Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

iShares MSCI ACWI ETF / Technical Analysis

<ul>
<li>Many indexes (ACWI-US,ACWX-US,etc.) are near support, and we could see a bear market bounce, but until these indexes reverse their downtrends and break above resistance levels, we cannot be bullish.</li>
<li>On a positive note, we are starting to see signs that inflation is peaking, as commodity prices have pulled back substantially, and the Energy/Materials Sectors are under significant pressure.</li>
<li>If inflation and commodity prices have indeed peaked, global equities are likely in the early stages of a bottoming process.</li>
</ul>


Many indexes (ACWI-US,ACWX-US,etc.) are near support, and we could see a bear market bounce, but until these indexes reverse their downtrends and break above resistance levels, we cannot be bullish.
On a positive note, we are starting to see signs that inflation is peaking, as commodity prices have pulled back substantially, and the Energy/Materials Sectors are under significant pressure.
If inflation and commodity prices have indeed peaked, global equities are likely in the early stages of a bottoming process.


Inflation Peaking?; ACWI, ACWI Ex-US Near Support; Many Bottoms-Up Stock Recommendations

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

Guangzhou Baiyunshan Pharmaceutical Holdings / Equity Bottom-Up

Guangzhou Baiyunshan Pharmaceutical Holdings

<ul>
<li>
<a href="https://www.smartkarma.com/entities/guangzhou-baiyunshan-pharmaceutical-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:276:1" rel="noopener">Guangzhou Baiyunshan Pharmaceutical Holdings (874 HK)</a>, mainly relying on Wang Lao Ji and Jin Ge for performance contribution, is relatively weak in risk resistance compared with other biopharmaceutical companies.</li>
<li>With the promotion of medical reform policies such as VBP, Baiyunshan’s weaknesses of R&amp;D and innovation that support the business transition would be more prominent.</li>
<li>Baiyunshan may lack the core competitiveness for future development. Therefore, we are conservative about its outlook, but investors could still trade this stock when the whole TCM sector moves up.</li>
</ul>



Guangzhou Baiyunshan Pharmaceutical Holdings (874 HK), mainly relying on Wang Lao Ji and Jin Ge for performance contribution, is relatively weak in risk resistance compared with other biopharmaceutical companies.
With the promotion of medical reform policies such as VBP, Baiyunshan’s weaknesses of R&amp;D and innovation that support the business transition would be more prominent.
Baiyunshan may lack the core competitiveness for future development. Therefore, we are conservative about its outlook, but investors could still trade this stock when the whole TCM sector moves up.


Guangzhou Baiyunshan Pharmaceutical Holdings (874.HK) - Conservative About the Outlook

Equity Capital Markets

HTDK Medical Holdings / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/htdk-medical-holdings-limited" target="_blank" data-smartkarma-citation="entities:34111:1" rel="noopener">HTDK Medical Holdings</a> is a leading cross-border commercial solutions platform in China offering specialized market entrance and penetration solutions for high-value medical devices, with particular strength in serving global brands.</li>
<li>This insights mainly analyzed the industry characteristics, the business and the concerns of the Company.</li>
<li>For HTDK, policy risk is the biggest risk. So, how to make breakthrough is a problem HTDK has to solve. </li>
</ul>



HTDK Medical Holdings is a leading cross-border commercial solutions platform in China offering specialized market entrance and penetration solutions for high-value medical devices, with particular strength in serving global brands.
This insights mainly analyzed the industry characteristics, the business and the concerns of the Company.
For HTDK, policy risk is the biggest risk. So, how to make breakthrough is a problem HTDK has to solve. 


Pre-IPO HTDK Medical Holdings - Policy Risk Is the Biggest Uncertainty

Guangzhou Pharmaceuticals Co Ltd / Equity Capital Markets

On March 31, 2021, <a href="https://www.smartkarma.com/entities/guangzhou-pharmaceuticals-co-ltd" target="_blank" data-smartkarma-citation="entities:33005:1" rel="noopener">Guangzhou Pharmaceuticals Co Ltd (GPC HK)</a> submitted a prospectus to the Hong Kong Stock Exchange, which means that Guangzhou Pharmaceuticals, the fifth largest pharmaceutical distributor nationwide and the largest pharmaceutical distributor in South China, would be listed in Hong Kong in the near future. It is also worth mentioning that, as the Company submitted the IPO application, the risk points of the Company also gradually emerged considering the current competition pattern, new policies and its business performance.

On March 31, 2021, Guangzhou Pharmaceuticals Co Ltd (GPC HK) submitted a prospectus to the Hong Kong Stock Exchange, which means that Guangzhou Pharmaceuticals, the fifth largest pharmaceutical distributor nationwide and the largest pharmaceutical distributor in South China, would be listed in Hong Kong in the near future. It is also worth mentioning that, as the Company submitted the IPO application, the risk points of the Company also gradually emerged considering the current competition pattern, new policies and its business performance.

Pre-IPO Guangzhou Pharmaceuticals - The Risk Points Gradually Emerged

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

Growth as a style has been the “norm” for years, is the “norm” about to end? The continued strategies by Central Bank’s towards a “lower for longer stance around interest rates”, extended the underperformance of value for most of 2020. However, with the value/growth investment style ratio at 20-year lows, we present 27 names which hold characteristics worthy of further review.

Growth as a style has been the “norm” for years, is the “norm” about to end? The continued strategies by Central Bank’s towards a “lower for longer stance around interest rates”, extended the underperformance of value for most of 2020. However, with the value/growth investment style ratio at 20-year lows, we present 27 names which hold characteristics worthy of further review. 

Screening the Silk Road: Q1 2021 All Cap Screening - Free Cashflow (FCF)

China

China Resources Pharmaceutical Group Ltd. operates as a pharmaceutical company. The Company researches and develops, manufactures, and distributes pharmaceuticals. China Resources Pharmaceutical Group provides products and services involving chemicals, biologics, health products, medical appliances, and others. 

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China Resources Pharmaceutical (3320 HK)

Inflation Peaking?; ACWI, ACWI Ex-US Near Support; Many Bottoms-Up Stock Recommendations

We're starting to see signs that inflation is peaking, as commodity prices have pulled back substantially or are breaking, and the Energy $XLE and...

Vermilion Research

Guangzhou Baiyunshan Pharmaceutical Holdings (874.HK) - Conservative About the Outlook

This insight analyzed Baiyunshan’s 2021Q3 performance, the core business segments, the comparison with peers, the concerns on business transition,...

Xinyao (Criss) Wang

Pre-IPO HTDK Medical Holdings - Policy Risk Is the Biggest Uncertainty

The article mainly analyzed HTDK Medical Holdings in terms of the industry characteristics, the potential policy risk, the business, the financial...

Xinyao (Criss) Wang

Pre-IPO Guangzhou Pharmaceuticals - The Risk Points Gradually Emerged

As Guangzhou Pharmaceuticals submitted the IPO application, the risk points emerged considering the competition pattern, new policies and business...

Xinyao (Criss) Wang

Screening the Silk Road: Q1 2021 All Cap Screening - Free Cashflow (FCF)

With the value/growth investment style ratio at 20-year lows, we present 27 names which hold characteristics worthy of further review.

David Lepper

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52-week Range

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