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 analyzed the latest HK SFC report for aggregate short position as of Jul 10th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Alibaba, Tencent, Kingboard Laminates, Knowledge Atlas, CCB, Yofc, ICBC, Hesai, Ntes, Minimax.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jul 10th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Alibaba, Tencent, Kingboard Laminates, Knowledge Atlas, CCB, Yofc, ICBC, Hesai, Ntes, Minimax.


HK Short Interest Weekly: Alibaba, Tencent, Kingboard Laminates, Knowledge Atlas, CCB, Yofc, ICBC

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

Industry viewpoints:
<ul>
<li>VBP on recombinant human growth hormone</li>
<li>The differentiation of business models between big pharma/biopharma and biotech companies</li>
<li>A view on the development prospects of innovative drugs in China </li>
</ul>
Company news:
News about the updated progress on new drugs of <a href="https://www.smartkarma.com/entities/hansoh-pharmaceutical-group" target="_blank" data-smartkarma-citation="entities:23675:1" rel="noopener">Hansoh Pharmaceutical (3692 HK)</a>, <a href="https://www.smartkarma.com/entities/akeso-biopharma-inc" target="_blank" data-smartkarma-citation="entities:28830:1" rel="noopener">Akeso Biopharma Inc (9926 HK)</a> and <a href="https://www.smartkarma.com/entities/luye-pharma-group-ltd" target="_blank" data-smartkarma-citation="entities:488:1" rel="noopener">Luye Pharma (2186 HK)</a>.
Market review:
Last week, stock price for healthcare sector in A share decreased 1.98%, while CSI 300 increased 0.04% over the same period of time.
Risk disclosure:
Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Industry viewpoints:

VBP on recombinant human growth hormone
The differentiation of business models between big pharma/biopharma and biotech companies
A view on the development prospects of innovative drugs in China 

Company news:
News about the updated progress on new drugs of Hansoh Pharmaceutical (3692 HK), Akeso Biopharma Inc (9926 HK) and Luye Pharma (2186 HK).
Market review:
Last week, stock price for healthcare sector in A share decreased 1.98%, while CSI 300 increased 0.04% over the same period of time.
Risk disclosure:
Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

China Healthcare Weekly (Oct15)-Growth Hormone VBP, Biotech's Business Model,Innovative Drug Outlook

Industry viewpoints:<ul>
<li>The recent centralized procurement on spring coil in Hebei province could be a warning to the relevant enterprises.</li>
<li>The NHSA pointed out that it will explore feasible ways to include dental items into the payment scope of commercial insurance.</li>
<li>We expect to see AI deeply integrated into the new drug development process and revolutionize the industry in the future.</li>
</ul>Company news:News about the updated progress on new drugs and cooperation agreement of <a href="https://www.smartkarma.com/entities/akeso-biopharma-inc" target="_blank" data-smartkarma-citation="entities:28830:1" rel="noopener">Akeso Biopharma Inc (9926 HK)</a>, <a href="https://www.smartkarma.com/entities/cspc-pharmaceutical-group-ltd" target="_blank" data-smartkarma-citation="entities:229:1" rel="noopener">CSPC Pharmaceutical Group (1093 HK)</a> and <a href="https://www.smartkarma.com/entities/everest-medicines-ltd" target="_blank" data-smartkarma-citation="entities:29224:1" rel="noopener">Everest Medicines (1952 HK)</a>. Market review:Last week, stock price for healthcare sector in A share increased 3.74%, while CSI 300 decreased 0.37% over the same period of time.Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Industry viewpoints:
The recent centralized procurement on spring coil in Hebei province could be a warning to the relevant enterprises.
The NHSA pointed out that it will explore feasible ways to include dental items into the payment scope of commercial insurance.
We expect to see AI deeply integrated into the new drug development process and revolutionize the industry in the future.
Company news:News about the updated progress on new drugs and cooperation agreement of Akeso Biopharma Inc (9926 HK), CSPC Pharmaceutical Group (1093 HK) and Everest Medicines (1952 HK). Market review:Last week, stock price for healthcare sector in A share increased 3.74%, while CSI 300 decreased 0.37% over the same period of time.Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

China Healthcare Weekly (Sep.24) - VBP on Neuro-Intervention, Payment System Changes, AI in Drug R&D

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jul 3rd.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Tencent, Kingboard Laminates, Hua Hong Semi, Alibaba, Ntes, Kingboard, Midea, Meituan, Biren Tech.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jul 3rd.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Tencent, Kingboard Laminates, Hua Hong Semi, Alibaba, Ntes, Kingboard, Midea, Meituan, Biren Tech.


