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 analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 128.5% as of Jan 26th.</li>
<li>The average A-H premium changed by -0.6ppt week-on-week, led by energy, industrials, health care and offset by real estate, communication services, information technology.</li>
<li>We highlight weekly changes in A-H premium for Haier Smart Home, China Tourism, Conch Cement, Tsingtao Brew, Gwmotor, China Energy Engineering, Tianqi Lithium Corporation.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 128.5% as of Jan 26th.
The average A-H premium changed by -0.6ppt week-on-week, led by energy, industrials, health care and offset by real estate, communication services, information technology.
We highlight weekly changes in A-H premium for Haier Smart Home, China Tourism, Conch Cement, Tsingtao Brew, Gwmotor, China Energy Engineering, Tianqi Lithium Corporation.


A-H Premium Weekly (Jan 26th): Haier Smart, China Tourism, Conch Cement, Tsingtao Brew, GWM

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

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

Equity Bottom-Up

<ul>
<li>US-Led tech chain may push for AI phone features, which itself is a great strategy to pull the tech industry out of doldrums. It will pressure Huawei, in our opinion;</li>
<li>We believe there are other stories unfolding in the AI era, including availability of AI killer apps, the rivalry between super apps and OS vendors, and the growing China/Ex-China chasm.</li>
<li>Our Top Pick is Tencent and Kuaishou. We maintain Xiaomi at SELL.</li>
</ul>


US-Led tech chain may push for AI phone features, which itself is a great strategy to pull the tech industry out of doldrums. It will pressure Huawei, in our opinion;
We believe there are other stories unfolding in the AI era, including availability of AI killer apps, the rivalry between super apps and OS vendors, and the growing China/Ex-China chasm.
Our Top Pick is Tencent and Kuaishou. We maintain Xiaomi at SELL.


[Blue Lotus Hardware Sector Update]: What Does AI Phone Bring to the Tech Competition?

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Hisense Home Appliances Group Co., Ltd. H / Event-Driven

Hisense Home Appliances Group Co., Ltd. H

<ul>
<li>An ugly week for HK stocks but SOUTHBOUND flows showed decent net buying at HK$14.7bn on the week. High-Div SOEs continue to be in favour.</li>
<li>What appears to have been strong net selling on the mainland combined with CBBC unwinds in Hong Kong related to mainland-linked stocks caused HK to have a baaaaad week.</li>
<li>The separately published AH Monitor highlights a Really Tough Week. Hs got KILLED vs their A-share counterparts as CBBCs sold the HK names and National Team bought A-shares.</li>
</ul>


An ugly week for HK stocks but SOUTHBOUND flows showed decent net buying at HK$14.7bn on the week. High-Div SOEs continue to be in favour.
What appears to have been strong net selling on the mainland combined with CBBC unwinds in Hong Kong related to mainland-linked stocks caused HK to have a baaaaad week.
The separately published AH Monitor highlights a Really Tough Week. Hs got KILLED vs their A-share counterparts as CBBCs sold the HK names and National Team bought A-shares.


HK Connect SOUTHBOUND Flows (To 19 Jan 2024); High Div SOEs Again BIG Buys as CBBC Hedging Hurts

<ul>
<li>We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 129.2% as of Jan 19th.</li>
<li>The average A-H premium changed by 7.1ppt week-on-week, led by financials, materials, health care and offset by information technology.</li>
<li>We highlight weekly changes in A-H premium for Haier Smart H, ICBC, China Vanke, ZTE, China Rail Gr, China Com Cons, SMIC, China Longyuan.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 129.2% as of Jan 19th.
The average A-H premium changed by 7.1ppt week-on-week, led by financials, materials, health care and offset by information technology.
We highlight weekly changes in A-H premium for Haier Smart H, ICBC, China Vanke, ZTE, China Rail Gr, China Com Cons, SMIC, China Longyuan.


