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 monthly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>Consumer Staples ($962 million worth of outflows), Consumer Discretionary ($561 million worth of outflows) led the outflows (first chart below).</li>
<li>We highlight monthly outflows for CATL, Zhongji, Moutai, Wuliangye, Mindray.</li>
</ul>


We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.
Consumer Staples ($962 million worth of outflows), Consumer Discretionary ($561 million worth of outflows) led the outflows (first chart below).
We highlight monthly outflows for CATL, Zhongji, Moutai, Wuliangye, Mindray.


Northbound Flows (July): Two Months of Outflows

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of July 26th.</li>
<li>We estimate the weekly outflows to be US$1,578.2 million, led by consumer staples, information technology, financials, and offset by consumer discretionary, health care, utilities.</li>
<li>We highlight flows for Zijin Mining, Moutai, CATL, Zhongji Innolight, Wuliangye, Boe Technology.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of July 26th.
We estimate the weekly outflows to be US$1,578.2 million, led by consumer staples, information technology, financials, and offset by consumer discretionary, health care, utilities.
We highlight flows for Zijin Mining, Moutai, CATL, Zhongji Innolight, Wuliangye, Boe Technology.


Northbound Flows (Jul 26th): Zijin Mining, Moutai, Zhongji Innolight, Wuliangye, Boe Technology

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Cambricon Technologies  Lt / Event-Driven

<ul>
<li><em>The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.</em></li>
<li>Last week saw NORTHBOUND net SELL RMB +19.3bn of A-shares. NORTHBOUND sold everything. Consumer, Finance, and Energy hit hardest.</li>
<li>Net flows as a percentage of value traded are clearly "short gamma", but the net buys this week were of stocks previously a net sell. </li>
</ul>


The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.
Last week saw NORTHBOUND net SELL RMB +19.3bn of A-shares. NORTHBOUND sold everything. Consumer, Finance, and Energy hit hardest.
Net flows as a percentage of value traded are clearly "short gamma", but the net buys this week were of stocks previously a net sell. 


Mainland Connect NORTHBOUND Flows (To 19 July 2024): A Big Broad Sell in Third Plenum Week

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of July 19th.</li>
<li>We estimate the weekly outflows to be US$2,388.5 million, led by consumer discretionary, industrials, financials.</li>
<li>We highlight flows for Midea (000333 CH), Zhongji Innolight (300308 CH), Mindray (300760 CH).</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of July 19th.
We estimate the weekly outflows to be US$2,388.5 million, led by consumer discretionary, industrials, financials.
We highlight flows for Midea (000333 CH), Zhongji Innolight (300308 CH), Mindray (300760 CH).


Northbound Flows (Jul 19th): Midea, Zhongji Innolight, Mindray

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of July 12th.</li>
<li>We estimate the weekly inflows to be US$2,168.8 million, led by financials, information technology, utilities sectors, and offset by health care, communication services, energy.</li>
<li>We highlight flows for Moutai, Yangtze Power, Ping An Insurance, Cosco Shipping, CNNP.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of July 12th.
We estimate the weekly inflows to be US$2,168.8 million, led by financials, information technology, utilities sectors, and offset by health care, communication services, energy.
We highlight flows for Moutai, Yangtze Power, Ping An Insurance, Cosco Shipping, CNNP.


Northbound Flows (Jul 12th): Moutai, Yangtze Power, Ping An Insurance, Cosco Shipping, CNNP

China

Montage Technology Co., Ltd. manufactures electronic components. The Company produces memory interface chips, consumer electronics cores, and other products. Montage Technology supplies its products in memory, server, cloud computing, and other fields.

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Montage Technology (688008 CH)

Northbound Flows (July): Two Months of Outflows

We analyzed the Shanghai/Shenzhen Connect Scheme for July and highlight outflows for CATL, Zhongji, Moutai, Wuliangye, Mindray.

Ke Yan, CFA, FRM

Northbound Flows (Jul 26th): Zijin Mining, Moutai, Zhongji Innolight, Wuliangye, Boe Technology

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Zijin Mining, Moutai, CATL, Zhongji Innolight,...

Ke Yan, CFA, FRM

Mainland Connect NORTHBOUND Flows (To 19 July 2024): A Big Broad Sell in Third Plenum Week

NORTHBOUND's net buy the previous week was a one-off perhaps. This week saw heavy net selling across the board. Not index-weighted.

Travis Lundy

Northbound Flows (Jul 19th): Midea, Zhongji Innolight, Mindray

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Midea, Zhongji Innolight, Mindray.

Ke Yan, CFA, FRM

Northbound Flows (Jul 12th): Moutai, Yangtze Power, Ping An Insurance, Cosco Shipping, CNNP

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Moutai, Yangtze Power, Ping An Insurance, Cosco...

Ke Yan, CFA, FRM

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52-week Range

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