Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

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.

Equity Bottom-Up

Alibaba Group Holding  / Equity Bottom-Up

<ul>
<li>Great Wall Motor’s revenue increased by 26%, but its profit increased by less than 5% in 2023.</li>
<li>Huawei’s shipments increased 36% YoY in 4Q23 and was the only company to witness an increase among the top five sellers.</li>
<li>Jack Ma, the founder, and Mr. Joe Tsai, the chairman, purchased Alibaba’s shares.</li>
</ul>


Great Wall Motor’s revenue increased by 26%, but its profit increased by less than 5% in 2023.
Huawei’s shipments increased 36% YoY in 4Q23 and was the only company to witness an increase among the top five sellers.
Jack Ma, the founder, and Mr. Joe Tsai, the chairman, purchased Alibaba’s shares.


China Consumption Weekly (29 Jan 2024): Great Wall Motor, Huawei, Alibaba, Mixue, Nayuki

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 128.5% as of Jan 26th.</li>
<li>The average A-H premium changed by -0.6ppt week-on-week, led by energy, industrials, health care and offset by real estate, communication services, information technology.</li>
<li>We highlight weekly changes in A-H premium for Haier Smart Home, China Tourism, Conch Cement, Tsingtao Brew, Gwmotor, China Energy Engineering, Tianqi Lithium Corporation.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 128.5% as of Jan 26th.
The average A-H premium changed by -0.6ppt week-on-week, led by energy, industrials, health care and offset by real estate, communication services, information technology.
We highlight weekly changes in A-H premium for Haier Smart Home, China Tourism, Conch Cement, Tsingtao Brew, Gwmotor, China Energy Engineering, Tianqi Lithium Corporation.


A-H Premium Weekly (Jan 26th): Haier Smart, China Tourism, Conch Cement, Tsingtao Brew, GWM

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jan 26th 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 Xiaomi (1810 HK), Meituan (3690 HK), AIA (1299 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Meituan (3690 HK), AIA (1299 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jan 26th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Xiaomi (1810 HK), Meituan (3690 HK), AIA (1299 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Meituan (3690 HK), AIA (1299 HK).


Hong Kong Buybacks Weekly (Jan 26th): Xiaomi, Meituan, Aia

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jan 19th 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), Meituan (3690 HK), AIA (1299 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Meituan (3690 HK), AIA (1299 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jan 19th 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), Meituan (3690 HK), AIA (1299 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Meituan (3690 HK), AIA (1299 HK).


Hong Kong Buybacks Weekly (Jan 19th): Tencent, Meituan, Aia

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jan 12th 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), Meituan (3690 HK), AIA (1299 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Meituan (3690 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jan 12th 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), Meituan (3690 HK), AIA (1299 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Meituan (3690 HK).


Hong Kong Buybacks Weekly (Jan 12th): Tencent, Meituan, Aia

China

Great Wall Motor Company Limited, through its subsidiaries, manufactures and sells pick-up trucks and sport-utility vehicles (SUVs) in China under branded names. The Company also researches and manufactures principal automotive parts and components for use in the assembly of pick-up trucks and SUVs. Great Wall Motor conducts business in China, USA, Japan, Canada, Korea, and other regions.

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

Great Wall Motor (601633 CH)

China Consumption Weekly (29 Jan 2024): Great Wall Motor, Huawei, Alibaba, Mixue, Nayuki

Great Wall Motor’s revenue increased by 26%, but its profit increased by less than 5% in 2023. Huawei shipment increased by 36% YoY in 4Q23. The...

Ming Lu

A-H Premium Weekly (Jan 26th): Haier Smart, China Tourism, Conch Cement, Tsingtao Brew, GWM

We highlight weekly changes in A-H premium for Haier Smart Home, China Tourism, Conch Cement, Tsingtao Brew, Gwmotor, China Energy Engineering,...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Jan 26th): Xiaomi, Meituan, Aia

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Xiaomi (1810 HK),...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Jan 19th): Tencent, Meituan, Aia

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Jan 12th): Tencent, Meituan, Aia

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)