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 analyse the changes of A/H premium on 136 stocks over the last week.</li>
<li>A/H premium increase was led by consumer Staples and consumer discretionary and industrials sectors.</li>
<li>We highlight A/H premium at 52 week peak: BYD, Xinjiang Gold Wind, Ganfeng Lithium. </li>
</ul>


We analyse the changes of A/H premium on 136 stocks over the last week.
A/H premium increase was led by consumer Staples and consumer discretionary and industrials sectors.
We highlight A/H premium at 52 week peak: BYD, Xinjiang Gold Wind, Ganfeng Lithium. 


A/H Premium Weekly: BYD, Xinjiang Gold Wind, Ganfeng Lithium

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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/great-wall-motor-co-ltd-cb302af9-398c-4d2d-ba39-023e43287eef" target="_blank" data-smartkarma-citation="entities:128:1" rel="noopener">Great Wall Motor (2333 HK)</a> could replace <a href="https://www.smartkarma.com/entities/hansoh-pharmaceutical-group" target="_blank" data-smartkarma-citation="entities:23675:1" rel="noopener">Hansoh Pharmaceutical (3692 HK)</a> in the <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index" target="_blank" data-smartkarma-citation="entities:22900:1" rel="noopener">Hang Seng China Enterprises Index (HSCEI INDEX)</a> at the June rebalance. The review period ends 31 March.</li>
<li>
<a href="https://www.smartkarma.com/entities/bilibili-inc-83a27302-cd7d-4e6a-a1de-bcf93eb022c3" target="_blank" data-smartkarma-citation="entities:32215:1" rel="noopener">Bilibili (9626 HK)</a> is a close add while <a href="https://www.smartkarma.com/entities/sunac-china-holdings-ltd" target="_blank" data-smartkarma-citation="entities:240:1" rel="noopener">Sunac China Holdings (1918 HK)</a> is a close delete. Stock prices moves over the next 3 weeks will decide on the changes.</li>
<li>Passive HSCEI Index trackers will need to buy 1.74 days of ADV on Great Wall Motor (2333 HK) and sell over 3 days of ADV on Hansoh Pharmaceutical (3692 HK).</li>
</ul>



Great Wall Motor (2333 HK) could replace Hansoh Pharmaceutical (3692 HK) in the Hang Seng China Enterprises Index (HSCEI INDEX) at the June rebalance. The review period ends 31 March.

Bilibili (9626 HK) is a close add while Sunac China Holdings (1918 HK) is a close delete. Stock prices moves over the next 3 weeks will decide on the changes.
Passive HSCEI Index trackers will need to buy 1.74 days of ADV on Great Wall Motor (2333 HK) and sell over 3 days of ADV on Hansoh Pharmaceutical (3692 HK).


HSCEI Index Rebalance Preview (June): Great Wall Motor (2333) Should Replace Hansoh Pharma (3692)

<ul>
<li>We analyze the weekly Shanghai/Shenzhen Connect flows with our data engine.</li>
<li>Information technology, industrials, and material led the inflow while the financials , consumer discretionary  and consumer staple led the outflows.</li>
<li>We highlight inflows into Longi Green, Sungrow, Jiangxi Ganfeng, Zijin Mining, Yangtze Power, and outflows from BYD, Wuliangye, Ping An Insurance, CATL, and East Money.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen Connect flows with our data engine.
Information technology, industrials, and material led the inflow while the financials , consumer discretionary  and consumer staple led the outflows.
We highlight inflows into Longi Green, Sungrow, Jiangxi Ganfeng, Zijin Mining, Yangtze Power, and outflows from BYD, Wuliangye, Ping An Insurance, CATL, and East Money.


Northbound Flows: Longi Green, Sungrow, Jiangxi Ganfeng, Zijin Mining

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Feb 25. </li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short interest increases in PetroChina and China Life.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Feb 25. 
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short interest increases in PetroChina and China Life.


HK Short Interest: PetroChina, China Life

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

<ul>
<li>NIO announced that it would look to list in the HK by way of introduction with trading set to begin on 10th March 2022.</li>
<li>Unlike a secondary or a dual primary listing, there will be no new capital raised and there will be no secondary shares sold either.</li>
<li>In this note we take a quick look at the deal dynamics.</li>
</ul>


NIO announced that it would look to list in the HK by way of introduction with trading set to begin on 10th March 2022.
Unlike a secondary or a dual primary listing, there will be no new capital raised and there will be no secondary shares sold either.
In this note we take a quick look at the deal dynamics.


China

BYD Company Limited, through its subsidiaries, manufactures and sells automobiles. The Company also researches, develops, manufactures and sells batteries, which are applied on mobile phones, cordless phones, power tools and other kinds of portable electronic devices.

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BYD (1211 HK)

A/H Premium Weekly: BYD, Xinjiang Gold Wind, Ganfeng Lithium

We highlight A/H premium increase led by consumer Staples and consumer discretionary and industrials sectors, and stocks at 52 week high: BYD,...

Ke Yan, CFA, FRM

HSCEI Index Rebalance Preview (June): Great Wall Motor (2333) Should Replace Hansoh Pharma (3692)

Great Wall Motor (2333) should replace Hansoh Pharma (3692) in the HSCEI at the June rebalance. Bilibili is a close add in case Sunac is deleted....

Brian Freitas

Northbound Flows: Longi Green, Sungrow, Jiangxi Ganfeng, Zijin Mining

We highlight weekly Northbound inflows into Longi Green, Sungrow, Jiangxi Ganfeng, Zijin Mining, Yangtze Power, and outflows from BYD, Wuliangye,...

Ke Yan, CFA, FRM

HK Short Interest: PetroChina, China Life

We highlight week on week short interest increases in PetroChina (857 HK) and China Life (2628 HK) based on the latest HK SFC short aggregate report.

Ke Yan, CFA, FRM

NIO HK Listing - Ticking the Box

NIO announced that it would look to list in the HK by way of introduction with trading set to begin on 10th March 2022. In this note, we take a...

Sumeet Singh

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