Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The data in this insight is collated from the "shareholding disclosure" link on the HKEx website.</li>
<li>Often there is a corresponding HKEx announcement on the increase - or decrease - in the shareholding by directors. Or pledging. However, such disclosures are by no means an absolute.</li>
<li>The key stock mentioned in this regular insight is <strong><a href="https://www.smartkarma.com/entities/china-feihe-ltd" target="_blank" data-smartkarma-citation="entities:24413:1" rel="noopener">China Feihe (6186 HK)</a></strong>
</li>
</ul>


The data in this insight is collated from the "shareholding disclosure" link on the HKEx website.
Often there is a corresponding HKEx announcement on the increase - or decrease - in the shareholding by directors. Or pledging. However, such disclosures are by no means an absolute.
The key stock mentioned in this regular insight is China Feihe (6186 HK)



Hong Kong CEO & Director Dealings (21 June): China Feihe's CFO Sells Around All-Time Low

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 June 16th.</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 estimate the inflows to be USD 1.5bn and highlight flows for CCB.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of June 16th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We estimate the inflows to be USD 1.5bn and highlight flows for CCB.


IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Yashili International Holdings / Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/yashili-international-holdings-ltd" target="_blank" data-smartkarma-citation="entities:3397:1" rel="noopener">Yashili International Holdings (1230 HK)</a> scheme document is out with the court meeting scheduled for 23 June. The IFA considers the HK$1.20 per share offer to be fair and reasonable. </li>
<li>Key conditions include approval by at least 75% disinterested shareholders (&lt;10% disinterested shareholders rejection). The shareholder with a blocking stake should be supportive.</li>
<li>This is a done deal. At the last close and for the 13 July payment, the gross and annualised spread is 1.7% and 15.3%, respectively.</li>
</ul>


The Yashili International Holdings (1230 HK) scheme document is out with the court meeting scheduled for 23 June. The IFA considers the HK$1.20 per share offer to be fair and reasonable. 
Key conditions include approval by at least 75% disinterested shareholders (&lt;10% disinterested shareholders rejection). The shareholder with a blocking stake should be supportive.
This is a done deal. At the last close and for the 13 July payment, the gross and annualised spread is 1.7% and 15.3%, respectively.


Yashili (1230 HK): Scheme Vote on 23 June

<ul>
<li>At long last, <strong><a href="https://www.smartkarma.com/entities/yashili-international-holdings-ltd" target="_blank" data-smartkarma-citation="entities:3397:1" rel="noopener">Yashili International Holdings (1230 HK)</a></strong> has dispatched the Scheme Document. </li>
<li>The Court Meeting and EGM will be held on the 23 June. The IFA says the Offer is fair. At a ~160% premium to undisturbed, it certainly is. </li>
<li>Assuming the transaction gets up, payment will occur on or before the 13 July. </li>
</ul>


At long last, Yashili International Holdings (1230 HK) has dispatched the Scheme Document. 
The Court Meeting and EGM will be held on the 23 June. The IFA says the Offer is fair. At a ~160% premium to undisturbed, it certainly is. 
Assuming the transaction gets up, payment will occur on or before the 13 July. 


Yashili (1230 HK): ​Scheme Doc Out. 23 June Court Meeting

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of May 25th.</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 flows for Tencent, China Mobile, Li Ning, China Construction Bank.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of May 25th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent, China Mobile, Li Ning, China Construction Bank.


Hong Kong Connect Flows (May 25th): Tencent, China Mobile, Li Ning, China Construction Bank

China

China Feihe Limited manufactures and sells dairy products. The Company provides infant milk formula products processing, production, marketing, and other services. China Feihe also sells infant milk formula products on some electronic commerce platforms.

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

China Feihe (6186 HK)

Hong Kong CEO & Director Dealings (21 June): China Feihe's CFO Sells Around All-Time Low

Feihe is cheap. It's not at all clear why Lin Hua would opt to kick out a chunk of his stake at these levels. Valuation-wise, I'd be getting some...

David Blennerhassett

Hong Kong Connect Flows (Jun 16th): CCB

We analyzed the Hong Kong Connect Scheme for last week. We estimate the inflows to be USD 1.5bn and highlight flows for China Construction Bank.

Ke Yan, CFA, FRM

Yashili (1230 HK): Scheme Vote on 23 June

This is a done deal. At the last close and for the 13 July payment, the gross and annualised spread is 1.7% and 15.3%, respectively.

Arun George

Yashili (1230 HK): Scheme Doc Out. 23 June Court Meeting

Trading tightish at a 1.7%/15.3% gross/annualised spread assuming payment on the 13 July. This is done - get involved here or a spread or two below.

David Blennerhassett

Hong Kong Connect Flows (May 25th): Tencent, China Mobile, Li Ning, China Construction Bank

We analyzed the Hong Kong Connect Scheme for last week and highlight flows for Tencent, China Mobile, Li Ning, China Construction Bank。

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong CEO & Director Dealings (21 June): China Feihe's CFO Sells Around All-Time Low

Feihe is cheap. It's not at all clear why Lin Hua would opt to kick out a chunk of his stake at these levels. Valuation-wise, I'd be getting some...

David Blennerhassett

Hong Kong Connect Flows (Jun 16th): CCB

We analyzed the Hong Kong Connect Scheme for last week. We estimate the inflows to be USD 1.5bn and highlight flows for China Construction Bank.

Ke Yan, CFA, FRM

Yashili (1230 HK): Scheme Vote on 23 June

This is a done deal. At the last close and for the 13 July payment, the gross and annualised spread is 1.7% and 15.3%, respectively.

Arun George

Yashili (1230 HK): ​Scheme Doc Out. 23 June Court Meeting

Trading tightish at a 1.7%/15.3% gross/annualised spread assuming payment on the 13 July. This is done - get involved here or a spread or two below.

David Blennerhassett

Hong Kong Connect Flows (May 25th): Tencent, China Mobile, Li Ning, China Construction Bank

We analyzed the Hong Kong Connect Scheme for last week and highlight flows for Tencent, China Mobile, Li Ning, China Construction Bank。

Ke Yan, CFA, FRM

Yashili (1230 HK): Scheme Doc Out. 23 June Court Meeting