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.

Equity Bottom-Up

<ul>
<li>China announced game approval for the April batch. The number of games approved remained at a higher level than 2023.</li>
<li>The pace of China game approval appears to have accelerated to the same level as pre-tightening, though the number of approvals appears to be slower than March.</li>
<li>While Tencent scored zero, Netease got approval for one game.</li>
</ul>


China announced game approval for the April batch. The number of games approved remained at a higher level than 2023.
The pace of China game approval appears to have accelerated to the same level as pre-tightening, though the number of approvals appears to be slower than March.
While Tencent scored zero, Netease got approval for one game.


Tencent/Netease: Game Approval Rotate to Netease in April

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 3rd.</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 Tencent Holdings, Bank Of China, Xiaomi.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 3rd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent Holdings, Bank Of China, Xiaomi.


Hong Kong Connect Flows (Apr 3rd): Tencent, Bank Of China, Xiaomi

<ul>
<li>China announced game approval for the Feb batch. The number of games approved remained at a higher level than 2023.</li>
<li>The pace of China game approval appears to have accelerated to the same level as pre-tightening.</li>
<li>However, neither Tencent and Netease got any approval in March.</li>
</ul>


China announced game approval for the Feb batch. The number of games approved remained at a higher level than 2023.
The pace of China game approval appears to have accelerated to the same level as pre-tightening.
However, neither Tencent and Netease got any approval in March.


Tencent/Netease: Both Zeroed in March Game Approval

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 15th.</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 Bank Of China, Tencent, CNOOC, Zto Express, Kuaishou Technology, Anta Sports Products.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 15th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Bank Of China, Tencent, CNOOC, Zto Express, Kuaishou Technology, Anta Sports Products.


Hong Kong Connect Flows (Mar 15th): BOC, Tencent, CNOOC, Zto Express, Kuaishou, Anta Sports

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 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 thre stocks, Meituan, China Mobile, and CNOOC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 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 thre stocks, Meituan, China Mobile, and CNOOC.


Hong Kong Connect Flows (Mar 8th): Meituan, China Mobile, CNOOC

China

XD Inc. provides entertainment content. The Company offers various types of online games for all type of age groups  XD serves customers in China.

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

XD Inc. (2400 HK)

Tencent/Netease: Game Approval Rotate to Netease in April

China's NPPA released latest batch of game approval for the month of April. While Tencent didn't obtain any approval, Netease obtained one approval...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Apr 3rd): Tencent, Bank Of China, Xiaomi

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Tencent Holdings, Bank Of China, Xiaomi.

Ke Yan, CFA, FRM

Tencent/Netease: Both Zeroed in March Game Approval

China's game approval process shows higher levels than in 2023, with an accelerated pace resembling pre-tightening, but major companies like...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Mar 15th): BOC, Tencent, CNOOC, Zto Express, Kuaishou, Anta Sports

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Bank Of China, Tencent, CNOOC, Zto Express, Kuaishou, Anta...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Mar 8th): Meituan, China Mobile, CNOOC

We analyzed southbound Hong Kong connect flows in the past week. We estimate the inflows to be USD1.4bn and highlight flows for Meituan, China...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Tencent/Netease: Game Approval Rotate to Netease in April

China's NPPA released latest batch of game approval for the month of April. While Tencent didn't obtain any approval, Netease obtained one approval...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Apr 3rd): Tencent, Bank Of China, Xiaomi

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Tencent Holdings, Bank Of China, Xiaomi.

Ke Yan, CFA, FRM

Tencent/Netease: Both Zeroed in March Game Approval

​China's game approval process shows higher levels than in 2023, with an accelerated pace resembling pre-tightening, but major companies like...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Mar 15th): BOC, Tencent, CNOOC, Zto Express, Kuaishou, Anta Sports

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Bank Of China, Tencent, CNOOC, Zto Express, Kuaishou, Anta...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Mar 8th): Meituan, China Mobile, CNOOC

We analyzed southbound Hong Kong connect flows in the past week. We estimate the inflows to be USD1.4bn and highlight flows for Meituan, China...

Ke Yan, CFA, FRM

China's game approval process shows higher levels than in 2023, with an accelerated pace resembling pre-tightening, but major companies like...