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 26th 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 Meituan (3690 HK), AIA (1299 HK), HSBC (5 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Meituan (3690 HK), AIA (1299 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jul 26th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Meituan (3690 HK), AIA (1299 HK), HSBC (5 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Meituan (3690 HK), AIA (1299 HK).


Hong Kong Buybacks Weekly (Jul 26th): Meituan, Aia, Hsbc

China New Economy Equity Analyst, Blue Lotus Research Institute

Robert McKay

China New Economy Equity Analyst

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

Thematic (Sector/Industry)

<ul>
<li>US semiconductor restrictions are limiting China's access to advanced AI accelerators, causing a widening gap in AI compute. The US will expand its lead over China to ~7x by 2025.</li>
<li>Although China has domestic alternatives, bottlenecks due to separate US restrictions on semiconductor equipment are hindering yields and capacity expansions, effectively limiting China’s capacity to train state-of-the-art AI models.</li>
<li>To maximize AI compute, Huawei will likely curtail smartphone semiconductors in favor of AI accelerators. We expect manufacturers offering mid-end Android devices like <a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi Corp (1810 HK)</a> to benefit first.</li>
</ul>


US semiconductor restrictions are limiting China's access to advanced AI accelerators, causing a widening gap in AI compute. The US will expand its lead over China to ~7x by 2025.
Although China has domestic alternatives, bottlenecks due to separate US restrictions on semiconductor equipment are hindering yields and capacity expansions, effectively limiting China’s capacity to train state-of-the-art AI models.
To maximize AI compute, Huawei will likely curtail smartphone semiconductors in favor of AI accelerators. We expect manufacturers offering mid-end Android devices like Xiaomi Corp (1810 HK) to benefit first.


Demand for AI Chips Might Cut Huawei's Smartphone Semiconductor Short

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.

News from Caixin

Cross Asset Strategy

<ul><li>Insurers / In Depth: Electric cars are draining the batteries of China’s insurers</li><li>Plenum /Plenum Explained: China to combat cross-border corruption, improve constitutional review</li><li>Personnel /: Communist Party creates financial graft-busting committee</li></ul>

Insurers / In Depth: Electric cars are draining the batteries of China’s insurersPlenum /Plenum Explained: China to combat cross-border corruption, improve constitutional reviewPersonnel /: Communist Party creates financial graft-busting committee

CX Daily: Electric Cars Are Draining the Batteries of China’s Insurers 

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

<ul>
<li>Macro News Update: Our take from the decision draft of the CCP 3rd Plenary Session</li>
<li>1519 HK/ZTO US: Weekly parcel volume shows 31% y-o-y growth (+)</li>
<li>1810 HK/981 HK: Huawei’s mid-premium Nova 13 smartphone to be delayed (+//)</li>
</ul>


Macro News Update: Our take from the decision draft of the CCP 3rd Plenary Session
1519 HK/ZTO US: Weekly parcel volume shows 31% y-o-y growth (+)
1810 HK/981 HK: Huawei’s mid-premium Nova 13 smartphone to be delayed (+//)


[Blue Lotus Daily]:1519 HK/ZTO US/1810 HK/981 HK/XPEV US/LI US/NIO US/QCOM US/TSMC US

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Equity Bottom-Up

Sunny Optical Technology Group / Equity Bottom-Up

<ul>
<li>The Hong Kong market trades about 30% below analysts' estimated 12 month target price.</li>
<li>Analysts are raising forecasts for<a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi Corp (1810 HK)</a> as it meets success with new phone rollouts and its EV business.  </li>
<li>
<a href="https://www.smartkarma.com/entities/sunny-optical-technology-group" target="_blank" data-smartkarma-citation="entities:13363:1" rel="noopener">Sunny Optical Technology Group (2382 HK)</a> had a positive profit alert and <a href="https://www.smartkarma.com/entities/minth-group-ltd" target="_blank" data-smartkarma-citation="entities:9232:1" rel="noopener">Minth Group Ltd (425 HK)</a> is showing growth in its international business. Both are rated BUY from analysts.</li>
</ul>


The Hong Kong market trades about 30% below analysts' estimated 12 month target price.
Analysts are raising forecasts forXiaomi Corp (1810 HK) as it meets success with new phone rollouts and its EV business.  

Sunny Optical Technology Group (2382 HK) had a positive profit alert and Minth Group Ltd (425 HK) is showing growth in its international business. Both are rated BUY from analysts.


BUY/SELL/HOLD: Hong Kong Stock Updates (July 22)

China

Xiaomi Corporation manufactures communication equipment and parts. The Company produces and sells mobile phones, smart phone software,  set-top boxes, and related accessories. Xiaomi markets its products worldwide.

Price Gauge
52-week Range	0.00 - 0.00
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Xiaomi (1810 HK)

Hong Kong Buybacks Weekly (Jul 26th): Meituan, Aia, Hsbc

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Meituan (3690 HK),...

Ke Yan, CFA, FRM

Demand for AI Chips Might Cut Huawei's Smartphone Semiconductor Short

US AI accelerator and wafer equipment restrictions are widening the US/China AI compute gap. Expect Huawei to curtail smartphone IC in favor of AI...

Blue Lotus Research Institute

CX Daily: Electric Cars Are Draining the Batteries of China’s Insurers

Insurers / In Depth: Electric cars are draining the batteries of China’s insurers China’s rapid adoption of new-energy vehicles (NEVs) is posing a...

Caixin Global

[Blue Lotus Daily]:1519 HK/ZTO US/1810 HK/981 HK/XPEV US/LI US/NIO US/QCOM US/TSMC US

CCP 3rd Plenary Session decision draft analyzed; parcel volume growth for HK/ZTO and Huawei's Nova 13 smartphone delay.

Blue Lotus Research Institute

BUY/SELL/HOLD: Hong Kong Stock Updates (July 22)

Xiaomi launches its new AI enabled phone and has success in EVs. Sunny Optical has seen its auto lens business grow and Minth is successfully...

David Mudd

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Buybacks Weekly (Jul 26th): Meituan, Aia, Hsbc

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Meituan (3690 HK),...

Ke Yan, CFA, FRM

Demand for AI Chips Might Cut Huawei's Smartphone Semiconductor Short

​US AI accelerator and wafer equipment restrictions are widening the US/China AI compute gap. Expect Huawei to curtail smartphone IC in favor of AI...

Blue Lotus Research Institute

CX Daily: Electric Cars Are Draining the Batteries of China’s Insurers

Insurers / In Depth: Electric cars are draining the batteries of China’s insurers China’s rapid adoption of new-energy vehicles (NEVs) is posing a...

Caixin Global

[Blue Lotus Daily]:1519 HK/ZTO US/1810 HK/981 HK/XPEV US/LI US/NIO US/QCOM US/TSMC US

​CCP 3rd Plenary Session decision draft analyzed; parcel volume growth for HK/ZTO and Huawei's Nova 13 smartphone delay.

Blue Lotus Research Institute

BUY/SELL/HOLD: Hong Kong Stock Updates (July 22)

Xiaomi launches its new AI enabled phone and has success in EVs. Sunny Optical has seen its auto lens business grow and Minth is successfully...

David Mudd

US AI accelerator and wafer equipment restrictions are widening the US/China AI compute gap. Expect Huawei to curtail smartphone IC in favor of AI...

CCP 3rd Plenary Session decision draft analyzed; parcel volume growth for HK/ZTO and Huawei's Nova 13 smartphone delay.