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

Shenzhen Stock Exchange Composite Index / Technical Analysis

<p>China (MSCI China, Shenzhen A Share) offers a plethora of attractive setups and is a major focus in today’s report. Taiwan (TAIEX) is another focus as it is one of the few global indexes that is not yet breaking down. Lastly, Turkey (ISE National 100) appears to offer an attractive pullback opportunity. Within EM, we highlight attractive opportunities across the technology, consumer discretionary, health care and communications sectors.</p>

China (MSCI China, Shenzhen A Share) offers a plethora of attractive setups and is a major focus in today’s report. Taiwan (TAIEX) is another focus as it is one of the few global indexes that is not yet breaking down. Lastly, Turkey (ISE National 100) appears to offer an attractive pullback opportunity. Within EM, we highlight attractive opportunities across the technology, consumer discretionary, health care and communications sectors.

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Powerlong Commercial Management Holdings / Equity Capital Markets

<div><p><a href="https://www.smartkarma.com/entities/powerlong-commercial-management-holdings" target="_blank" data-smartkarma-citation="entities:28672:1" rel="noopener">Powerlong Commercial Management Holdings (1741045D HK)</a> is a leading commercial operational service provider in China. Powerlong will commence trading on Monday, 30 December. Powerlong priced its IPO at HK$9.50 per share (near the top-end of the range). </p></div><div><div><div class="content-highlight"><p>In <a href="https://www.smartkarma.com/insights/powerlong-commercial-mgmt-ipo-valuation-on-solid-grounds" target="_blank" rel="noopener">our valuation note</a>, we noted that the IPO price range is attractive and we would participate in the IPO. Our DCF analysis supports this view and our DCF-based scenario analysis suggests that the IPO price is undemanding.</p></div></div></div>

Powerlong Commercial Management Holdings (1741045D HK) is a leading commercial operational service provider in China. Powerlong will commence trading on Monday, 30 December. Powerlong priced its IPO at HK$9.50 per share (near the top-end of the range). In our valuation note, we noted that the IPO price range is attractive and we would participate in the IPO. Our DCF analysis supports this view and our DCF-based scenario analysis suggests that the IPO price is undemanding.

Powerlong Commercial Mgmt: Trading Debut, Valuation Scenario Analysis

Poly Property Services   / Equity Capital Markets

<div><p><a href="https://www.smartkarma.com/entities/poly-property-development" target="_blank" data-smartkarma-citation="entities:28261:1" rel="noopener">Poly Property Development (6049 HK)</a> (PPD) is a Chinese property management company. Pharmaron will commence trading on Thursday, 19 December. PPD priced its IPO at HK$35.10 per share (at the top-end of the range). </p></div><div><div><div class="content-highlight"><p>In <a href="https://www.smartkarma.com/insights/poly-property-development-ipo-valuation-alluring" target="_blank" rel="noopener">our valuation note</a>, we noted that the IPO price range is attractive and we would participate in the IPO. Our DCF analysis supports this view and our DCF-based scenario analysis suggests that the IPO price is undemanding.</p></div></div></div>

Poly Property Development (6049 HK) (PPD) is a Chinese property management company. Pharmaron will commence trading on Thursday, 19 December. PPD priced its IPO at HK$35.10 per share (at the top-end of the range). In our valuation note, we noted that the IPO price range is attractive and we would participate in the IPO. Our DCF analysis supports this view and our DCF-based scenario analysis suggests that the IPO price is undemanding.

Poly Property Development: Trading Debut, Valuation Scenario Analysis

<p><a href="https://www.smartkarma.com/entities/powerlong-commercial-management-holdings" target="_blank" data-smartkarma-citation="entities:28672:1" rel="noopener">Powerlong Commercial Management Holdings (1741045D HK)</a> is a leading commercial operational service provider in China. Powerlong has launched its IPO at an indicative price range of HK$7.50-10.00 per share. Powerlong will raise net proceeds of HK$1,223.5 million ($157 million) at the mid-point of the IPO price range. </p><div class="content-highlight"><p>In <a href="https://www.smartkarma.com/insights/powerlong-commercial-mgmt-ipo-initiation-hard-bargains" target="_blank" rel="noopener">our initiation note</a>, we stated that Powerlong’s fundamentals offer more positives than negatives and could prove attractive at the right valuation. Our valuation analysis suggests that the IPO price range is attractive and we would participate in the IPO.</p></div>

Powerlong Commercial Management Holdings (1741045D HK) is a leading commercial operational service provider in China. Powerlong has launched its IPO at an indicative price range of HK$7.50-10.00 per share. Powerlong will raise net proceeds of HK$1,223.5 million ($157 million) at the mid-point of the IPO price range. In our initiation note, we stated that Powerlong’s fundamentals offer more positives than negatives and could prove attractive at the right valuation. Our valuation analysis suggests that the IPO price range is attractive and we would participate in the IPO.

Powerlong Commercial Mgmt IPO:  Valuation on Solid Grounds

<p><a href="https://www.smartkarma.com/entities/powerlong-commercial-management-holdings" target="_blank" data-smartkarma-citation="entities:28672:1" rel="noopener">Powerlong Commercial Management Holdings (1741045D HK)</a> is a leading commercial operational service provider in China. It will soon launch a Hong Kong IPO to raise up to $200 million according to press reports. </p><div class="content-highlight"><p>Powerlong aims to differentiate versus another IPO hopeful, <a href="https://www.smartkarma.com/entities/poly-property-development-h" target="_blank" data-smartkarma-citation="entities:28261:1" rel="noopener">Poly Property Development (6049 HK)</a>, through a focus on commercial properties. Overall, we believe that Powerlong’s fundamentals offer more positives than negatives and could prove attractive at the right valuation.</p></div>

Powerlong Commercial Management Holdings (1741045D HK) is a leading commercial operational service provider in China. It will soon launch a Hong Kong IPO to raise up to $200 million according to press reports. Powerlong aims to differentiate versus another IPO hopeful, Poly Property Development (6049 HK), through a focus on commercial properties. Overall, we believe that Powerlong’s fundamentals offer more positives than negatives and could prove attractive at the right valuation.

Powerlong Commercial Mgmt IPO Initiation: Hard Bargains

China

Greentown Service Group Co. Ltd. is a property management service provider. The Company provides property management services for high-end residential property, property consulting services, and community value-added services.

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Greentown Service Group (2869 HK)

EM Outperforming; Favor EM over EAFE

China (MSCI China, Shenzhen A Share) offers a plethora of attractive setups and is a major focus in today’s report. Taiwan (TAIEX) is another focus...

Vermilion Research

Powerlong Commercial Mgmt: Trading Debut, Valuation Scenario Analysis

Powerlong Commercial Management Holdings (1741045D HK) is a leading commercial operational service provider in China. Powerlong will commence...

Arun George

Poly Property Development: Trading Debut, Valuation Scenario Analysis

Poly Property Development (6049 HK) (PPD) is a Chinese property management company. Pharmaron will commence trading on Thursday, 19 December. PPD...

Arun George

Powerlong Commercial Mgmt IPO: Valuation on Solid Grounds

Powerlong Commercial Management Holdings (1741045D HK) is a leading commercial operational service provider in China. Powerlong has launched its...

Arun George

Powerlong Commercial Mgmt IPO Initiation: Hard Bargains

Powerlong Commercial Management Holdings (1741045D HK) is a leading commercial operational service provider in China. It will soon launch a Hong...

Arun George

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