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 the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of February 23rd.</li>
<li>We estimate the weekly inflows to be US$1,986.7 million, led by financials, consumer staples, industrials sectors, and offset by information technology, communication services.</li>
<li>We highlight flows for Moutai, CATL, Ping An Insurance, CMB, Industrial Bank, ICBC, Wuliangye, Agricultural Bank Of China, Inner Mongolia Yili Industrial, Wuxi Apptec.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of February 23rd.
We estimate the weekly inflows to be US$1,986.7 million, led by financials, consumer staples, industrials sectors, and offset by information technology, communication services.
We highlight flows for Moutai, CATL, Ping An Insurance, CMB, Industrial Bank, ICBC, Wuliangye, Agricultural Bank Of China, Inner Mongolia Yili Industrial, Wuxi Apptec.


Northbound Flows (Feb 23rd): Moutai, CATL, Ping An Insurance, CMB, Industrial Bank, ICBC, Wuliangye

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Feb 16th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Boc Aviation, and Link Reit.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Feb 16th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Boc Aviation, and Link Reit.


HK Short Interest Weekly: Boc Aviation, Link Reit

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 10.7bn of A-shares on strong average activity after RMB +16.1bn, +9.9bn and +12.1bn the three weeks before. More National Team buying this week.</li>
<li>Five of the top ten buys among liquid NORTHBOUND stocks were finance. Again. Info Tech saw net selling. Again. People trading long gamma now instead of short gamma.</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 10.7bn of A-shares on strong average activity after RMB +16.1bn, +9.9bn and +12.1bn the three weeks before. More National Team buying this week.
Five of the top ten buys among liquid NORTHBOUND stocks were finance. Again. Info Tech saw net selling. Again. People trading long gamma now instead of short gamma.


Mainland Connect NORTHBOUND Flows (To 23 Feb 2024): Foreigners Buy, Natl Team Buys; Retail Sells

<ul>
<li>We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 129.8% as of Feb 9th.</li>
<li>The average A-H premium changed by 6.2ppt week-on-week, led by health care, materials, real estate and offset by consumer discretionary, communication services.</li>
<li>We highlight weekly changes in A-H premium for Zijin Mining, Conch Cement, China Vanke, Air China, Shandong Gold, RemeGen, CICC, Shanghai Junshi.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 129.8% as of Feb 9th.
The average A-H premium changed by 6.2ppt week-on-week, led by health care, materials, real estate and offset by consumer discretionary, communication services.
We highlight weekly changes in A-H premium for Zijin Mining, Conch Cement, China Vanke, Air China, Shandong Gold, RemeGen, CICC, Shanghai Junshi.


A-H Premium Weekly (Feb 9th): Zijin Mining, Conch Cement, China Vanke, Air China, Shandong Gold

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Feb 2nd.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Hscei Etf, Bud Apac, CMB, Tencent, Wuxi Apptec, Wuxi Bio, Lenovo.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Feb 2nd.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Hscei Etf, Bud Apac, CMB, Tencent, Wuxi Apptec, Wuxi Bio, Lenovo.


HK Short Interest Weekly: Hscei Etf, Bud Apac, CMB, Tencent, Wuxi Apptec, Wuxi Bio

China

Industrial and Commercial Bank of China Limited provides banking services. The Company offers deposits, loans, fund underwriting, foreign currency settlement, and other services. Industrial and Commercial Bank of China provides its services to individuals, enterprises, and other clients.

Price Gauge
52-week Range	0.00 - 0.00
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ICBC (H) (1398 HK)

Northbound Flows (Feb 23rd): Moutai, CATL, Ping An Insurance, CMB, Industrial Bank, ICBC, Wuliangye

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Moutai, CATL, Ping An Insurance, CMB, Industrial...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Boc Aviation, Link Reit

We analyzed the latest HK SFC report for aggregate short position as of Feb 16th and highlight short interest changes in Boc Aviation, Link Reit.

Ke Yan, CFA, FRM

Mainland Connect NORTHBOUND Flows (To 23 Feb 2024): Foreigners Buy, Natl Team Buys; Retail Sells

NORTHBOUND was a net buy 4 weeks in a row (assuming the Chinese New Year and the week after were "1 week"). Felt like an allocation week. Retail...

Travis Lundy

A-H Premium Weekly (Feb 9th): Zijin Mining, Conch Cement, China Vanke, Air China, Shandong Gold

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Zijin Mining, Conch Cement, China Vanke, Air China, Shandong...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Hscei Etf, Bud Apac, CMB, Tencent, Wuxi Apptec, Wuxi Bio

We analyzed the latest HK SFC report for aggregate short position as of Feb 2nd and highlight short interest changes in Hscei Etf, Bud Apac, CMB,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)