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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/fenbi-ltd" target="_blank" data-smartkarma-citation="entities:36640:1" rel="noopener">Fenbi Ltd (2469 HK)</a> was added to the Hang Seng Composite Index (HSCI) at the close Friday and will be added to Southbound Stock Connect from open of trading today.</li>
<li>We see 22 potential adds, 19 potential deletes, couple of close deletes, 5 deletes on prolonged suspension and 4 close liquidity deletes for the HSCI in September.</li>
<li>There are 11 potential deletions where holdings via Stock Connect are more than 20% of shares outstanding. There could be some unwinding of positions over the next couple of months.</li>
</ul>



Fenbi Ltd (2469 HK) was added to the Hang Seng Composite Index (HSCI) at the close Friday and will be added to Southbound Stock Connect from open of trading today.
We see 22 potential adds, 19 potential deletes, couple of close deletes, 5 deletes on prolonged suspension and 4 close liquidity deletes for the HSCI in September.
There are 11 potential deletions where holdings via Stock Connect are more than 20% of shares outstanding. There could be some unwinding of positions over the next couple of months.


HSCI Index Rebalance Preview and Stock Connect: Potential Changes in September

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

MedSci Healthcare Holdings / Equity Capital Markets

<ul>
<li>MedSci's profit quality/business structure is “healthier” than Medlive. MedSci is better able to cope with the negative impact of external changes, and its performance growth is more resilient than Medlive.</li>
<li>MedSci’s physician platform solutions business is stronger than Medlive’s medical knowledge solutions business. Considering the logic and significance of this business, MedSci is expected to have bigger growth potential.</li>
<li>If considering the cash balance, MedSci’s IPO valuation seems not that cheap. However, we think MedSci's valuation would narrow the gap with Medlive or even surpass it in the future.</li>
</ul>


MedSci's profit quality/business structure is “healthier” than Medlive. MedSci is better able to cope with the negative impact of external changes, and its performance growth is more resilient than Medlive.
MedSci’s physician platform solutions business is stronger than Medlive’s medical knowledge solutions business. Considering the logic and significance of this business, MedSci is expected to have bigger growth potential.
If considering the cash balance, MedSci’s IPO valuation seems not that cheap. However, we think MedSci's valuation would narrow the gap with Medlive or even surpass it in the future.


Pre IPO MedSci Healthcare Holdings - Some Points Worth the Attention

<ul>
<li>The large physician network is actually the cornerstone for <a href="https://www.smartkarma.com/entities/medsci-healthcare-holdings-limited" target="_blank" data-smartkarma-citation="entities:35939:1" rel="noopener">MedSci Healthcare (MHH HK)</a>’s precision omni-channel marketing solutions and RWS solutions, and also the key to support the overall investment logic.</li>
<li>In fierce competition, how to retain physician network for a long time, convert them into business value continuously and achieve the high growth trend expected by the market is challenging.</li>
<li>In terms of valuation, MedSci’s valuation could be higher than Medlive due to its stronger physician platform solutions business and medical professional network, but could be lower than HUAYIWANG. </li>
</ul>


The large physician network is actually the cornerstone for MedSci Healthcare (MHH HK)’s precision omni-channel marketing solutions and RWS solutions, and also the key to support the overall investment logic.
In fierce competition, how to retain physician network for a long time, convert them into business value continuously and achieve the high growth trend expected by the market is challenging.
In terms of valuation, MedSci’s valuation could be higher than Medlive due to its stronger physician platform solutions business and medical professional network, but could be lower than HUAYIWANG. 


Pre-IPO MedSci Healthcare Holdings - The Investment Logic, the Business Analysis and the Risks

Hong Kong

Wenzhou Kangning Hospital Co., Limited is a psychiatric healthcare group. The Company operate and manage a network of healthcare facilities across various regions in China.

Hospital Corp of China Ltd. is a hospital operation and management group. The Company consolidate medical resources to provide medical services and treatment of diseases.

UMP Healthcare Holdings Ltd. offers healthcare solutions provider. The Company provides services for medical and dental needs. UMP serves both contract and plan customers.

