Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Reportedly <a href="https://www.smartkarma.com/entities/jardine-matheson-holdings-ltd" target="_blank" data-smartkarma-citation="entities:19718:1" rel="noopener"><strong>Jardine Matheson Holdings (JM SP)</strong></a> is negotiating the sale of Jardine Restaurant Group, a wholly-owned subsidiary that operates KFC and Pizza Hut franchises.</li>
<li>Additionally, JMH is exploring the sale of its 28% stake in <strong><a href="https://www.smartkarma.com/entities/greatview-aseptic-packaging" target="_blank" data-smartkarma-citation="entities:10802:1" rel="noopener">Greatview Aseptic Packaging (468 HK)</a></strong>.</li>
<li>JMH is in the market every day buying its own shares, but on a less aggressive basis compared to the pace seen shortly after reloading its buyback program last month.</li>
</ul>


Reportedly Jardine Matheson Holdings (JM SP) is negotiating the sale of Jardine Restaurant Group, a wholly-owned subsidiary that operates KFC and Pizza Hut franchises.
Additionally, JMH is exploring the sale of its 28% stake in Greatview Aseptic Packaging (468 HK).
JMH is in the market every day buying its own shares, but on a less aggressive basis compared to the pace seen shortly after reloading its buyback program last month.


Jardine Matheson (JM SP): Fast Food Junked

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 analyzed the latest HK SFC report for aggregate short position as of Jan 7th. </li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short spike for Alibaba (9988 HK) and China Overseas Land (688 HK).</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jan 7th. 
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short spike for Alibaba (9988 HK) and China Overseas Land (688 HK).


HK Short Interest: Alibaba, China Overseas Land

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jardine-matheson-holdings-ltd" target="_blank" data-smartkarma-citation="entities:19718:1" rel="noopener">Jardine Matheson Holdings (JM SP)</a> has <a href="https://links.sgx.com/FileOpen/JMH.ashx?App=Announcement&amp;FileID=693661" target="_blank" rel="noopener">announced</a> it intends to increase the amount of its share buyback programme announced on 30th September 2021 by US$250mn to US$500mn.</li>
<li>JMH has already acquired close to US$250mn of shares under the initial buyback. All shares repurchases will be canceled.</li>
<li>Separately, the appraisal rights proceedings for dissenting shareholders of <a href="https://www.smartkarma.com/entities/jardine-strategic-holdings-ltd" target="_blank" data-smartkarma-citation="entities:15081:1" rel="noopener">Jardine Strategic Holdings (JS SP)</a> is now underway in the Supreme Court of Bermuda.</li>
</ul>



Jardine Matheson Holdings (JM SP) has announced it intends to increase the amount of its share buyback programme announced on 30th September 2021 by US$250mn to US$500mn.
JMH has already acquired close to US$250mn of shares under the initial buyback. All shares repurchases will be canceled.
Separately, the appraisal rights proceedings for dissenting shareholders of Jardine Strategic Holdings (JS SP) is now underway in the Supreme Court of Bermuda.


Matheson Doubles Buybacks As Strategic Dissentient Shareholders Make Their Case

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Nov 12. </li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short increases for Smoore and China Resource Land. </li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Nov 12. 
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short increases for Smoore and China Resource Land. 


HK Short Interest: Short Spiked for Smoore, CR Land

<p>Hong Kong SFC reported aggregate short position as of Oct 29. The aggregate short value for equities decreased by $10,647m (-14.9%) WoW and decreased by $4,955m (-7.5%) over the preceding four weeks. We note that the weekly short covers were the biggest YTD. <br><br>Most shorted stocks by aggregate short value of positions are Ping An Insurance (Group) Company Of China, Ltd./2318 HK($2,707m, -27.4% WoW), Tencent Holdings Limited/700 HK($1,644m, -32.5% WoW), Meituan/3690 HK($1,552m, -30.5% WoW), Byd Company Limited/1211 HK($1,448m, -11.2% WoW), Baba-Sw/9988 HK($1,366m, -11.9% WoW).</p><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/240/070/original/Hong_Kong_Market_Short_Position_Value_%28line%29_and_1W_Changes_%28bar%29_%28%24m%292021-11-06+10_03_41.png?1636256051" class="editor-image img-responsive" data-smartkarma-image-id="240070"></figure></section>

Hong Kong SFC reported aggregate short position as of Oct 29. The aggregate short value for equities decreased by $10,647m (-14.9%) WoW and decreased by $4,955m (-7.5%) over the preceding four weeks. We note that the weekly short covers were the biggest YTD.   Most shorted stocks by aggregate short value of positions are Ping An Insurance (Group) Company Of China, Ltd./2318 HK($2,707m, -27.4% WoW), Tencent Holdings Limited/700 HK($1,644m, -32.5% WoW), Meituan/3690 HK($1,552m, -30.5% WoW), Byd Company Limited/1211 HK($1,448m, -11.2% WoW), Baba-Sw/9988 HK($1,366m, -11.9% WoW).

HK Short Interest: Biggest Weekly Short Covers YTD

China

Zhongsheng Group Holdings Ltd. retails automobiles.  The Company imports and retails primarily luxury and mid- to high-end automobile brands.

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Zhongsheng Group (881 HK)

Jardine Matheson (JM SP): Fast Food Junked

JMH looks set to further boost its cash coffers raising the prospect of further buybacks. And this is the Keswick's end game - chip away at...

David Blennerhassett

HK Short Interest: Alibaba, China Overseas Land

We highlight week on week short spike for Alibaba (9988 HK) and China Overseas Land (688 HK) from the latest SFC short aggregate report.

Ke Yan, CFA, FRM

Matheson Doubles Buybacks As Strategic Dissentient Shareholders Make Their Case

Matheson has announced it intends to increase the amount of its share buyback programme by US$250mn to US$500mn. Court proceedings for Strategic...

David Blennerhassett

HK Short Interest: Short Spiked for Smoore, CR Land

We highlight WOW short interest increases for Smoore and China Resource Land based on the latest Hong Kong SFC short aggregate report.

Ke Yan, CFA, FRM

HK Short Interest: Biggest Weekly Short Covers YTD

We high weekly short covers for Zhongsheng (881 HK), Ping An (2318 HK), Tencent (700 HK), and Meituan (3690 HK) based on the latest HK SFC short...

Ke Yan, CFA, FRM

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