External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<ul><li>China IaaS + PaaS market grew 30.7% YoY in 1H22, according to IDC data.</li><li>However, this may have slowed to 10-20% YoY in 3Q22, reflected by China Telecom/ China Mobile sluggish cloud revenue growth. </li><li>China cloud spending in 2023E could remain conservative with structural changes</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China IaaS + PaaS market grew 30.7% YoY in 1H22, according to IDC data.However, this may have slowed to 10-20% YoY in 3Q22, reflected by China Telecom/ China Mobile sluggish cloud revenue growth. China cloud spending in 2023E could remain conservative with structural changesContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Software & IT Services – China IaaS + PaaS growth slowed further in 3Q22

<div><ul><li>Structural changes in China cloud market. There are three structural changes in China cloud market since the internet sector crackdown in 2021.</li><li>China cloud development roadmap is different compared to the US</li><li>Cloud supply chain turmoil amid rising geopolitical tension.</li></ul></div>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Structural changes in China cloud market. There are three structural changes in China cloud market since the internet sector crackdown in 2021.China cloud development roadmap is different compared to the USCloud supply chain turmoil amid rising geopolitical tension.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Software & IT Services – A mixed outlook for China cloud amid rising China-US tension

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 statistics on top repurchases over one week, one month, one quarter and one year periods ended on Apr 15th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Aia (1299 HK), Xiaomi (1810 HK).</li>
<li>In addition, we note that China Soft International started buyback activity last week. </li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Apr 15th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Aia (1299 HK), Xiaomi (1810 HK).
In addition, we note that China Soft International started buyback activity last week. 


Hong Kong Buybacks: Tencent, AIA, and Xiaomi

Hong Kong SFC reported aggregate short position as of Oct 15. The aggregate short value for equities increased by $1,464m (+2.2%) WoW and increased by $2,211m (+3.3%) over the preceding four weeks. Most shorted stocks by aggregate short value of positions are Ping An Insurance (Group) Company Of China, Ltd./2318 HK($3,456m, -0.6% WoW), Meituan/3690 HK($2,234m, +10.8% WoW), Tencent Holdings Limited/700 HK($2,202m, +6.2% WoW), Zhongsheng Group Holdings Limited/881 HK($2,073m, +16.4% WoW), China Merchants Bank Co., Ltd./3968 HK($1,820m, +4.3% WoW).

Hong Kong SFC reported aggregate short position as of Oct 15. The aggregate short value for equities increased by $1,464m (+2.2%) WoW and increased by $2,211m (+3.3%) over the preceding four weeks.  Most shorted stocks by aggregate short value of positions are Ping An Insurance (Group) Company Of China, Ltd./2318 HK($3,456m, -0.6% WoW), Meituan/3690 HK($2,234m, +10.8% WoW), Tencent Holdings Limited/700 HK($2,202m, +6.2% WoW), Zhongsheng Group Holdings Limited/881 HK($2,073m, +16.4% WoW), China Merchants Bank Co., Ltd./3968 HK($1,820m, +4.3% WoW).

HK Short Interest: Alibaba, China Soft Intl

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

Chinasoft International / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/chinasoft-international-ltd" target="_blank" data-smartkarma-citation="entities:407:1" rel="noopener">Chinasoft International (354 HK)</a> is looking to raise US$256m in its placement to mainly fund R&amp;D.In this note, we will take a brief look at Chinasoft’s business and fundamentals and run the deal through our ECM framework.

Chinasoft International (354 HK) is looking to raise US$256m in its placement to mainly fund R&amp;D.In this note, we will take a brief look at Chinasoft’s business and fundamentals and run the deal through our ECM framework.

Chinasoft Placement - Small Deal and Proceeds Will Be Put to Good Use

China

Chinasoft International Limited develops and provides solutions in China to government authorities and its IT (Information Technology) service providers. The Company also provides IT consulting and training services, IT outsourcing services and standalone software products.

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Chinasoft International (354 HK)

China Software & IT Services – China IaaS + PaaS growth slowed further in 3Q22

China IaaS + PaaS market grew 30.7% YoY in 1H22, according to IDC data. However, this may have slowed to 10-20% YoY in 3Q22, reflected by China...

CMB International

China Software & IT Services – A mixed outlook for China cloud amid rising China-US tension

Structural changes in China cloud market. There are three structural changes in China cloud market since the internet sector crackdown in 2021.

CMB International

Hong Kong Buybacks: Tencent, AIA, and Xiaomi

We highlight the top 3 companies that repurchased the most shares from the Hong Kong market were Tencent (700 HK), Aia (1299 HK), Xiaomi (1810 HK).

Ke Yan, CFA, FRM

HK Short Interest: Alibaba, China Soft Intl

We highlight week-on-week short interest increase in Alibaba (9988 HK) and short interest decline in China Soft Intl (354 HK) based on the latest...

Ke Yan, CFA, FRM

Chinasoft Placement - Small Deal and Proceeds Will Be Put to Good Use

Chinasoft International (354 HK) is looking to raise US$256m in its placement to mainly fund R&D. In this note, we will take a look at its business...

Sumeet Singh

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52-week Range

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