Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

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Thematic (Sector/Industry)

<ul>
<li>Chinese smartphone-makers are increasingly outsourcing production to Indian contract manufacturers to avoid running afoul of regulators in the South Asian country as it aims to become a global manufacturing hub, an industry analyst said.</li>
<li>As of the first quarter of this year, Chinese smartphone-makers had handed over about 66% of assembly work to manufacturing partners that are involved in New Delhi’s Production-Linked Incentive (PLI) scheme, said Prachir Singh, a senior analyst at Counterpoint Research.</li>
<li>Launched in 2020, the PLI scheme is a strategic initiative designed to bolster domestic manufacturing and reduce dependence on imports.</li>
</ul>


Chinese smartphone-makers are increasingly outsourcing production to Indian contract manufacturers to avoid running afoul of regulators in the South Asian country as it aims to become a global manufacturing hub, an industry analyst said.
As of the first quarter of this year, Chinese smartphone-makers had handed over about 66% of assembly work to manufacturing partners that are involved in New Delhi’s Production-Linked Incentive (PLI) scheme, said Prachir Singh, a senior analyst at Counterpoint Research.
Launched in 2020, the PLI scheme is a strategic initiative designed to bolster domestic manufacturing and reduce dependence on imports.


After India’s Crackdowns, Chinese Phone Brands Outsource More Manufacturing to Locals 

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

ZhongAn Online P&C Insurance C / Event-Driven

<ul>
<li>Gross SOUTHBOUND volumes up to US$15+bn a day this past 5-day week. Net buying still positive but still below US$500mm/day.</li>
<li>Among the top buys as a percentage of volume, FINANCIALS stood out, dramatically. PROPERTIES too. Among top sells, INFO TECH again. 10 weeks in a row negative. Tencent bigly sold.</li>
<li>The data tables below update on a daily basis in the <a href="https://www.smartkarma.com/tools" target="_blank" rel="noopener">Tools</a> section of Smartkarma. The <a href="https://www.smartkarma.com/tools/quiddity/south-flow-monitor" target="_blank" rel="noopener">SOUTHBOUND Flow Monitor</a> and <a href="https://www.smartkarma.com/tools/quiddity/ah-shares-monitor" target="_blank" rel="noopener">AH Monitor</a> are both there free for SK readers.</li>
</ul>


Gross SOUTHBOUND volumes up to US$15+bn a day this past 5-day week. Net buying still positive but still below US$500mm/day.
Among the top buys as a percentage of volume, FINANCIALS stood out, dramatically. PROPERTIES too. Among top sells, INFO TECH again. 10 weeks in a row negative. Tencent bigly sold.
The data tables below update on a daily basis in the Tools section of Smartkarma. The SOUTHBOUND Flow Monitor and AH Monitor are both there free for SK readers.


HK Connect SOUTHBOUND Flows (To 20 June 2025); Net Buying, Volumes Up, TECH Down, BANKS Bought

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 analyzed the latest HK SFC report for aggregate short position as of Jun 13th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Beke, Zijin Mining, Wuxi Apptec, AIA, Tencent, BYD, Li Auto.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jun 13th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Beke, Zijin Mining, Wuxi Apptec, AIA, Tencent, BYD, Li Auto.


HK Short Interest Weekly: Beke, Zijin Mining, Wuxi Apptec, AIA, Tencent, BYD, Li Auto

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of June 20th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for CCB, Meituan, CMB, China Life, Ke, Tencent, Alibaba, Xiaomi, CNOOC, HKEx.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of June 20th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for CCB, Meituan, CMB, China Life, Ke, Tencent, Alibaba, Xiaomi, CNOOC, HKEx.


HK Connect Flows Weekly (Jun 20th): CCB, Meituan, CMB, China Life, Ke, Tencent, Alibaba, Xiaomi

