Senior Equity Derivatives Trader

Simon Harris

Equity Derivatives

<ul>
<li>BABA US is up 85% from October lows and continues to trade well in 2023 up 32% in January</li>
<li>Stock has benefitted from not only improved economic sentiment but also an end to the 2-year crack down on the Internet Sector</li>
<li>We suggest using call ratios to increase upside leverage prior to earnings release</li>
</ul>


BABA US is up 85% from October lows and continues to trade well in 2023 up 32% in January
Stock has benefitted from not only improved economic sentiment but also an end to the 2-year crack down on the Internet Sector
We suggest using call ratios to increase upside leverage prior to earnings release


EQD | Alibaba (BABA US): Leverage up Longs Using Call Ratios

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

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.

Equity Capital Markets

<ul>
<li>Wuxi Biologics Holdings is looking to raise up to US$513m by selling about 1.3% of <a href="https://www.smartkarma.com/entities/wuxi-apptec" target="_blank" data-smartkarma-citation="entities:23679:1" rel="noopener">Wuxi Biologics (2269 HK). </a>
</li>
<li>This is the company's 16th placement since it listed in June 2017. </li>
<li>In this note, we will discuss deal dynamics, past deal performance, and share the scores on our ECM framework.</li>
</ul>


Wuxi Biologics Holdings is looking to raise up to US$513m by selling about 1.3% of Wuxi Biologics (2269 HK). 

This is the company's 16th placement since it listed in June 2017. 
In this note, we will discuss deal dynamics, past deal performance, and share the scores on our ECM framework.


Wuxi Biologics Placement - Lesser Discount than Recent Deals but Still Looks Good

Equity Analyst, LightStream Research

Oshadhi Kumarasiri

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba (ADR) (BABA US)</a>, along with several other Chinese tech names have rallied more than 100% over the past 2.5 months with the Chinese government indicating regulatory crackdowns are over.</li>
<li>However, we think this could just be a temporary respite for tech names as there’s a lot more to be done in terms of a data security and privacy standpoint.</li>
<li>Nevertheless, <a href="https://www.smartkarma.com/entities/alibaba-group" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group (9988 HK)</a> is still quite expensive, given that government interventions have pretty much curtailed Alibaba’s avenues for growth in the domestic market.</li>
</ul>



Alibaba (ADR) (BABA US), along with several other Chinese tech names have rallied more than 100% over the past 2.5 months with the Chinese government indicating regulatory crackdowns are over.
However, we think this could just be a temporary respite for tech names as there’s a lot more to be done in terms of a data security and privacy standpoint.
Nevertheless, Alibaba Group (9988 HK) is still quite expensive, given that government interventions have pretty much curtailed Alibaba’s avenues for growth in the domestic market.


Alibaba: Buoyed By The Ending Crackdowns, Yet Expensive With No Turnaround in Sight For Cash Cows

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

<ul>
<li>The Chinese government may possibly buy minor shares in Alibaba and Tencent.</li>
<li>JD.com’s long-term competitor, Dangdang, opened a bookstore in JD.com's app.</li>
<li>In 2022, both Tencent Video Account's active user base and time on site reached 80% of We Chat.</li>
</ul>


The Chinese government may possibly buy minor shares in Alibaba and Tencent.
JD.com’s long-term competitor, Dangdang, opened a bookstore in JD.com's app.
In 2022, both Tencent Video Account's active user base and time on site reached 80% of We Chat.


China Internet Weekly (16Jan2023): Alibaba, Tencent, JD.com, ByteDance

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jan 6th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Tencent, Baba, Cm Bank, Bidu, Meituan, HSBC, Differ Gp Auto, Li Auto-W.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jan 6th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Tencent, Baba, Cm Bank, Bidu, Meituan, HSBC, Differ Gp Auto, Li Auto-W.


HK Short Interest Weekly: Tencent, Baba, CMB, Bidu, Meituan, HSBC, Differ, Li Auto

China

Alibaba Group Holding Limited provides online sales services. The Company provides internet infrastructure, electronic commerce, online financial, and internet content services through its subsidiaries. Alibaba Group Holding offers its products and services worldwide.

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Alibaba (9988 HK)

EQD | Alibaba (BABA US): Leverage up Longs Using Call Ratios

A look at BABA US and the recent move higher in the stock. We consider the backdrop for further upside and suggest a derivatives trade to...

Simon Harris

Wuxi Biologics Placement - Lesser Discount than Recent Deals but Still Looks Good

Wuxi Biologics Holdings is looking to raise up to US$513m by selling about 1.3% of Wuxi Biologics (2269 HK). This is the company's 16th placement...

Ethan Aw

Alibaba: Buoyed By The Ending Crackdowns, Yet Expensive With No Turnaround in Sight For Cash Cows

Alibaba, along with several other Chinese tech names have rallied more than 100% over the past two and a half months as the Chinese government...

Oshadhi Kumarasiri

China Internet Weekly (16Jan2023): Alibaba, Tencent, JD.com, ByteDance

Central governmental media encourages non-state-owned companies. JD’s competitor, Dangdang, opens a bookstore on JD.com. Tencent Video Account's...

Ming Lu

HK Short Interest Weekly: Tencent, Baba, CMB, Bidu, Meituan, HSBC, Differ, Li Auto

We analyzed the latest HK SFC report for aggregate short position as of Jan 6th and highlight short interest changes in Tencent, Baba, CMB, Bidu,...

Ke Yan, CFA, FRM

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52-week Range

Market Cap (USDm)

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