Arts Optical International Holdings Limited, through its subsidiaries, designs, manufactures, and sells optical products.

Bamboos Health Care Holdings provides healthcare staffing solutions. The Company offers customizable temporary staffing services to individuals and institutions.

Hang Chi Holdings Limited operates as a holding company. The Company, through its subsidiaries, provides medical care, rehabilitation, recreational activities arrangement, and other services. Hang Chi Holdings serves elders having lack of self-care abilities. Hang Chi Holdings offers its services in Hong Kong.

Yunnan Energy International Co. Limited engages in distribution and related repair and maintenance services for analytical instruments and life science equipment. The Company provides chromatographs, spectrophotometers, electronic microscopes, life science and general laboratory instruments, and more. Yunnan Energy International conducts business in China.

Medicskin Holdings Ltd is a medical skin care group that operates in Hong Kong. The company provides skin care services and treatments of skin diseases for their clients.

Town Health International Medical Group Limited, through its subsidiaries, provides management services to medical and dental practitioners and licenses the Town Health Centre name.  The Company also provides healthcare and related services including general dental consultation services, paramedical services, operates health portals, and distributes health food products.

Zhongzhi Pharmaceutical Holdings Ltd is a pharmaceutical company that develops various drugs.  The Company focuses on developing new Chinese medicine and herbal medicines.

CogState Limited manufactures and distributes diagnostic and therapeutic products associated with neurological disorders and the measurement of cognitive functions.

Medical Data Vision Co.,Ltd. was founded in 2003. The company's line of business includes developing integrated medical information systems, analysis of medical information, and business consulting for medical institutions.

INFINITT Healthcare Co., Ltd. develops and markets PACS(Picture Archiving and Communication System). Picture Archiving and Communication System is medical imaging and information solution.

Oneview Healthcare Public Limited Company provides healthcare information, analysis, and management services. The Company offers patient engagement and clinical workflow technology solutions to healthcare facilities. Oneview Healthcare conducts its business globally.

UBCare Co., Ltd. develops and provides medical-related solutions, such as electronic medical record systems and pharmaceutical E-commerce solutions. The Company, through its website, also offers medical and healthcare information and consultations.

Computer Programs and Systems, Inc., is a healthcare information technology company that designs, develops, markets, installs and supports computerized information technology systems to hospitals.  The Company also provides software and hardware products.

BIT Computer Co., Ltd., a system information company, develops, distributes, and consults hospital-use medical information systems.  The Company's products include hospital management, medical image archiving, and patient information management systems.  BIT Computer also provides information technology education as well as Internet services.

CE Holdings Co Ltd develops and sells packaged medical information software for hospital uses.  The Company also develops software upon clients' request.  CSI sells system equipment and provides consulting services.

Findex Inc plans, develops and maintains software products specialized in healthcare.  The Company also builds and provides medical net-work system for medical industry.

DATA HORIZON CO., LTD. provides billing data services for welfare and medical organizations. The Company also provides consultation services on public health.

MedSci Healthcare Holdings Limited operates as an online professional physician platform. The Company provides physician platform solutions, precision omni channel marketing solutions, remote work station solutions, and others. MedSci Healthcare Holdings provides its services throughout Hong Kong.

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MedSci Healthcare Holdings (2415 HK)

HSCI Index Rebalance Preview and Stock Connect: Potential Changes in September

A month out from review cutoff, there are 22 potential adds and 19 potential deletes for the HSCI in Sep. Most stocks will then be added to or...

Brian Freitas

Pre IPO MedSci Healthcare Holdings - Some Points Worth the Attention

MedSci has stronger cornerstone business, better business structure than Medlive,with bigger potential. Its valuation could surpass Medlive,...

Xinyao (Criss) Wang

Pre-IPO MedSci Healthcare Holdings - The Investment Logic, the Business Analysis and the Risks

The physician network is the cornerstone for MedSci’s business model/logic. How to retain physicians for a long time, convert them into business...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)