HK Short Interest Weekly: Tencent, Kingboard Laminates, Hua Hong Semi, Alibaba, Ntes, Kingboard

Industry viewpoints:<ul>
<li>The newly released education and training policy increased the short-term volatility in healthcare sector, especially those subsectors with high valuation.</li>
<li>Recently, the Nanjing COVID-19 outbreak (the Delta variant) has spread widely in China.</li>
<li>Favorable policies would support the further expansion of anti-HIV drug market in China. </li>
</ul>Company news:News about the updated progress on drugs and R&amp;D Center of <a href="https://www.smartkarma.com/entities/cstone-pharmaceuticals" target="_blank" data-smartkarma-citation="entities:27882:1" rel="noopener">CStone Pharmaceuticals (2616 HK)</a>, <a href="https://www.smartkarma.com/entities/akeso-biopharma-inc" target="_blank" data-smartkarma-citation="entities:28830:1" rel="noopener">Akeso Biopharma Inc (9926 HK)</a> and <a href="https://www.smartkarma.com/entities/jacobio-pharmaceuticals" target="_blank" data-smartkarma-citation="entities:29696:1" rel="noopener">Jacobio Pharmaceuticals (1167 HK)</a>.Market review: Last week, stock price for healthcare sector in A share increased 0.9%, while CSI 300 increased 2.29% over the same period of time. Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Industry viewpoints:
The newly released education and training policy increased the short-term volatility in healthcare sector, especially those subsectors with high valuation.
Recently, the Nanjing COVID-19 outbreak (the Delta variant) has spread widely in China.
Favorable policies would support the further expansion of anti-HIV drug market in China. 
Company news:News about the updated progress on drugs and R&amp;D Center of CStone Pharmaceuticals (2616 HK), Akeso Biopharma Inc (9926 HK) and Jacobio Pharmaceuticals (1167 HK).Market review: Last week, stock price for healthcare sector in A share increased 0.9%, while CSI 300 increased 2.29% over the same period of time. Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

China

Akeso is a biopharmaceutical company focused on the research, development, manufacturing, and commercialization of innovative antibody drugs. It develops treatments for major diseases such as cancer, autoimmune diseases, inflammation, and metabolic diseases, with key products including cadonilimab, ivonescimab, and penpulimab. The company was founded in 2012 and is headquartered in Zhongshan, Guangdong, China.

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Akeso (9926 HK)

HK Short Interest Weekly: Alibaba, Tencent, Kingboard Laminates, Knowledge Atlas, CCB, Yofc, ICBC

We analyzed the latest HK SFC report for aggregate short position as of Jul 10th and highlight short interest changes in Alibaba (9988 HK), Tencent...

Ke Yan, CFA, FRM

China Healthcare Weekly (Oct15)-Growth Hormone VBP, Biotech's Business Model,Innovative Drug Outlook

The article analyzed the VBP on recombinant human growth hormone, the difference in business model of big pharma/biopharma and biotech, and the...

Xinyao (Criss) Wang

China Healthcare Weekly (Sep.24) - VBP on Neuro-Intervention, Payment System Changes, AI in Drug R&D

This article analyzed the centralized procurement on spring coil in Hebei province, commercial insurance coverage for dental items, AI in new drug...

Xinyao (Criss) Wang

HK Short Interest Weekly: Tencent, Kingboard Laminates, Hua Hong Semi, Alibaba, Ntes, Kingboard

We analyzed the latest HK SFC report for aggregate short position as of Jul 3rd and highlight short interest changes in Tencent (700 HK), Kingboard...

Ke Yan, CFA, FRM

China Healthcare Weekly (Aug.6)

The insight mainly analyzed increasing short-term volatility in healthcare sector by newly released education policy, Nanjing COVID-19 outbreak,...

Xinyao (Criss) Wang

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