Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight flows of China Mobile, Xiaomi, Tencent, China Life, Kuaishou.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight flows of China Mobile, Xiaomi, Tencent, China Life, Kuaishou.


Hong Kong Connect Flows (January): China Mobile, Xiaomi, Tencent

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of January 30th.</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 China Mobile, Pop Mart Intl, Tencent, Zijin Mining, Xiaomi, Alibaba, China Life, Sinopec, China Hongqiao, Innovent Biologics.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of January 30th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for China Mobile, Pop Mart Intl, Tencent, Zijin Mining, Xiaomi, Alibaba, China Life, Sinopec, China Hongqiao, Innovent Biologics.


HK Connect Flows Weekly (Jan 30th): China Mobile, Pop Mart Intl, Tencent, Zijin Mining, Xiaomi

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of January 23rd.</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 China Mobile, Alibaba, Xiaomi, Hua Hong Semiconductor, SMIC, Tencent, Innovent Biologics, Zijin Mining, China Hongqiao, Ubtech Robotics.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of January 23rd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for China Mobile, Alibaba, Xiaomi, Hua Hong Semiconductor, SMIC, Tencent, Innovent Biologics, Zijin Mining, China Hongqiao, Ubtech Robotics.


HK Connect Flows Weekly (Jan 23rd): China Mobile, Alibaba, Xiaomi, Hua Hong Semiconductor, SMIC

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/remegen-co-ltd" target="_blank" data-smartkarma-citation="entities:29191:1" rel="noopener">Remegen (9995 HK)</a> entered an exclusive outlicensing agreement with <a href="https://www.smartkarma.com/entities/abbvie-inc" target="_blank" data-smartkarma-citation="entities:1135:1" rel="noopener">Abbvie Inc (ABBV US)</a>  regarding RC148, a novel investigational PD-1/ VEGF bispecific antibody drug candidate for an upfront payment of $650M.</li>
<li>Remegen is eligible to receive up to $4.95B in development, regulatory, and commercial milestone payments, as well as tiered double-digit royalty payments on net sales outside the Greater China region.</li>
<li>RC148 is currently being developed in China by Remegen as a monotherapy and in combination for treating patients with various advanced malignant solid tumors, including certain lung cancers.</li>
</ul>



Remegen (9995 HK) entered an exclusive outlicensing agreement with Abbvie Inc (ABBV US)  regarding RC148, a novel investigational PD-1/ VEGF bispecific antibody drug candidate for an upfront payment of $650M.
Remegen is eligible to receive up to $4.95B in development, regulatory, and commercial milestone payments, as well as tiered double-digit royalty payments on net sales outside the Greater China region.
RC148 is currently being developed in China by Remegen as a monotherapy and in combination for treating patients with various advanced malignant solid tumors, including certain lung cancers.


Remegen (9995 HK): New Licensing Deal With AbbVie Brings $650M Upfront Cash

Simcere Pharmaceutical / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/simcere-pharmaceutical-group" target="_blank" data-smartkarma-citation="entities:29186:1" rel="noopener">Simcere Pharmaceutical Group (2096 HK)</a> proposed to spin-off and separately list the shares of Simcere Zaiming, a subsidiary of the company.</li>
<li>Following the completion of the proposed spin-off, Simcere Pharma will have an interest of over 50% in Simcere Zaiming and Zaiming will remain as a subsidiary of the company.</li>
<li>We feel this is a sort of value unlocking and also simultaneously allowing Simcere Zaiming, as an independently listed entity, access to funds for R&amp;D and future growth.  </li>
</ul>



Simcere Pharmaceutical Group (2096 HK) proposed to spin-off and separately list the shares of Simcere Zaiming, a subsidiary of the company.
Following the completion of the proposed spin-off, Simcere Pharma will have an interest of over 50% in Simcere Zaiming and Zaiming will remain as a subsidiary of the company.
We feel this is a sort of value unlocking and also simultaneously allowing Simcere Zaiming, as an independently listed entity, access to funds for R&amp;D and future growth.  


Simcere Pharma (2096 HK): Proposed Spin-Off Will Unlock Value and Open Funding Avenues for Zaiming

China

3SBio is a leading biotechnology company engaged in the research, development, manufacturing, and marketing of biopharmaceutical products. The company's diverse portfolio addresses therapeutic areas such as nephrology, oncology, supportive cancer care, inflammation, infectious diseases, autoimmune diseases, metabolism, and dermatology, with key products including EPIAO and TPIAO. 3SBio was founded in 1993 and is headquartered in Shenyang, China.

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3SBio (1530 HK)

Hong Kong Connect Flows (January): China Mobile, Xiaomi, Tencent

We estimate inflows to Hong Kong stocks from mainland China to be USD 7.2bn. We highlight big flows for China Mobile (2.2bn outflows), Tencent...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Jan 30th): China Mobile, Pop Mart Intl, Tencent, Zijin Mining, Xiaomi

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for China Mobile (941 HK), Pop Mart Intl (9992 HK), Tencent...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Jan 23rd): China Mobile, Alibaba, Xiaomi, Hua Hong Semiconductor, SMIC

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for China Mobile (941 HK), Alibaba (9988 HK), Xiaomi (1810...

Ke Yan, CFA, FRM

Remegen (9995 HK): New Licensing Deal With AbbVie Brings $650M Upfront Cash

Remegen inked an exclusive outlicensing deal with AbbVie for RC148, an investigational PD-1/ VEGF bispecific antibody drug candidate for an upfront...

Tina Banerjee

Simcere Pharma (2096 HK): Proposed Spin-Off Will Unlock Value and Open Funding Avenues for Zaiming

Simcere Pharma plans to spin-off and separately list shares of subsidiary Simcere Zaiming, unlocking value and providing separate access to funds...

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Connect Flows (January): China Mobile, Xiaomi, Tencent

We estimate inflows to Hong Kong stocks from mainland China to be USD 7.2bn. We highlight big flows for China Mobile (2.2bn outflows), Tencent...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Jan 30th): China Mobile, Pop Mart Intl, Tencent, Zijin Mining, Xiaomi

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for China Mobile (941 HK), Pop Mart Intl (9992 HK), Tencent...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Jan 23rd): China Mobile, Alibaba, Xiaomi, Hua Hong Semiconductor, SMIC

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for China Mobile (941 HK), Alibaba (9988 HK), Xiaomi (1810...

Ke Yan, CFA, FRM

Remegen (9995 HK): New Licensing Deal With AbbVie Brings $650M Upfront Cash

Remegen inked an exclusive outlicensing deal with AbbVie for RC148, an investigational PD-1/ VEGF bispecific antibody drug candidate for an upfront...

Tina Banerjee

Simcere Pharma (2096 HK): Proposed Spin-Off Will Unlock Value and Open Funding Avenues for Zaiming

​Simcere Pharma plans to spin-off and separately list shares of subsidiary Simcere Zaiming, unlocking value and providing separate access to funds...

Tina Banerjee

Simcere Pharma plans to spin-off and separately list shares of subsidiary Simcere Zaiming, unlocking value and providing separate access to funds...