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 monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight inflows into Alibaba, Xiaomi, SMIC, Geely, CCB and outflows from Meituan.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight inflows into Alibaba, Xiaomi, SMIC, Geely, CCB and outflows from Meituan.


Hong Kong Connect Flows (October): $12 Bn Inflows

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Semiconductor Manufacturing International Corp (SMIC) / Event-Driven

Semiconductor Manufacturing International Corp (SMIC)

<ul>
<li>SOUTHBOUND had a huge week on a net basis on smallest gross in weeks. Last week I said I expected High-div SOEs to continue being sold. They were sold again.</li>
<li>Consumer Discretionary, Healthcare, Utilities saw big buying as a percentage of volume traded. Only China Mobile and CNOOC were net sold. Even <a href="https://www.smartkarma.com/entities/china-traditional-chinese-medicine" target="_blank" data-smartkarma-citation="entities:351:1" rel="noopener">China Traditional Chinese Medicine (570 HK)</a> was bought.</li>
<li>There is clearly a HK Risk On angle to the flows this week and last.</li>
</ul>


SOUTHBOUND had a huge week on a net basis on smallest gross in weeks. Last week I said I expected High-div SOEs to continue being sold. They were sold again.
Consumer Discretionary, Healthcare, Utilities saw big buying as a percentage of volume traded. Only China Mobile and CNOOC were net sold. Even China Traditional Chinese Medicine (570 HK) was bought.
There is clearly a HK Risk On angle to the flows this week and last.


HK Connect SOUTHBOUND Flows (To 25 Oct 2024); Everything Bought in BIG Week

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Oct 10th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Smic, Anta Sports, Cspc Pharma, Nci, Meituan, Tencent, Baba.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Oct 10th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Smic, Anta Sports, Cspc Pharma, Nci, Meituan, Tencent, Baba.


HK Short Interest Weekly: Smic, Anta Sports, Cspc Pharma, Nci, Meituan, Tencent, Baba

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

JD Industrial Technology  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jd-industrial-technology-ltd" target="_blank" data-smartkarma-citation="entities:36875:1" rel="noopener">JD Industrial Technology</a> is looking to raise about US$1bn in its upcoming HK IPO.</li>
<li>JDI is a leading industrial supply chain technology and service provider in China in terms of GMV in each year during the Track Record Period, according to CIC.</li>
<li>We have looked at the company background and provided our initial thoughts on valuations in our previous notes. In this note, we will talk about the refiling updates.</li>
</ul>



JD Industrial Technology is looking to raise about US$1bn in its upcoming HK IPO.
JDI is a leading industrial supply chain technology and service provider in China in terms of GMV in each year during the Track Record Period, according to CIC.
We have looked at the company background and provided our initial thoughts on valuations in our previous notes. In this note, we will talk about the refiling updates.


JD Industrials Pre-IPO - Refiling Updates - Few Hits, Few Misses

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Oct 4th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Meituan, Citic Sec, Hkex, Trip.Com, ICBC, CCB, New World Dev.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Oct 4th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Meituan, Citic Sec, Hkex, Trip.Com, ICBC, CCB, New World Dev.


HK Short Interest Weekly: Meituan, Citic Sec, Hkex, Trip.Com, ICBC, CCB, New World Dev

Hong Kong

China Mobile Limited, through its subsidiaries, provides cellular telecommunications and related services in the People's Republic of China and Hong Kong SAR.

Price Gauge
52-week Range	0.00 - 0.00
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China Mobile Ltd Spon Adr (CHL US)

Hong Kong Connect Flows (October): $12 Bn Inflows

We analyzed the Hong Kong Connect Scheme for October and highlighted flows for Alibaba, Xiaomi, SMIC, Geely, CCB, and Meituan.

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (To 25 Oct 2024); Everything Bought in BIG Week

SOUTHBOUND investors go big this week buying everything but China Mobile and CNOOC. Every sector was positive. This is a risk-on move in large net...

Travis Lundy

HK Short Interest Weekly: Smic, Anta Sports, Cspc Pharma, Nci, Meituan, Tencent, Baba

We analyzed the latest HK SFC report for aggregate short position as of Oct 10th and highlight short interest changes in Smic, Anta Sports, Cspc...

Ke Yan, CFA, FRM

JD Industrials Pre-IPO - Refiling Updates - Few Hits, Few Misses

JD Industrial Technology is looking to raise about US$1bn in its upcoming HK IPO. We have looked at its past performance in our earlier notes. In...

Sumeet Singh

HK Short Interest Weekly: Meituan, Citic Sec, Hkex, Trip.Com, ICBC, CCB, New World Dev

We analyzed the latest HK SFC report for aggregate short position as of Oct 4th and highlight short interest changes in Meituan, Citic Sec, Hkex,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)