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.</li>
<li>Inflows into consumer staple were offset by the outflows from materials.</li>
<li>We highlight inflows into Moutai, East Money, Gree, Wuxi Apptec, and Tongwei.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine.
Inflows into consumer staple were offset by the outflows from materials.
We highlight inflows into Moutai, East Money, Gree, Wuxi Apptec, and Tongwei.


Northbound Flows: Moutai, East Money, Gree, Wuxi Apptec, Tongwei

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.</li>
<li>Overall, net inflow over the past week was ~US$1.7bn, split between Shanghai (+US$1.8bn) and Shenzhen (-US$0.1bn).</li>
<li>The largest inflows were into <a href="https://www.smartkarma.com/entities/nari-technology-co-ltd-a" target="_blank" data-smartkarma-citation="entities:4364:1" rel="noopener">NARI Technology (600406 CH)</a> and <a href="https://www.smartkarma.com/entities/kweichow-moutai-co-ltd-a" target="_blank" data-smartkarma-citation="entities:1553:1" rel="noopener">Kweichow Moutai (600519 CH)</a>. The largest outflows were in <a href="https://www.smartkarma.com/entities/contemporary-amperex-techn-a" target="_blank" data-smartkarma-citation="entities:24404:1" rel="noopener">CATL (300750 CH)</a> and <a href="https://www.smartkarma.com/entities/wuliangye-yibin-co-ltd" target="_blank" data-smartkarma-citation="entities:19968:1" rel="noopener">Wuliangye Yibin Co Ltd (000858 CH)</a>.</li>
</ul>


Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.
Overall, net inflow over the past week was ~US$1.7bn, split between Shanghai (+US$1.8bn) and Shenzhen (-US$0.1bn).
The largest inflows were into NARI Technology (600406 CH) and Kweichow Moutai (600519 CH). The largest outflows were in CATL (300750 CH) and Wuliangye Yibin Co Ltd (000858 CH).


Shanghai/​​​​​Shenzhen Northbound Connect: Weekly Moves (24 June 2022)

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>The past week recorded inflows of USD 3.8bn, the largest since Feb. Such inflows were led by consumer staples, industrials and materials.</li>
<li>We highlight stocks including Moutai, Wuliangye, CMB, China Tourism Duty Free, and CATL.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine.
The past week recorded inflows of USD 3.8bn, the largest since Feb. Such inflows were led by consumer staples, industrials and materials.
We highlight stocks including Moutai, Wuliangye, CMB, China Tourism Duty Free, and CATL.


Northbound Flows: Biggest Inflow Since Feb

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>Consumer staple, health care, and information technology led the outflows of USD 1.3bn last week.</li>
<li>We highlight flows of COSCO Shipping, SF Holding, Yangtze Power, CMB, Wuliangye, Moutai.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine.
Consumer staple, health care, and information technology led the outflows of USD 1.3bn last week.
We highlight flows of COSCO Shipping, SF Holding, Yangtze Power, CMB, Wuliangye, Moutai.


Northbound Flows: COSCO Shipping, SF Holding, Yangtze Power, CMB, Wuliangye, Moutai

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>Information Technology, Materials, and Real Estate led the inflows while Health Care and Communication Services led the outflows.</li>
<li>We highlight inflows into Moutai, CSCC, Beijing Oriental Yuhong, Sungrow and outflows from Jiangsu Hengrui.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine.
Information Technology, Materials, and Real Estate led the inflows while Health Care and Communication Services led the outflows.
We highlight inflows into Moutai, CSCC, Beijing Oriental Yuhong, Sungrow and outflows from Jiangsu Hengrui.


Northbound Flows: Moutai, CSCC, Beijing Oriental Yuhong, Sungrow

China

Luzhou Laojiao Co., Ltd. manufactures and sells spirits products worldwide. The Company also produces glass products, manages hotels, and invests in the real estate business.

Shanxi Xinghuacun Fen Wine Factory Co., Ltd. operates in the winery business. The Company's products include Fen wine, Zhuyeqing, and other white spirits.

Shanxi Xinghuacun Fen Wine Factory Co (600809 CH)

Jiangsu Yanghe Brewery Joint-Stock Company Ltd. manufactures spirits. The Company's products include white spirits, top-graded gifts liquor, and liquor for daily consumption.

Tsingtao Brewery Company Limited produces and distributes beer products.  The Company markets its products throughout China and around the world under the Tsingtao Beer brand name.

Jiangsu King's Luck Brewery JSC Ltd. operates as a wine company. The Company produces and distributes wine, liquor, and other related products.

Jiangsu King's Luck Brewery JS (603369 CH)

Budweiser Brewing Company APAC Limited is a company principally engaged in the brewing and distribution of beer. The Company produces, imports, markets, distributes over 50 brands including Budweiser, Stella Artois, Corona, Hoegaarden, Cass, and Harbin. The principal markets include China, South Korea, India and Vietnam.

Anhui Gujing Distillery Co., Ltd. produces and markets distilled spirits and wine.

Anhui Yingjia Distillery Co., Ltd. develops, produces and sells liquor products. The Company operates in China.

Beijing Yanjing Brewery Co., Ltd. operates in the brewery industry.  The Company's products include beer, spring water, beer raw materials, feeds, yeast, and other related products.

Beijing Yanjing Brewery Co, Ltd. (000729 CH)

Chongqing Brewery Co., Ltd. manufactures and markets beer products.  The Company also produces medical preparations and capsules.

