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.

Thematic (Sector/Industry)

<ul><li>The Politburo meeting re-emphasized the need for inventory reduction and ensuring project completions.</li><li>The latter saw breakthroughs with a stalled residential project in Nanjing returning down payments to homebuyers.</li><li>This success was enabled by stringent oversight of presale regulatory funds and enhanced legal protection for homebuyers.</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 Politburo meeting re-emphasized the need for inventory reduction and ensuring project completions.The latter saw breakthroughs with a stalled residential project in Nanjing returning down payments to homebuyers.This success was enabled by stringent oversight of presale regulatory funds and enhanced legal protection for homebuyers.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.

Property - Weekly Highlight: Sales Decline May Narrow in Aug

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 Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of May 17th.</li>
<li>We estimate the weekly inflows to be US$1,460.9 million, led by financials, information technology, industrials sectors, and offset by utilities, communication services, energy.</li>
<li>We highlight flows for Luxshare Precision, China Merchants Bank, Midea.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of May 17th.
We estimate the weekly inflows to be US$1,460.9 million, led by financials, information technology, industrials sectors, and offset by utilities, communication services, energy.
We highlight flows for Luxshare Precision, China Merchants Bank, Midea.


Northbound Flows (May 17th): Luxshare Precision, CMB, Midea

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

Cross Asset Strategy

<ul><li>Hydrogen / In Depth: In China, hydrogen’s star rises</li><li>China-Vietnam /: China, Vietnam leaders agree to strengthen ties as Xi makes official visit</li><li>Meeting /: China’s top leadership pledges strong focus on growth next year</li></ul>

Hydrogen / In Depth: In China, hydrogen’s star risesChina-Vietnam /: China, Vietnam leaders agree to strengthen ties as Xi makes official visitMeeting /: China’s top leadership pledges strong focus on growth next year

CX Daily: In China, Hydrogen’s Star Rises 

<ul><li>Investment in Chinese real estate contracted 9.1% in the first nine months of 2023 from a year earlier, official data showed Wednesday, a bigger drop than in the first eight months of the year.</li><li>The decline means developers are spending less buying land and building housing. Construction starts measured by floor area fell 23.4% year-on-year, and total ongoing construction area dropped 7.1%, according to data released by the National Bureau of Statistics (NBS).</li><li>The declines reflect developers’ lack of confidence amid a prolonged crisis in the sector. Property sales by floor area decreased 7.5% in January-September from a year earlier, compared with a 7.1% contraction in the first eight months.</li></ul>

Investment in Chinese real estate contracted 9.1% in the first nine months of 2023 from a year earlier, official data showed Wednesday, a bigger drop than in the first eight months of the year.The decline means developers are spending less buying land and building housing. Construction starts measured by floor area fell 23.4% year-on-year, and total ongoing construction area dropped 7.1%, according to data released by the National Bureau of Statistics (NBS).The declines reflect developers’ lack of confidence amid a prolonged crisis in the sector. Property sales by floor area decreased 7.5% in January-September from a year earlier, compared with a 7.1% contraction in the first eight months.

Investment in Chinese Real Estate Dropped 9.1% in First Three Quarters

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/poly-culture-group-corp-h" target="_blank" data-smartkarma-citation="entities:4729:1" rel="noopener">Poly Culture Group Corp H (3636 HK)</a> H Shareholders’ class meeting is scheduled for 3 November. The IFA considers the HK$8.88 per H share offer fair and reasonable.</li>
<li>The key condition is approval by at least 75% independent H Shareholders (&lt;10% of all independent H Shareholders rejection). No independent H Shareholder holds a blocking stake.</li>
<li>The offer’s 77.6% premium to the undisturbed price and shareholder structure helps the vote. At the current price and for the 23 November payment, the gross/annualised spread is 3.3%/19.2%.</li>
</ul>


The Poly Culture Group Corp H (3636 HK) H Shareholders’ class meeting is scheduled for 3 November. The IFA considers the HK$8.88 per H share offer fair and reasonable.
The key condition is approval by at least 75% independent H Shareholders (&lt;10% of all independent H Shareholders rejection). No independent H Shareholder holds a blocking stake.
The offer’s 77.6% premium to the undisturbed price and shareholder structure helps the vote. At the current price and for the 23 November payment, the gross/annualised spread is 3.3%/19.2%.


Poly Culture (3636 HK): H Share Class Meeting on 3 November

China

Poly Real Estate Group Co., Ltd. mainly develops and sells residential homes. The company is also in the business of leasing and rental of real estates, and property management.

Poly Real Estate Group Co., Ltd (600048 CH)

Price Gauge
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Poly Real Estate Group Co., Ltd (600048 CH)

Property - Weekly Highlight: Sales Decline May Narrow in Aug

The Politburo meeting re-emphasized the need for inventory reduction and ensuring project completions. The latter saw breakthroughs with a stalled...

CMB International

Northbound Flows (May 17th): Luxshare Precision, CMB, Midea

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Luxshare Precision, CMB, Midea.

Ke Yan, CFA, FRM

CX Daily: In China, Hydrogen’s Star Rises

Hydrogen / In Depth: In China, hydrogen’s star rises In the quest for cleaner energy sources, hydrogen’s star is rising. China is just one of a...

Caixin Global

Investment in Chinese Real Estate Dropped 9.1% in First Three Quarters

Investment in Chinese real estate contracted 9.1% in the first nine months of 2023 from a year earlier, official data showed Wednesday, a bigger...

Caixin Global

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Property - Weekly Highlight: Sales Decline May Narrow in Aug

The Politburo meeting re-emphasized the need for inventory reduction and ensuring project completions. The latter saw breakthroughs with a stalled...

CMB International

Northbound Flows (May 17th): Luxshare Precision, CMB, Midea

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Luxshare Precision, CMB, Midea.

Ke Yan, CFA, FRM

CX Daily: In China, Hydrogen’s Star Rises

Hydrogen / In Depth: In China, hydrogen’s star rises In the quest for cleaner energy sources, hydrogen’s star is rising. China is just one of a...

Caixin Global

Investment in Chinese Real Estate Dropped 9.1% in First Three Quarters

Investment in Chinese real estate contracted 9.1% in the first nine months of 2023 from a year earlier, official data showed Wednesday, a bigger...

Caixin Global

Poly Culture (3636 HK): H Share Class Meeting on 3 November

The offer’s 77.6% premium to the undisturbed price and shareholder structure helps the vote. At the current price and for the 23 November payment,...

Arun George