Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Bain Capital-backed <a href="https://www.smartkarma.com/entities/chindata-group-holdings-adr" target="_blank" data-smartkarma-citation="entities:29274:1" rel="noopener">Chindata Group (CD US)</a> is on the move after Bloomberg flagged - again - interest from industry players.</li>
<li>This time, SOE-backed China Merchants Group is understood to be mulling a takeover of Chindata. Shares are up 23% since that article earlier this month.</li>
<li>Back in April, Bloomberg mentioned <a href="https://www.smartkarma.com/entities/gds-holdings-adr" target="_blank" data-smartkarma-citation="entities:23649:1" rel="noopener">GDS Holdings (ADR) (GDS US)</a>, PE outfit PAG, and <a href="https://www.smartkarma.com/entities/eqt-ab" target="_blank" data-smartkarma-citation="entities:28922:1" rel="noopener">EQT AB (EQT SS)</a>-backed EdgeConneX were rumoured to be interested in merging with Chindata. </li>
</ul>


Bain Capital-backed Chindata Group (CD US) is on the move after Bloomberg flagged - again - interest from industry players.
This time, SOE-backed China Merchants Group is understood to be mulling a takeover of Chindata. Shares are up 23% since that article earlier this month.
Back in April, Bloomberg mentioned GDS Holdings (ADR) (GDS US), PE outfit PAG, and EQT AB (EQT SS)-backed EdgeConneX were rumoured to be interested in merging with Chindata. 


Chindata: China Merchants Potentially In The Mix

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 changes in short interest of KRX stocks as of Jun 6th. The aggregated short interest was USD0.8bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Lg Energy Solution, Celltrion, Ecoprobm Co.Ltd, Hanmi Semicon, Hlb.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Jun 6th. The aggregated short interest was USD0.8bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Lg Energy Solution, Celltrion, Ecoprobm Co.Ltd, Hanmi Semicon, Hlb.


KRX Short Interest Weekly (Jun 6th): Lg Energy Solution, Celltrion, Ecoprobm, Hanmi Semicon

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>We provide updated NAV valuations of Doosan Corp (000150 KS), Hanwha Corporation (000880 KS), CJ Corp (001040 KS), GS Holdings (078930 KS), and LOTTE Corporation (004990 KS).</li>
<li>These holding companies' outperformance has been driven by investors' perception that the new Lee Jae-Myung administration will make real changes to improve corporate governance policies that could unlock greater value. </li>
<li>The share prices of Hanwha Corp, Doosan Corp, CJ Corp, GS Holdings, and Lotte Corp are up on average 97% YTD. </li>
</ul>


We provide updated NAV valuations of Doosan Corp (000150 KS), Hanwha Corporation (000880 KS), CJ Corp (001040 KS), GS Holdings (078930 KS), and LOTTE Corporation (004990 KS).
These holding companies' outperformance has been driven by investors' perception that the new Lee Jae-Myung administration will make real changes to improve corporate governance policies that could unlock greater value. 
The share prices of Hanwha Corp, Doosan Corp, CJ Corp, GS Holdings, and Lotte Corp are up on average 97% YTD. 


Updated NAV Valuations of Doosan Corp, Hanwha Corp, CJ Corp, GS Holdings, and Lotte Corp

<ul>
<li>In this insight, we also provide a list of 30 top performing stocks in KOSPI in the past one week (in terms of price performance and trading value).</li>
<li>We also discuss the surging share price of Samsung Life Insurance which suggests a near-term regulation change that could require the company to partially dispose its stake in Samsung Electronics. </li>
<li>With Lee Jae-Myung becoming the new South Korean President, the probability of Samsung Life Insurance being forced to sell its stake in Samsung Electronics has risen much more.</li>
</ul>


In this insight, we also provide a list of 30 top performing stocks in KOSPI in the past one week (in terms of price performance and trading value).
We also discuss the surging share price of Samsung Life Insurance which suggests a near-term regulation change that could require the company to partially dispose its stake in Samsung Electronics. 
With Lee Jae-Myung becoming the new South Korean President, the probability of Samsung Life Insurance being forced to sell its stake in Samsung Electronics has risen much more.


