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 monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight inflows into TraHK, Xpeng, SMIC, CSOP Hang Seng ETF, Ping An Insurance.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight inflows into TraHK, Xpeng, SMIC, CSOP Hang Seng ETF, Ping An Insurance.


Hong Kong Connect Flows (November): Five Months of Inflows Despite New Low

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Qyuns Therapeutics / Equity Capital Markets

<ul>
<li>The sales scale of drugs for autoimmune diseases in China is much lower than that in overseas markets. So, internationalization is inevitable for companies in this industry.</li>
<li>Qyuns’s candidates have to face fierce competition, with no advantage in R&amp;D progress.Since Qyuns mainly do clinical trials in China, its future valuation is hard to have big expansion potential.</li>
<li>Many investors may still “live in the illusion” for China biotech. We think Qyuns would not finally transform into a biopharma. Its valuation should be lower than Keymed.</li>
</ul>


The sales scale of drugs for autoimmune diseases in China is much lower than that in overseas markets. So, internationalization is inevitable for companies in this industry.
Qyuns’s candidates have to face fierce competition, with no advantage in R&amp;D progress.Since Qyuns mainly do clinical trials in China, its future valuation is hard to have big expansion potential.
Many investors may still “live in the illusion” for China biotech. We think Qyuns would not finally transform into a biopharma. Its valuation should be lower than Keymed.


Pre-IPO Qyuns Therapeutics - Conservative About the Outlook

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 17th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight Hongkong connect flows for Meituan, Tencent and Xiaomi.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 17th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight Hongkong connect flows for Meituan, Tencent and Xiaomi.


Hong Kong Connect Flows (Nov 17th): Meituan, Tencent, Xiaomi

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 10th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight the flows for Tencent, China Mobile and CNOOC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 10th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight the flows for Tencent, China Mobile and CNOOC.


Hong Kong Connect Flows (Nov 10th): Tencent, China Mobile, CNOOC

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 3rd.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Li Ning, Semiconductor Manufacturing International, Xiaomi, Wuxi Biologics, Kuaishou Technology.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 3rd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Li Ning, Semiconductor Manufacturing International, Xiaomi, Wuxi Biologics, Kuaishou Technology.


Hong Kong Connect Flows (Nov 3rd): Li Ning, SMIC, Xiaomi

Hong Kong

Keymed Biosciences Inc. operates a biotechnology company. The Company focus on the in-house discovery and development of innovative biological therapies. Keymed Biosciences provides services in China.

Price Gauge
52-week Range	0.00 - 0.00
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Keymed Biosciences (2162 HK)

Hong Kong Connect Flows (November): Five Months of Inflows Despite New Low

We analyzed the Hong Kong Connect Scheme for November and highlight flows for TraHK, Xpeng, SMIC, CSOP Hang Seng ETF, Ping An Insurance.

Ke Yan, CFA, FRM

Pre-IPO Qyuns Therapeutics - Conservative About the Outlook

Qyuns’s pipeline lacks competitiveness, facing fierce competition.Together with bleak internationalization outlook, peak sales have obvious...

Xinyao (Criss) Wang

Hong Kong Connect Flows (Nov 17th): Meituan, Tencent, Xiaomi

We analyzed southbound Hong Kong connect flows in the past week and highlight Hongkong connect flows for Meituan, Tencent and Xiaomi.

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Nov 10th): Tencent, China Mobile, CNOOC

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Tencent, China Mobile and CNOOC.

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Nov 3rd): Li Ning, SMIC, Xiaomi

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Li Ning, Semiconductor Manufacturing International, Xiaomi,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)