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>According to the preliminary data from CME, China’s excavator sales dropped 26% YoY to ~13.2k units.</li><li>Sales in China remained weak with an estimated 49% YoY decline to 4.7k units in Jul, which is not a surprise given the lack of powerful stimulus policies.</li><li>Export, which had been strong since 2020, however, starts to see a loss of momentum. Export volume is expected to drop 2% YoY to 8.5k units in Jul, according to CME. </li></ul><p><em>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.</em></p>

According to the preliminary data from CME, China’s excavator sales dropped 26% YoY to ~13.2k units.Sales in China remained weak with an estimated 49% YoY decline to 4.7k units in Jul, which is not a surprise given the lack of powerful stimulus policies.Export, which had been strong since 2020, however, starts to see a loss of momentum. Export volume is expected to drop 2% YoY to 8.5k units in Jul, according to CME. 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 Construction Machinery – Export of Excavator Running Out of Steam

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 July 21st.</li>
<li>We estimate the weekly outflows to be US$1,012.2 million, led by information technology, financials, and offset by consumer discretionary, communication services, real estate.</li>
<li>We highlight flows for ZTE, Moutai, Zhongji Innolight, Longi Green, CATL.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of July 21st.
We estimate the weekly outflows to be US$1,012.2 million, led by information technology, financials, and offset by consumer discretionary, communication services, real estate.
We highlight flows for ZTE, Moutai, Zhongji Innolight, Longi Green, CATL.


Northbound Flows (Jul 21st): ZTE, Moutai, Zhongji Innolight, Longi Green, CATL

<ul>
<li>We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>Industrials, Consumer Discretionary, Information Technology led the inflows while Consumer Staples, Financials led the outflows.</li>
<li>We highlight flows for Midea, Foxconn, CATL, Wuxi Apptec, Sany Heavy, China Tourism, Longi Green, Ping An, Zijin Mining, Haitian Flavoring.</li>
</ul>


We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.
Industrials, Consumer Discretionary, Information Technology led the inflows while Consumer Staples, Financials led the outflows.
We highlight flows for Midea, Foxconn, CATL, Wuxi Apptec, Sany Heavy, China Tourism, Longi Green, Ping An, Zijin Mining, Haitian Flavoring.


Northbound Flows Monthly (June): Midea, Foxconn, CATL, Wuxi Apptec, Sany Heavy

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of June 23rd.</li>
<li>We estimate the weekly inflows to be US$43.7 million, led by industrials, information technology, communication services sectors, and offset by materials, financials.</li>
<li>We estimate the inflows to be USD 43 mil last week and highlight flows for China Cssc, Dahua.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of June 23rd.
We estimate the weekly inflows to be US$43.7 million, led by industrials, information technology, communication services sectors, and offset by materials, financials.
We estimate the inflows to be USD 43 mil last week and highlight flows for China Cssc, Dahua.


Northbound Flows (Jun 23rd): China Cssc, Dahua

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of June 16th.</li>
<li>We estimate the weekly inflows to be US$2,312.7 million, led by industrials, information technology, consumer discretionary sectors, and offset by financials, materials.</li>
<li>We highlight flows for CATL, Wuliangye, Moutai, Foxconn Industrial Internet, Midea, BYD, Sany Heavy, Luxshare Precision, Wuxi Apptec, Gree Electric Appliances, Longi Green, Ping An Insurance, Dahua.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of June 16th.
We estimate the weekly inflows to be US$2,312.7 million, led by industrials, information technology, consumer discretionary sectors, and offset by financials, materials.
We highlight flows for CATL, Wuliangye, Moutai, Foxconn Industrial Internet, Midea, BYD, Sany Heavy, Luxshare Precision, Wuxi Apptec, Gree Electric Appliances, Longi Green, Ping An Insurance, Dahua.


Northbound Flows (Jun 16th): CATL, Wuliangye, Moutai, Foxconn Industrial Internet, Midea, Gree

China

SANY Heavy Industry Co., Ltd manufactures and markets construction and engineering machinery and related parts. The Company produces and sells concrete pumps, concrete pump vehicles, road rollers, pavers, and other related products. Sany Heavy Industry markets its products worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Sany Heavy Industry (600031 CH)

China Construction Machinery – Export of Excavator Running Out of Steam

Sales in China remained weak with an estimated 49% YoY decline to 4.7k units in Jul, which is not a surprise given the lack of powerful stimulus...

CMB International

Northbound Flows (Jul 21st): ZTE, Moutai, Zhongji Innolight, Longi Green, CATL

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

Ke Yan, CFA, FRM

Northbound Flows Monthly (June): Midea, Foxconn, CATL, Wuxi Apptec, Sany Heavy

We analyzed the Shanghai/Shenzhen Connect Scheme for June and highlight flows for Midea, Foxconn, CATL, Wuxi Apptec, Sany Heavy, China Tourism,...

Ke Yan, CFA, FRM

Northbound Flows (Jun 23rd): China Cssc, Dahua

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for China Cssc Holding, Zhejiang Dahua.

Ke Yan, CFA, FRM

Northbound Flows (Jun 16th): CATL, Wuliangye, Moutai, Foxconn Industrial Internet, Midea, Gree

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for CATL, Wuliangye, Moutai, Foxconn Industrial...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)