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 October 20th.</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 have highlighted the flows for Meituan (3690 HK) .</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 20th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We have highlighted the flows for Meituan (3690 HK) .


Hong Kong Connect Flows (Oct 20th): Meituan

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 29th.</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 have highlighted flows for Meituan, Tencent, ICBC and Xpeng.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 29th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We have highlighted flows for Meituan, Tencent, ICBC and Xpeng.


Hong Kong Connect Flows (Sep 29th): Meituan, Tencent, ICBC, Xpeng

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

Beijing Chunlizhengda Medical Instruments / Equity Bottom-Up

Beijing Chunlizhengda Medical Instruments (688236 CH)

Beijing Chunlizhengda Medical Instruments

<ul>
<li>
<a href="https://www.smartkarma.com/entities/beijing-chunlizhengda-medical-instruments-co-ltd-7d0654c5-5b6b-4eb5-885c-51014387ff4e" target="_blank" data-smartkarma-citation="entities:36381:1" rel="noopener">Beijing Chunlizhengda Medical Instruments</a> didn’t perform well in 23H1. Obviously, the Company did not anticipate sufficiently the negative impact of centralized procurement on performance. Comparatively, AK Medical’s situation is better.</li>
<li>The anti-corruption campaign has led to a marked drop in hospital outpatient visits and surgeries. Therefore, Chunlizhengda's Q3 performance may not be optimistic, resulting in a lower-than-expected 2023 full-year performance.</li>
<li>We think both revenue and net profit of Chunlizhengda would have negative YoY growth in 2023. The Company has fallen behind its competitor in R&amp;D capabilities and high-end product lines. </li>
</ul>



Beijing Chunlizhengda Medical Instruments didn’t perform well in 23H1. Obviously, the Company did not anticipate sufficiently the negative impact of centralized procurement on performance. Comparatively, AK Medical’s situation is better.
The anti-corruption campaign has led to a marked drop in hospital outpatient visits and surgeries. Therefore, Chunlizhengda's Q3 performance may not be optimistic, resulting in a lower-than-expected 2023 full-year performance.
We think both revenue and net profit of Chunlizhengda would have negative YoY growth in 2023. The Company has fallen behind its competitor in R&amp;D capabilities and high-end product lines. 


Chunlizhengda Medical Instruments (1858.HK/688236.CH) - 2023 Full-Year Results May Be Disappointing

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 8th.</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 ICBC, CNOOC, CCB, HKEx, China Petroleum &amp; Chemical.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 8th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for ICBC, CNOOC, CCB, HKEx, China Petroleum &amp; Chemical.


Hong Kong Connect Flows (Sep 8th): ICBC, CNOOC, CCB, HKEx, China Petroleum & Chemical

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of June 2nd.</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 Meituan, China Construction Bank, and Cnooc.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of June 2nd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Meituan, China Construction Bank, and Cnooc.


Hong Kong Connect Flows (Jun 2nd): Meituan, China Construction Bank, Cnooc

China

Specializes in the research, development, manufacture, and sale of artificial joint prostheses & their associated surgical instruments and applications

Price Gauge
52-week Range	0.00 - 0.00
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AK Medical Holdings Limited (1789 HK)

Hong Kong Connect Flows (Oct 20th): Meituan

We have analyzed southbound Hong Kong connect flows in the past week and have highlighted flows for Meituan ( 3690 HK ).

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Sep 29th): Meituan, Tencent, ICBC, Xpeng

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Meituan, Tencent, ICBC and Xpeng.

Ke Yan, CFA, FRM

Chunlizhengda Medical Instruments (1858.HK/688236.CH) - 2023 Full-Year Results May Be Disappointing

Chunlizhengda's performance won't rebound quickly because orthopedic consumables are most affected by China's anti-corruption. Together with VBP,...

Xinyao (Criss) Wang

Hong Kong Connect Flows (Sep 8th): ICBC, CNOOC, CCB, HKEx, China Petroleum & Chemical

We analyzed the Hong Kong Connect Scheme for last week and highlight flows for ICBC, CNOOC, CCB, HKEx, China Petroleum & Chemical.

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Jun 2nd): Meituan, China Construction Bank, Cnooc

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Meituan, China Construction Bank, Cnooc.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)