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 139 stocks over the last week.</li>
<li>Real estate, consumer discretionary and information technology led the 5.7ppt A-H premium decline last week.</li>
<li>We highlight stocks including China Southern, Shanghai Junshi, Shanghai Haohai, Shanghai Fudan. </li>
</ul>


We analyse the changes of A/H premium on 139 stocks over the last week.
Real estate, consumer discretionary and information technology led the 5.7ppt A-H premium decline last week.
We highlight stocks including China Southern, Shanghai Junshi, Shanghai Haohai, Shanghai Fudan. 


A-H Premium Weekly: China Southern, Shanghai Junshi, Shanghai Haohai, Shanghai Fudan

<ul>
<li>We analyse the changes of A/H premium on 136 stocks over the last week.</li>
<li>Utilities and consumer staples sectors let the increase of A-H premium while communication services, consumer discretionary and industries led the decrease.</li>
<li>We highlight the following A-H stocks: Shanghai Pharma, China Eastern Air, Huaneng Power, Shenzhen Hepalink.</li>
</ul>


We analyse the changes of A/H premium on 136 stocks over the last week.
Utilities and consumer staples sectors let the increase of A-H premium while communication services, consumer discretionary and industries led the decrease.
We highlight the following A-H stocks: Shanghai Pharma, China Eastern Air, Huaneng Power, Shenzhen Hepalink.


A-H Premium Weekly: Shanghai Pharma, China Eastern Air, Huaneng Power, Shenzhen Hepalink

<ul>
<li>We analyse the changes of A/H premium on 136 stocks over the last week.</li>
<li>The sector with the biggest A/H premium increase was Information Technology (ΔA/H premium=8.4ppt) while the sector with the biggest A/H premium decrease was Communication Services (ΔA/H premium=-1.2ppt).</li>
<li>We highlight A/H premium changes of stocks: GWM, CCCC, Cansino, China Oilfield, Air China.</li>
</ul>


We analyse the changes of A/H premium on 136 stocks over the last week.
The sector with the biggest A/H premium increase was Information Technology (ΔA/H premium=8.4ppt) while the sector with the biggest A/H premium decrease was Communication Services (ΔA/H premium=-1.2ppt).
We highlight A/H premium changes of stocks: GWM, CCCC, Cansino, China Oilfield, Air China.


A/H Premium Weekly: Great Wall Motor, CCCC, Cansino, China Oilfield, Air China

<ul>
<li>We analyse the changes of A/H premium on 135 stocks over the last week.</li>
<li>Industrial, Energy and Communication Services were the top three sectors contributing to the A/H premium declines. </li>
<li>Yet 4 names are at 52 week high of A/H premium: Air China Ltd, Guangshen Railway, Shenzhen HepaLink, Beijing North Star.</li>
</ul>


We analyse the changes of A/H premium on 135 stocks over the last week.
Industrial, Energy and Communication Services were the top three sectors contributing to the A/H premium declines. 
Yet 4 names are at 52 week high of A/H premium: Air China Ltd, Guangshen Railway, Shenzhen HepaLink, Beijing North Star.


A/H Premium Weekly: Biggest A/H Premium Declines in a Year

Global Special Situations & Strategy, SR Services Ltd

David Lepper

Global Special Situations & Strategy

SR Services Ltd

SR Services provides Strategic Knowledge and Solutions services for Family Offices and Corporate Business. 

We deliver this via advisory services, strategic planning, opportunity analysis/sourcing, as well as solution implementation. 

Whilst, we create intellectual discipline and operational leverage for your projects or daily activities, our ultimate objective is to empower whilst enhancing your decision making. 

Strategic Knowledge and Solutions

Cross Asset Strategy

<ul>
<li>
Our Q3-2021 All Cap High-Risk screen of stocks produced a market-cap-weighted average price return of 2% and a simple average decline of 0.2%.</li>
<li>
Out of the 34 stocks that appeared in our Q3-2021 screen, 15 stocks saw an average share price decline of 11.5%, whilst 19 stocks appreciated on average by 14%. The two biggest declining stock  were down 25% and 19% respectively.</li>
<li>Our Q4 2021 screen, with 38 names (up from 34 seen in Q3 and Q2 2021) delivers an interesting composition this quarter, </li>
<li>
As in the previous few quarters, we anticipate the possibility of a risk of deteriorating credit metrics during the next few quarters: Q4 2021’s Altman Z score rests at 1.23, which is just up on Q3 2021’s level of 1.19.</li>
</ul>



Our Q3-2021 All Cap High-Risk screen of stocks produced a market-cap-weighted average price return of 2% and a simple average decline of 0.2%.

Out of the 34 stocks that appeared in our Q3-2021 screen, 15 stocks saw an average share price decline of 11.5%, whilst 19 stocks appreciated on average by 14%. The two biggest declining stock  were down 25% and 19% respectively.
Our Q4 2021 screen, with 38 names (up from 34 seen in Q3 and Q2 2021) delivers an interesting composition this quarter, 

As in the previous few quarters, we anticipate the possibility of a risk of deteriorating credit metrics during the next few quarters: Q4 2021’s Altman Z score rests at 1.23, which is just up on Q3 2021’s level of 1.19.


Screening the Silk Road: Q4 2021 High-Risk Names to Avoid

China

China Oilfield Services Limited provides oilfield services. The Company provides geophysical prospecting, drilling, oilfield technology development, and other services. China Oilfield Services also operates transportation businesses.

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China Oilfield Services H (2883 HK)

A-H Premium Weekly: China Southern, Shanghai Junshi, Shanghai Haohai, Shanghai Fudan

A-H premium declined by 5.7ppt last week, real estate, consumer discretionary and information technology led the decline. We highlight China...

Ke Yan, CFA, FRM

A-H Premium Weekly: Shanghai Pharma, China Eastern Air, Huaneng Power, Shenzhen Hepalink

We highlight utilities, consumer staple, comm servcies, and consumer discretionary sector and the following A-H stocks: Shanghai Pharma, China...

Ke Yan, CFA, FRM

A/H Premium Weekly: Great Wall Motor, CCCC, Cansino, China Oilfield, Air China

We highlight week on week A/H premium at 52w high for Great Wall Motor, CCCC, , and week on week changes of Cansino, China Oilfield, Air China.

Ke Yan, CFA, FRM

A/H Premium Weekly: Biggest A/H Premium Declines in a Year

The market average A/H premium registered the biggest declines in the past one year. We highlight top sectors by the decline of A/H premium, as...

Ke Yan, CFA, FRM

Screening the Silk Road: Q4 2021 High-Risk Names to Avoid

As we move through into Q1 2022, we expect to see volatility around highly priced & leveraged names. This screen is a key starting point towards...

David Lepper

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