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 analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 17th.</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 SMIC, Alibaba, Xiaomi, Tencent, Pop Mart Intl, China Mobile, Meituan, Innovent Biologics, ICBC, Wuxi Biologics.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 17th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for SMIC, Alibaba, Xiaomi, Tencent, Pop Mart Intl, China Mobile, Meituan, Innovent Biologics, ICBC, Wuxi Biologics.


HK Connect Flows Weekly (Oct 17th): SMIC, Alibaba, Xiaomi, Tencent, Pop Mart Intl, China Mobile

Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

Mandarin Oriental International / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jardine-matheson-holdings-ltd" target="_blank" data-smartkarma-citation="entities:19718:1" rel="noopener">Jardine Matheson Holdings (JM SP)</a> has proposed to take <a href="https://www.smartkarma.com/entities/mandarin-oriental-international-ltd" target="_blank" data-smartkarma-citation="entities:4773:1" rel="noopener">Mandarin Oriental International (MAND SP)</a> private</li>
<li>While the deal has a high chance of success, given the 88% ownership of MAND by JM, it undervalues Mandarin Oriental significantly.</li>
<li>Jardine is effectively paying for the fair value of One Causeway building and is getting global hotel operations for a bargain price.</li>
</ul>



Jardine Matheson Holdings (JM SP) has proposed to take Mandarin Oriental International (MAND SP) private
While the deal has a high chance of success, given the 88% ownership of MAND by JM, it undervalues Mandarin Oriental significantly.
Jardine is effectively paying for the fair value of One Causeway building and is getting global hotel operations for a bargain price.


Mandarin Oriental: Good Deal for Jardine, Not So Much for Mandarin Oriental Minorities

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hang-seng-bank-ltd" target="_blank" data-smartkarma-citation="entities:24:1" rel="noopener">Hang Seng Bank (11 HK)</a> is trading tight  - perhaps too tight - to terms, as every punter views the deal as a term deposit.</li>
<li>Be long <a href="https://www.smartkarma.com/entities/welcia-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:20895:1" rel="noopener">Welcia Holdings (3141 JP)</a>. Be long <a href="https://www.smartkarma.com/entities/tsuruha-holdings-inc" target="_blank" data-smartkarma-citation="entities:9536:1" rel="noopener">Tsuruha Holdings (3391 JP)</a>. Buy dips. Buy big dips post-tender. Future guidance will include synergy effects.</li>
<li>Richard Li's <a href="https://www.smartkarma.com/entities/hkt-ltd" target="_blank" data-smartkarma-citation="entities:874:1" rel="noopener">HKT Ltd (6823 HK)</a> is in the crosshairs as FCC moves to expel the telco from U.S. networks. </li>
</ul>



Hang Seng Bank (11 HK) is trading tight  - perhaps too tight - to terms, as every punter views the deal as a term deposit.
Be long Welcia Holdings (3141 JP). Be long Tsuruha Holdings (3391 JP). Buy dips. Buy big dips post-tender. Future guidance will include synergy effects.
Richard Li's HKT Ltd (6823 HK) is in the crosshairs as FCC moves to expel the telco from U.S. networks. 


Last Week In Event SPACE: Hang Seng, Welcia/Tsuruha, HKT, Genting, Daiichi, Aussie Rare Earths

Hangzhou Kangji Medical Instrument Co., Ltd. / Event-Driven

Hangzhou Kangji Medical Instrument Co., Ltd.

<ul>
<li>I tally 43 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma.</li>
<li>Three new deal was discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/mandarin-oriental-international-ltd" target="_blank" data-smartkarma-citation="entities:4773:1" rel="noopener">Mandarin Oriental International (MAND SP)</a>, <a href="https://www.smartkarma.com/entities/rpmglobal-holdings-limited" target="_blank" data-smartkarma-citation="entities:16492:1" rel="noopener">RPMGlobal Holdings Limited (RUL AU)</a> and <a href="https://www.smartkarma.com/entities/genting-malaysia-bhd" target="_blank" data-smartkarma-citation="entities:3141:1" rel="noopener">Genting Malaysia (GENM MK)</a>.</li>
<li>Key updates/news took place on: <a href="https://www.smartkarma.com/entities/mayne-pharma-group-ltd" target="_blank" data-smartkarma-citation="entities:757:1" rel="noopener">Mayne Pharma (MYX AU)</a>, <a href="https://www.smartkarma.com/entities/iress-ltd" target="_blank" data-smartkarma-citation="entities:15342:1" rel="noopener">Iress Ltd (IRE AU)</a>, and <a href="https://www.smartkarma.com/entities/hangzhou-kangji-medical-instrument-co-ltd" target="_blank" data-smartkarma-citation="entities:28938:1" rel="noopener">Hangzhou Kangji Medical Instrument Co., Ltd. (9997 HK)</a>.</li>
</ul>


