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 Hong Kong Connect flows with our data engine for holding position as of October 21st.</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 inflows into Tencent Holding Limited, Meituan, Wuxi Biologics.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 21st.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight inflows into Tencent Holding Limited, Meituan, Wuxi Biologics.


Hong Kong Connect Flows (Oct 21st): $3.2bn Inflows

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Inside is a recap of movements in the last week relating to the Shanghai and Shenzhen-Hong Kong Stock Connect facilities, broken down by company and industry.</li>
<li>Overall, the net inflow over the past week was ~US$2.7bn, split (+US$1.38bn) for Shanghai and (+US$1.36bn) for Shenzhen.</li>
<li>The largest inflows were into <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> and <a href="https://www.smartkarma.com/entities/wuxi-apptec" target="_blank" data-smartkarma-citation="entities:23679:1" rel="noopener">Wuxi (2269 HK)</a>. The largest outflows <a href="https://www.smartkarma.com/entities/tracker-fund-of-hong-kong-ltd" target="_blank" data-smartkarma-citation="entities:29257:1" rel="noopener">Tracker Fund of Hong Kong (2800 HK)</a> and <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index-etf" target="_blank" data-smartkarma-citation="entities:25:1" rel="noopener">Hang Seng H Share Index (2828 HK)</a>.</li>
</ul>


Inside is a recap of movements in the last week relating to the Shanghai and Shenzhen-Hong Kong Stock Connect facilities, broken down by company and industry.
Overall, the net inflow over the past week was ~US$2.7bn, split (+US$1.38bn) for Shanghai and (+US$1.36bn) for Shenzhen.
The largest inflows were into Tencent (700 HK) and Wuxi (2269 HK). The largest outflows Tracker Fund of Hong Kong (2800 HK) and Hang Seng H Share Index (2828 HK).


Shanghai/​​​​​​​​​​​​​​​​​Shenzhen Southbound Connect: Weekly Moves (21 October 2022)

<ul>
<li>Inside is a recap of movements in the last week relating to the Shanghai and Shenzhen-Hong Kong Stock Connect facilities, broken down by company and industry.</li>
<li>Overall, the net inflow over the past week was ~US$1.3bn, split (+US$0.75bn) for Shanghai and (+US$0.58bn) for Shenzhen.</li>
<li>The largest inflows were into <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> and <a href="https://www.smartkarma.com/entities/cnooc-ltd" target="_blank" data-smartkarma-citation="entities:175:1" rel="noopener">CNOOC Ltd (883 HK)</a>. The largest outflows were in <a href="https://www.smartkarma.com/entities/sunny-optical-tech" target="_blank" data-smartkarma-citation="entities:13363:1" rel="noopener">Sunny Optical (2382 HK)</a> and <a href="https://www.smartkarma.com/entities/industrial-and-commercial-bank-of-china-limited" target="_blank" data-smartkarma-citation="entities:1119:1" rel="noopener">ICBC (H) (1398 HK)</a>.</li>
</ul>


Inside is a recap of movements in the last week relating to the Shanghai and Shenzhen-Hong Kong Stock Connect facilities, broken down by company and industry.
Overall, the net inflow over the past week was ~US$1.3bn, split (+US$0.75bn) for Shanghai and (+US$0.58bn) for Shenzhen.
The largest inflows were into Tencent (700 HK) and CNOOC Ltd (883 HK). The largest outflows were in Sunny Optical (2382 HK) and ICBC (H) (1398 HK).


Shanghai/​​​​​​​​​​​​​​Shenzhen Southbound Connect: Weekly Moves (30 September 2022)

Global Healthcare Analyst

Tina Banerjee

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/genuine-biotech-limited" target="_blank" data-smartkarma-citation="entities:36220:1" rel="noopener">Genuine Biotech (GBL HK)</a> has filed for HK listing. Its Azvudine received NMPA approval for the treatment of COVID-19 in July 2022 to become the first China-made oral COVID-19 drug.</li>
<li>Azvudine was conditionally approved by the NMPA for the treatment of HIV infection in July 2021. However, the drug is yet to be commercialized.</li>
<li>Genuine Biotech plans to use the IPO proceeds for the commercialization of Azvudine. The company’s current cash balance can maintain its financial viability for approximately 20 months.</li>
</ul>



Genuine Biotech (GBL HK) has filed for HK listing. Its Azvudine received NMPA approval for the treatment of COVID-19 in July 2022 to become the first China-made oral COVID-19 drug.
Azvudine was conditionally approved by the NMPA for the treatment of HIV infection in July 2021. However, the drug is yet to be commercialized.
Genuine Biotech plans to use the IPO proceeds for the commercialization of Azvudine. The company’s current cash balance can maintain its financial viability for approximately 20 months.


