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 monthly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>Industrials (inflows of $3,132 million), Information Technology (inflows of $2,247 million), Health Care (inflows of $1,021 million) led the inflows.</li>
<li>We highlight flows for BOE, Wuliangye, Nari, Wanhua, Luzhou Laojiao, CMB, Longi Green, Foxconn, Ping An, Hithink.</li>
</ul>


We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.
Industrials (inflows of $3,132 million), Information Technology (inflows of $2,247 million), Health Care (inflows of $1,021 million) led the inflows.
We highlight flows for BOE, Wuliangye, Nari, Wanhua, Luzhou Laojiao, CMB, Longi Green, Foxconn, Ping An, Hithink.


Northbound Flows Monthly (Mar): BOE, Wuliangye, Nari, Wanhua, Luzhou Laojiao

<ul>
<li>We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>We estimate that the total inflows were USD 1.5bn last Month. Industrials, Information Technology, Consumer Staples led the inflows.</li>
<li>We highlight flows for CATL, Hundsun, Ping An Insurance, Inovance, Xinghuacun Fen Wine, Shaanxi Coal, Midea, Tongwei, BYD, Eve Energy, Industrial Bank.</li>
</ul>


We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.
We estimate that the total inflows were USD 1.5bn last Month. Industrials, Information Technology, Consumer Staples led the inflows.
We highlight flows for CATL, Hundsun, Ping An Insurance, Inovance, Xinghuacun Fen Wine, Shaanxi Coal, Midea, Tongwei, BYD, Eve Energy, Industrial Bank.


Northbound Flows Monthly (Feb): CATL, Hundsun, Ping An Insurance, Inovance, Xinghuacun Fen Wine

HK/China Equity Long-Short

Osbert Tang, CFA

Thematic (Sector/Industry)

<ul>
<li>The launch of Hang Seng Stock Connect Hydrogen Energy Index highlights the growing importance of hydrogen energy use and will stimulate more interest in this emerging sector. </li>
<li>
<a href="https://www.smartkarma.com/entities/weichai-power-co-ltd-h" target="_blank" data-smartkarma-citation="entities:12508:1" rel="noopener">Weichai Power (2338 HK)</a>, <a href="https://www.smartkarma.com/entities/enn-energy-holdings-ltd" target="_blank" data-smartkarma-citation="entities:316:1" rel="noopener">ENN Energy (2688 HK)</a>, <a href="https://www.smartkarma.com/entities/power-assets-holdings-ltd" target="_blank" data-smartkarma-citation="entities:788:1" rel="noopener">Power Assets (6 HK)</a>, <a href="https://www.smartkarma.com/entities/wuxi-lead-intelligent-equi-a" target="_blank" data-smartkarma-citation="entities:27971:1" rel="noopener">Wuxi Lead Intelligent Equi-A (300450 CH)</a> and <a href="https://www.smartkarma.com/entities/ningxia-baofeng-energy-group-a" target="_blank" data-smartkarma-citation="entities:29945:1" rel="noopener">Ningxia Baofeng Energy-A (600989 CH)</a> are the five largest constituents. </li>
<li>We believe many of these companies are just generating a tiny portion of revenue and profit from the hydrogen initiatives, but the long-term prospects are positive. </li>
</ul>


The launch of Hang Seng Stock Connect Hydrogen Energy Index highlights the growing importance of hydrogen energy use and will stimulate more interest in this emerging sector. 

Weichai Power (2338 HK), ENN Energy (2688 HK), Power Assets (6 HK), Wuxi Lead Intelligent Equi-A (300450 CH) and Ningxia Baofeng Energy-A (600989 CH) are the five largest constituents. 
We believe many of these companies are just generating a tiny portion of revenue and profit from the hydrogen initiatives, but the long-term prospects are positive. 


China's Hydrogen Economy: Newly Launched Hang Seng Stock Connect Hydrogen Energy Index

<ul>
<li>We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine. </li>
<li>Financial, information technology and industrials led the inflow in Jan.</li>
<li>We highlight inflows into CATL, Moutai, Ping An Insurance, Longi Green, Wuliangye.</li>
</ul>


We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine. 
Financial, information technology and industrials led the inflow in Jan.
We highlight inflows into CATL, Moutai, Ping An Insurance, Longi Green, Wuliangye.


Northbound Flows Monthly: $21bn Inflows in January

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of January 13th.</li>
<li>We estimate the weekly inflows to be US$6,510.6 million, led by financials, consumer staples, information technology sectors, and offset by energy, real estate.</li>
<li>We highlight flows for CATL, Ping An Insurance, Moutai, Wuliangye, Longi Green Energy Technology, Jiangsu Hengrui Medicine.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of January 13th.
We estimate the weekly inflows to be US$6,510.6 million, led by financials, consumer staples, information technology sectors, and offset by energy, real estate.
We highlight flows for CATL, Ping An Insurance, Moutai, Wuliangye, Longi Green Energy Technology, Jiangsu Hengrui Medicine.


Northbound Flows (Jan 13th): 1Y High Weekly Inflows

China

Wuxi Lead Intelligent Equipment Co Ltd is a manufacturer of high-tech equiptments. The company designs and manufactures electronic capacitors, solar energy equipments and lithium batteries equipments.

Wuxi Lead Intelligent Equipmen (300450 CH)

Price Gauge
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Wuxi Lead Intelligent Equipmen (300450 CH)

Northbound Flows Monthly (Mar): BOE, Wuliangye, Nari, Wanhua, Luzhou Laojiao

We analyzed the Hong Kong Connect Scheme for March and highlight flows for BOE, Wuliangye, Nari, Wanhua, Luzhou Laojiao, CMB, Longi Green, Foxconn,...

Ke Yan, CFA, FRM

Northbound Flows Monthly (Feb): CATL, Hundsun, Ping An Insurance, Inovance, Xinghuacun Fen Wine

We analyzed the Shanghai/Shenzhen Connect Scheme for February and highlight flows for CATL, Hundsun, Ping An Insurance, Inovance, Xinghuacun Fen Wine.

Ke Yan, CFA, FRM

China's Hydrogen Economy: Newly Launched Hang Seng Stock Connect Hydrogen Energy Index

The launch of Hydrogen Energy Index highlights growing importance of hydrogen energy use and will stimulate more interest in this emerging sector....

Osbert Tang, CFA

Northbound Flows Monthly: $21bn Inflows in January

We analyzed the Shanghai/Shenzhen Connect Scheme for January and highlight flows for CATL, Moutai, Ping An Insurance, Longi Green, Wuliangye.

Ke Yan, CFA, FRM

Northbound Flows (Jan 13th): 1Y High Weekly Inflows

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for CATL, Ping An Insurance, Moutai, Wuliangye, Longi...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)