Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/nio-inc-2d526675-c878-4104-840f-87fed1735e85" target="_blank" data-smartkarma-citation="entities:35652:1" rel="noopener">NIO Inc (9866 HK)</a> is expected to list on the <a href="https://www.smartkarma.com/entities/hong-kong-exchanges-clearing" target="_blank" data-smartkarma-citation="entities:490:1" rel="noopener">HKEX (388 HK)</a> tomorrow. Nearly 820m Class A shares are now held on the Hong Kong Share Register.</li>
<li>We do not expect <a href="https://www.smartkarma.com/entities/nio-inc-2d526675-c878-4104-840f-87fed1735e85" target="_blank" data-smartkarma-citation="entities:35652:1" rel="noopener">NIO Inc (9866 HK)</a> to get Fast Entry to the <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index" target="_blank" data-smartkarma-citation="entities:22900:1" rel="noopener">HSCEI INDEX</a> and <a href="https://www.smartkarma.com/entities/hang-seng-tech-index" target="_blank" data-smartkarma-citation="entities:31367:1" rel="noopener">HSTECH INDEX</a>, though inclusion in the HSTECH could take place in June.</li>
<li>
<a href="https://www.smartkarma.com/entities/nio-inc-2d526675-c878-4104-840f-87fed1735e85" target="_blank" data-smartkarma-citation="entities:35652:1" rel="noopener">NIO Inc (9866 HK)</a> is not likely to get Fast Entry to the HSCI. The stock is not eligible for Southbound Stock Connect as a Secondary Listing.</li>
</ul>



NIO Inc (9866 HK) is expected to list on the HKEX (388 HK) tomorrow. Nearly 820m Class A shares are now held on the Hong Kong Share Register.
We do not expect NIO Inc (9866 HK) to get Fast Entry to the HSCEI INDEX and HSTECH INDEX, though inclusion in the HSTECH could take place in June.

NIO Inc (9866 HK) is not likely to get Fast Entry to the HSCI. The stock is not eligible for Southbound Stock Connect as a Secondary Listing.


NIO (9866 HK) Secondary Listing: HSTECH Inclusion in June Likely

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

<ul>
<li>NIO announced that it would look to list in the HK by way of introduction with trading set to begin on 10th March 2022.</li>
<li>Unlike a secondary or a dual primary listing, there will be no new capital raised and there will be no secondary shares sold either.</li>
<li>In this note we take a quick look at the deal dynamics.</li>
</ul>


NIO announced that it would look to list in the HK by way of introduction with trading set to begin on 10th March 2022.
Unlike a secondary or a dual primary listing, there will be no new capital raised and there will be no secondary shares sold either.
In this note we take a quick look at the deal dynamics.


China Specialist, Auto and Industrial Specialist

Victoria Li

Equity Bottom-Up

<ul>
<li>We used to be negative on Li Auto due to its heavily rely on single REEV model and poor new model plan</li>
<li>Recently, the management had said that Li Auto would start developing BEV models and speed up its new model launch.</li>
<li>It’s uncertain how competitive the new BEV model could be when it comes in 2H2023. However it is time to put this stock into the watch list now.</li>
</ul>


We used to be negative on Li Auto due to its heavily rely on single REEV model and poor new model plan
Recently, the management had said that Li Auto would start developing BEV models and speed up its new model launch.
It’s uncertain how competitive the new BEV model could be when it comes in 2H2023. However it is time to put this stock into the watch list now.


Li Auto (LI.US):Getting into the Right Lane

Forensic Analyst

Jason Yap, CFA

Forensic Accounting

<ul>
<li>China’s favourable policies have been important drivers of the New Energy Vehicle (NEV) market</li>
<li>However, we are starting to see renewed efforts for the NEV sector to wean off policy support while traditional automakers are becoming increasingly competitive in this space</li>
<li>We discuss the latest NEV sector policy changes and its implications </li>
</ul>


China’s favourable policies have been important drivers of the New Energy Vehicle (NEV) market
However, we are starting to see renewed efforts for the NEV sector to wean off policy support while traditional automakers are becoming increasingly competitive in this space
We discuss the latest NEV sector policy changes and its implications 


China's EV Sector Policy Support Wean-Off and Its Implications

<ul>
<li>Weibo raised around US$440m in its secondary listing in Hong Kong.</li>
<li>We have covered most aspects of the deal in our previous notes, see <a href="https://www.smartkarma.com/insights/weibo-secondary-listing-needs-to-come-at-a-discount" target="_blank" rel="noopener">here</a> and <a href="https://www.smartkarma.com/insights/weibo-secondary-listing-going-down-the-autohome-route" target="_blank" rel="noopener">here</a>.</li>
<li>In this note, we'll talk about the allocation results and the trading dynamics.</li>
</ul>


Weibo raised around US$440m in its secondary listing in Hong Kong.
We have covered most aspects of the deal in our previous notes, see here and here.
In this note, we'll talk about the allocation results and the trading dynamics.


Weibo Secondary Trading - Delivered a Good Correction but Got Caught in the Wider Rout

China

Li Auto Inc. manufactures automobiles. The Company designs, develops, and sells smart new energy electric sport utility vehicles. Li Auto conducts businesses in China.

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Li Auto (LI US)

NIO (9866 HK) Secondary Listing: HSTECH Inclusion in June Likely

NIO is expected to list on the HKEX tomorrow as a Secondary Listing. We do not expect any passive inflows to the stock in the short-term. HSTECH...

Brian Freitas

NIO HK Listing - Ticking the Box

NIO announced that it would look to list in the HK by way of introduction with trading set to begin on 10th March 2022. In this note, we take a...

Sumeet Singh

Li Auto (LI.US):Getting into the Right Lane

We used to be negative on Li Auto due to its heavily rely on single REEV model and poor new model plan. Recently, the management had said that Li...

Victoria Li

China's EV Sector Policy Support Wean-Off and Its Implications

China's NEV sector is weaning off policy support while traditional automakers are becoming increasingly competitive. We discuss the latest NEV...

Jason Yap, CFA

Weibo Secondary Trading - Delivered a Good Correction but Got Caught in the Wider Rout

Weibo raised around US$440m in its secondary listing in Hong Kong. In this note, we look at the allocation results and talk about the trading...

Sumeet Singh

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