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 146 stocks over the last week. The average A-H premium was 127.6% as of Dec 22nd.</li>
<li>The average A-H premium changed by -0.9ppt week on week, led by communication services, real estate, utilities and offset by health care, consumer discretionary.</li>
<li>We highlight weekly changes in A-H premium for China Tourism, Ping An Insurance, China Southern, BYD, Fuyao Glass Industry.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 127.6% as of Dec 22nd.
The average A-H premium changed by -0.9ppt week on week, led by communication services, real estate, utilities and offset by health care, consumer discretionary.
We highlight weekly changes in A-H premium for China Tourism, Ping An Insurance, China Southern, BYD, Fuyao Glass Industry.


A-H Premium Weekly (Dec 22nd): China Tourism, Ping An Insurance, China Southern, BYD

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Dec 15th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Techtronic Ind, Link Reit, Jd, HSBC, Wuxi Bio, East Buy.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Dec 15th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Techtronic Ind, Link Reit, Jd, HSBC, Wuxi Bio, East Buy.


HK Short Interest Weekly: Techtronic Ind, Link Reit, Jd, HSBC, Wuxi Bio, East Buy

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Contemporary Amperex Technology (CATL) / Event-Driven

<ul>
<li>The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.</li>
<li>Last week saw NORTHBOUND net sell RMB 2.2bn of A-shares on sharply lighter activity. Quieter all week.</li>
<li>Looking at the change in the weekly position charts over the last year is striking (easiest in the Sectors table to start). Still.</li>
</ul>


The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.
Last week saw NORTHBOUND net sell RMB 2.2bn of A-shares on sharply lighter activity. Quieter all week.
Looking at the change in the weekly position charts over the last year is striking (easiest in the Sectors table to start). Still.


Mainland Connect NORTHBOUND Flows (To 22 Dec 23): CATL Is the BIG BUY This Week

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy 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>NIO/1211 HK：Germany ended EV subsidy, impacting Chinese makers little for now (-)</li>
<li>LI/NIO/XPEV/300274 CH/300750 CH/601012 CH/JKS: China customs export data for November (-)</li>
<li>LKNCY :  “ Thailand Luckin ” countersues Luckin Coffee  (/)</li>
</ul>


NIO/1211 HK：Germany ended EV subsidy, impacting Chinese makers little for now (-)
LI/NIO/XPEV/300274 CH/300750 CH/601012 CH/JKS: China customs export data for November (-)
LKNCY :  “ Thailand Luckin ” countersues Luckin Coffee  (/)


[Blue Lotus Daily]: NIO/1211 HK/LI/XPEV/300274 CH/300750 CH/601012 CH/JKS/ LKNCY

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

<ul>
<li>Improved sentiment in Asia Ex-Japan Autos sector as sustained increases in positioning continue through 2023.</li>
<li>BYD Company most widely held but stabilizing; Li Auto sees increased buying. Sector 7th most owned, underweight by -0.85%.</li>
<li>Rising Allocations, Low Historical Positioning and Net Underweight Suggest Potential Continued Demand for Auto Stocks</li>
</ul>


Improved sentiment in Asia Ex-Japan Autos sector as sustained increases in positioning continue through 2023.
BYD Company most widely held but stabilizing; Li Auto sees increased buying. Sector 7th most owned, underweight by -0.85%.
Rising Allocations, Low Historical Positioning and Net Underweight Suggest Potential Continued Demand for Auto Stocks


Asian Autos: Increasing Exposure Reflects Rising Market Confidence

China

BYD Company Limited manufactures automotive products. The Company produces ordinary passenger cars, commercial vehicles, and other products. BYD also operates battery making, rail transportation construction, and other businesses.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

BYD (002594 CH)

A-H Premium Weekly (Dec 22nd): China Tourism, Ping An Insurance, China Southern, BYD

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China Tourism, Ping An Insurance, China Southern, BYD, Fuyao...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Techtronic Ind, Link Reit, Jd, HSBC, Wuxi Bio, East Buy

We analyzed the latest HK SFC report for aggregate short position as of Dec 15th and highlight short interest changes in Techtronic Ind, Link Reit,...

Ke Yan, CFA, FRM

Mainland Connect NORTHBOUND Flows (To 22 Dec 23): CATL Is the BIG BUY This Week

NORTHBOUND was slightly net sell at -2.2bn RMB on the week but notably, the week was flat through Thursday. CATL was the big buy.

Travis Lundy

[Blue Lotus Daily]: NIO/1211 HK/LI/XPEV/300274 CH/300750 CH/601012 CH/JKS/ LKNCY

Germany ending EV subsidies has little immediate impact on Chinese makers. China's customs export data for November shows a decline. "Thailand...

Blue Lotus Research Institute

Asian Autos: Increasing Exposure Reflects Rising Market Confidence

Improved sentiment in Asia Ex-Japan Autos sector as sustained increases in positioning from active funds continue through 2023.

Steven Holden

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

A-H Premium Weekly (Dec 22nd): China Tourism, Ping An Insurance, China Southern, BYD

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China Tourism, Ping An Insurance, China Southern, BYD, Fuyao...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Techtronic Ind, Link Reit, Jd, HSBC, Wuxi Bio, East Buy

We analyzed the latest HK SFC report for aggregate short position as of Dec 15th and highlight short interest changes in Techtronic Ind, Link Reit,...

Ke Yan, CFA, FRM

Mainland Connect NORTHBOUND Flows (To 22 Dec 23): CATL Is the BIG BUY This Week

NORTHBOUND was slightly net sell at -2.2bn RMB on the week but notably, the week was flat through Thursday. CATL was the big buy.

Travis Lundy

[Blue Lotus Daily]: NIO/1211 HK/LI/XPEV/300274 CH/300750 CH/601012 CH/JKS/ LKNCY

​Germany ending EV subsidies has little immediate impact on Chinese makers. China's customs export data for November shows a decline. "Thailand...

Blue Lotus Research Institute

Asian Autos: Increasing Exposure Reflects Rising Market Confidence

Improved sentiment in Asia Ex-Japan Autos sector as sustained increases in positioning from active funds continue through 2023.

Steven Holden

Germany ending EV subsidies has little immediate impact on Chinese makers. China's customs export data for November shows a decline. "Thailand...