Genuine Biotech (GBL HK): COVID Pill No Longer Attractive Opportunity; Thin Pipeline Mars Conviction

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 16th.</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 inflows into Wuxi Biologics (Cayman) Inc and CNOOC. </li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 16th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight inflows into Wuxi Biologics (Cayman) Inc and CNOOC. 


Hong Kong Connect Flows (Sep 16th): Chinese Buying Wuxi Biologics After Biden's New Executive Order

China

Biosino Bio-Technology & Science, Inc. is a biotechnology company.  The Company develops, manufactures, and markets protein-based in-vitro diagnostic reagents and biochemical drugs.  The Company's diagnostic reagents help diagnose cardiac, helatic, diabetes, inflammation/immunology, and pancreatic related diseases.

I-Mab operates as a clinical stage biopharmaceutical company. The Company focuses on the discovery, development, and commercialization of novel biologics to treat diseases with significant unmet medical needs, particularly cancers and autoimmune disorders. I-Mab conducts business in China.

Mabpharm Limitied manufactures medical products. The Company produces cancer treatment drugs, immune diseases drugs, biosimilar drugs, and other products. Mabpharm markets its products throughout China.

Quantum Hi-Tech China Biological Co Ltd researches, develops, produces and sells fructooligosaccharides (FOS) products. The Company's main products are fructooligosaccharides, galacto-oligosaccharide and complex oligosaccharides.

Quantum Hi Tech (China) Biologicl (300149 CH)

Beijing Leadman Biochemistry Company Limited develops, manufactures and sells in vitro diagnostic products and biochemical raw materials. The Company's main products include in vitro diagnostic reagents, and biochemical raw materials.

Xinjiang Tianshan Animal Husbandry Bio-engineering Co Ltd develops cattle breed and genetic improvements. The Company's main products include high quality cattle semen, embryos as well as other genetic material and related services.

Xinjiang Tianshan Animal Husba (300313 CH)

Jiangsu Sihuan Bioengineering Co., Ltd. operates in the  pharmaceutical industry.  The Company's products include injections, tablets, bioengineering products, and other related products.

Jiangsu Sihuan Bioengineering Co., (000518 CH)

Grandhope Biotech Company Limited develops, manufactures and markets regenerative medical materials and regenerative implantable medical devices.

Shanghai Kehua Bio-Engineering Co., Ltd. develops and manufactures bio-chemical reagents, medical equipment, diagnostic reagents, and genetic engineering pharmaceuticals.

Shanghai Kehua Bio Engineering (002022 CH)

Baotou Dongbao Bio-technology Company Limited develops, produces, sells gelatinrelated and small moledule collagen products. The Company also produces calcium hydrogen phosphate as a by-product.

Orthocell Ltd is a biotherapeutic technology development company seeking to address unmet clinical needs within the global orthopaedics sector. The Company's core focus is biological therapies for tendon and ligament tissue repair and regeneration.

AnGes MG, Inc. develops gene-therapy drugs that use Hepatocyte Growth Factor (HGF) for myocardial infarction and arteriosclerosis patients.  The Company also develops nucleic acid drug (decoy oligo) for patients with asthma, allergy, and rheumatism.  AnGes MG develops vectors (a carrier used to introduce a foreign gene into a host cell) which help study and analyze genetic functions.

SELLAS Life Sciences Group, Inc. operates as a biopharmaceutical company. The Company develops late-stage oncology drugs and therapies for the treatment of cancer diseases. SELLAS Life Sciences Group serves patients worldwide.

Allied Biotech Corp manufactures carotenoid formulations for food, supplement and feed industries. Products include beta-carotene, beta-apo-8-carotenal, coenzyme Q10 and lycopene.

Genomics BioSci & Tech Co., Ltd. provides complete and professional antibody production services, multiple immune animal systems, and complete antibody production consulting services. The Company offers DNA sequencing, primer synthesis, genetic function analysis, gene mutation analysis, and biological information integration.

