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 Nov 7th 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 Cosco Shipping (1919 HK), China Feihe (6186 HK), Sinopec (386 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Xiaomi (1810 HK), China Feihe (6186 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Nov 7th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Cosco Shipping (1919 HK), China Feihe (6186 HK), Sinopec (386 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Xiaomi (1810 HK), China Feihe (6186 HK).


Hong Kong Buybacks Weekly (Nov 7th): Cosco Shipping, China Feihe, Sinopec

HK/China Equity Long-Short

Osbert Tang, CFA

Thematic (Sector/Industry)

<ul>
<li>Excluding an outlier, our coverage universe is expected to witness a 56.6% YoY earnings growth in 4Q25, rapidly accelerating from the previous quarter.</li>
<li>Stocks with the best growth are <a href="https://www.smartkarma.com/entities/xinjiang-goldwind-science-technology-h" target="_blank" data-smartkarma-citation="entities:10112:1" rel="noopener">Xinjiang Goldwind (2208 HK)</a>, <a href="https://www.smartkarma.com/entities/sany-heavy-equipment-intl" target="_blank" data-smartkarma-citation="entities:11104:1" rel="noopener">Sany Heavy Equip. (631 HK)</a>, <a href="https://www.smartkarma.com/entities/dongfang-electric-corporation-limited" target="_blank" data-smartkarma-citation="entities:1251:1" rel="noopener">Dongfang Electric (1072 HK)</a>, <a href="https://www.smartkarma.com/entities/china-tourism-group-duty-free" target="_blank" data-smartkarma-citation="entities:36229:1" rel="noopener">CTG Duty Free (1880 HK)</a>, and <a href="https://www.smartkarma.com/entities/cosco-shipping-energy-tran-h" target="_blank" data-smartkarma-citation="entities:646:1" rel="noopener">Cosco Shipping Energy (1138 HK)</a>.. </li>
<li>
<a href="https://www.smartkarma.com/entities/china-international-capital-corporation-ltd" target="_blank" data-smartkarma-citation="entities:1071:1" rel="noopener">CICC (3908 HK)</a>, <a href="https://www.smartkarma.com/entities/china-national-building-ma-h" target="_blank" data-smartkarma-citation="entities:184:1" rel="noopener">CNBM (3323 HK)</a>, <a href="https://www.smartkarma.com/entities/shanghai-electric-group-company-limited-d542164d-4d5a-4ce0-b33e-5fe6bc34722c" target="_blank" data-smartkarma-citation="entities:8777:1" rel="noopener">Shanghai Electric (2727 HK)</a>, <a href="https://www.smartkarma.com/entities/sinotrans-limited-h" target="_blank" data-smartkarma-citation="entities:1321:1" rel="noopener">Sinotrans (598 HK)</a>, <a href="https://www.smartkarma.com/entities/anjoy-foods-group" target="_blank" data-smartkarma-citation="entities:44280:1" rel="noopener">Anjoy Foods (2648 HK)</a>, <a href="https://www.smartkarma.com/entities/cosco-shipping-ports-ltd" target="_blank" data-smartkarma-citation="entities:360:1" rel="noopener">Cosco Shipping Ports (1199 HK)</a>, and <a href="https://www.smartkarma.com/entities/haier-smart-home-co-ltd-b3ef445f-0f54-4586-8c58-9073de98d60e" target="_blank" data-smartkarma-citation="entities:31105:1" rel="noopener">Haier Smart Home (6690 HK)</a> may upgrade. </li>
</ul>


Excluding an outlier, our coverage universe is expected to witness a 56.6% YoY earnings growth in 4Q25, rapidly accelerating from the previous quarter.
Stocks with the best growth are Xinjiang Goldwind (2208 HK), Sany Heavy Equip. (631 HK), Dongfang Electric (1072 HK), CTG Duty Free (1880 HK), and Cosco Shipping Energy (1138 HK).. 

CICC (3908 HK), CNBM (3323 HK), Shanghai Electric (2727 HK), Sinotrans (598 HK), Anjoy Foods (2648 HK), Cosco Shipping Ports (1199 HK), and Haier Smart Home (6690 HK) may upgrade. 


China & HK Strategy: Stock Implications for 4Q25

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Oct 31st 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 HSBC (5 HK), China Feihe (6186 HK), Lianlian (2598 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Xiaomi (1810 HK), Linklogis (9959 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Oct 31st based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were HSBC (5 HK), China Feihe (6186 HK), Lianlian (2598 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Xiaomi (1810 HK), Linklogis (9959 HK).


Hong Kong Buybacks Weekly (Oct 31st): HSBC, China Feihe, Lianlian

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Oct 24th 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 Xiaomi (1810 HK), China Mengniu Dairy (2319 HK), Linklogis (9959 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Xiaomi (1810 HK), Anta (2020 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Oct 24th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Xiaomi (1810 HK), China Mengniu Dairy (2319 HK), Linklogis (9959 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Xiaomi (1810 HK), Anta (2020 HK).


Hong Kong Buybacks Weekly (Oct 24th): Xiaomi, China Mengniu Dairy, Linklogis

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Oct 17th 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 Xiaomi (1810 HK), Tencent (700 HK), Shoucheng (697 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Anta (2020 HK), Xiaomi (1810 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Oct 17th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Xiaomi (1810 HK), Tencent (700 HK), Shoucheng (697 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Anta (2020 HK), Xiaomi (1810 HK).


Hong Kong Buybacks Weekly (Oct 17th): Xiaomi, Tencent, Shoucheng

China

China National Building Material Company Limited manufactures cement products. The Company produces silica cements, commodity concretes, cement clinkers, and other products. China National Building Material also produces glass fibers, composite materials, and other products.

China National Building Material (3323 HK)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

China National Building Material (3323 HK)

Hong Kong Buybacks Weekly (Nov 7th): Cosco Shipping, China Feihe, Sinopec

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

Ke Yan, CFA, FRM

China & HK Strategy: Stock Implications for 4Q25

Expect a 56.6% YoY profit growth in 4Q25 for our coverage universe, with top growth stocks being Xinjiang Goldwind, Sany Heavy Equipment, Dongfang...

Osbert Tang, CFA

Hong Kong Buybacks Weekly (Oct 31st): HSBC, China Feihe, Lianlian

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were HSBC (5 HK), China...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Oct 24th): Xiaomi, China Mengniu Dairy, Linklogis

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Xiaomi (1810 HK),...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Oct 17th): Xiaomi, Tencent, Shoucheng

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Xiaomi (1810 HK),...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Buybacks Weekly (Nov 7th): Cosco Shipping, China Feihe, Sinopec

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

Ke Yan, CFA, FRM

China & HK Strategy: Stock Implications for 4Q25

​Expect a 56.6% YoY profit growth in 4Q25 for our coverage universe, with top growth stocks being Xinjiang Goldwind, Sany Heavy Equipment, Dongfang...

Osbert Tang, CFA

Hong Kong Buybacks Weekly (Oct 31st): HSBC, China Feihe, Lianlian

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were HSBC (5 HK), China...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Oct 24th): Xiaomi, China Mengniu Dairy, Linklogis

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Xiaomi (1810 HK),...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Oct 17th): Xiaomi, Tencent, Shoucheng

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Xiaomi (1810 HK),...

Ke Yan, CFA, FRM

Expect a 56.6% YoY profit growth in 4Q25 for our coverage universe, with top growth stocks being Xinjiang Goldwind, Sany Heavy Equipment, Dongfang...