Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Quiddity Advisors

Equity Bottom-Up

China Unicom Hong Kong / Equity Bottom-Up

Last Wednesday (12 August), after the close of trading, <a href="https://www.smartkarma.com/entities/china-unicom-hong-kong-ltd" target="_blank" data-smartkarma-citation="entities:1016:1" rel="noopener">China Unicom Hong Kong (762 HK)</a> announced its <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0812/2020081200403.pdf" target="_blank" rel="noopener">1H20</a> results, in which revenues increased 3.8% yoy to RMB150.4bn, and net profit increased by 10.1% yoy to RMB7.6bn. A decent set of numbers all round. Yet shares closed the next day up 25.6%, on 10x the normal volume. 
Operational stats released on the <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0720/2020072000520.pdf" target="_blank" rel="noopener">20 July</a>, returned positive net adds for mobile ops in June, yet net adds are still down YTD. 
For a quick comparative check. <a href="https://www.smartkarma.com/entities/china-mobile-ltd" target="_blank" data-smartkarma-citation="entities:27:1" rel="noopener">China Mobile (941 HK)</a> announced its 1H20 results on the <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0813/2020081300209.pdf" target="_blank" rel="noopener">13 August</a> (at lunchtime), with top-line growing 0.1% yoy to RMB38.9bn, and profit down 0.5% to RMB55.8bn. Share closed up 3.6% on the fourth-highest volume this year.
<a href="https://www.smartkarma.com/entities/china-united-network-a" target="_blank" data-smartkarma-citation="entities:12620:1" rel="noopener">China United Network A (600050 CH)</a>, Unicom's largest shareholder, is not Unicom's domestic A-share twin. Yet for all intent and purpose, it is a pseudo-A to Unicom's H as there are no parent/stub assets of consequence. 
Despite the significant share price gain, Unicom looks inexpensive with respect to its parent and to peers.

Last Wednesday (12 August), after the close of trading, China Unicom Hong Kong (762 HK) announced its 1H20 results, in which revenues increased 3.8% yoy to RMB150.4bn, and net profit increased by 10.1% yoy to RMB7.6bn. A decent set of numbers all round. Yet shares closed the next day up 25.6%, on 10x the normal volume. 
Operational stats released on the 20 July, returned positive net adds for mobile ops in June, yet net adds are still down YTD. 
For a quick comparative check. China Mobile (941 HK) announced its 1H20 results on the 13 August (at lunchtime), with top-line growing 0.1% yoy to RMB38.9bn, and profit down 0.5% to RMB55.8bn. Share closed up 3.6% on the fourth-highest volume this year.
China United Network A (600050 CH), Unicom's largest shareholder, is not Unicom's domestic A-share twin. Yet for all intent and purpose, it is a pseudo-A to Unicom's H as there are no parent/stub assets of consequence. 
Despite the significant share price gain, Unicom looks inexpensive with respect to its parent and to peers.

China Unicom Hong Kong

China Unicom (762 HK): The "Hs" Have It