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 monthly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>Consumer Staples ($962 million worth of outflows), Consumer Discretionary ($561 million worth of outflows) led the outflows (first chart below).</li>
<li>We highlight monthly outflows for CATL, Zhongji, Moutai, Wuliangye, Mindray.</li>
</ul>


We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.
Consumer Staples ($962 million worth of outflows), Consumer Discretionary ($561 million worth of outflows) led the outflows (first chart below).
We highlight monthly outflows for CATL, Zhongji, Moutai, Wuliangye, Mindray.


Northbound Flows (July): Two Months of Outflows

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Equity Bottom-Up

<ul>
<li>We tallied China renewable energy industry’s expansion overseas in June 2023 and recalibrated our result about one year after. </li>
<li>We see Chinese firm’s strategy of building capacities in the outskirt of US/Europe hard to defeat;</li>
<li>The negative is manufacturing job losses at home. We also find more local competition in solar PV invertors.</li>
</ul>


We tallied China renewable energy industry’s expansion overseas in June 2023 and recalibrated our result about one year after. 
We see Chinese firm’s strategy of building capacities in the outskirt of US/Europe hard to defeat;
The negative is manufacturing job losses at home. We also find more local competition in solar PV invertors.


[Blue Lotus New Energy Sector Update]: Rocky but Firm: China New Energy’s Venture Overseas

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>STAR 50 Index is a tech-focused, blue-chip index in Mainland China which tracks the top 50 largest and most liquid names in the STAR market of the Shanghai Stock Exchange.</li>
<li>In this insight, we take a look at our expectations for potential ADDs and DELs for the STAR 50 index during the September 2024 index rebal event.</li>
<li>We currently see two ADDs and two DELs for the STAR 50 index resulting in one-way flows of US$681mn.</li>
</ul>


STAR 50 Index is a tech-focused, blue-chip index in Mainland China which tracks the top 50 largest and most liquid names in the STAR market of the Shanghai Stock Exchange.
In this insight, we take a look at our expectations for potential ADDs and DELs for the STAR 50 index during the September 2024 index rebal event.
We currently see two ADDs and two DELs for the STAR 50 index resulting in one-way flows of US$681mn.


Quiddity Leaderboard STAR 50 Sep 24: Two Changes; US$681mn One-Way; New Trade Ideas

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Event-Driven

Cambricon Technologies  Lt / Event-Driven

<ul>
<li><em>The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.</em></li>
<li>Last week saw NORTHBOUND net SELL RMB 11.4bn of A-shares. NORTHBOUND sold everything. Seemed somewhat cap-weighted. Not a pretty flow picture. </li>
<li>A-Shares sharply underperformed HK indices, but AH spreads didn't recover the prior week's disaster. That said, there WAS dip-buying this week on the worst hit, which is unusual recently.</li>
</ul>


The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.
Last week saw NORTHBOUND net SELL RMB 11.4bn of A-shares. NORTHBOUND sold everything. Seemed somewhat cap-weighted. Not a pretty flow picture. 
A-Shares sharply underperformed HK indices, but AH spreads didn't recover the prior week's disaster. That said, there WAS dip-buying this week on the worst hit, which is unusual recently.


Mainland Connect NORTHBOUND Flows (To 19 July 2024): A Big Broad Sell in Third Plenum Week

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of July 26th.</li>
<li>We estimate the weekly outflows to be US$1,578.2 million, led by consumer staples, information technology, financials, and offset by consumer discretionary, health care, utilities.</li>
<li>We highlight flows for Zijin Mining, Moutai, CATL, Zhongji Innolight, Wuliangye, Boe Technology.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of July 26th.
We estimate the weekly outflows to be US$1,578.2 million, led by consumer staples, information technology, financials, and offset by consumer discretionary, health care, utilities.
We highlight flows for Zijin Mining, Moutai, CATL, Zhongji Innolight, Wuliangye, Boe Technology.


Northbound Flows (Jul 26th): Zijin Mining, Moutai, Zhongji Innolight, Wuliangye, Boe Technology

China

Contemporary Amperex Technology Co., Limited. operates as a battery products manufacturing company. The Company produces and sells power battery materials, energy storage batteries energy storage battery cells, systems, and other products. Contemporary Amperex Technology also provides batteries recycling services.

Contemporary Amperex Technology (CATL) (300750 CH)

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

Contemporary Amperex Technology (CATL) (300750 CH)

Northbound Flows (July): Two Months of Outflows

We analyzed the Shanghai/Shenzhen Connect Scheme for July and highlight outflows for CATL, Zhongji, Moutai, Wuliangye, Mindray.

Ke Yan, CFA, FRM

[Blue Lotus New Energy Sector Update]: Rocky but Firm: China New Energy’s Venture Overseas

Chinese renewable energy firms are expanding overseas, with a focus on building capacities near US/Europe, leading to job losses at home and...

Blue Lotus Research Institute

Quiddity Leaderboard STAR 50 Sep 24: Two Changes; US$681mn One-Way; New Trade Ideas

Today is the last day of the reference period for the STAR 50 September 2024 index rebal event. The expectations discussed in this insight are...

Janaghan Jeyakumar, CFA

Mainland Connect NORTHBOUND Flows (To 19 July 2024): A Big Broad Sell in Third Plenum Week

NORTHBOUND saw selling again, making the strong buying blip two weeks ago just that. Selling across the heavyweights as A-shares underperformed HK....

Travis Lundy

Northbound Flows (Jul 26th): Zijin Mining, Moutai, Zhongji Innolight, Wuliangye, Boe Technology

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Zijin Mining, Moutai, CATL, Zhongji Innolight,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Northbound Flows (July): Two Months of Outflows

We analyzed the Shanghai/Shenzhen Connect Scheme for July and highlight outflows for CATL, Zhongji, Moutai, Wuliangye, Mindray.

Ke Yan, CFA, FRM

[Blue Lotus New Energy Sector Update]: Rocky but Firm: China New Energy’s Venture Overseas

​Chinese renewable energy firms are expanding overseas, with a focus on building capacities near US/Europe, leading to job losses at home and...

Blue Lotus Research Institute

Quiddity Leaderboard STAR 50 Sep 24: Two Changes; US$681mn One-Way; New Trade Ideas

Today is the last day of the reference period for the STAR 50 September 2024 index rebal event. The expectations discussed in this insight are...

Janaghan Jeyakumar, CFA

Mainland Connect NORTHBOUND Flows (To 19 July 2024): A Big Broad Sell in Third Plenum Week

NORTHBOUND saw selling again, making the strong buying blip two weeks ago just that. Selling across the heavyweights as A-shares underperformed HK....

Travis Lundy

Northbound Flows (Jul 26th): Zijin Mining, Moutai, Zhongji Innolight, Wuliangye, Boe Technology

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Zijin Mining, Moutai, CATL, Zhongji Innolight,...

Ke Yan, CFA, FRM

Chinese renewable energy firms are expanding overseas, with a focus on building capacities near US/Europe, leading to job losses at home and...