Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>This is the Brand Spanking New and Extra Spiffy H/A-Share Discount/Premium Weekly designed to help investors see the relationships easily. We used to do it. </li>
<li>We decided to bring it back better. There are lots of cool interactive tables, and charts, heat maps, and comparative data. And 19 Trade Recommendations. </li>
<li>We hope this new version serves readers even better. Feedback is actively solicited to see if we can improve it from here. </li>
</ul>


This is the Brand Spanking New and Extra Spiffy H/A-Share Discount/Premium Weekly designed to help investors see the relationships easily. We used to do it. 
We decided to bring it back better. There are lots of cool interactive tables, and charts, heat maps, and comparative data. And 19 Trade Recommendations. 
We hope this new version serves readers even better. Feedback is actively solicited to see if we can improve it from here. 


The Brand Spanking New Extra Spiffy 🦄H/A-Share Discount/Premium Weekly (As of 11 Aug 2023)

HK/China Equity Long-Short

Osbert Tang, CFA

Equity Bottom-Up

<ul>
<li>Through its 43.58% ownership in lithium carbonate producer Lanke Lithium Industry, <a href="https://www.smartkarma.com/entities/keda-industrial-group-co-ltd" target="_blank" data-smartkarma-citation="entities:20691:1" rel="noopener">Keda Industrial Group (600499 CH)</a> is well placed to benefit from the increase in lithium demand.</li>
<li>Lanke's capacity has recently been upgraded to 30,000 tonnes. Also, Keda is adding capacity to its own integrated anode materials factory in Fujian to capture the ever-rising demand. </li>
<li>Overseas ceramic business will see solid growth from key markets in Africa as Keda raises capacity by 65% by FY23. The stock's valuations are inexpensive relative to peers. </li>
</ul>


Through its 43.58% ownership in lithium carbonate producer Lanke Lithium Industry, Keda Industrial Group (600499 CH) is well placed to benefit from the increase in lithium demand.
Lanke's capacity has recently been upgraded to 30,000 tonnes. Also, Keda is adding capacity to its own integrated anode materials factory in Fujian to capture the ever-rising demand. 
Overseas ceramic business will see solid growth from key markets in Africa as Keda raises capacity by 65% by FY23. The stock's valuations are inexpensive relative to peers. 


Keda Industrial (600499 CH): Lithium Play Backed by Multi-Pronged Growth Strategies

<ul>
<li>The New/Better A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc.</li>
<li>SOUTHBOUND a net buyer <em>every day</em> since the end of Chinese New Year. NORTHBOUND a huge net buyer this week, now net buyers in size (RMB +93bn) over 7 weeks.</li>
<li>For the first time in a while, AH premia among liquid stocks fell convincingly. Narrow AH premia pairs saw Hs outperform more than wide AH premia Hs (vs As).</li>
</ul>


The New/Better A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc.
SOUTHBOUND a net buyer every day since the end of Chinese New Year. NORTHBOUND a huge net buyer this week, now net buyers in size (RMB +93bn) over 7 weeks.
For the first time in a while, AH premia among liquid stocks fell convincingly. Narrow AH premia pairs saw Hs outperform more than wide AH premia Hs (vs As).


A/H Premium Tracker (To 15 Mar 2024):  Liquid AH Premia Starting to Narrow

<ul>
<li>The New/Better A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc. But that didn't help. </li>
<li>SOUTHBOUND flows were bigly positive and NORTHBOUND flows a large net sell. Nevertheless AH Premia had their best week in ages as HK large caps, mid-caps, small-caps got shellacked.</li>
<li>Now at new 52wk wides on A premia. Now within 3% of 5+ year highs.</li>
</ul>


The New/Better A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc. But that didn't help. 
SOUTHBOUND flows were bigly positive and NORTHBOUND flows a large net sell. Nevertheless AH Premia had their best week in ages as HK large caps, mid-caps, small-caps got shellacked.
Now at new 52wk wides on A premia. Now within 3% of 5+ year highs.


