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 analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 127.1% as of Dec 1st.</li>
<li>The average A-H premium changed by 4.7ppt week on week, led by consumer staples, utilities, communication services.</li>
<li>We highlight weekly changes in A-H premium for CMB, Ping An Insurance, Beigene, Ganfeng Lithium.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 127.1% as of Dec 1st.
The average A-H premium changed by 4.7ppt week on week, led by consumer staples, utilities, communication services.
We highlight weekly changes in A-H premium for CMB, Ping An Insurance, Beigene, Ganfeng Lithium.


A-H Premium Weekly (Dec 1st): CMB, Ping An Insurance, Beigene, Ganfeng Lithium

<ul>
<li>We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 117.2% as of Jul 14th.</li>
<li>The average A-H premium changed by -3.0ppt week on week, led by consumer discretionary, consumer staples, utilities and offset by real estate, communication services.</li>
<li>We highlight weekly changes in A-H premium for BankComm, ICBC, ABC, CCB, Remegen.</li>
</ul>


We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 117.2% as of Jul 14th.
The average A-H premium changed by -3.0ppt week on week, led by consumer discretionary, consumer staples, utilities and offset by real estate, communication services.
We highlight weekly changes in A-H premium for BankComm, ICBC, ABC, CCB, Remegen.


A-H Premium Weekly (Jul 14th): 52 Week High A-H for Banks

<ul>
<li>We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 111.4% as of May 19th.</li>
<li>The average A-H premium changed by -0.0ppt week on week, led by communication services, utilities, financials and offset by health care, information technology, energy.</li>
<li>We highlight weekly changes in A-H premium for China Zheshang, Shandong Gold, China Longyuan, BYD, Shenhua, China Life, Citic Bank, CEEC, China Telecom.</li>
</ul>


We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 111.4% as of May 19th.
The average A-H premium changed by -0.0ppt week on week, led by communication services, utilities, financials and offset by health care, information technology, energy.
We highlight weekly changes in A-H premium for China Zheshang, Shandong Gold, China Longyuan, BYD, Shenhua, China Life, Citic Bank, CEEC, China Telecom.


A-H Premium Weekly (May 19th): China Zheshang, Shandong Gold, China Longyuan, BYD, Shenhua

<ul>
<li>We analyse the changes of A-H premium on 142 stocks over the last week. The average A-H premium was 130.2% as of Oct 14th.</li>
<li>The average A-H premium changed by 5.3ppt weeok on week, led by information technology, real estate, materials and offset by communication services, energy.</li>
<li>We highlight weekly changes in A-H premium for CMB, China Pacific, Remegen, Tigermed, Shanghai Fudan, YOFC, GWM, CGS.</li>
</ul>


We analyse the changes of A-H premium on 142 stocks over the last week. The average A-H premium was 130.2% as of Oct 14th.
The average A-H premium changed by 5.3ppt weeok on week, led by information technology, real estate, materials and offset by communication services, energy.
We highlight weekly changes in A-H premium for CMB, China Pacific, Remegen, Tigermed, Shanghai Fudan, YOFC, GWM, CGS.


A-H Premium Weekly (Oct 14th): CMB, China Pacific, Remegen, Tigermed, Shanghai Fudan, YOFC, GWM, CGS

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/magic-empire-global" target="_blank" data-smartkarma-citation="entities:36219:1" rel="noopener">Magic Empire Global (MEGL US)</a> shares are currently up 45x since its listing at US$4.00 per share on 5 August. Its market cap currently stands at US$3.6 billion.</li>
<li>Just like <a href="https://www.smartkarma.com/entities/amtd-digital" target="_blank" data-smartkarma-citation="entities:36214:1" rel="noopener">AMTD Digital (HKD US)</a>, it is hard to pinpoint the real reason for MEGL’s share price surge. MEGL’s financials are uninspiring and cannot justify the share price ramp.</li>
<li>MEGL has no unique competitive advantage which could justify it's current large premium multiple compared to larger and better-established peers.    </li>
</ul>



Magic Empire Global (MEGL US) shares are currently up 45x since its listing at US$4.00 per share on 5 August. Its market cap currently stands at US$3.6 billion.
Just like AMTD Digital (HKD US), it is hard to pinpoint the real reason for MEGL’s share price surge. MEGL’s financials are uninspiring and cannot justify the share price ramp.
MEGL has no unique competitive advantage which could justify it's current large premium multiple compared to larger and better-established peers.    


Magic Empire Global: More Trick than Treat

China

Shenwan Hongyuan Group Co., Ltd. provides securities services. The Company offers securities brokerage, securities investment consulting, securities investment fund agency, securities asset management, and other services. Shenwan Hongyuan Group provides services in China.

Price Gauge
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Shenwan Hongyuan Group (6806 HK)

A-H Premium Weekly (Dec 1st): CMB, Ping An Insurance, Beigene, Ganfeng Lithium

We analyzed A-H premium changes in the past week and highlight A-H premium changes for CMB, Ping An Insurance, Beigene, Ganfeng Lithium.

Ke Yan, CFA, FRM

A-H Premium Weekly (Jul 14th): 52 Week High A-H for Banks

We analyzed A-H premium changes in the past week and highlight A-H premium changes for BankComm, ICBC, ABC, CCB, Remegen.

Ke Yan, CFA, FRM

A-H Premium Weekly (May 19th): China Zheshang, Shandong Gold, China Longyuan, BYD, Shenhua

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China Zheshang, Shandong Gold, China Longyuan, BYD, Shenhua,...

Ke Yan, CFA, FRM

A-H Premium Weekly (Oct 14th): CMB, China Pacific, Remegen, Tigermed, Shanghai Fudan, YOFC, GWM, CGS

We analyzed A-H premium changes in the past week and highlight A-H premium changes for CMB, China Pacific, Remegen, Tigermed, Shanghai Fudan, YOFC,...

Ke Yan, CFA, FRM

Magic Empire Global: More Trick than Treat

It is hard to pinpoint the real reason for MEGL’s share price surge. While it is difficult to predict when the share price will reflect...

Arun George

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)