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, Financials, Health Care led the inflows while Industrials , Information Technology led the outflows.</li>
<li>We highlight inflows into Wuliangye, Moutai, Ping An Insurance, China Tourism, Shenzhen Mindray,  and outflows from Yunnan Energy New Material, BJ-SH HSR, Nari Technology, Goertek.</li>
</ul>


We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.
Consumer Staples, Financials, Health Care led the inflows while Industrials , Information Technology led the outflows.
We highlight inflows into Wuliangye, Moutai, Ping An Insurance, China Tourism, Shenzhen Mindray,  and outflows from Yunnan Energy New Material, BJ-SH HSR, Nari Technology, Goertek.


Northbound Flows Monthly: $4.6bn of Inflows

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of December 16th.</li>
<li>We estimate the weekly inflows to be US$101.5 million, led by financials, consumer staples, communication services sectors, and offset by industrials, materials.</li>
<li>We highlight flows for China Merchants Bank, Shanghai Intl Airport, Tongwei.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of December 16th.
We estimate the weekly inflows to be US$101.5 million, led by financials, consumer staples, communication services sectors, and offset by industrials, materials.
We highlight flows for China Merchants Bank, Shanghai Intl Airport, Tongwei.


Northbound Flows (Dec 16th): CMB, Shanghai Intl Airport, Tongwei

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of December 9th.</li>
<li>We estimate the weekly inflows to be US$1,068.5 million, led by consumer staples, consumer discretionary, health care sectors, and offset by information technology, industrials.</li>
<li>We highlight flows for  Midea, Wuliangye, Shenzhen Mindray, CATL, BYD, Yunnan Energy New Material, BJ-SH High Speed Rail, Goertek, Goodwe, Nari.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of December 9th.
We estimate the weekly inflows to be US$1,068.5 million, led by consumer staples, consumer discretionary, health care sectors, and offset by information technology, industrials.
We highlight flows for  Midea, Wuliangye, Shenzhen Mindray, CATL, BYD, Yunnan Energy New Material, BJ-SH High Speed Rail, Goertek, Goodwe, Nari.


Northbound Flows (Dec 9th): Midea, Wuliangye, Shenzhen Mindray, CATL, BYD

<ul>
<li>We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>Monthly inflows of $9bn was led by Financials (inflows of $2,658 million), Materials (inflows of $2,286 million), Consumer Discretionary (inflows of $1,779 million). </li>
<li>We highlight inflows into Midea, Zijin Mining, Ping An Insurance, Moutai, Mindray, and outflows from Yangtze Power, Yunnan Energy New Material, Poly Developments, Wingtec, Shenhua.</li>
</ul>


We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.
Monthly inflows of $9bn was led by Financials (inflows of $2,658 million), Materials (inflows of $2,286 million), Consumer Discretionary (inflows of $1,779 million). 
We highlight inflows into Midea, Zijin Mining, Ping An Insurance, Moutai, Mindray, and outflows from Yangtze Power, Yunnan Energy New Material, Poly Developments, Wingtec, Shenhua.


Northbound Flows Monthly: $9bn Inflows in November

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

Zhejiang Longsheng Group Co., / Event-Driven

<ul>
<li>There are 50 changes a side for the CSI 500 Index at the upcoming rebalance that will be implemented at the close of trading on 9 December.</li>
<li>One-Way turnover at the rebalance is estimated at 12.64% leading to a one-way trade of CNY 9.3bn. The Materials, Information Technology and Consumer Discretionary sectors are net gainers.</li>
<li>9 adds to the CSI 500 Index are deletes from the CSI 300 Index while 7 deletes from the CSI 500 Index are adds to the CSI 300 Index.</li>
</ul>


There are 50 changes a side for the CSI 500 Index at the upcoming rebalance that will be implemented at the close of trading on 9 December.
One-Way turnover at the rebalance is estimated at 12.64% leading to a one-way trade of CNY 9.3bn. The Materials, Information Technology and Consumer Discretionary sectors are net gainers.
9 adds to the CSI 500 Index are deletes from the CSI 300 Index while 7 deletes from the CSI 500 Index are adds to the CSI 300 Index.


CSI 500 Index Rebalance: 50 Changes a Side Leads to 12%+ One-Way Turnover

China

Pylon Technologies Co., Ltd. researches, develops, manufactures, and distributes energy storage systems. The Company provides cathode materials, lithium cells, battery management system and system integration, and more. Pylon Technologies markets its products across worldwide.

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Pylon Technologies (688063 CH)

Northbound Flows Monthly: $4.6bn of Inflows

We analyzed the Shanghai/Shenzhen Connect Scheme for December and highlight flows for Wuliangye, Moutai, Ping An Insurance, China Tourism, Shenzhen...

Ke Yan, CFA, FRM

Northbound Flows (Dec 16th): CMB, Shanghai Intl Airport, Tongwei

We analyzed the Shanghai/Shenzhen Connect Scheme for last week and highlight flows for CMB, Shanghai Intl Airport, Tongwei.

Ke Yan, CFA, FRM

Northbound Flows (Dec 9th): Midea, Wuliangye, Shenzhen Mindray, CATL, BYD

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Midea, Wuliangye, Shenzhen Mindray, CATL, BYD.

Ke Yan, CFA, FRM

Northbound Flows Monthly: $9bn Inflows in November

We analyzed the Shanghai/Shenzhen Connect Scheme for November and highlight flows for Midea, Zijin Mining, Ping An Insurance, Moutai, Mindray,...

Ke Yan, CFA, FRM

CSI 500 Index Rebalance: 50 Changes a Side Leads to 12%+ One-Way Turnover

There are 50 adds/deletes for the index in Dec. One-way turnover is 12.6% leading to a one-way trade of CNY 9bn. There are 16 overlaps between the...

Brian Freitas

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