Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

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Equity Bottom-Up

Belle International Holdings / Equity Bottom-Up

<ul><li class="p1">Belle International is China’s leading brick-and-mortar footwear and sportswear retailer, with 20,557 stores as of February 2015.</li><li class="p1">Belle expects net profit in fiscal 2016 to decrease by approximately 35%-45% year over year, significantly lower than both our expectations and the consensus.</li><li class="p1">We believe management needs to come up with a sound strategy to combat foreign and online competition and the weakening position of department stores as distribution channels.</li></ul><p class="p1"><em>Analyst: Chelsey Tam</em></p>

Belle International is China’s leading brick-and-mortar footwear and sportswear retailer, with 20,557 stores as of February 2015.Belle expects net profit in fiscal 2016 to decrease by approximately 35%-45% year over year, significantly lower than both our expectations and the consensus.We believe management needs to come up with a sound strategy to combat foreign and online competition and the weakening position of department stores as distribution channels.Analyst: Chelsey Tam

Belle's FVE Under Review After Profit Warning

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Event-Driven

<ul>
<li>Viva China Holdings is a deep value stock with several key catalysts. Viva China Holdings'10.36% stake in Li Ning (2331 HK) alone is worth 152% of its market cap.</li>
<li>In addition, Viva China Holdings is making solid acquisitions in the global footwear/apparel sector such as Clarks, which is one of the most well known footwear brands in the U.K.</li>
<li>A major ongoing risk factor is the recent major lockdowns in Shanghai and other cities in China, which is intent on pursing a zero COVID policy.</li>
</ul>


Viva China Holdings is a deep value stock with several key catalysts. Viva China Holdings'10.36% stake in Li Ning (2331 HK) alone is worth 152% of its market cap.
In addition, Viva China Holdings is making solid acquisitions in the global footwear/apparel sector such as Clarks, which is one of the most well known footwear brands in the U.K.
A major ongoing risk factor is the recent major lockdowns in Shanghai and other cities in China, which is intent on pursing a zero COVID policy.


Viva China: M&A of Global Footwear Brands at Discount & Its Stake in Li Ning Is More than Market Cap

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 Meituan, Tencent, CNOOC, and Li Ning. </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 Meituan, Tencent, CNOOC, and Li Ning. 


Hong Kong Connect Flows: Meituan, Tencent, CNOOC, Li Ning

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)

Belle's FVE Under Review After Profit Warning

Belle International is China’s leading brick-and-mortar footwear and sportswear retailer, with 20,557 stores as of February 2015. Belle expects...

Morningstar, Inc.

Viva China: M&A of Global Footwear Brands at Discount & Its Stake in Li Ning Is More than Market Cap

Viva China Holdings is a deep value stock with several key catalysts. Viva China Holdings'10.36% stake in Li Ning (2331 HK) alone is worth 152% of...

Douglas Kim

Hong Kong Connect Flows: Meituan, Tencent, CNOOC, Li Ning

We highlight southbound HK Connect inflows into Meituan (3690 HK), Tencent (700 HK), Cnooc (883 HK), and Li Ning (2331 HK).

Ke Yan, CFA, FRM

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