Proxy Advisory Firm, Sustinvest

SUSTINVEST

Proxy Advisory Firm

Responsible investment, Proxy advisory

Sustinvest

Sustinvest is a specialized ESG research firm that provides comprehensive analysis on company-level ESG performance, industry-level ESG issues, and ESG-related regulations. In particular, we attempt to identify investment risks and opportunities associated with events such as corporate governance changes and M&A. We also conduct company visits and fundamental analysis to discover smaller companies with sustainable business model which are usually overlooked by institutional investors. Our focus is on Korean listed companies and not limited to specific sectors.  

Equity Bottom-Up

<ul>
<li>All proposals at Samsung Electronics' March 19 shareholders' meeting were approved, despite opposition recommendations from Sustinvest, a Korean proxy advisory firm.</li>
<li>Sustinvest had recommended voting against outside director candidate Kim Jun-sung (Agenda 2-1-1) and inside director candidate Jeon Young-hyun (Agenda 2-2-1).</li>
<li>The approval of all agenda items indicates strong shareholder support for Samsung's current management direction despite some governance concerns raised by proxy advisors.</li>
</ul>


All proposals at Samsung Electronics' March 19 shareholders' meeting were approved, despite opposition recommendations from Sustinvest, a Korean proxy advisory firm.
Sustinvest had recommended voting against outside director candidate Kim Jun-sung (Agenda 2-1-1) and inside director candidate Jeon Young-hyun (Agenda 2-2-1).
The approval of all agenda items indicates strong shareholder support for Samsung's current management direction despite some governance concerns raised by proxy advisors.


Samsung Electronics(005930): Shareholders' Meeting Results

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 foreign holdings of KRX stocks as of Mar 14th which has an aggregated holding worth USD483.5bn.</li>
<li>We estimate that foreign flows to be outflows of USD1,135mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Hanwha Aerospace, Hanwha Ocean, Samsung Electronics.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Mar 14th which has an aggregated holding worth USD483.5bn.
We estimate that foreign flows to be outflows of USD1,135mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Hanwha Aerospace, Hanwha Ocean, Samsung Electronics.


KRX Foreign Holding Weekly (Mar 14th): Hanwha Aerospace, Hanwha Ocean, Samsung Electronics

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Index Rebalance

<ul>
<li>Real alpha? Tight basket means outsized passive flows. The play? SK Innovation, no contest.</li>
<li>Samsung SDI faces -0.54x ADTV outflows. Other movers: Netmarble 0.68x, Wemade Max 0.54x, NHN -0.46x ADTV.</li>
<li>Net-Net? SK Innovation is the trade. Long here, hedge short on Samsung SDI or the broader Battery space.</li>
</ul>


Real alpha? Tight basket means outsized passive flows. The play? SK Innovation, no contest.
Samsung SDI faces -0.54x ADTV outflows. Other movers: Netmarble 0.68x, Wemade Max 0.54x, NHN -0.46x ADTV.
Net-Net? SK Innovation is the trade. Long here, hedge short on Samsung SDI or the broader Battery space.


Got the BBIG Rebalancing Results: SK Innovation Is the Trade This Week

<ul>
<li>POSCO Holdings and Samsung SDI stand out for shorting, as both were hit hard by the EV battery chasm. With June rebal looming, they’re likely getting the boot.</li>
<li>Samsung Biologics and Hanwha Aerospace could replace them, with a large float cap gap and strong price momentum, making it unlikely for the gap to flip by May.</li>
<li>As June rebalancing nears, volume could drop, increasing passive impact. With shorting back, passive flow intensity may rise, leading to significant price action.</li>
</ul>


POSCO Holdings and Samsung SDI stand out for shorting, as both were hit hard by the EV battery chasm. With June rebal looming, they’re likely getting the boot.
Samsung Biologics and Hanwha Aerospace could replace them, with a large float cap gap and strong price momentum, making it unlikely for the gap to flip by May.
As June rebalancing nears, volume could drop, increasing passive impact. With shorting back, passive flow intensity may rise, leading to significant price action.


Post-Ban Short Play Idea: TIGER Top 10 ETF Rebal in June

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 Capital Markets

Contemporary Amperex Technology (CATL) / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/contemporary-amperex-technolog" target="_blank" data-smartkarma-citation="entities:24404:1" rel="noopener">Contemporary Amperex Technology (CATL) (300750 CH)</a>, the world's largest supplier of EV and ESS batteries, has filed for an H Share listing to raise US$5 billion.     </li>
<li>CATL’s global EV battery market share, measured in GWh, rose from 27.6% in 2019 to 36.8% in November 2024.</li>
<li>The investment case rests on a leading market position, forecasted return to growth, peer-leading profitability, cash generation, peer-leading FCF margin and an attractive valuation. </li>
</ul>



Contemporary Amperex Technology (CATL) (300750 CH), the world's largest supplier of EV and ESS batteries, has filed for an H Share listing to raise US$5 billion.     
CATL’s global EV battery market share, measured in GWh, rose from 27.6% in 2019 to 36.8% in November 2024.
The investment case rests on a leading market position, forecasted return to growth, peer-leading profitability, cash generation, peer-leading FCF margin and an attractive valuation. 


CATL H Share Listing: The Investment Case

South Korea

Samsung SDI Co., Ltd. specializes in developing Lithium Ion Battery (LIB) technology.  The Company also manufactures cathode ray tubes (CRTs) for televisions and computer monitors.  Samsung SDI also produces liquid crystal display (LCD) components and rechargeable batteries for cellular phones , personal digital assistants (PDAs), Energy Storage Systems and solar panels.

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

Samsung SDI (006400 KS)

Samsung Electronics(005930): Shareholders' Meeting Results

Samsung's shareholders meeting reveals Korean corporate governance patterns. Analysis of advisory recommendations versus voting results provides...

Sustinvest

KRX Foreign Holding Weekly (Mar 14th): Hanwha Aerospace, Hanwha Ocean, Samsung Electronics

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Hanwha Aerospace, Hanwha Ocean, Samsung Electronics.

Ke Yan, CFA, FRM

Got the BBIG Rebalancing Results: SK Innovation Is the Trade This Week

This post provides insights into the latest BBIG rebalancing results, breaking down the key shifts and highlighting SK Innovation as the top trade...

Sanghyun Park

Post-Ban Short Play Idea: TIGER Top 10 ETF Rebal in June

This post presents a trading idea targeting the resumption of short selling that's largely off the radar: TIGER Top 10 ETF rebalancing in June.

Sanghyun Park

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Samsung Electronics(005930): Shareholders' Meeting Results

Samsung's shareholders meeting reveals Korean corporate governance patterns. Analysis of advisory recommendations versus voting results provides...

Sustinvest

KRX Foreign Holding Weekly (Mar 14th): Hanwha Aerospace, Hanwha Ocean, Samsung Electronics

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Hanwha Aerospace, Hanwha Ocean, Samsung Electronics.

Ke Yan, CFA, FRM

Got the BBIG Rebalancing Results: SK Innovation Is the Trade This Week

This post provides insights into the latest BBIG rebalancing results, breaking down the key shifts and highlighting SK Innovation as the top trade...

Sanghyun Park

Post-Ban Short Play Idea: TIGER Top 10 ETF Rebal in June

This post presents a trading idea targeting the resumption of short selling that's largely off the radar: TIGER Top 10 ETF rebalancing in June.

Sanghyun Park

CATL H Share Listing: The Investment Case

The investment case rests on a leading market position, forecasted return to growth, peer-leading profitability, cash generation, peer-leading FCF...

Arun George