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

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight flows of Xiaomi, Pop Mart Intl, CNOOC, Meituan, Zijin Gold International.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight flows of Xiaomi, Pop Mart Intl, CNOOC, Meituan, Zijin Gold International.


Hong Kong Connect Flows (October): $792m Outflows from Healthcare

<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

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wuxi-apptec-co-ltd-bf4a1265-beef-48b6-b82d-29308426030f" target="_blank" data-smartkarma-citation="entities:27795:1" rel="noopener">WuXi AppTec (2359 HK)</a> has announced 3Q25 result, with revenue growing 15% YoY and net profit increasing 83% YoY. U.S. remains the main driving force behind the company’s strong performance.</li>
<li>With continuous capacity expansion to better meet customer demand, backlog for continuing operations reached a record high of RMB60B as of September 30, 2025, up 41% YoY.</li>
<li>Based on the current momentum and confidence in customers’ ongoing demand for enabling services, Wuxi AppTec has further raised its full-year revenue growth guidance to 17–18% from 13–17%.</li>
</ul>



WuXi AppTec (2359 HK) has announced 3Q25 result, with revenue growing 15% YoY and net profit increasing 83% YoY. U.S. remains the main driving force behind the company’s strong performance.
With continuous capacity expansion to better meet customer demand, backlog for continuing operations reached a record high of RMB60B as of September 30, 2025, up 41% YoY.
Based on the current momentum and confidence in customers’ ongoing demand for enabling services, Wuxi AppTec has further raised its full-year revenue growth guidance to 17–18% from 13–17%.


WuXi AppTec (2359 HK): Continued Strong Momentum in 3Q Leads to Consecutive FY Guidance Raise

<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

China

WuXi Biologics (Cayman) Inc. is a leading open-access R&D capability and technology platform company serving the pharmaceutical, biotechnology, and medical device industries, with operations in China, U.S., and Iceland.  We provide a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process.  Our services are designed to help our global partners in shortening the cycle and lowering the cost of drug and medical device R&D through cost-effective and efficient solutions. 

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Wuxi Biologics (2269 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

Hong Kong Connect Flows (October): $792m Outflows from Healthcare

We estimated the inflows to Hong Kong stocks from mainland investors to be USD 11bn in October and noted outflows of $792m from Healthcare sector.

Ke Yan, CFA, FRM

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

WuXi AppTec (2359 HK): Continued Strong Momentum in 3Q Leads to Consecutive FY Guidance Raise

WuXi AppTec reports 3Q25 results with revenue up 15% YoY and net profit up 83% YoY, driven by U.S. operations. Backlog reached new high, leading...

Tina Banerjee

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

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

Hong Kong Connect Flows (October): $792m Outflows from Healthcare

We estimated the inflows to Hong Kong stocks from mainland investors to be USD 11bn in October and noted outflows of $792m from Healthcare sector.

Ke Yan, CFA, FRM

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

WuXi AppTec (2359 HK): Continued Strong Momentum in 3Q Leads to Consecutive FY Guidance Raise

​WuXi AppTec reports 3Q25 results with revenue up 15% YoY and net profit up 83% YoY, driven by U.S. operations. Backlog reached new high, leading...

Tina Banerjee

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

WuXi AppTec reports 3Q25 results with revenue up 15% YoY and net profit up 83% YoY, driven by U.S. operations. Backlog reached new high, leading...