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 150 stocks over the last week. The average A-H premium was 104.8% as of Nov 15th.</li>
<li>The average A-H premium changed by 6.9ppt week-on-week, led by financials, information technology, consumer discretionary and offset by communication services.</li>
<li>We highlight weekly changes in A-H premium for Chalco, CICC, HUAHONG GROUP, CanSinoBIO.</li>
</ul>


We analyse the changes of A-H premium on 150 stocks over the last week. The average A-H premium was 104.8% as of Nov 15th.
The average A-H premium changed by 6.9ppt week-on-week, led by financials, information technology, consumer discretionary and offset by communication services.
We highlight weekly changes in A-H premium for Chalco, CICC, HUAHONG GROUP, CanSinoBIO.


A-H Premium Weekly (Nov 15th):Chalco, CICC, HUAHONG GROUP, CanSinoBIO

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Huge volumes continue to be traded on the mainland share markets. SOUTHBOUND volumes are dropping fast (down 28%wow, down 60-65% vs peak a few weeks ago).</li>
<li>AH premia expanded on average. Liquid H/A pairs saw the H underperform the A in the pair by 1.52% last week. </li>
<li>Continuing differences in opinion between onshore and offshore opinion regarding the vibe of Chinese stimulus will continue to lead to interesting dispersion. Identify the trend and jump in.</li>
</ul>


Huge volumes continue to be traded on the mainland share markets. SOUTHBOUND volumes are dropping fast (down 28%wow, down 60-65% vs peak a few weeks ago).
AH premia expanded on average. Liquid H/A pairs saw the H underperform the A in the pair by 1.52% last week. 
Continuing differences in opinion between onshore and offshore opinion regarding the vibe of Chinese stimulus will continue to lead to interesting dispersion. Identify the trend and jump in.


A/H Premium Tracker (To 1 Nov 2024): AH Premia Higher as A-Share Tech Underperforms

<ul>
<li>We analyse the changes of A-H premium on 147 stocks over the last week. The average A-H premium was 107.4% as of May 31st.</li>
<li>The average A-H premium changed by 1.3ppt week-on-week, led by financials, consumer discretionary, health care and offset by information technology.</li>
<li>We highlight weekly changes in A-H premium for PetroChina, Chinalco, Tsingtao Brewery, Huanneg Power, Huahong Semi, CICC, Ganfeng Lithium.</li>
</ul>


We analyse the changes of A-H premium on 147 stocks over the last week. The average A-H premium was 107.4% as of May 31st.
The average A-H premium changed by 1.3ppt week-on-week, led by financials, consumer discretionary, health care and offset by information technology.
We highlight weekly changes in A-H premium for PetroChina, Chinalco, Tsingtao Brewery, Huanneg Power, Huahong Semi, CICC, Ganfeng Lithium.


A-H Premium Weekly (May 31st): PetroChina, Chinalco, Tsingtao Brewery, Huanneg Power, Huahong Semi

<ul>
<li>We analyse the changes of A-H premium on 147 stocks over the last week. The average A-H premium was 110.7% as of May 24th.</li>
<li>The average A-H premium changed by 4.3ppt week-on-week, led by real estate, financials, information technology and offset by communication services.</li>
<li>We highlight weekly changes in A-H premium for BOC, CCB, PetroChina, Zoomlion Heavy, Jiangxi Copper, China Longyuan.</li>
</ul>


We analyse the changes of A-H premium on 147 stocks over the last week. The average A-H premium was 110.7% as of May 24th.
The average A-H premium changed by 4.3ppt week-on-week, led by real estate, financials, information technology and offset by communication services.
We highlight weekly changes in A-H premium for BOC, CCB, PetroChina, Zoomlion Heavy, Jiangxi Copper, China Longyuan.