Taiwan Advance Bio-Pharmaceutical Inc researches and develops IVD, antibiotic preparation, umbilical cord blood stem cell, other medical equipments. The company also provides drug testing services and biotechnology services.

Atara Biotherapeutics Inc. provides health care services. The Company offers research and development treatment solutions for cancer, kidney disease, and other illnesses.

Naturalendo Tech Co., Ltd. specializes in bio-sciences, herbs, and endocrinology.  The Company also develops, manufactures, and sells health care products such as natural medicine, health food, cosmetic material, and transdermal drug delivery system.

Cidara Therapeutics, Inc. operates as a bio-pharmaceutical company. The Company focuses on the discovery, development, and commercialization of novel anti-infectives for the treatment of diseases. Cidara Therapeutics serves customers in the United States.

Seoulin Bioscience Co., Ltd. develops and provides biotechnology related products.  The Company's main products include DNA chip scanner and diagnostic DNA kit. Seoulin also operates various research.

Kintor Pharmaceutical Limited develops and markets drugs. The Company produces and sells androgen receptor antagonists, small molecule innovative drugs, and other products. Kintor Pharmaceutical markets its products primarily throughout China with limited overseas.

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Kintor Pharmaceutical (9939 HK)

Hong Kong Connect Flows (Oct 21st): $3.2bn Inflows

We analyzed the Hong Kong Connect Scheme for last week and highlight $3.2bn inflows last week and flows for Tencent, Meituan, Wuxi Biologics.

Ke Yan, CFA, FRM

Shanghai/Shenzhen Southbound Connect: Weekly Moves (21 October 2022)

Inside is a recap of movements in the Shanghai/Shenzhen-HK Connect. Overall, the net inflow over the past week was ~US$2.7bn, split (+US$1.38bn)...

David Blennerhassett

Shanghai/Shenzhen Southbound Connect: Weekly Moves (30 September 2022)

Inside is a recap of movements in the Shanghai/Shenzhen-HK Connect. Overall, the net inflow over the past week was ~US$1.3bn, split (-US$0.75bn)...

David Blennerhassett

Genuine Biotech (GBL HK): COVID Pill No Longer Attractive Opportunity; Thin Pipeline Mars Conviction

Genuine Biotech has filed for Hong Kong listing to raise funds to commercialize its newly approved drug. The company’s Azvudine is the first China...

Tina Banerjee

Hong Kong Connect Flows (Sep 16th): Chinese Buying Wuxi Biologics After Biden's New Executive Order

We analyzed Hong Connect flows last week and highlight Chinese purchase of Wuxi Biologics post new executive order signed on Monday.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Connect Flows (Oct 21st): $3.2bn Inflows

We analyzed the Hong Kong Connect Scheme for last week and highlight $3.2bn inflows last week and flows for Tencent, Meituan, Wuxi Biologics.

Ke Yan, CFA, FRM

Shanghai/​​​​​​​​​​​​​​​​​Shenzhen Southbound Connect: Weekly Moves (21 October 2022)

Inside is a recap of movements in the Shanghai/Shenzhen-HK Connect. Overall, the net inflow over the past week was ~US$2.7bn, split (+US$1.38bn)...

David Blennerhassett

Shanghai/​​​​​​​​​​​​​​Shenzhen Southbound Connect: Weekly Moves (30 September 2022)

Inside is a recap of movements in the Shanghai/Shenzhen-HK Connect. Overall, the net inflow over the past week was ~US$1.3bn, split (-US$0.75bn)...

David Blennerhassett

Genuine Biotech (GBL HK): COVID Pill No Longer Attractive Opportunity; Thin Pipeline Mars Conviction

Genuine Biotech has filed for Hong Kong listing to raise funds to commercialize its newly approved drug. The company’s Azvudine is the first China...

Tina Banerjee

Hong Kong Connect Flows (Sep 16th): Chinese Buying Wuxi Biologics After Biden's New Executive Order

We analyzed Hong Connect flows last week and highlight Chinese purchase of Wuxi Biologics post new executive order signed on Monday.

Ke Yan, CFA, FRM

Shanghai/Shenzhen Southbound Connect: Weekly Moves (21 October 2022)

Shanghai/Shenzhen Southbound Connect: Weekly Moves (30 September 2022)