External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<div><div><div><div><ul><li>We regard the domestic telecom sector as a defensive play amid macro- economic pressure, consumer weakness, rising uncertainties, etc.</li><li>We expect China telcos to be the most favorable defensive picks with ample FCF, high dividend yield and potential share repo opportunities.</li><li>China Mobile’s (600941 CH/941 HK) share price grew 12.5%/8.3% YTD. The investors’ appetite seems to confirm our previous prediction “Good compound returns (dividends, share repo) in an environment of uncertainty will become more valued by investors.” </li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We regard the domestic telecom sector as a defensive play amid macro- economic pressure, consumer weakness, rising uncertainties, etc.We expect China telcos to be the most favorable defensive picks with ample FCF, high dividend yield and potential share repo opportunities.China Mobile’s (600941 CH/941 HK) share price grew 12.5%/8.3% YTD. The investors’ appetite seems to confirm our previous prediction “Good compound returns (dividends, share repo) in an environment of uncertainty will become more valued by investors.” Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China 5G Sector – Expect telecom names continue to show strength in broad market weakness

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

<ul>
<li>India’s tax authorities accused Chinese smartphone maker Oppo of evading customs duties totaling 43.89 billion rupees ($551 million)</li>
<li>India’s Directorate of Revenue Intelligence, part of the Ministry of Finance, said it found evidence that Oppo’s India unit willfully and wrongly described imported components used to make phones to get duty exemptions of 29.81 billion rupees</li>
<li>
<p>The directorate also said Oppo failed to include 14.08 billion rupees of licensing fees paid to overseas companies when calculating the value of imported goods.</p>
</li>
</ul>


India’s tax authorities accused Chinese smartphone maker Oppo of evading customs duties totaling 43.89 billion rupees ($551 million)
India’s Directorate of Revenue Intelligence, part of the Ministry of Finance, said it found evidence that Oppo’s India unit willfully and wrongly described imported components used to make phones to get duty exemptions of 29.81 billion rupees

The directorate also said Oppo failed to include 14.08 billion rupees of licensing fees paid to overseas companies when calculating the value of imported goods.



India Accuses China’s Oppo of Evading $551 Million of Taxes

Cross Asset Strategy

<ul><li><p>Budgets / In Depth: The growing difficulty of balancing China’s local government budgets</p></li><li><p>Crash / Caixin Explains: What we know so far about the crash of flight MU5735</p></li><li><p>Audit / China’s securities watchdog mulls move to break audit deadlock with U.S.</p></li></ul>

Budgets / In Depth: The growing difficulty of balancing China’s local government budgetsCrash / Caixin Explains: What we know so far about the crash of flight MU5735Audit / China’s securities watchdog mulls move to break audit deadlock with U.S.

CX Daily: What We Know So Far About the Crash of Flight MU5735

Actionable Insights, Assured Alpha, ANTYA Investments

ANTYA Investments

Actionable Insights, Assured Alpha

Investing That Empowers You

ANTYA Investments Inc., regulated by the Ontario Securities Commission, is registered to provide wealth management services in Canada. ANTYA manages institutional, and high net-worth client portfolios on a discretionary basis. Our investment philosophy embraces a Core-Satellite approach.  The core of the portfolio is chosen from a group of fifteen asset classes. A few stock specific asymmetrical investment opportunities comprise the satellite segment. ANTYA invests only in global, large capitalization, and investment grade companies.  

Event-Driven

<p>News headlines, President Trump’s tweets, rhetoric from China’s bureaucracy, and jittery investors have contributed to <a href="https://www.smartkarma.com/entities/9801" target="_blank" data-smartkarma-citation="entities:9801:1">NXP Semiconductors NV (NXPI US)</a> trading at a 20% discount to the price proposed  by Qualcomm to acquire the company. We believe investors should ignore the noise and take the plunge. There is a very high degree of probability that NXPI will provide sufficient risk-adjusted return in short order for the few brave souls who stick around till the end. With the U.S. lawmakers removing anti-ZTE measures from the defense bill, one of the last hurdles in the way of a successful culmination of the deal is out of the way.</p>

News headlines, President Trump’s tweets, rhetoric from China’s bureaucracy, and jittery investors have contributed to NXP Semiconductors NV (NXPI US) trading at a 20% discount to the price proposed  by Qualcomm to acquire the company. We believe investors should ignore the noise and take the plunge. There is a very high degree of probability that NXPI will provide sufficient risk-adjusted return in short order for the few brave souls who stick around till the end. With the U.S. lawmakers removing anti-ZTE measures from the defense bill, one of the last hurdles in the way of a successful culmination of the deal is out of the way.

NXP Semiconductors NV: Ignore the Noise, Go for It - Only Two More Days Left

Equity Bottom-Up

<p>In our opinion, <a href="https://www.smartkarma.com/entities/24409" target="_blank" data-smartkarma-citation="entities:24409:1">Xiaomi Corp's (1810 HK)</a> current valuation is disconnected from its fundamentals. Given regulatory setbacks in China, and a deluge of vested RSUs  about to hit the bourses, we believe a wait and watch approach will serve investors that are on the sidelines very well.</p>

In our opinion, Xiaomi Corp's (1810 HK) current valuation is disconnected from its fundamentals. Given regulatory setbacks in China, and a deluge of vested RSUs  about to hit the bourses, we believe a wait and watch approach will serve investors that are on the sidelines very well.

Xiaomi Corporation–Will Holders of Vested Options and RSUs Hold On? Billions Here or There Do Add Up

China

ZTE Corporation develops and markets switches, access servers, videoconferencing systems, mobile communication systems, data communication devices, and optical communication devices.  The Company also offers networking solutions for setup, refurbishment and optimization of networks.

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ZTE Corp H (763 HK)

China 5G Sector – Expect telecom names continue to show strength in broad market weakness

We expect China telcos to be the most favorable defensive picks with ample FCF, high dividend yield and potential share repo opportunities.

CMB International

India Accuses China’s Oppo of Evading $551 Million of Taxes

India’s tax authorities accused Chinese smartphone maker Oppo of evading customs duties totaling 43.89 billion rupees ($551 million)

Caixin Global

CX Daily: What We Know So Far About the Crash of Flight MU5735

China’s securities watchdog mulls move to break audit deadlock with U.S.; What we know so far about the crash of flight MU5735; The growing...

Caixin Global

NXP Semiconductors NV: Ignore the Noise, Go for It - Only Two More Days Left

News headlines, President Trump’s tweets, rhetoric from China’s bureaucracy, and jittery investors have contributed to NXP Semiconductors NV (NXPI...

ANTYA Investments

Xiaomi Corporation–Will Holders of Vested Options and RSUs Hold On? Billions Here or There Do Add Up

In our opinion, Xiaomi Corp's (1810 HK) current valuation is disconnected from its fundamentals. Given regulatory setbacks in China, and a deluge...

ANTYA Investments

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