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 114.4% as of Sep 8th.</li>
<li>The average A-H premium changed by -3.9ppt week on week, led by real estate, consumer staples, communication services and offset by consumer discretionary.</li>
<li>We highlight weekly changes in A-H premium for Huadian Power, Huaneng Power, Shanghai Elect, China Longyuan, Aluminum Corp.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 114.4% as of Sep 8th.
The average A-H premium changed by -3.9ppt week on week, led by real estate, consumer staples, communication services and offset by consumer discretionary.
We highlight weekly changes in A-H premium for Huadian Power, Huaneng Power, Shanghai Elect, China Longyuan, Aluminum Corp.


A-H Premium Weekly (Sep 8th): Huadian Power, Huaneng Power, Shanghai Electric, China Longyuan

<ul>
<li>We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 117.2% as of Jul 14th.</li>
<li>The average A-H premium changed by -3.0ppt week on week, led by consumer discretionary, consumer staples, utilities and offset by real estate, communication services.</li>
<li>We highlight weekly changes in A-H premium for BankComm, ICBC, ABC, CCB, Remegen.</li>
</ul>


We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 117.2% as of Jul 14th.
The average A-H premium changed by -3.0ppt week on week, led by consumer discretionary, consumer staples, utilities and offset by real estate, communication services.
We highlight weekly changes in A-H premium for BankComm, ICBC, ABC, CCB, Remegen.


A-H Premium Weekly (Jul 14th): 52 Week High A-H for Banks

<ul>
<li>We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 114.6% as of Jun 30th.</li>
<li>The average A-H premium changed by -5.2ppt week on week, led by health care, information technology, consumer discretionary and offset by consumer staples.</li>
<li>We analyzed A-H premium changes in the past week and highlight A-H premium changes for Tianqi Lithium, CQRC Bank, Shanghai Fudan, Joinn Lab, Remegen, Cansino Biologics.</li>
</ul>


We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 114.6% as of Jun 30th.
The average A-H premium changed by -5.2ppt week on week, led by health care, information technology, consumer discretionary and offset by consumer staples.
We analyzed A-H premium changes in the past week and highlight A-H premium changes for Tianqi Lithium, CQRC Bank, Shanghai Fudan, Joinn Lab, Remegen, Cansino Biologics.


A-H Premium Weekly (Jun 30th): Healthcare Led Premium Decline

<ul>
<li>We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 119.0% as of Jun 23rd.</li>
<li>The average A-H premium changed by 4.9ppt week on week, led by information technology, health care, industrials and offset by communication services, financials.</li>
<li>We highlight weekly changes in A-H premium for BYD, CMOC, China Southern, Cansino Biologics, Xinjiang Gold.</li>
</ul>


We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 119.0% as of Jun 23rd.
The average A-H premium changed by 4.9ppt week on week, led by information technology, health care, industrials and offset by communication services, financials.
We highlight weekly changes in A-H premium for BYD, CMOC, China Southern, Cansino Biologics, Xinjiang Gold.


A-H Premium Weekly (Jun 23rd): BYD, CMOC, China Southern, Cansino Biologics, Xinjiang Gold

<ul>
<li>We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 113.9% as of Jun 9th.</li>
<li>The average A-H premium changed by -1.9ppt week on week, led by consumer discretionary, materials, industrials and offset by consumer staples, information technology, communication services.</li>
<li>We highlight weekly changes in A-H premium for BYD Co Ltd and China Construction Bank.</li>
</ul>


We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 113.9% as of Jun 9th.
The average A-H premium changed by -1.9ppt week on week, led by consumer discretionary, materials, industrials and offset by consumer staples, information technology, communication services.
We highlight weekly changes in A-H premium for BYD Co Ltd and China Construction Bank.


China

Huadian Power International Corporation Limited generates and sells electricity which is all fed into the Shandong Provincial Grid operated by Shandong Electric Power (Group) Corporation (SEPCO), the immediate holding company of the Company.  The Company also sells heat.

Jiangsu Eastern Shenghong Co., Ltd. manufactures and distributes textile products. The Company produces polyester filament and other chemical fiber products. Jiangsu Eastern Shenghong also conducts electricity-heat generation and petrochemical businesses.

Jiangsu Eastern Shenghong Co., Ltd. (000301 CH)

Guangxi Guiguan Electric Power Co.,Ltd. operates power generation businesses. The Company provides hydroelectric power and other power products. Guangxi Guiguan Electric Power also produces thermal power, wind power, and other power products.

Datang International Power Generation Co.,Ltd offers power generation services. The Company provides power project development, electricity transmission, and power distribution services. Datang International Power Generation also conducts coal, coal chemistry, transport, and recycling businesses.

