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 statistics on top repurchases over one week, one month, one quarter and one year periods ended on Nov 25th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Aia (1299 HK), Great Wall Motor (2333 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Tencent (700 HK), China Petroleum &amp; Chemical (386 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Nov 25th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Aia (1299 HK), Great Wall Motor (2333 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Tencent (700 HK), China Petroleum &amp; Chemical (386 HK).


Hong Kong Buybacks Weekly (Nov 25th): Tencent, AIA, Great Wall Motor

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>In Depth: Cosco alters course in the face of shipping headwinds.</li><li>China plans to put nuclear-powered base on the moon by 2028.</li><li>China’s ‘Big Six’ state banks offer developers $130 billion in credit lines.</li></ul>

In Depth: Cosco alters course in the face of shipping headwinds.China plans to put nuclear-powered base on the moon by 2028.China’s ‘Big Six’ state banks offer developers $130 billion in credit lines.

CX Daily: Cosco Alters Course in the Face of Shipping Headwinds

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Days after the <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> announcement about its planned distribution of the bulk of the <a href="https://www.smartkarma.com/entities/meituan-dianping" target="_blank" data-smartkarma-citation="entities:26970:1" rel="noopener">Meituan (3690 HK)</a> shares it owns, the Hang Seng Index team <a href="https://www.hsi.com.hk/static/uploads/contents/en/news/indexChgNotice/20221122T000000.pdf" target="_blank" rel="noopener">clarified</a> index treatment.</li>
<li>It will be treated in HS Indices as a "listed non-cash distribution" for Tencent. There is theoretically wiggle room on the Meituan side, but it appears it will follow JD.com.</li>
<li>That means Meituan selling on 4 January at the close, limbo for two months, then Meituan buying. Full model below.</li>
</ul>


Days after the Tencent (700 HK) announcement about its planned distribution of the bulk of the Meituan (3690 HK) shares it owns, the Hang Seng Index team clarified index treatment.
It will be treated in HS Indices as a "listed non-cash distribution" for Tencent. There is theoretically wiggle room on the Meituan side, but it appears it will follow JD.com.
That means Meituan selling on 4 January at the close, limbo for two months, then Meituan buying. Full model below.


Meituan Index Flows Clarifications on the Tencent Distribution; Prosus Comments on Its Holdings

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

Weilong Delicious Global Holdi / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/weilong-delicious-global-holdings-ltd" target="_blank" data-smartkarma-citation="entities:33378:1" rel="noopener">Weilong Delicious Global (WDG HK)</a>, a spicy snack food company in China, aims to raise around US$200m in its Hong Kong IPO.</li>
<li>According to F&amp;S, WDG ranked first among spicy snack food enterprises in China, with a market share of 6.2%, and in the seasoned flour product and spicy vegetable snacks categories.</li>
<li>In this note, we will talk about the updates from the recently re-refiled PHIP.</li>
</ul>



Weilong Delicious Global (WDG HK), a spicy snack food company in China, aims to raise around US$200m in its Hong Kong IPO.
According to F&amp;S, WDG ranked first among spicy snack food enterprises in China, with a market share of 6.2%, and in the seasoned flour product and spicy vegetable snacks categories.
In this note, we will talk about the updates from the recently re-refiled PHIP.


Weilong Delicious Global Pre-IPO - Latest PHIP Updates - No Growth

Thematic (Sector/Industry)

<ul><li>China is revising a law to make illegal certain notorious practices by large internet platforms such as Alibaba, Tencent and JD.com.</li><li>The move is another regulatory response to big tech companies’ use of market dominance and advanced technology to undermine competition.</li><li>Notable changes in the latest revision are mostly related to the digital economy, adding violations and toughening penalties.</li></ul>

China is revising a law to make illegal certain notorious practices by large internet platforms such as Alibaba, Tencent and JD.com.The move is another regulatory response to big tech companies’ use of market dominance and advanced technology to undermine competition.Notable changes in the latest revision are mostly related to the digital economy, adding violations and toughening penalties.

China Proposes Tougher Restrictions on Unfair Digital Competition

China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

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Tencent Holdings (ADR) (TCEHY US)

Hong Kong Buybacks Weekly (Nov 25th): Tencent, AIA, Great Wall Motor

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

CX Daily: Cosco Alters Course in the Face of Shipping Headwinds

In Depth: Cosco alters course in the face of shipping headwinds. China plans to put nuclear-powered base on the moon by 2028.

Caixin Global

Meituan Index Flows Clarifications on the Tencent Distribution; Prosus Comments on Its Holdings

Hang Seng released its treatment of Tencent's Meituan share distribution. Same as JD.com. This is a brief walk-through explanation for non-index...

Travis Lundy

Weilong Delicious Global Pre-IPO - Latest PHIP Updates - No Growth

Weilong Delicious Global (WDG HK), a spicy snack food company in China, aims to raise around US$200m in its Hong Kong IPO.

Sumeet Singh

China Proposes Tougher Restrictions on Unfair Digital Competition

China is revising a law to make illegal certain notorious practices by large internet platforms such as Alibaba, Tencent and JD.com.

Caixin Global

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)