Top 30 Best Performing Stocks in KOSPI in Past Week and Surging Price of Samsung Life Insurance

Cross Asset Strategy

<ul>
<li>In this insight, we provide five major factors that may have caused higher share price movements (up 7.6%) of 10 major Korean holdcos/quasi holdcos today.</li>
<li>This is the best one day share price performance on average for these stocks so far in 2025.</li>
<li>Emphasis on improving corporate governance by both leading Presidential candidates and potential mandatory cancellation of treasury shares are among the five major factors. </li>
</ul>


In this insight, we provide five major factors that may have caused higher share price movements (up 7.6%) of 10 major Korean holdcos/quasi holdcos today.
This is the best one day share price performance on average for these stocks so far in 2025.
Emphasis on improving corporate governance by both leading Presidential candidates and potential mandatory cancellation of treasury shares are among the five major factors. 


Biggest One Day Move in Higher Share Performance YTD in 2025 for Major Korean Holdcos Today - Why?

South Korea

SK Holdings Co., Ltd. is a holdings company that is engaged in various industries including energy, chemicals, information technology, semiconductors, marketing, and services businesses in South Korea and internationally.

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

SK Inc (034730 KS)

Chindata: China Merchants Potentially In The Mix

No formal sale process has occurred, therefore second-guessing if, and when, an Offer emerges will be fraught with issues. However, I'd be picking...

David Blennerhassett

KRX Short Interest Weekly (Jun 6th): Lg Energy Solution, Celltrion, Ecoprobm, Hanmi Semicon

We analyzed KRX short interest report for the past week and highlighted short interest changes in Lg Energy Solution, Celltrion, Ecoprobm Co.Ltd,...

Ke Yan, CFA, FRM

Updated NAV Valuations of Doosan Corp, Hanwha Corp, CJ Corp, GS Holdings, and Lotte Corp

We provide updated NAV valuations of Doosan Corp (000150 KS), Hanwha Corporation (000880 KS), CJ Corp (001040 KS), GS Holdings (078930 KS), and...

Douglas Kim

Top 30 Best Performing Stocks in KOSPI in Past Week and Surging Price of Samsung Life Insurance

In this insight, we also provide a list of 30 top performing stocks in KOSPI in the past one week and the surging share price of Samsung Life...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Chindata: China Merchants Potentially In The Mix

No formal sale process has occurred, therefore second-guessing if, and when, an Offer emerges will be fraught with issues. However, I'd be picking...

David Blennerhassett

KRX Short Interest Weekly (Jun 6th): Lg Energy Solution, Celltrion, Ecoprobm, Hanmi Semicon

We analyzed KRX short interest report for the past week and highlighted short interest changes in Lg Energy Solution, Celltrion, Ecoprobm Co.Ltd,...

Ke Yan, CFA, FRM

Updated NAV Valuations of Doosan Corp, Hanwha Corp, CJ Corp, GS Holdings, and Lotte Corp

We provide updated NAV valuations of Doosan Corp (000150 KS), Hanwha Corporation (000880 KS), CJ Corp (001040 KS), GS Holdings (078930 KS), and...

Douglas Kim

Top 30 Best Performing Stocks in KOSPI in Past Week and Surging Price of Samsung Life Insurance

In this insight, we also provide a list of 30 top performing stocks in KOSPI in the past one week and the surging share price of Samsung Life...

Douglas Kim

Biggest One Day Move in Higher Share Performance YTD in 2025 for Major Korean Holdcos Today - Why?

Lee Jae-Myung has become the new President of S. Korea. In the near term, the Korean holdcos have a strong chance of continued outperformance. We...

Douglas Kim