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 analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 112.5% as of Apr 14th.</li>
<li>The average A-H premium changed by -4.9ppt week on week, led by consumer discretionary, health care, financials.</li>
<li>We highlight weekly changes in A-H premium for Remegen, CREC, Yankuang Energy, CRRC, GWM, CICC.</li>
</ul>


We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 112.5% as of Apr 14th.
The average A-H premium changed by -4.9ppt week on week, led by consumer discretionary, health care, financials.
We highlight weekly changes in A-H premium for Remegen, CREC, Yankuang Energy, CRRC, GWM, CICC.


A-H Premium Weekly (Apr 14th): Remegen, CREC, Yankuang Energy, CRRC, GWM, CICC

China Specialist, Auto and Industrial Specialist

Victoria Li

Thematic (Sector/Industry)

<ul>
<li>Dongfeng announced 12%-35% subsidy on its retail price to reverse weak sales which has seen most of its factories suspending production</li>
<li>This has triggered a price war with more than 30 brands joining with similar ranges of price discounts/subsidies, most of which are JV brands - some upto 50%</li>
<li>We see a possibility that some of the JV brands exit China this year</li>
</ul>


Dongfeng announced 12%-35% subsidy on its retail price to reverse weak sales which has seen most of its factories suspending production
This has triggered a price war with more than 30 brands joining with similar ranges of price discounts/subsidies, most of which are JV brands - some upto 50%
We see a possibility that some of the JV brands exit China this year


China Auto: ICE Price War Triggered by Dongfeng, JV Players Under Pressure

<ul>
<li>We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 111.9% as of Mar 3rd.</li>
<li>The average A-H premium changed by 0.3ppt week on week, led by communication services, consumer discretionary, financials and offset by real estate, information technology, industrials.</li>
<li>We highlight weekly changes in A-H premium for Xinjiang Goldwind, ZTE, China Southern, CRRC, GWM, China Telecom, CCCC, China Oilfield.</li>
</ul>


We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 111.9% as of Mar 3rd.
The average A-H premium changed by 0.3ppt week on week, led by communication services, consumer discretionary, financials and offset by real estate, information technology, industrials.
We highlight weekly changes in A-H premium for Xinjiang Goldwind, ZTE, China Southern, CRRC, GWM, China Telecom, CCCC, China Oilfield.


A-H Premium Weekly (Mar 3rd): Xinjiang Goldwind, ZTE, China Southern, CRRC, GWM, China Telecom

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Equity Bottom-Up

Guangzhou Automobile Group / Equity Bottom-Up

<ul><li>Guangzhou Automobile Group Co. Ltd. (GAC) (<a href="https://www.caixinglobal.com/2023-02-21/601238.SH" target="_blank" rel="noopener">601238.SH</a> -0.51%) is working to get more domestically produced microchips into its vehicles.</li><li>It relies on overseas suppliers for about 90% of its automotive chips.</li><li>GAC Capital Co. Ltd. sees plenty of opportunity to increase the share of domestic chips in the automaker’s cars.</li></ul>

Guangzhou Automobile Group Co. Ltd. (GAC) (601238.SH -0.51%) is working to get more domestically produced microchips into its vehicles.It relies on overseas suppliers for about 90% of its automotive chips.GAC Capital Co. Ltd. sees plenty of opportunity to increase the share of domestic chips in the automaker’s cars.

Automaker GAC Seeks China-Made Chips to Ease Dependence on Foreign Suppliers

Cross Asset Strategy

<ul><li>China-Malaysia /: Q&amp;A: Malaysia’s new trade minister explains why China matters to Southeast Asia</li><li>Security /: China spells out ‘Global Security Initiative’ for international conflict settlement</li><li>ChatGPT /: Chinese educators should embrace ChatGPT as part of reform, experts say</li></ul>

China-Malaysia /: Q&amp;A: Malaysia’s new trade minister explains why China matters to Southeast AsiaSecurity /: China spells out ‘Global Security Initiative’ for international conflict settlementChatGPT /: Chinese educators should embrace ChatGPT as part of reform, experts say

CX Daily: Malaysia’s New Trade Minister Explains Why China Matters to Southeast Asia

China

Guangzhou Automobile Group Company, Ltd. manufactures, sells, and services automobiles. The Company is also involved in automobile parts and components, and auto finance and related services for both overseas and domestic markets.

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Guangzhou Automobile Group (2238 HK)

A-H Premium Weekly (Apr 14th): Remegen, CREC, Yankuang Energy, CRRC, GWM, CICC

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Remegen, CREC, Yankuang Energy, CRRC, GWM, CICC.

Ke Yan, CFA, FRM

China Auto: ICE Price War Triggered by Dongfeng, JV Players Under Pressure

Dongfeng's irrational sales promitions announced last weekend has triggered a price war with more than 30 brands joining with similar ranges of...

Victoria Li

A-H Premium Weekly (Mar 3rd): Xinjiang Goldwind, ZTE, China Southern, CRRC, GWM, China Telecom

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Xinjiang Goldwind, ZTE, China Southern, CRRC, GWM, China...

Ke Yan, CFA, FRM

Automaker GAC Seeks China-Made Chips to Ease Dependence on Foreign Suppliers

Guangzhou Automobile Group Co. Ltd. (GAC) (601238.SH -0.51%) is working to get more domestically produced microchips into its vehicles. It relies...

Caixin Global

CX Daily: Malaysia’s New Trade Minister Explains Why China Matters to Southeast Asia

China-Malaysia /: Q&A: Malaysia’s new trade minister explains why China matters to Southeast Asia Security /: China spells out ‘Global...

Caixin Global

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)