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 weekly Hong Kong Connect flows with our data engine for holding position as of September 16th.</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 inflows into Wuxi Biologics (Cayman) Inc and CNOOC. </li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 16th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight inflows into Wuxi Biologics (Cayman) Inc and CNOOC. 


Hong Kong Connect Flows (Sep 16th): Chinese Buying Wuxi Biologics After Biden's New Executive Order

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/3sbio-inc" target="_blank" data-smartkarma-citation="entities:459:1" rel="noopener">3SBio Inc (1530 HK)</a>'s core products have dominant market share in their respective therapeutic areas, lending a favorable financial profile to the company to fund its R&amp;D and commercialization efforts.  </li>
<li>Flagship drug, TPIAO remained resilient to the COVID-19 and clocked a revenue CAGR of 32% during 2016–2021. Low penetration of TPIAO’s targeted indications leaves further room for its growth.</li>
<li>Haircare product Mandi has high market share of 70%+ and clocked 64% y/y revenue growth in 2021. 3SBio aims to launch Mandi foam, which will further sharpen its competitive edge.</li>
</ul>



3SBio Inc (1530 HK)'s core products have dominant market share in their respective therapeutic areas, lending a favorable financial profile to the company to fund its R&amp;D and commercialization efforts.  
Flagship drug, TPIAO remained resilient to the COVID-19 and clocked a revenue CAGR of 32% during 2016–2021. Low penetration of TPIAO’s targeted indications leaves further room for its growth.
Haircare product Mandi has high market share of 70%+ and clocked 64% y/y revenue growth in 2021. 3SBio aims to launch Mandi foam, which will further sharpen its competitive edge.


3SBio Inc (1530 HK): Core Biopharmaceutical Portfolio On A Double-Digit Growth Path

Independent Research, Turtles all the way down

Turtles all the way down

Independent Research

Writing short articles about mis-priced boring stocks around the world.

<ul>
<li>I think most (value) investors go through four stages: Stage 0: Buy stuff that goes up. Especially when a lot of people around you get rich from doing it.</li>
<li>Stage 1: Invest in the future! Buy into some fancy exciting new technology that will become big some day! The Cathie Wood stage. Usually stage 1 and stage 0 go hand in hand.</li>
<li>Stage 2: Buy at low PE multiples. Some are smart and skip the first two. This stage is not bad, it should lead to slight outperformance. Can be dangerous without wide diversification as a lot of them are value traps.</li>
</ul>


I think most (value) investors go through four stages: Stage 0: Buy stuff that goes up. Especially when a lot of people around you get rich from doing it.
Stage 1: Invest in the future! Buy into some fancy exciting new technology that will become big some day! The Cathie Wood stage. Usually stage 1 and stage 0 go hand in hand.
Stage 2: Buy at low PE multiples. Some are smart and skip the first two. This stage is not bad, it should lead to slight outperformance. Can be dangerous without wide diversification as a lot of them are value traps.


<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jan 28 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 3Sbio Inc. (1530 HK), China Gas (384 HK), Hygeia Healthcare (6078 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Wuxi Biologics (2269 HK), 3Sbio (1530 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jan 28 based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were 3Sbio Inc. (1530 HK), China Gas (384 HK), Hygeia Healthcare (6078 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Wuxi Biologics (2269 HK), 3Sbio (1530 HK).


Hong Kong Buybacks: 3SBio, China Gas, Hygeia

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Sino Biopharmaceutical / Equity Bottom-Up

<ul>
<li>We analyzed the business performance and short-term catalyst for <a href="https://www.smartkarma.com/entities/sino-biopharmaceutical" target="_blank" data-smartkarma-citation="entities:230:1" rel="noopener">Sino Biopharmaceutical (1177 HK),</a> and investors could decide whether to take advantage of it or not.</li>
<li>We also analyzed the concerns about the Company as well as our insights on the valuation of biopharmaceutical companies.</li>
<li>Based on our analysis, we are conservative about the Company’s outlook at the current stage.</li>
</ul>


We analyzed the business performance and short-term catalyst for Sino Biopharmaceutical (1177 HK), and investors could decide whether to take advantage of it or not.
We also analyzed the concerns about the Company as well as our insights on the valuation of biopharmaceutical companies.
Based on our analysis, we are conservative about the Company’s outlook at the current stage.


Sino Biopharmaceutical (1177.HK) - The Business, The Concerns, The Insights on Biopharma Valuation

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 (Sep 16th): Chinese Buying Wuxi Biologics After Biden's New Executive Order

We analyzed Hong Connect flows last week and highlight Chinese purchase of Wuxi Biologics post new executive order signed on Monday.

Ke Yan, CFA, FRM

3SBio Inc (1530 HK): Core Biopharmaceutical Portfolio On A Double-Digit Growth Path

3SBio is poised for accelerated double-digit revenue growth through deepening penetration of its core biopharmaceutical and hair healthcare...

Tina Banerjee

Investing in HK Stocks

If you invest in Western markets this would be enough, but not in Asian markets where the trust factor is a lot lower, and where ownership is more...

Turtles all the way down

Hong Kong Buybacks: 3SBio, China Gas, Hygeia

We highlight the top 3 companies that repurchased the most shares in HK last week were 3Sbio Inc. (1530 HK), China Gas (384 HK), Hygeia Healthcare...

Ke Yan, CFA, FRM

Sino Biopharmaceutical (1177.HK) - The Business, The Concerns, The Insights on Biopharma Valuation

This article analyzed Sino Biopharmaceutical in terms of the business performance, short-term catalyst, concerns about the outlook, and insights on...

Xinyao (Criss) Wang

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