Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

Thematic (Sector/Industry)

<ul>
<li>The Global Emerging Markets weekly provides a summary of the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.</li>
<li>
 Macro data points: Chinese GDP growth, industrial production, retail sales, and house prices.</li>
<li>
 Companies mentioned:<a href="https://www.smartkarma.com/entities/didi-chuxing-inc" target="_blank" data-smartkarma-citation="entities:27467:1" rel="noopener">DiDi Global (DIDI US)</a>, <a href="https://www.smartkarma.com/entities/netease" target="_blank" data-smartkarma-citation="entities:29030:1" rel="noopener">NetEase (9999 HK)</a>, <a href="https://www.smartkarma.com/entities/alibaba-group" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group (9988 HK)</a>, <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a>, <a href="https://www.smartkarma.com/entities/xpeng-inc-4cc65854-d10c-4d20-bf7e-ca0e016715ff" target="_blank" data-smartkarma-citation="entities:33772:1" rel="noopener">XPeng (9868 HK)</a>
</li>
</ul>


The Global Emerging Markets weekly provides a summary of the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.

 Macro data points: Chinese GDP growth, industrial production, retail sales, and house prices.

 Companies mentioned:DiDi Global (DIDI US), NetEase (9999 HK), Alibaba Group (9988 HK), Tencent (700 HK), XPeng (9868 HK)



GEM Weekly (20 Jan 2023): China Macro, House Prices; Didi, NetEase Alibaba, Tencent, Xpeng

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

<ul><li>China’s game licensing regulator green-lit a fresh batch of titles for market for the third time in as many months</li><li>January’s licenses are an upbeat sign from the NPPA, which follows regulatory signals in July that the permit process would be streamlined after years of uncertainty. </li><li>Games must have a license from the regulator before they can enter the market. Typically handed out monthly, licenses were issued just seven times last year after an eight-month freeze that ended in April.</li></ul>

China’s game licensing regulator green-lit a fresh batch of titles for market for the third time in as many monthsJanuary’s licenses are an upbeat sign from the NPPA, which follows regulatory signals in July that the permit process would be streamlined after years of uncertainty. Games must have a license from the regulator before they can enter the market. Typically handed out monthly, licenses were issued just seven times last year after an eight-month freeze that ended in April.

China’s Video Game Regulator Issues Fresh Licenses in Positive Sign for Recovering Industry

Cross Asset Strategy

<ul><li>Lithium / In Depth: Lithium tops out.  </li><li>Davos / ‘China’s door to the outside will only open wider,’ Vice Premier Liu He says. </li><li>FDI / Charts of the Day: China’s FDI growth slowed but ‘steady’ in 2022. </li></ul>

Lithium / In Depth: Lithium tops out.  Davos / ‘China’s door to the outside will only open wider,’ Vice Premier Liu He says. FDI / Charts of the Day: China’s FDI growth slowed but ‘steady’ in 2022. 

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>The NPPA released this year’s first batch of domestic game licenses on 17 January.</li><li>88 new games were approved and 24 legacy games received approval for changes of operation.</li><li>This is the highest number of domestic game license approved since the resumption of license approval in Apr 2022, showing further normalizing trend for game licenses approval. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The NPPA released this year’s first batch of domestic game licenses on 17 January.88 new games were approved and 24 legacy games received approval for changes of operation.This is the highest number of domestic game license approved since the resumption of license approval in Apr 2022, showing further normalizing trend for game licenses approval. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Internet – Game license approval further normalises

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.

Equity Bottom-Up

<ul>
<li>China just announced game approval for January batch. The number of games approved is slightly higher than the previous three months.</li>
<li>Pace of China game approval stays flattish, at a much slower pace than pre-tightening.</li>
<li>Both Tencent and Netease received approval for one game each. Overall Tencent is still behind its peers since the approval resumed.</li>
</ul>


China just announced game approval for January batch. The number of games approved is slightly higher than the previous three months.
Pace of China game approval stays flattish, at a much slower pace than pre-tightening.
Both Tencent and Netease received approval for one game each. Overall Tencent is still behind its peers since the approval resumed.


Tencent/Netease: January Game Approval Shows Tencent Playing Catching Up

China

NetEase, Inc. is an Internet technology company that develops applications, services and other Internet technologies in China. The Company's core businesses consist of email service, web portal and online entertainment, including online gaming services. NetEase also offers online advertising, search, mobile applications and e-commerce.

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NetEase Inc (NTES US)

GEM Weekly (20 Jan 2023): China Macro, House Prices; Didi, NetEase Alibaba, Tencent, Xpeng

The Global Emerging Markets weekly provides a summary of the key news and related developments impacting the largest countries and constituents of...

Wium Malan, CFA

China’s Video Game Regulator Issues Fresh Licenses in Positive Sign for Recovering Industry

China’s game licensing regulator green-lit a fresh batch of titles for market for the third time in as many months. January’s licenses are an...

Caixin Global

CX Daily: Lithium Tops Out

In Depth: Lithium tops out. ‘China’s door to the outside will only open wider,’ Vice Premier Liu He says. Charts of the Day: China’s FDI growth...

Caixin Global

China Internet – Game license approval further normalises

The NPPA released this year’s first batch of domestic game licenses on 17 January. 88 new games were approved and 24 legacy games received approval...

CMB International

Tencent/Netease: January Game Approval Shows Tencent Playing Catching Up

We analyzed the latest domestic game approval in China. Tencent and Netease received approval for one game each. Overall Tencent is still behind...

Ke Yan, CFA, FRM

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