Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Quantitative Analysis

<ul>
<li>This is the brand spanking new Quiddity HK Connect SOUTHBOUND Monitor. We work off the same presentation as the <a href="https://www.smartkarma.com/insights/quiddity-a-h-premium-weekly-sep-8-icbc-abc-ccb-boc-vanke-ncl-rails" target="_blank" rel="noopener">A/H Premium Monitor</a> and Mainland Connect NORTHBOUND Monitor.</li>
<li>The data on liquid names is presented for 5 days and four weeks and anything seen can be ranked in tables or selected and charted (names, sectors, outperformance, etc).</li>
<li>We like the nifty interactive tables and charts. We welcome feedback on how to make it more useful going forward.</li>
</ul>


This is the brand spanking new Quiddity HK Connect SOUTHBOUND Monitor. We work off the same presentation as the A/H Premium Monitor and Mainland Connect NORTHBOUND Monitor.
The data on liquid names is presented for 5 days and four weeks and anything seen can be ranked in tables or selected and charted (names, sectors, outperformance, etc).
We like the nifty interactive tables and charts. We welcome feedback on how to make it more useful going forward.


Quiddity HK Connect SOUTHBOUND Flows (Week to 8Sep23) Banks, Brokers, Telcos, Energy, and Vanke

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.

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 8th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for ICBC, CNOOC, CCB, HKEx, China Petroleum &amp; Chemical.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 8th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for ICBC, CNOOC, CCB, HKEx, China Petroleum &amp; Chemical.


Hong Kong Connect Flows (Sep 8th): ICBC, CNOOC, CCB, HKEx, China Petroleum & Chemical

Event-Driven

<ul>
<li>The Brand-Spanking New (three weeks old) A-H Monitor has tables, charts, measures galore.</li>
<li>New stimulus measures appear to be triggering FOMO on real estate stocks, but a foreshortened week, yet again, makes one wonder. There IS money being applied though.</li>
<li>I expect more measures and more buying. I am not sure I would want to be short any Hs with a deep discount to the A the next few months.</li>
</ul>


The Brand-Spanking New (three weeks old) A-H Monitor has tables, charts, measures galore.
New stimulus measures appear to be triggering FOMO on real estate stocks, but a foreshortened week, yet again, makes one wonder. There IS money being applied though.
I expect more measures and more buying. I am not sure I would want to be short any Hs with a deep discount to the A the next few months.


Quiddity A/H Premium Weekly (Sep 8):  ICBC, ABC, CCB, BOC, Vanke, NCL, Rails

China/Asia TMT

Shawn Yang

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>From what we understand, the Kirin 9000s that powers Huawei’s new 5G phone is the same 9000 that launched in 2020, only refitted from TSMC’s 5nm to SMIC’s 7nm. </li>
<li>The good news is capacity will likely reach 50-60mn a year, or 17% of China’s smartphone volume in 2022;</li>
<li>Huawei’s launch of 5G does speak volumes about the strides China’s semiconductor supply chain has made, but its timing also takes advantage of the defusing of geopolitical tensions.</li>
</ul>


From what we understand, the Kirin 9000s that powers Huawei’s new 5G phone is the same 9000 that launched in 2020, only refitted from TSMC’s 5nm to SMIC’s 7nm. 
The good news is capacity will likely reach 50-60mn a year, or 17% of China’s smartphone volume in 2022;
Huawei’s launch of 5G does speak volumes about the strides China’s semiconductor supply chain has made, but its timing also takes advantage of the defusing of geopolitical tensions.


[Blue Lotus Hardware Sector Update]: Huawei Mate 60 Is a Win-Win for Both US and China

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>Major global semi foundries (TSMC/UMC/VIS/GF/SMIC/HH) reported in-line 2Q23 but mixed 3Q23 outlook on slower demand recovery and ASP/margin pressure.</li><li>Overall, inventory digestion is below expectation in 2Q23 and demand recovery remains weak in 2H23E.</li><li>That said, we believe the worst is behind with global semi sales of -17% YoY in 2Q23, an improvement vs -21% YoY in 1Q23, and we expect sequential sales recovery will continue into 3Q/4Q23E. </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>

Major global semi foundries (TSMC/UMC/VIS/GF/SMIC/HH) reported in-line 2Q23 but mixed 3Q23 outlook on slower demand recovery and ASP/margin pressure.Overall, inventory digestion is below expectation in 2Q23 and demand recovery remains weak in 2H23E.That said, we believe the worst is behind with global semi sales of -17% YoY in 2Q23, an improvement vs -21% YoY in 1Q23, and we expect sequential sales recovery will continue into 3Q/4Q23E. 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 Technology – Global Foundry 2Q23 Wrap: Prolonged Inventory Correction

China

Semiconductor Manufacturing International Corporation operates a semiconductor foundry. The Company provides integrated circuit foundry and technology services including the testing, development, design, manufacturing, packaging, and sale of integrated circuits. Semiconductor Manufacturing International offers its products and services around the world.

Semiconductor Manufacturing International Corp (SMIC) (981 HK)

Semiconductor Manufacturing International Corp (SMIC)

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Semiconductor Manufacturing International Corp (SMIC) (981 HK)

Quiddity HK Connect SOUTHBOUND Flows (Week to 8Sep23) Banks, Brokers, Telcos, Energy, and Vanke

The Brand-Spanking New Quiddity HK Connect SOUTHBOUND Flows Monitor. Tables and Charts of Top 10-30 names/flows, flows and position by sectors, and...

Travis Lundy

Hong Kong Connect Flows (Sep 8th): ICBC, CNOOC, CCB, HKEx, China Petroleum & Chemical

We analyzed the Hong Kong Connect Scheme for last week and highlight flows for ICBC, CNOOC, CCB, HKEx, China Petroleum & Chemical.

Ke Yan, CFA, FRM

Quiddity A/H Premium Weekly (Sep 8): ICBC, ABC, CCB, BOC, Vanke, NCL, Rails

The fourth week of the A/H Monitor and the last three weeks have seen decent returns. Hs outperformed As decently on a short week. Exposure to...

Travis Lundy

[Blue Lotus Hardware Sector Update]: Huawei Mate 60 Is a Win-Win for Both US and China

Huawei’s launch of 5G does speak volumes about the strides China’s semiconductor supply chain has made, but its timing also takes advantage of the...

Blue Lotus Research Institute

China Technology – Global Foundry 2Q23 Wrap: Prolonged Inventory Correction

Major global semi foundries (TSMC/UMC/VIS/GF/SMIC/HH) reported in-line 2Q23 but mixed 3Q23 outlook on slower demand recovery and ASP/margin pressure.

CMB International

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)