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

With the implementation of Hong Kong Connect in 2014, mainland Chinese investors could access the international market on the Hong Kong Stock Exchange. Over the past three years, Chinese investors have increased their holdings to an average of 9% of the free float in the shares eligible under the scheme. 
In this series of insights, we will help our investors understand the flow of southbound trades via the Hong Kong Connect, as analyzed by our proprietary data engine. Our discussion includes:
1) Which stocks are held the most by mainlanders?
2) Which stocks experience the most inflow and outflow by mainlanders?
We split the stocks eligible for the Hong Kong Connect trade into three groups: those with market capitalization of above USD 5 billion, those with market capitalization between USD 1 billion and USD 5 billion, and those with market capitalization between USD 500 million and USD 1 billion.

With the implementation of Hong Kong Connect in 2014, mainland Chinese investors could access the international market on the Hong Kong Stock Exchange. Over the past three years, Chinese investors have increased their holdings to an average of 9% of the free float in the shares eligible under the scheme. 
In this series of insights, we will help our investors understand the flow of southbound trades via the Hong Kong Connect, as analyzed by our proprietary data engine. Our discussion includes:
1) Which stocks are held the most by mainlanders?
2) Which stocks experience the most inflow and outflow by mainlanders?
We split the stocks eligible for the Hong Kong Connect trade into three groups: those with market capitalization of above USD 5 billion, those with market capitalization between USD 1 billion and USD 5 billion, and those with market capitalization between USD 500 million and USD 1 billion.

Discover HK Connect: What Mainlanders Are Buying (2018-12-03)

Equity Capital Markets

Xinyi Energy Holdings  / Equity Capital Markets

Xinyi Energy, the solar farm asset holding company of the Hong Kong-listed <a href="https://www.smartkarma.com/entities/318" target="_blank" data-smartkarma-citation="entities:318:1">Xinyi Solar Holdings (968 HK)</a>, is looking to list via a spin-off. Proceeds from the IPO will be used to acquire an additional solar farm portfolio from Xinyi Solar. In this insight, we will look at the following topics:
<ul>
<li>The company's solar farm assets</li>
<li>Revenue model</li>
<li>Target acquisition from the parent</li>
<li>The solar industry in China and recent development</li>
<li>Financial analysis of the portfolio</li>
<li>Our thoughts on valuation</li>
</ul>

Xinyi Energy, the solar farm asset holding company of the Hong Kong-listed Xinyi Solar Holdings (968 HK), is looking to list via a spin-off. Proceeds from the IPO will be used to acquire an additional solar farm portfolio from Xinyi Solar. In this insight, we will look at the following topics:

The company's solar farm assets
Revenue model
Target acquisition from the parent
The solar industry in China and recent development
Financial analysis of the portfolio
Our thoughts on valuation


Xinyi Energy (信义能源) IPO: AssetCo that Depends on Parent Injection

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

Recent USD strength has weighed on EM’s relative performance. Given (1) strength in commodity prices (sans precious metals), (2) the potential for some backing-and-filling of the USD, and (3) MSCI EM price and relative strength support levels continuing to hold, we see recent weakness as a buying opportunity.  The MSCI BRIC index has reasserted its leadership status. In addition to China, fellow BRIC countries Brazil and India exhibit attractive setups, while Chile’sIPSA also presents opportunities. Today’s report includes a wide variety of bottom-up recommendations across the EM universe, spanning most sectors and all market capitalizations.

Recent USD strength has weighed on EM’s relative performance. Given (1) strength in commodity prices (sans precious metals), (2) the potential for some backing-and-filling of the USD, and (3) MSCI EM price and relative strength support levels continuing to hold, we see recent weakness as a buying opportunity.  The MSCI BRIC index has reasserted its leadership status. In addition to China, fellow BRIC countries Brazil and India exhibit attractive setups, while Chile’sIPSA also presents opportunities. Today’s report includes a wide variety of bottom-up recommendations across the EM universe, spanning most sectors and all market capitalizations.

Emerging Markets Strategy: Attractive Setups in China, Brazil, India, and Chile

Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

Riedel provides equity research and analysis to leading financial organizations. By becoming members of a region (Asia, Latin America, Emerging Europe or Global), organizations have access to an integrated set of services including:

Regular company coverage reports
Up-to-date investment decision advice (buy, hold, sell)
Monthly regional and global conference calls
Customized company reports and unlimited on-line access to the program's services.