A/H Premium Tracker (To 19 Jan 2024):  Hs Shellacked Vs As. Near Multi-Year High Average AH Premia

<ul>
<li>
<a href="https://www.smartkarma.com/entities/allkem-ltd" target="_blank" data-smartkarma-citation="entities:3572:1" rel="noopener">Allkem Ltd (AKE AU)</a> saw its last day of trading on 21 December. There was large volume at the close as one major index provider gave it the boot. </li>
<li>Another delayed their treatment at the last minute, and eliminated a cross-flow.</li>
<li>But there is still a lot of net buy flow tomorrow (3 Jan) and the next day in the US. Perhaps more than I expected. </li>
</ul>



Allkem Ltd (AKE AU) saw its last day of trading on 21 December. There was large volume at the close as one major index provider gave it the boot. 
Another delayed their treatment at the last minute, and eliminated a cross-flow.
But there is still a lot of net buy flow tomorrow (3 Jan) and the next day in the US. Perhaps more than I expected. 


Allkem + Livent = Arcadium : Updated Expected Index Flows

China

Jiangxi Ganfeng Lithium Co., Ltd. researches and produces lithium products and operates import, export and manufacturing businesses for its own products.  The Company's products include lithium metal, lithium aluminum hydride, lithium fluoride, lithium chloride, and other chemical products of lithium.

Price Gauge
52-week Range	0.00 - 0.00
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Jiangxi Ganfeng Lithium (002460 CH)

Keda Industrial (600499 CH): Lithium Play Backed by Multi-Pronged Growth Strategies

Keda is a relatively undervalued play on growing lithium demand. In addition to investment in lithium carbonate producer Lanke Lithium, it is also...

Osbert Tang, CFA

A/H Premium Tracker (To 15 Mar 2024): Liquid AH Premia Starting to Narrow

AH Premia narrowed more on liquid narrow premia than on less liquid and wide premia. This is a new development. Energy and Utilities saw Hs rebound...

Travis Lundy

A/H Premium Tracker (To 19 Jan 2024): Hs Shellacked Vs As. Near Multi-Year High Average AH Premia

H-shares got completely creamed vs As this past week. Every sector. Every Premium cohort. Quality/liquid spreads hurt more. Multiple 10% movers.

Travis Lundy

Allkem + Livent = Arcadium : Updated Expected Index Flows

Flows for Livent-become-Arcadium Lithium over the next 3 days are relatively prodigious. This comes from upweights in US indices not matched by...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Brand Spanking New Extra Spiffy 🦄H/A-Share Discount/Premium Weekly (As of 11 Aug 2023)

Quiddity's New & Improved And Really Quite Spiffy H/A Discount Monitor. All the H/A Pairs, universe & sector metrics, with interactive tables and...

Travis Lundy

Keda Industrial (600499 CH): Lithium Play Backed by Multi-Pronged Growth Strategies

Keda is a relatively undervalued play on growing lithium demand. In addition to investment in lithium carbonate producer Lanke Lithium, it is also...

Osbert Tang, CFA

A/H Premium Tracker (To 15 Mar 2024): Liquid AH Premia Starting to Narrow

AH Premia narrowed more on liquid narrow premia than on less liquid and wide premia. This is a new development. Energy and Utilities saw Hs rebound...

Travis Lundy

A/H Premium Tracker (To 19 Jan 2024): Hs Shellacked Vs As. Near Multi-Year High Average AH Premia

H-shares got completely creamed vs As this past week. Every sector. Every Premium cohort. Quality/liquid spreads hurt more. Multiple 10% movers.

Travis Lundy

Allkem + Livent = Arcadium : Updated Expected Index Flows

Flows for Livent-become-Arcadium Lithium over the next 3 days are relatively prodigious. This comes from upweights in US indices not matched by...

Travis Lundy