Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

Ping An Healthcare and Technology / Equity Bottom-Up

<ul>
<li>Ping An Healthcare and Technology Company (SEHK:1833) operates an Internet healthcare platform in China (Ping An Good Doctor), which delivers on-demand healthcare. Its mobile platform was launched in April 2015.     </li>
<li>It is one of the leading online healthcare providers in China and has reported strong growth in revenues and gross profit since inception.</li>
<li>The company has been positively impacted by the spread of COVID-19 with more people switching to online healthcare rather than visiting hospitals.</li>
</ul>


Ping An Healthcare and Technology Company (SEHK:1833) operates an Internet healthcare platform in China (Ping An Good Doctor), which delivers on-demand healthcare. Its mobile platform was launched in April 2015.     
It is one of the leading online healthcare providers in China and has reported strong growth in revenues and gross profit since inception.
The company has been positively impacted by the spread of COVID-19 with more people switching to online healthcare rather than visiting hospitals.


Ping An Health (Part 1): A Deep Dive into Online Medical Services Business

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 statistics on top repurchases over one week, one month, one quarter and one year periods ended on Dec 31 based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics, Cspc (1093 HK), Ping An H&amp;T (1833 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics, Ping An H&amp;T, Xiaomi Corporation.</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Dec 31 based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics, Cspc (1093 HK), Ping An H&amp;T (1833 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics, Ping An H&amp;T, Xiaomi Corporation.


Hong Kong Buybacks: Wuxi Biologics Spent HKD2.8bn

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Dec 24 based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics, Ping An H&amp;T, Xinyi Glass.</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics (2269 HK), Ping An H&amp;T, Xiaomi.</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Dec 24 based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics, Ping An H&amp;T, Xinyi Glass.
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics (2269 HK), Ping An H&amp;T, Xiaomi.


Hong Kong Buybacks: Wuxi Biologics Utilized 50% of Repurchase Mandate

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Dec 17 based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics (2269 HK), Ping An H&amp;T (1833 HK), Xiaomi (1810 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics (2269 HK), Xiaomi (1810 HK), Cspc Pharmaceutical (1093 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Dec 17 based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics (2269 HK), Ping An H&amp;T (1833 HK), Xiaomi (1810 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics (2269 HK), Xiaomi (1810 HK), Cspc Pharmaceutical (1093 HK).


Hong Kong Buybacks: Wuxi Biologics Spent HKD700m in a Day

Silver Point

Thomas J. Monaco

Independent Insight Provider

Silver Point is a boutique research firm that focuses on the broader financial services sector, with a particular focus on troubled institutions globally. 

Asia Ex Japan

China Pacific Insurance / Equity Bottom-Up

*Weak 3Q21 Results: China Pacific Insurance (2601.HK) (CPIC) reported 3Q21 results of CNY 5.4 bn, declining CNY 3.4 bn (38.5%) linked quarter. Profitability was hurt by both the Life and P&amp;C units, which declined CNY 3.9 bn (52.4%) and CNY 156 mn (10.6%), respectively, to CNY 3.6 bn and CNY 1.3 bn; and*Troubles Continue In Life: During 3Q21, first year premium (FYP) agent per month declined by 41.0% linked quarter largely due to CPIC relying more on online channels to conduct new sales, and intimating agency distribution remained a challenge.The new CEO of CPIC Life mentioned that a new agency restructure will be implemented beginning January 1, 2022.

*Weak 3Q21 Results: China Pacific Insurance (2601.HK) (CPIC) reported 3Q21 results of CNY 5.4 bn, declining CNY 3.4 bn (38.5%) linked quarter. Profitability was hurt by both the Life and P&amp;C units, which declined CNY 3.9 bn (52.4%) and CNY 156 mn (10.6%), respectively, to CNY 3.6 bn and CNY 1.3 bn; and*Troubles Continue In Life: During 3Q21, first year premium (FYP) agent per month declined by 41.0% linked quarter largely due to CPIC relying more on online channels to conduct new sales, and intimating agency distribution remained a challenge.The new CEO of CPIC Life mentioned that a new agency restructure will be implemented beginning January 1, 2022.

China Pacific Insurance – Life Troubles

China

Ping An Healthcare and Technology Company Limited provides health care software solutions. The Company offers mobile platform for online consultation, hospital referral and appointment, health management, and wellness interaction services, as well as connects consumers and patients with health care resources. Ping An Healthcare and Technology serves customers in China.

Ping An Healthcare and Technology (1833 HK)

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Ping An Healthcare and Technology (1833 HK)

Ping An Health (Part 1): A Deep Dive into Online Medical Services Business

This is the first of a series of reports on Ping An Health and we deep dive into the company's fast-growing segment: Online Medical Services, its...

Shifara Samsudeen, ACMA, CGMA

Hong Kong Buybacks: Wuxi Biologics Spent HKD2.8bn

We highlight the top 3 companies that repurchased the most shares in HK were Wuxi Biologics (2269 HK), Cspc Pharmaceutical (1093 HK), Ping An H&T...

Ke Yan, CFA, FRM

Hong Kong Buybacks: Wuxi Biologics Utilized 50% of Repurchase Mandate

We highlight the top 3 companies that repurchased the most shares in HK were Wuxi Biologics (2269 HK), Ping An H&T (1833 HK), Xinyi Glass (868 HK)...

Ke Yan, CFA, FRM

Hong Kong Buybacks: Wuxi Biologics Spent HKD700m in a Day

We highlight the top 3 companies that repurchased the most shares in HK were Wuxi Biologics (2269 HK), Ping An Healthcare And Technology (1833 HK),...

Ke Yan, CFA, FRM

China Pacific Insurance – Life Troubles

CHINA PACIFIC: CPIC reported a 3Q21 QOQ results decline of 38.5%, driven by both the Life and P&C units. The new CEO of CPIC Life mentioned that a...

Thomas J. Monaco

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52-week Range

Market Cap (USDm)

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