Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

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News from Caixin

Cross Asset Strategy

<ul><li>Stocks / Cover Story: China’s three-year stock slump resists policy prescriptions for rebound </li><li><p>Leverage /: China’s debt-to-GDP ratio climbs to record 287.8% in 2023</p></li><li><p>Personnel /: China’s statistics, forex and energy agencies get new deputies</p></li></ul>

Stocks / Cover Story: China’s three-year stock slump resists policy prescriptions for rebound Leverage /: China’s debt-to-GDP ratio climbs to record 287.8% in 2023Personnel /: China’s statistics, forex and energy agencies get new deputies

CX Daily: China’s Three-Year Stock Slump Resists Policy Prescriptions for Rebound 

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.</li>
<li>Last week saw NORTHBOUND net BUY RMB 12.1bn of A-shares on very strong average activity. National Team continued to buy this week. Foreigners bought banks</li>
<li>Renewables were again a net sell by NORTHBOUND. It is not clear what stops persistent net selling. Capacity huge/growing and Pricing is a disaster in solar modules, batteries, etc. </li>
</ul>


The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.
Last week saw NORTHBOUND net BUY RMB 12.1bn of A-shares on very strong average activity. National Team continued to buy this week. Foreigners bought banks
Renewables were again a net sell by NORTHBOUND. It is not clear what stops persistent net selling. Capacity huge/growing and Pricing is a disaster in solar modules, batteries, etc. 


Mainland Connect NORTHBOUND Flows (To 26 Jan 2024): Decent Net Buying, Buying Banks and SOEs

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>300274 SZ: Sungrow preannounced full-year profit to exceed expectations (+)</li>
<li>LI/NIO/XPEV: Li Auto's deliveries rose in the third week of January, ranking first among new forces, but still lower than expected (-)</li>
<li>BEKE: Chongqing raised the levy standard of property tax (+)</li>
</ul>


300274 SZ: Sungrow preannounced full-year profit to exceed expectations (+)
LI/NIO/XPEV: Li Auto's deliveries rose in the third week of January, ranking first among new forces, but still lower than expected (-)
BEKE: Chongqing raised the levy standard of property tax (+)


[Blue Lotus Daily]: ATAT/HTHT/TCOM/300750CH/1211HK/835185CH/ 600516CH/LI/NIO/XPEV/BEKE/ZTO

<ul>
<li>LKNCY: Luckin Coffee will launch Moutai flavored chocolate milk on next Monday, purposing at destocking(+)</li>
<li>MNSO: Takeaways from Miniso Investor Day, “IP” is the key term(+)</li>
<li>300750 CH: CATL's Shenxing Long Life took marke share from SVOLT to win NETA L series of Hozon(+)</li>
</ul>


LKNCY: Luckin Coffee will launch Moutai flavored chocolate milk on next Monday, purposing at destocking(+)
MNSO: Takeaways from Miniso Investor Day, “IP” is the key term(+)
300750 CH: CATL's Shenxing Long Life took marke share from SVOLT to win NETA L series of Hozon(+)


[Blue Lotus Daily]: LKNCY/MNSO/300750 CH/1211 HK

<ul>
<li>The New and Better (5mos old) A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc.</li>
<li>SOUTHBOUND flows were net negative (ETFs negative, high-div SOEs positive) and NORTHBOUND flows a small net sell. AH premia rose slightly on average. Especially at narrow premia.</li>
<li>STILL time to go long Hs vs As for the new year. 52wk wide discounts were just four weeks ago. Wide A/H premia in renewables space look vulnerable.</li>
</ul>


The New and Better (5mos old) A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc.
SOUTHBOUND flows were net negative (ETFs negative, high-div SOEs positive) and NORTHBOUND flows a small net sell. AH premia rose slightly on average. Especially at narrow premia.
STILL time to go long Hs vs As for the new year. 52wk wide discounts were just four weeks ago. Wide A/H premia in renewables space look vulnerable.


A/H Premium Tracker (To 12 Jan 2024):  STAY Long Hs Vs As: Premia Still Wide, Huge High-Div SOE Perf

China

Contemporary Amperex Technology Co., Limited. operates as a battery products manufacturing company. The Company produces and sells power battery materials, energy storage batteries energy storage battery cells, systems, and other products. Contemporary Amperex Technology also provides batteries recycling services.

Contemporary Amperex Technology (CATL) (300750 CH)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Contemporary Amperex Technology (CATL) (300750 CH)

CX Daily: China’s Three-Year Stock Slump Resists Policy Prescriptions for Rebound

Stocks / Cover Story: China’s three-year stock slump resists policy prescriptions for rebound Chinese investors began 2023 full of optimism that...

Caixin Global

Mainland Connect NORTHBOUND Flows (To 26 Jan 2024): Decent Net Buying, Buying Banks and SOEs

NORTHBOUND Connect this week saw heavy gross activity and decent net buying. Lots of buying in Banks and SOEs, selling in Petrochina as National...

Travis Lundy

[Blue Lotus Daily]: ATAT/HTHT/TCOM/300750CH/1211HK/835185CH/ 600516CH/LI/NIO/XPEV/BEKE/ZTO

Sungrow's full-year profit exceeds expectations; Li Auto's deliveries improve but fall short; Chongqing raises property tax levy standard.

Blue Lotus Research Institute

[Blue Lotus Daily]: LKNCY/MNSO/300750 CH/1211 HK

Luckin Coffee will release Moutai flavored chocolate milk to reduce stock; Miniso emphasizes the importance of "IP" at Investor Day; CATL's...

Blue Lotus Research Institute

A/H Premium Tracker (To 12 Jan 2024): STAY Long Hs Vs As: Premia Still Wide, Huge High-Div SOE Perf

Hs vs As saw A premia widen at the narrow premia category, and generally narrow in all spreads where A is more than 120% of H. On average, H -11bp...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

CX Daily: China’s Three-Year Stock Slump Resists Policy Prescriptions for Rebound

Stocks / Cover Story: China’s three-year stock slump resists policy prescriptions for rebound Chinese investors began 2023 full of optimism that...

Caixin Global

Mainland Connect NORTHBOUND Flows (To 26 Jan 2024): Decent Net Buying, Buying Banks and SOEs

NORTHBOUND Connect this week saw heavy gross activity and decent net buying. Lots of buying in Banks and SOEs, selling in Petrochina as National...

Travis Lundy

[Blue Lotus Daily]: ATAT/HTHT/TCOM/300750CH/1211HK/835185CH/ 600516CH/LI/NIO/XPEV/BEKE/ZTO

​Sungrow's full-year profit exceeds expectations; Li Auto's deliveries improve but fall short; Chongqing raises property tax levy standard.

Blue Lotus Research Institute

[Blue Lotus Daily]: LKNCY/MNSO/300750 CH/1211 HK

​Luckin Coffee will release Moutai flavored chocolate milk to reduce stock; Miniso emphasizes the importance of "IP" at Investor Day; CATL's...

Blue Lotus Research Institute

A/H Premium Tracker (To 12 Jan 2024): STAY Long Hs Vs As: Premia Still Wide, Huge High-Div SOE Perf

Hs vs As saw A premia widen at the narrow premia category, and generally narrow in all spreads where A is more than 120% of H. On average, H -11bp...

Travis Lundy

Sungrow's full-year profit exceeds expectations; Li Auto's deliveries improve but fall short; Chongqing raises property tax levy standard.

Luckin Coffee will release Moutai flavored chocolate milk to reduce stock; Miniso emphasizes the importance of "IP" at Investor Day; CATL's...