Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<ul>
<li>I visited a Clarks store in Putney, London today. I provide details of this store visit. </li>
<li>Clarks is well poised to stage a major turnaround in business, capitalizing on improving popularity of its core Wallabee shoes and expansion into other distribution channels such as Deichmann. </li>
<li>Clarks hired Jonathan Ram as its new CEO in April 2022. Previously, Ram headed up HanesBrands global activewear since 2018. He also worked 16 years at New Balance.</li>
</ul>


I visited a Clarks store in Putney, London today. I provide details of this store visit. 
Clarks is well poised to stage a major turnaround in business, capitalizing on improving popularity of its core Wallabee shoes and expansion into other distribution channels such as Deichmann. 
Clarks hired Jonathan Ram as its new CEO in April 2022. Previously, Ram headed up HanesBrands global activewear since 2018. He also worked 16 years at New Balance.


Visit to a Clarks Store in London, A New CEO, & The Surprising Popularity of Clarks' Wallabees

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.</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 CNOOC, Kuaishou, China Mobile, Li Ning, Tsingtao.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight inflows into CNOOC, Kuaishou, China Mobile, Li Ning, Tsingtao.


Hong Kong Connect Flows: CNOOC, Kuaishou, China Mobile, Li Ning, Tsingtao

HK/China Equity Long-Short

Osbert Tang, CFA

Thematic (Sector/Industry)

<ul>
<li>Infrastructure, new energy, consumer discretionary and, to a lesser extent, transportation and logistics are sectors that will benefit from extensive government economic supportive policies over the last few days. </li>
<li>Acceleration of special purpose bonds will drive <a href="https://www.smartkarma.com/entities/china-communications-construction-co-ltd" target="_blank" data-smartkarma-citation="entities:265:1" rel="noopener">China Communications Construction (1800 HK)</a>. We see <a href="https://www.smartkarma.com/entities/china-longyuan-power-group-corp-ltd" target="_blank" data-smartkarma-citation="entities:14215:1" rel="noopener">China Longyuan Power (916 HK)</a> and <a href="https://www.smartkarma.com/entities/dongfang-electric-corporation-limited" target="_blank" data-smartkarma-citation="entities:1251:1" rel="noopener">Dongfang Electric (1072 HK)</a> benefit from new energy initiatives.</li>
<li>
<a href="https://www.smartkarma.com/entities/li-ning-co-ltd" target="_blank" data-smartkarma-citation="entities:6047:1" rel="noopener">Li Ning (2331 HK)</a> will be the near-term winner in the consumer discretionary space and so as <a href="https://www.smartkarma.com/entities/haier-smart-home-co-ltd-b3ef445f-0f54-4586-8c58-9073de98d60e" target="_blank" data-smartkarma-citation="entities:31105:1" rel="noopener">Haier Smart Home Co Ltd (6690 HK)</a>.</li>
</ul>


Infrastructure, new energy, consumer discretionary and, to a lesser extent, transportation and logistics are sectors that will benefit from extensive government economic supportive policies over the last few days. 
Acceleration of special purpose bonds will drive China Communications Construction (1800 HK). We see China Longyuan Power (916 HK) and Dongfang Electric (1072 HK) benefit from new energy initiatives.

Li Ning (2331 HK) will be the near-term winner in the consumer discretionary space and so as Haier Smart Home Co Ltd (6690 HK).


Roundup of Government Economic Supportive Policies: Key Winners

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outlfows, and holding by mainland investors.</li>
<li>Inflows last month amounted to USD 5.7bn which marks sixth months of inflows. Top three stocks southbound investors bought were Meituan, CNOOC, and Tencent.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outlfows, and holding by mainland investors.
Inflows last month amounted to USD 5.7bn which marks sixth months of inflows. Top three stocks southbound investors bought were Meituan, CNOOC, and Tencent.


Hong Kong Connect Flows Monthly (May): Meituan, CNOOC, Tencent

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

Tsingtao Brewery Co Ltd H / Equity Capital Markets

<ul>
<li>Fosun aims to raise around US$527m via selling a 3.5% stake in Tsingtao.</li>
<li>This is not the first selldown by Fosun, we have covered three prior deals in Dec 2020, Apr 2021 and Dec 2021.</li>
<li>In this note, we will talk about the deal dynamics and run the deal through our ECM framework.</li>
</ul>


Fosun aims to raise around US$527m via selling a 3.5% stake in Tsingtao.
This is not the first selldown by Fosun, we have covered three prior deals in Dec 2020, Apr 2021 and Dec 2021.
In this note, we will talk about the deal dynamics and run the deal through our ECM framework.


Tsingtao Placement - Ending the Selldowns with the Biggest One so Far

China

Li Ning Company Limited researches, designs, manufactures, distributes, and retails sports footwear, apparel and accessories for sport and leisure use.

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Li Ning (2331 HK)

Visit to a Clarks Store in London, A New CEO, & The Surprising Popularity of Clarks' Wallabees

I visited a Clarks store in Putney, London today. I provide details of this store visit. Clarks is well poised to stage a major turnaround in...

Douglas Kim

Hong Kong Connect Flows: CNOOC, Kuaishou, China Mobile, Li Ning, Tsingtao

We highlight 4 weeks of southbound Hong Kong connect net inflows, and inflows into CNOOC, Kuaishou, China Mobile, Li Ning, Tsingtao.

Ke Yan, CFA, FRM

Roundup of Government Economic Supportive Policies: Key Winners

We expect the government economic supportive policies released in the last few days to drive the infrastructure, new energy, consumer discretionary...

Osbert Tang, CFA

Hong Kong Connect Flows Monthly (May): Meituan, CNOOC, Tencent

Inflows last month amounted to USD 5.7bn which marks sixth months of inflows. Top three stocks southbound investors bought were Meituan, CNOOC, and...

Ke Yan, CFA, FRM

Tsingtao Placement - Ending the Selldowns with the Biggest One so Far

Fosun aims to raise around US$527m via selling a 3.5% stake in Tsingtao. We have covered three other selldowns by Fosun before.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

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