Anheuser-Busch InBev NV brews beer.  The Company manufactures ale, lager, stout, and bitter beer.  Anheuser-Busch InBev owns brands that are both nationally and internationally prominent.  The Company has production plants in Europe, the Americas, and Asia.

Diageo plc produces, distills and markets alcoholic beverages.  The Company offers a wide range of branded beverages, including vodkas, whiskeys, tequilas, gins, and beer.

Brown-Forman Corporation manufactures, bottles, imports, exports, and markets a wide variety of alcoholic beverage brands. The Company's products include branded whiskey, vodka, wines, tequila, bourbon, and gin.

Monster Beverage Corporation is a holding company based in Corona, California. The Company, through its consolidated subsidiaries, markets and distributes energy drinks worldwide.

Coca-Cola Enterprises Inc. markets, sells, manufactures, and distributes non-alcoholic beverages.  The Company provides refreshments, including sparkling waters, juices, isotonics, teas, and sodas.  Coca-Cola Enterprises operates internationally.

Constellation Brands, Inc. produces and markets alcoholic beverages in North America, Europe, and Australia, and New Zealand. The Company has a portfolio of brands across the wine, imported beer, and distilled spirits categories. Constellation conducts its business through wholly owned subsidiaries as well as through a variety of joint ventures with various other entities.

Keurig Dr Pepper Inc. manufactures and distributes non-alcoholic beverages. The Company offers soft drinks, juices, teas, mixers, water, and other beverages. Keurig Dr Pepper serves customers in the United States, Canada, and Mexico.

Heineken NV produces and distributes beverages internationally. The Company produces beers, spirits, wines, and soft drinks under various brand names.

Heineken Holding NV, through its subsidiary produces and distributes beverages internationally.  The Company produces beers, spirits, wines, and soft drinks under various brand names. Heineken operates through numerous subsidiaries and associated companies worldwide.

Pernod Ricard SA produces wines and spirits.  The Company produces wines, bitters, whiskies, anis-based spirits, liqueurs, cognacs and brandies, and white spirits and rums.  Pernod Ricard markets its products worldwide.

Wuliangye Yibin Co., Ltd. manufactures and markets Wuliangye series of liquors. Through its subsidiaries, the Company also manufactures carbon and lactic acid and has operation in printing and packaging materials businesses.

Price Gauge
52-week Range	0.00 - 0.00
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Wuliangye Yibin Co Ltd A (000858 CH)

Northbound Flows: Moutai, East Money, Gree, Wuxi Apptec, Tongwei

We highlight northbound Hong Kong Connect inflows into Moutai, East Money, Gree, Wuxi Apptec, and Tongwei from offshore investors.

Ke Yan, CFA, FRM

Shanghai/Shenzhen Northbound Connect: Weekly Moves (24 June 2022)

Overall, net inflow over the past week was ~US$1.7bn, split between Shanghai (+US$1.8bn) and Shenzhen (-US$0.1bn). The largest inflows were into...

David Blennerhassett

Northbound Flows: Biggest Inflow Since Feb

We highlight northbound Shanghai Shenzhen connect net inflows of USD 3.8bn and stocks including Moutai, Wuliangye, CMB, China Tourism Duty Free,...

Ke Yan, CFA, FRM

Northbound Flows: COSCO Shipping, SF Holding, Yangtze Power, CMB, Wuliangye, Moutai

We highlight northbound Shanghai/Shenzhen Connect flows of COSCO Shipping, SF Holding, Yangtze Power, CMB, Wuliangye, Moutai.

Ke Yan, CFA, FRM

Northbound Flows: Moutai, CSCC, Beijing Oriental Yuhong, Sungrow

We highlight weekly northbound inflows into Moutai, CSCC, Beijing Oriental Yuhong, Sungrow as well as outflows from Jiangsu Hengrui.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Northbound Flows: Moutai, East Money, Gree, Wuxi Apptec, Tongwei

We highlight northbound Hong Kong Connect inflows into Moutai, East Money, Gree, Wuxi Apptec, and Tongwei from offshore investors.

Ke Yan, CFA, FRM

Shanghai/​​​​​Shenzhen Northbound Connect: Weekly Moves (24 June 2022)

Overall, net inflow over the past week was ~US$1.7bn, split between Shanghai (+US$1.8bn) and Shenzhen (-US$0.1bn). The largest inflows were into...

David Blennerhassett

Northbound Flows: Biggest Inflow Since Feb

We highlight northbound Shanghai Shenzhen connect net inflows of USD 3.8bn and stocks including Moutai, Wuliangye, CMB, China Tourism Duty Free,...

Ke Yan, CFA, FRM

Northbound Flows: COSCO Shipping, SF Holding, Yangtze Power, CMB, Wuliangye, Moutai

We highlight northbound Shanghai/Shenzhen Connect flows of COSCO Shipping, SF Holding, Yangtze Power, CMB, Wuliangye, Moutai.

Ke Yan, CFA, FRM

Northbound Flows: Moutai, CSCC, Beijing Oriental Yuhong, Sungrow

We highlight weekly northbound inflows into Moutai, CSCC, Beijing Oriental Yuhong, Sungrow as well as outflows from Jiangsu Hengrui.

Ke Yan, CFA, FRM

Shanghai/Shenzhen Northbound Connect: Weekly Moves (24 June 2022)