HK/China Equity Long-Short

Osbert Tang, CFA

<ul>
<li>The "Buy the worst" basket has outperformed the HSI by a massive 16.7pp YTD, mainly boosted by <a href="https://www.smartkarma.com/entities/chow-tai-fook-jewellery-group" target="_blank" data-smartkarma-citation="entities:549:1" rel="noopener">Chow Tai Fook Jewellery (1929 HK)</a> and <a href="https://www.smartkarma.com/entities/wuxi-apptec" target="_blank" data-smartkarma-citation="entities:23679:1" rel="noopener">Wuxi Biologics (2269 HK)</a>. </li>
<li>The best-performing constituents in 2024, however, lagged behind the HSI, dragged down by <a href="https://www.smartkarma.com/entities/trip-com-group-ltd-23a341d0-4f63-4175-a8c5-ee990906cacd" target="_blank" data-smartkarma-citation="entities:36424:1" rel="noopener">Trip.com Group (9961 HK)</a> and <a href="https://www.smartkarma.com/entities/meituan" target="_blank" data-smartkarma-citation="entities:26970:1" rel="noopener">Meituan (3690 HK)</a>. </li>
<li>Government's consumption boost should benefit <a href="https://www.smartkarma.com/entities/chow-tai-fook-jewellery-group" target="_blank" data-smartkarma-citation="entities:549:1" rel="noopener">Chow Tai Fook Jewellery (1929 HK)</a>, <a href="https://www.smartkarma.com/entities/budweiser-brewing-co-apac-ltd" target="_blank" data-smartkarma-citation="entities:28077:1" rel="noopener">Budweiser Brewing APAC (1876 HK)</a>, and <a href="https://www.smartkarma.com/entities/hang-lung-properties-ltd" target="_blank" data-smartkarma-citation="entities:49:1" rel="noopener">Hang Lung Properties (101 HK)</a> in 2H25.</li>
</ul>


The "Buy the worst" basket has outperformed the HSI by a massive 16.7pp YTD, mainly boosted by Chow Tai Fook Jewellery (1929 HK) and Wuxi Biologics (2269 HK). 
The best-performing constituents in 2024, however, lagged behind the HSI, dragged down by Trip.com Group (9961 HK) and Meituan (3690 HK). 
Government's consumption boost should benefit Chow Tai Fook Jewellery (1929 HK), Budweiser Brewing APAC (1876 HK), and Hang Lung Properties (101 HK) in 2H25.


"Buy the Worst" HSI Strategy: Solid Gains in 1H25

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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P/E	0.00
Dividend (Yield)	0.00

Xiaomi (1810 HK)

After India’s Crackdowns, Chinese Phone Brands Outsource More Manufacturing to Locals

Chinese smartphone-makers are increasingly outsourcing production to Indian contract manufacturers to avoid running afoul of regulators in the...

Caixin Global

HK Connect SOUTHBOUND Flows (To 20 June 2025); Net Buying, Volumes Up, TECH Down, BANKS Bought

SOUTHBOUND continues to net buy. Pop Mart is a trading fave but banks are bought, again, and Tencent/Tech is sold, again.

Travis Lundy

HK Short Interest Weekly: Beke, Zijin Mining, Wuxi Apptec, AIA, Tencent, BYD, Li Auto

We analyzed the latest HK SFC report for aggregate short position as of Jun 13th and highlight short interest changes in Beke, Zijin Mining, Wuxi...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Jun 20th): CCB, Meituan, CMB, China Life, Ke, Tencent, Alibaba, Xiaomi

We analyzed the Hong Kong Connect Scheme for last week and highlighted flows for CCB, Meituan, CMB, China Life, Ke, Tencent, Alibaba, Xiaomi,...

Ke Yan, CFA, FRM

"Buy the Worst" HSI Strategy: Solid Gains in 1H25

The "Buy the worst" basket outperformed the HSI by 16.7pp YTD, boosted by Chow Tai Fook and Wuxi Biologics, while top performers in 2024 lagged,...

Osbert Tang, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

After India’s Crackdowns, Chinese Phone Brands Outsource More Manufacturing to Locals

Chinese smartphone-makers are increasingly outsourcing production to Indian contract manufacturers to avoid running afoul of regulators in the...

Caixin Global

HK Connect SOUTHBOUND Flows (To 20 June 2025); Net Buying, Volumes Up, TECH Down, BANKS Bought

SOUTHBOUND continues to net buy. Pop Mart is a trading fave but banks are bought, again, and Tencent/Tech is sold, again.

Travis Lundy

HK Short Interest Weekly: Beke, Zijin Mining, Wuxi Apptec, AIA, Tencent, BYD, Li Auto

We analyzed the latest HK SFC report for aggregate short position as of Jun 13th and highlight short interest changes in Beke, Zijin Mining, Wuxi...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Jun 20th): CCB, Meituan, CMB, China Life, Ke, Tencent, Alibaba, Xiaomi

We analyzed the Hong Kong Connect Scheme for last week and highlighted flows for CCB, Meituan, CMB, China Life, Ke, Tencent, Alibaba, Xiaomi,...

Ke Yan, CFA, FRM

"Buy the Worst" HSI Strategy: Solid Gains in 1H25

​The "Buy the worst" basket outperformed the HSI by 16.7pp YTD, boosted by Chow Tai Fook and Wuxi Biologics, while top performers in 2024 lagged,...

Osbert Tang, CFA

The "Buy the worst" basket outperformed the HSI by 16.7pp YTD, boosted by Chow Tai Fook and Wuxi Biologics, while top performers in 2024 lagged,...