Datang International Power Gen (601991 CH)

Huaneng Power International, Inc. develops, constructs, owns and operates coal-fired power plants throughout China. It also builds gas-fired, hydroelectric and wind power generation in China and owns Tuas Power which controls power generation facilities in Singapore.

Shenergy Company Limited develops, constructs, and invests in electric power and other energy related projects.  The Company distributes electric power, heat, and gas.

Hubei Energy Group Co Ltd is principally engaged in power generation, natural gas distribution, and coal trading businesses. The Company's products include hydropower, thermal power, wind power, coal, and natural gas.

Shenzhen Energy Group Company, Ltd. generates and distributes electricity and gas. The Company supplies power to cities in the Peoples Republic of China, including Shenzhen, Huizhou and Dongguan, Guangdong Province.

Shenzhen Energy Group Co, Ltd. (000027 CH)

Shanghai Electric Power Co., Ltd. operates coal-fired power plants to generate electric power and heat for the Shanghai region.

Shanghai Electric Power Company (600021 CH)

Inner Mongolia MengDian HuaNeng Thermal Power Corp Ltd generates electric power and distributes heat and water. The Company serves western Inner Mongolia area.

Inner Mongolia Mengdian Huaneng Thermal (600863 CH)

Engie Brasil Energia S.A. operates as an independent power producer. The Company offers exploration and production, transportation, distribution, and trading of electricity and natural gas. Engie Brasil Energia serves customers in Brazil.

Talen Energy Corporation provides utility services. The Company generates, distributes, transmits, and markets electricity, as well as produces and supplies natural gas and other renewable energy products for residential and commercial users. Talen Energy serves customers in the United States.

China Power International Development Limited, through its subsidiaries, develops, constructs, owns, manages, and operates large power plants in China.

Meridian Energy Ltd. operates as a state-owned electricity generator. The Company produces hydro-electric power and supplies electricity to residential, business, and rural customers. Meridian Energy provides services throughout New Zealand.

Neyveli Lignite Corporation Limited generates and distributes power, mines and processes lignite, manufactures fertilizers & chemicals and processes and sells clay of all kinds. The Company's other activities include the briquetting and carbonization of lignite and its main products include electric power, lignite, nekolin, pulverized nekolin, urea, coke fines and leco.

Algonquin Power & Utilities Corp. owns and has interests in a diverse portfolio of renewable power generation and sustainable infrastructure assets across North America. The Company's interests include renewable energy facilities, thermal energy facilities, and water distribution and waste-water facilities.

Aboitiz Power Corporation provides hydroelectric power generation.

Ormat Technologies, Inc. develops and operates renewable energy projects. The Company offers geothermal, recovered energy, and energy management and storage solutions. Ormat Technologies serves customers worldwide.

Greencoat U.K. Wind PLC is a closed-end investment trust incorporated in the UK. The Fund invests in wind farm projects predominantly with a capacity of over 10MW. The substantial majority of the portfolio will be operating UK wind farm projects. The Company will invest in equity and associated debt instruments when making acquisitions in wind farms.

Capital Power Corporation operates a diversified portfolio of power generating facilities. The Company develops, acquiring and optimizing power generation from a diverse range of energy sources.

China Longyuan Power Group Corp Ltd designs, develops, manages, and operates wind farms.  The Company also sells the electricity generated by the wind farms.

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China Longyuan Power (916 HK)

A-H Premium Weekly (Sep 8th): Huadian Power, Huaneng Power, Shanghai Electric, China Longyuan

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Huadian Power, Huaneng Power, Shanghai Electric, China...

Ke Yan, CFA, FRM

A-H Premium Weekly (Jul 14th): 52 Week High A-H for Banks

We analyzed A-H premium changes in the past week and highlight A-H premium changes for BankComm, ICBC, ABC, CCB, Remegen.

Ke Yan, CFA, FRM

A-H Premium Weekly (Jun 30th): Healthcare Led Premium Decline

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Tianqi Lithium, CQRC Bank, Shanghai Fudan, Joinn Lab,...

Ke Yan, CFA, FRM

A-H Premium Weekly (Jun 23rd): BYD, CMOC, China Southern, Cansino Biologics, Xinjiang Gold

We analyzed A-H premium changes in the past week and highlight A-H premium changes for BYD, CMOC, China Southern, Cansino Biologics, Xinjiang Gold.

Ke Yan, CFA, FRM

A-H Premium Weekly (Jun 9th): BYD, CCB

We analyzed A-H premium changes in the past week and highlight A-H premium changes for BYD Co Ltd, and China Construction Bank.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)