai Precision Industry, Ase Industrial, Mitac

External broker reports(aggregated public sources), Masterlink Securities Corp

Masterlink Securities

External broker reports(aggregated public sources)

Masterlink Securities Corp

MasterLink Securities provide brokerage, securities underwriting, and proprietary trading services in Taiwan. It offers brokerage services, including Taiwan stock exchange and OTC brokerage services, futures trading assistance, foreign securities trading, investment Banking services, and derivative products.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<p>Downgrade to HOLD from BUY with a TP of NT$40. We believe that BenQ Materials’ business transformation plan is clear, with FY22 EPS estimated at NT$3.4. However, share prices are likely to experience fluctuations in the near term as short-term sales may be influenced by downside risks in the panel market and delayed progress in the EV business. Therefore, we downgrade BenQ Materials’ rating to HOLD from BUY, with a target price of NT$40.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Downgrade to HOLD from BUY with a TP of NT$40. We believe that BenQ Materials’ business transformation plan is clear, with FY22 EPS estimated at NT$3.4. However, share prices are likely to experience fluctuations in the near term as short-term sales may be influenced by downside risks in the panel market and delayed progress in the EV business. Therefore, we downgrade BenQ Materials’ rating to HOLD from BUY, with a target price of NT$40.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BenQ Materials (8215 TT) Delayed Launch Schedule by the Automotive Client

Taiwan

BenQ Materials Corp. manufactures and markets CD-R, CD-RW, DVD-R, and DVD-RW. The Company also produces batteries for cellular phones.

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Benq Materials (8215 TT)

TWSE Short Interest Weekly (Nov 15th): Wiwynn, Hon Hai Precision Industry, Ase Industrial, Mitac

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Wiwynn, Hon Hai Precision Industry, Ase...

Ke Yan, CFA, FRM

BenQ Materials (8215 TT) Delayed Launch Schedule by the Automotive Client

Downgrade to HOLD from BUY with a TP of NT$40. We believe that BenQ Materials’ business transformation plan is clear, with FY22 EPS estimated at...

Masterlink Securities

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