In today’s briefing:
- DPC Dash (1405 HK): Strong 2Q Data Pointing to Underappreciated Growth and Margin Potential
- Cutting-Edge Drugmaker Biokin Taps Hong Kong Market to Fund Foray Aboard
- Time To Look Abroad?
DPC Dash (1405 HK): Strong 2Q Data Pointing to Underappreciated Growth and Margin Potential
- The company’ share bucked China catering sector’s down trend and rallied 30% in last few weeks.
- Its 2Q operating data suggest that its store opening is well on track with healthy SSSG, underpinning strong margin expansion.
- We believe that market still underestimates its growth and earnings potential which could beat consensus by wide margin. Interim results to be announced in August will be key catalyst.
Cutting-Edge Drugmaker Biokin Taps Hong Kong Market to Fund Foray Aboard
- Chinese innovative drugmaker Sichuan Biokin Pharmaceutical Co. Ltd. has filed with the Hong Kong Stock Exchange for an initial public offering (IPO) in an effort to tap fresh funding to support new drug development and overseas expansion.
- Biokin, already listed in Shanghai, did not disclose the target size of its Hong Kong offering. According to its preliminary prospectus, Goldman Sachs Group Inc., JPMorgan Chase & Co., and Citic Securities Co. Ltd. are joint sponsors for the share sale.
- Founded in 1996, Biokin began as a producer of chemical generic drugs and proprietary Chinese medicines. The company has since 2011 moved on to novel biological drugs, focusing on antibody-drug conjugates (ADCs) for cancer treatment.
Time To Look Abroad?
- US markets suffered a bearish reversal on CPI data. Time look to elsewhere?
- China looks to be bottoming. Could the region begin to show relative strength?
- Emerging markets look particularly attractive especially if the dollar trades lower.
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