A-H Premium Weekly (Jan 19th): Haier Smart, ICBC, China Vanke, ZTE, CR Group, CCCC

<ul>
<li>SOUTHBOUND flows showing momentum tendencies this past week on a single-stock basis, still. </li>
<li>SOUTHBOUND saw HK$6.8bn of net OUT-flows in the week to 12 Jan 2024. Total flows were HK$118bn.</li>
<li>SOUTHBOUND saw large net selling of ETFs (unwinding Week 1) and large net buying of high-div SOEs like CNOOC, China Mobile/Telecom/Unicom, and coal names.</li>
</ul>


SOUTHBOUND flows showing momentum tendencies this past week on a single-stock basis, still. 
SOUTHBOUND saw HK$6.8bn of net OUT-flows in the week to 12 Jan 2024. Total flows were HK$118bn.
SOUTHBOUND saw large net selling of ETFs (unwinding Week 1) and large net buying of high-div SOEs like CNOOC, China Mobile/Telecom/Unicom, and coal names.


HK Connect SOUTHBOUND Flows (To 12 Jan 2024); High Div SOEs Still the Biggest Buys

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)

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

Semiconductor Manufacturing International Corp (SMIC) (981 HK)

A-H Premium Weekly (Jan 26th): Haier Smart, China Tourism, Conch Cement, Tsingtao Brew, GWM

We highlight weekly changes in A-H premium for Haier Smart Home, China Tourism, Conch Cement, Tsingtao Brew, Gwmotor, China Energy Engineering,...

Ke Yan, CFA, FRM

[Blue Lotus Hardware Sector Update]: What Does AI Phone Bring to the Tech Competition?

US-led tech chain may drive AI phone features, boosting the industry and pressuring Huawei. Other AI trends include killer apps, super app...

Blue Lotus Research Institute

HK Connect SOUTHBOUND Flows (To 19 Jan 2024); High Div SOEs Again BIG Buys as CBBC Hedging Hurts

HK Southbound Connect saw large net buying by mainland investors. ETFs did not play a major role in net flows. Tencent did. High-div SOEs were...

Travis Lundy

A-H Premium Weekly (Jan 19th): Haier Smart, ICBC, China Vanke, ZTE, CR Group, CCCC

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Haier Smart H, ICBC, China Vanke, ZTE, China Rail Gr, China...

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (To 12 Jan 2024); High Div SOEs Still the Biggest Buys

SOUTHBOUND saw large net buying of High-Div SOEs. Again. Many weeks in a row now and in terms of % of volume, the mobile phone cos rank high. ETFs...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

A-H Premium Weekly (Jan 26th): Haier Smart, China Tourism, Conch Cement, Tsingtao Brew, GWM

We highlight weekly changes in A-H premium for Haier Smart Home, China Tourism, Conch Cement, Tsingtao Brew, Gwmotor, China Energy Engineering,...

Ke Yan, CFA, FRM

[Blue Lotus Hardware Sector Update]: What Does AI Phone Bring to the Tech Competition?

​US-led tech chain may drive AI phone features, boosting the industry and pressuring Huawei. Other AI trends include killer apps, super app...

Blue Lotus Research Institute

HK Connect SOUTHBOUND Flows (To 19 Jan 2024); High Div SOEs Again BIG Buys as CBBC Hedging Hurts

HK Southbound Connect saw large net buying by mainland investors. ETFs did not play a major role in net flows. Tencent did. High-div SOEs were...

Travis Lundy

A-H Premium Weekly (Jan 19th): Haier Smart, ICBC, China Vanke, ZTE, CR Group, CCCC

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Haier Smart H, ICBC, China Vanke, ZTE, China Rail Gr, China...

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (To 12 Jan 2024); High Div SOEs Still the Biggest Buys

SOUTHBOUND saw large net buying of High-Div SOEs. Again. Many weeks in a row now and in terms of % of volume, the mobile phone cos rank high. ETFs...

Travis Lundy

US-led tech chain may drive AI phone features, boosting the industry and pressuring Huawei. Other AI trends include killer apps, super app...