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.

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Cross Asset Strategy

<ul><li>Competition / In Depth: China intensifies war on toxic competition as economy suffers</li><li>IPOs /In Depth: China reopens the door for loss-making tech startups to go public</li><li>Energy /: Massive new hydropower dam in Xizang won’t harm downstream nations, China says</li></ul>

Competition / In Depth: China intensifies war on toxic competition as economy suffersIPOs /In Depth: China reopens the door for loss-making tech startups to go publicEnergy /: Massive new hydropower dam in Xizang won’t harm downstream nations, China says

CX Daily: China Intensifies War on Toxic Competition as Economy Suffers 

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 analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jul 25th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were China Eastern Airlines (670 HK), Yum China (9987 HK), Vitasoy (345 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Wuxi Biologics (2269 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jul 25th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were China Eastern Airlines (670 HK), Yum China (9987 HK), Vitasoy (345 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Wuxi Biologics (2269 HK).


Hong Kong Buybacks Weekly (Jul 25th): China Eastern Airlines, Yum China, Vitasoy International

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

Contemporary Amperex Technology (CATL) / Equity Capital Markets

<ul>
<li>With a spate of A/H listings already done in the first half and a lot more in the pipeline, we look at some of the trends from the recent listings.</li>
<li>In this note, we will also talk about how the A/H premiums have moved since our last note in March 2025.</li>
<li>Overall, recent A/H listings have somewhat reversed the trend of past A/H listings not doing much in the near term, with a few exceptions.</li>
</ul>


With a spate of A/H listings already done in the first half and a lot more in the pipeline, we look at some of the trends from the recent listings.
In this note, we will also talk about how the A/H premiums have moved since our last note in March 2025.
Overall, recent A/H listings have somewhat reversed the trend of past A/H listings not doing much in the near term, with a few exceptions.


A/H Premiums & Recent Listings Performance-Changing Trends but Quality Matters More than the Premium

<ul><li>AI / In Depth: AI foray is teaching China’s edtech firms a valuable lesson</li><li>Wells Fargo /: Wells Fargo executive barred from leaving China amid criminal probe</li><li>Tax /: Chinese investors face 20% tax bill on offshore trading profits</li></ul>

AI / In Depth: AI foray is teaching China’s edtech firms a valuable lessonWells Fargo /: Wells Fargo executive barred from leaving China amid criminal probeTax /: Chinese investors face 20% tax bill on offshore trading profits

CX Daily: AI Foray Is Teaching China’s Edtech Firms a Valuable Lesson 

Equity Bottom-Up

<ul>
<li>China announced game approval for the July batch. The number of games approved remained at a higher level than 2023.</li>
<li>The pace of China game approval appears to have accelerated to the same level as pre-tightening.</li>
<li>In July, 7 listed companies that we tracked received zero domestic game approval. Having said that, overall sentiment is improving and gaming names have performed well YTD.</li>
</ul>


China announced game approval for the July batch. The number of games approved remained at a higher level than 2023.
The pace of China game approval appears to have accelerated to the same level as pre-tightening.
In July, 7 listed companies that we tracked received zero domestic game approval. Having said that, overall sentiment is improving and gaming names have performed well YTD.


China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

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Tencent Holdings (ADR) (TCEHY US)

CX Daily: China Intensifies War on Toxic Competition as Economy Suffers

Competition / In Depth: China intensifies war on toxic competition as economy suffers IPOs /In Depth: China reopens the door for loss-making tech...

Caixin Global

Hong Kong Buybacks Weekly (Jul 25th): China Eastern Airlines, Yum China, Vitasoy International

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were China Eastern...

Ke Yan, CFA, FRM

A/H Premiums & Recent Listings Performance-Changing Trends but Quality Matters More than the Premium

With a spate of A/H listings already done in the first half and a lot more in the pipeline, we look at some of the trends from the recent listings.

Sumeet Singh

CX Daily: AI Foray Is Teaching China’s Edtech Firms a Valuable Lesson

TOP STORIES AI / In Depth: AI foray is teaching China’s edtech firms a valuable lesson In recent years, tutoring apps powered by artificial...

Caixin Global

Tencent/Netease: Zero Approval in July

China's game approvals in July remain high. Despite zero approvals for companies that we track, sentiment is improving and stocks are performing...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

CX Daily: China Intensifies War on Toxic Competition as Economy Suffers

Competition / In Depth: China intensifies war on toxic competition as economy suffers IPOs /In Depth: China reopens the door for loss-making tech...

Caixin Global

Hong Kong Buybacks Weekly (Jul 25th): China Eastern Airlines, Yum China, Vitasoy International

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were China Eastern...

Ke Yan, CFA, FRM

A/H Premiums & Recent Listings Performance-Changing Trends but Quality Matters More than the Premium

With a spate of A/H listings already done in the first half and a lot more in the pipeline, we look at some of the trends from the recent listings.

Sumeet Singh

CX Daily: AI Foray Is Teaching China’s Edtech Firms a Valuable Lesson

TOP STORIES AI / In Depth: AI foray is teaching China’s edtech firms a valuable lesson In recent years, tutoring apps powered by artificial...

Caixin Global

Tencent/Netease: Zero Approval in July

​China's game approvals in July remain high. Despite zero approvals for companies that we track, sentiment is improving and stocks are performing...

Ke Yan, CFA, FRM

China's game approvals in July remain high. Despite zero approvals for companies that we track, sentiment is improving and stocks are performing...