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 the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of October 19th.</li>
<li>We estimate the weekly outflows to be US$3,259.2 million, led by materials, industrials, and offset by consumer discretionary, utilities.</li>
<li>We highlight flows for BYD, Chongqing Changan Automobile, Zhongji Innolight, Moutai, Wuliangye, Ping An Insurance, CATL, Haitian Flavouring, Longi Green, CMB.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of October 19th.
We estimate the weekly outflows to be US$3,259.2 million, led by materials, industrials, and offset by consumer discretionary, utilities.
We highlight flows for BYD, Chongqing Changan Automobile, Zhongji Innolight, Moutai, Wuliangye, Ping An Insurance, CATL, Haitian Flavouring, Longi Green, CMB.


Northbound Flows (Oct 19th): BYD, Changan Auto, Zhongji Innolight, Moutai, Wuliangye

<ul>
<li>We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 120.6% as of Oct 20th.</li>
<li>The average A-H premium changed by 2.0ppt week on week, led by consumer staples, financials, industrials and offset by information technology, communication services, consumer discretionary.</li>
<li>We highlight weekly changes in A-H premium for Postal Savings, Byd and CICC.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 120.6% as of Oct 20th.
The average A-H premium changed by 2.0ppt week on week, led by consumer staples, financials, industrials and offset by information technology, communication services, consumer discretionary.
We highlight weekly changes in A-H premium for Postal Savings, Byd and CICC.


A-H Premium Weekly (Oct 20th): Postal Savings, Byd, CICC

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Oct 13th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Wuxi Bio, AIA and Bidu.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Oct 13th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Wuxi Bio, AIA and Bidu.


HK Short Interest Weekly: Wuxi Bio, AIA, Bidu

ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Cross Asset Strategy

<ul>
<li>Indonesia's election race is about to begin with the Presidential candidates announcing running mates on 26th October and with campaigns that could boost consumer demand. </li>
<li>The Indonesian economy should see GDP growth above 5% in 2023 and 2024, with inflation already under control at 2.28% in September. FDI remains positive although may slow before elections. </li>
<li>We explore the prospects for different sectors with a positive view on banks, retail, consumer staples, property, and <a href="https://www.smartkarma.com/entities/astra-international-tbk-pt" target="_blank" data-smartkarma-citation="entities:46:1" rel="noopener">Astra International</a> as a market proxy, with some opportunities in tech.</li>
</ul>


Indonesia's election race is about to begin with the Presidential candidates announcing running mates on 26th October and with campaigns that could boost consumer demand. 
The Indonesian economy should see GDP growth above 5% in 2023 and 2024, with inflation already under control at 2.28% in September. FDI remains positive although may slow before elections. 
We explore the prospects for different sectors with a positive view on banks, retail, consumer staples, property, and Astra International as a market proxy, with some opportunities in tech.


Indonesian Strategy - Election Race Hots Up Amidst Profits Recovery

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of October 13th.</li>
<li>We estimate the weekly outflows to be US$1,898.6 million, led by industrials, information technology, and offset by consumer discretionary, health care.</li>
<li>We highlight flows for Longi Green, China Tourism, Iflytek, Ping An Insurance.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of October 13th.
We estimate the weekly outflows to be US$1,898.6 million, led by industrials, information technology, and offset by consumer discretionary, health care.
We highlight flows for Longi Green, China Tourism, Iflytek, Ping An Insurance.


Northbound Flows (Oct 13th): Longi Green, China Tourism, Iflytek, Ping An Insurance

China

BYD Company Limited, through its subsidiaries, manufactures and sells automobiles. The Company also researches, develops, manufactures and sells batteries, which are applied on mobile phones, cordless phones, power tools and other kinds of portable electronic devices.

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BYD (1211 HK)

Northbound Flows (Oct 19th): BYD, Changan Auto, Zhongji Innolight, Moutai, Wuliangye

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for BYD, Chongqing Changan Automobile, Zhongji...

Ke Yan, CFA, FRM

A-H Premium Weekly (Oct 20th): Postal Savings, Byd, CICC

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Postal Savings, Byd and China International Capital Corp.

Ke Yan, CFA, FRM

HK Short Interest Weekly: Wuxi Bio, AIA, Bidu

We analyzed the latest HK SFC report for aggregate short position as of Oct 13th and highlight short interest changes in Wuxi Bio, AIA, Bidu.

Ke Yan, CFA, FRM

Indonesian Strategy - Election Race Hots Up Amidst Profits Recovery

We explore the prospects across different sectors in Indonesia with a positive view on banks, retail, consumer staples, property, and Astra...

Angus Mackintosh

Northbound Flows (Oct 13th): Longi Green, China Tourism, Iflytek, Ping An Insurance

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Longi Green, China Tourism, Iflytek, Ping An...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)