Riedel provides research coverage of companies across the full range of market capitalization. Experienced research professionals in each market develop company reports and analysis as well as earnings models and projections. Ratings are Buy, Hold and Sell with a focus on compelling investment ideas - both long and short. Downloadable, dynamic earnings models are built to facilitate sensitivity analysis.

Please feel free to contact us for complimentary access to our written research.  We want to show you that our unique research flow can add value and help develop a long-term, high value-add relationship.

Riedel's model focuses on providing clients with unique insights and consulting in addition to unlimited access to all produced research This model allows members to receive exponential benefits for their retainer fees.

Thematic (Sector/Industry)

Hungary: Faster earnings growth should drive GDP higher in coming months. Mexico: Expected to raise rates 50bps next Thursday in the wake of inflation reported this week at 5.3% (the highest rate in 8 years).  This is a critical positive development for the Peso. Saudi Arabia: Has the most to lose from lower prices as this complicates attempts to diversify their economy.  Iran is less concerned as they are just coming off of sanctions and any revenue they get is better than before.  Iraq would…

Hungary: Faster earnings growth should drive GDP higher in coming months. Mexico: Expected to raise rates 50bps next Thursday in the wake of inflation reported this week at 5.3% (the highest rate in 8 years).  This is a critical positive development for the Peso. Saudi Arabia: Has the most to lose from lower prices as this complicates attempts to diversify their economy.  Iran is less concerned as they are just coming off of sanctions and any revenue they get is better than before.  Iraq would…

Who Wins and Who Loses from Oil Under $50? Hint: Invest in Asia

Energy Expert

Thierry Bros, PhD

Thierrybros.com

Interesting article in the Financial Time (FT) on stock exchanges fighting for Saudi Aramco IPO <a href="https://www.ft.com/content/41af604e-0315-11e7-ace0-1ce02ef0def9" target="_blank">https://www.ft.com/content/41af604e-0315-11e7-ace0-1ce02ef0def9 </a>with the following conclusion "Saudi Aramco will initially list as much as 5% of the company and investors and analysts have questioned the size of Riyadh’s $2tn valuation. But even if it reaches just half that target it would still raise $50bn — twice as much as Alibaba’s record IPO in 2014."Back in <a href="https://www.smartkarma.com/insights/saudi-aramco-value-tn-maybe-not" target="_blank" data-smartkarma-citation="insights:8177">Saudi Aramco Value: $tn? Maybe Not!</a> my…

Interesting article in the Financial Time (FT) on stock exchanges fighting for Saudi Aramco IPO https://www.ft.com/content/41af604e-0315-11e7-ace0-1ce02ef0def9 with the following conclusion "Saudi Aramco will initially list as much as 5% of the company and investors and analysts have questioned the size of Riyadh’s $2tn valuation. But even if it reaches just half that target it would still raise $50bn — twice as much as Alibaba’s record IPO in 2014."Back in Saudi Aramco Value: $tn? Maybe Not! my…

New York and London Battle for Saudi Aramco IPO

China

Xinyi Solar Holdings Limited manufactures solar glass.  The Company produces ultra-clear photovoltaic raw glass and ultra-clear photovoltaic processed glass. Xinyi Solar Holdings offers its products to major solar product component manufactures both domestically and internationally.

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

Xinyi Solar Holdings (968 HK)

Discover HK Connect: What Mainlanders Are Buying (2018-12-03)

With the implementation of Hong Kong Connect in 2014, mainland Chinese investors could access the international market on the Hong Kong Stock...

Ke Yan, CFA, FRM

Xinyi Energy (信义能源) IPO: AssetCo that Depends on Parent Injection

Xinyi Energy, the solar farm asset holding company of the Hong Kong-listed Xinyi Solar Holdings (968 HK), is looking to list via a spin-off....

Ke Yan, CFA, FRM

Emerging Markets Strategy: Attractive Setups in China, Brazil, India, and Chile

Recent USD strength has weighed on EM’s relative performance. Given (1) strength in commodity prices (sans precious metals), (2) the potential for...

Vermilion Research

Who Wins and Who Loses from Oil Under $50? Hint: Invest in Asia

Hungary: Faster earnings growth should drive GDP higher in coming months.Mexico: Expected to raise rates 50bps next Thursday in the wake of...

David Riedel

New York and London Battle for Saudi Aramco IPO

Interesting article in the Financial Time (FT) on stock exchanges fighting for Saudi Aramco IPO...

Thierry Bros, PhD

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)