A-H Premium Weekly (May 24th): BOC, CCB, PetroChina, Zoomlion Heavy, Jiangxi Copper, China Longyuan

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

<ul>
<li>Since mid-April we discussed how downside was limited on MSCI ACWI and EURO STOXX 50, and May 2nd discussed it was "quite possible" the lows were in.</li>
<li>Now, the MSCI ACWI, ACWI ex-US, EAFE, and EM indexes have all broken out to new multi-year highs. Our bullish outlook (since early-November 2023) remains intact; expect higher prices ahead.</li>
<li>China (MSCI China) continues to lead the EM turnaround, and we remain bullish on the space. We highlight many large-cap EM buys within Communications, Technology, Discretionary; we remain bullish miners.</li>
</ul>


Since mid-April we discussed how downside was limited on MSCI ACWI and EURO STOXX 50, and May 2nd discussed it was "quite possible" the lows were in.
Now, the MSCI ACWI, ACWI ex-US, EAFE, and EM indexes have all broken out to new multi-year highs. Our bullish outlook (since early-November 2023) remains intact; expect higher prices ahead.
China (MSCI China) continues to lead the EM turnaround, and we remain bullish on the space. We highlight many large-cap EM buys within Communications, Technology, Discretionary; we remain bullish miners.


Bullish Outlook Intact; EM and China Continue to Bottom; Buys in Comms, Tech, Discretionary, Miners

China

Jiangxi Copper Company Limited mines and distributes metal products. The Company produces nonferrous metals, ferrous metals, rare metals, and other products. Jiangxi Copper also produces chemical products.

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

Jiangxi Copper (600362 CH)

A-H Premium Weekly (Nov 15th):Chalco, CICC, HUAHONG GROUP, CanSinoBIO

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Chalco, CICC, HUAHONG GROUP, CanSinoBIO.

Ke Yan, CFA, FRM

A-H Premium Weekly (May 31st): PetroChina, Chinalco, Tsingtao Brewery, Huanneg Power, Huahong Semi

We analyzed A-H premium changes in the past week and highlight A-H premium changes for PetroChina, Chinalco, Tsingtao Brewery, Huanneg Power, Hua...

Ke Yan, CFA, FRM

A-H Premium Weekly (May 24th): BOC, CCB, PetroChina, Zoomlion Heavy, Jiangxi Copper, China Longyuan

We analyzed A-H premium changes in the past week and highlight A-H premium changes for BOC, CCB, PetroChina, Zoomlion Heavy, Jiangxi Copper, China...

Ke Yan, CFA, FRM

Bullish Outlook Intact; EM and China Continue to Bottom; Buys in Comms, Tech, Discretionary, Miners

Bullish Outlook Intact $ACWI; EM and China Continue to Lead; U.S. Dollar (DXY), WTI Crude Oil, and Gasoline Prices Rolling Over; Buys in: Comms,...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

A-H Premium Weekly (Nov 15th):Chalco, CICC, HUAHONG GROUP, CanSinoBIO

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Chalco, CICC, HUAHONG GROUP, CanSinoBIO.

Ke Yan, CFA, FRM

A/H Premium Tracker (To 1 Nov 2024): AH Premia Higher as A-Share Tech Underperforms

AH premia widened this week with liquid spreads widening more than average spreads. The premium curve was inconsistent. Opportunistic reversion...

Travis Lundy

A-H Premium Weekly (May 31st): PetroChina, Chinalco, Tsingtao Brewery, Huanneg Power, Huahong Semi

We analyzed A-H premium changes in the past week and highlight A-H premium changes for PetroChina, Chinalco, Tsingtao Brewery, Huanneg Power, Hua...

Ke Yan, CFA, FRM

A-H Premium Weekly (May 24th): BOC, CCB, PetroChina, Zoomlion Heavy, Jiangxi Copper, China Longyuan

We analyzed A-H premium changes in the past week and highlight A-H premium changes for BOC, CCB, PetroChina, Zoomlion Heavy, Jiangxi Copper, China...

Ke Yan, CFA, FRM

Bullish Outlook Intact; EM and China Continue to Bottom; Buys in Comms, Tech, Discretionary, Miners

Bullish Outlook Intact $ACWI; EM and China Continue to Lead; U.S. Dollar (DXY), WTI Crude Oil, and Gasoline Prices Rolling Over; Buys in: Comms,...

Vermilion Research