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 analyse the changes of A/H premium on 136 stocks over the last week.</li>
<li>The sector with the biggest A/H premium increase was Information Technology (ΔA/H premium=8.4ppt) while the sector with the biggest A/H premium decrease was Communication Services (ΔA/H premium=-1.2ppt).</li>
<li>We highlight A/H premium changes of stocks: GWM, CCCC, Cansino, China Oilfield, Air China.</li>
</ul>


We analyse the changes of A/H premium on 136 stocks over the last week.
The sector with the biggest A/H premium increase was Information Technology (ΔA/H premium=8.4ppt) while the sector with the biggest A/H premium decrease was Communication Services (ΔA/H premium=-1.2ppt).
We highlight A/H premium changes of stocks: GWM, CCCC, Cansino, China Oilfield, Air China.


A/H Premium Weekly: Great Wall Motor, CCCC, Cansino, China Oilfield, Air China

<ul>
<li>We analyse the changes of A/H premium on 136 stocks over the last week.</li>
<li>Information technology and health care led the increases of A/H premium while consumer staple led the decreases of A/H premium. </li>
<li>We highlight A/H premium increases for Flat Glass, Cansino, and China Eastern Air. </li>
</ul>


We analyse the changes of A/H premium on 136 stocks over the last week.
Information technology and health care led the increases of A/H premium while consumer staple led the decreases of A/H premium. 
We highlight A/H premium increases for Flat Glass, Cansino, and China Eastern Air. 


A/H Premium Weekly: Flat Glass, Cansino, China Eastern Air

<ul>
<li>We analyse the changes of A/H premium on 134 stocks over the last week.</li>
<li>Consumer discretionary, consumer staple and health care sectors lower the overall A/H premium. </li>
<li>Real estate and industrials sectors are the only two sectors with WoW A/H premium increases.</li>
</ul>


We analyse the changes of A/H premium on 134 stocks over the last week.
Consumer discretionary, consumer staple and health care sectors lower the overall A/H premium. 
Real estate and industrials sectors are the only two sectors with WoW A/H premium increases.


A/H Premium Weekly: Consumer and Health Care Lowered A/H Premium

<ul>
<li>We analyse the changes of A/H premium on 134 stocks over the last week. </li>
<li>The sector with the biggest A/H premium increase was Health Care (ΔA/H premium=+8.1ppt).  The average A/H premium of the the Health Care sector was also at 52 week high. </li>
<li>This is due to the A/H premia of many Health Care stocks at 52 week high: Wuxi Apptec, Tigermed, Pharmaron, Hepalink, and the increase of A/H for Join Lab, Haohai. </li>
</ul>


We analyse the changes of A/H premium on 134 stocks over the last week. 
The sector with the biggest A/H premium increase was Health Care (ΔA/H premium=+8.1ppt).  The average A/H premium of the the Health Care sector was also at 52 week high. 
This is due to the A/H premia of many Health Care stocks at 52 week high: Wuxi Apptec, Tigermed, Pharmaron, Hepalink, and the increase of A/H for Join Lab, Haohai. 


A/H Premium Weekly: Health Care A/H Premium at 52W High

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

Hang Seng Indexes Company (HSIL) reviews the constituents of the Hang Seng Composite Index (HSCI) on a half yearly basis in March and September with data cut-off dates as of the end of December and June. The review announcement for the September 2021 review should be made on 13 August and will be effective after the close of trading on 3 September.Although there are almost no assets indexed to the HSCI, the index forms the basis of stocks that are eligible for Southbound Stock Connect. Stocks that are included in the HSCI and subsequently included in the Stock Connect program get inflows from mainland investors.We see 28 potential inclusions to the HSCI at the rebalance and 15 potential deletions, plus another 7 close deletions. Only 10 of the potential deletions will be removed from Southbound Stock Connect buy list since the other deletions are either not a part of Stock Connect currently or have listed A-shares.The inclusions to the HSCI outperformed the deletions at the March rebalance from review cut-off to announcement of the changes before giving by some of the gains to implementation and then some more for the 1 month post the implementation of the changes.

Hang Seng Indexes Company (HSIL) reviews the constituents of the Hang Seng Composite Index (HSCI) on a half yearly basis in March and September with data cut-off dates as of the end of December and June. The review announcement for the September 2021 review should be made on 13 August and will be effective after the close of trading on 3 September.Although there are almost no assets indexed to the HSCI, the index forms the basis of stocks that are eligible for Southbound Stock Connect. Stocks that are included in the HSCI and subsequently included in the Stock Connect program get inflows from mainland investors.We see 28 potential inclusions to the HSCI at the rebalance and 15 potential deletions, plus another 7 close deletions. Only 10 of the potential deletions will be removed from Southbound Stock Connect buy list since the other deletions are either not a part of Stock Connect currently or have listed A-shares.The inclusions to the HSCI outperformed the deletions at the March rebalance from review cut-off to announcement of the changes before giving by some of the gains to implementation and then some more for the 1 month post the implementation of the changes.

HSCI Index Rebalance & Stock Connect: Expected Changes in September

China

Yangtze Optical Fibre & Cable Joint Stock Limited Company manufactures fiber and cable products. The Company researches, designs, develops, produces, processes, and sells communication fibers, communication cables, specialty fibers, and fiber optics related products. Yangtze Optical Fibre & Cable markets its products domestically and internationally.

Price Gauge
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Yangtze Optical Fibre And H (6869 HK)

A/H Premium Weekly: Great Wall Motor, CCCC, Cansino, China Oilfield, Air China

We highlight week on week A/H premium at 52w high for Great Wall Motor, CCCC, , and week on week changes of Cansino, China Oilfield, Air China.

Ke Yan, CFA, FRM

A/H Premium Weekly: Flat Glass, Cansino, China Eastern Air

We highlight information technology and health care led the increases of A/H premium and three stocks: Flat Glass, Cansino, and China Eastern Air.

Ke Yan, CFA, FRM

A/H Premium Weekly: Consumer and Health Care Lowered A/H Premium

We highlight that the consumer discretionary, consumer staple and health care sectors are the biggest driver for lower A/H premium WoW.

Ke Yan, CFA, FRM

A/H Premium Weekly: Health Care A/H Premium at 52W High

We highlight that A/H premium of Health Care sector at 52 week high due to rumor of entity list inclusion, this is due to A/H premia of many...

Ke Yan, CFA, FRM

HSCI Index Rebalance & Stock Connect: Expected Changes in September

Currently we see 28 potential inclusions & 22 deletions from the HSCI at the Sep rebalance. Most of the inclusions will join Stock Connect while...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)