I tally 43 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma.
Three new deal was discussed on Smartkarma this week: Mandarin Oriental International (MAND SP), RPMGlobal Holdings Limited (RUL AU) and Genting Malaysia (GENM MK).
Key updates/news took place on: Mayne Pharma (MYX AU), Iress Ltd (IRE AU), and Hangzhou Kangji Medical Instrument Co., Ltd. (9997 HK).


(Mostly) Asia-Pac M&A: Mandarin Oriental, RPMGlobal, Genting, Mayne Pharma, Iress, Kangji Medical

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>
Context: Volatility cones provide a straightforward framework to evaluate whether options are trading cheap or rich. This Insight provides volatility analysis for eight prominent Hong Kong stocks and the <a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">HSI Index</a>.</li>
<li>
Highlights: Recent market turbulence moderately lifted implied volatility for many stocks, but not to extreme levels. The approaching earnings season impacts October and November implied volatility.</li>
<li>
Why Read: Spot opportunities, assess regime shifts, and manage risk effectively — volatility cones turn complex data into actionable insights for traders and investors.</li>
</ul>



Context: Volatility cones provide a straightforward framework to evaluate whether options are trading cheap or rich. This Insight provides volatility analysis for eight prominent Hong Kong stocks and the HSI Index.

Highlights: Recent market turbulence moderately lifted implied volatility for many stocks, but not to extreme levels. The approaching earnings season impacts October and November implied volatility.

Why Read: Spot opportunities, assess regime shifts, and manage risk effectively — volatility cones turn complex data into actionable insights for traders and investors.


Tariff Shock Sends HK Volatility Higher: Meituan (3690 HK) Looks Cheap, Alibaba (9988 HK) Stays Rich

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.

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

Alibaba (BABA US)

HK Connect Flows Weekly (Oct 17th): SMIC, Alibaba, Xiaomi, Tencent, Pop Mart Intl, China Mobile

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for SMIC (981 HK), Alibaba (9988 HK), Xiaomi (1810 HK),...

Ke Yan, CFA, FRM

Mandarin Oriental: Good Deal for Jardine, Not So Much for Mandarin Oriental Minorities

Jardine Matheson Holdings proposes to take Mandarin Oriental International private, a deal with high chance of success but undervaluing the...

Nicolas Van Broekhoven

Last Week In Event SPACE: Hang Seng, Welcia/Tsuruha, HKT, Genting, Daiichi, Aussie Rare Earths

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

(Mostly) Asia-Pac M&A: Mandarin Oriental, RPMGlobal, Genting, Mayne Pharma, Iress, Kangji Medical

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Tariff Shock Sends HK Volatility Higher: Meituan (3690 HK) Looks Cheap, Alibaba (9988 HK) Stays Rich

Hong Kong volatility surged after U.S. tariff threats, with options pricing highlighting Meituan’s historically low implied volatility and elevated...

Gaudenz Schneider

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HK Connect Flows Weekly (Oct 17th): SMIC, Alibaba, Xiaomi, Tencent, Pop Mart Intl, China Mobile

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for SMIC (981 HK), Alibaba (9988 HK), Xiaomi (1810 HK),...

Ke Yan, CFA, FRM

Mandarin Oriental: Good Deal for Jardine, Not So Much for Mandarin Oriental Minorities

​Jardine Matheson Holdings proposes to take Mandarin Oriental International private, a deal with high chance of success but undervaluing the...

Nicolas Van Broekhoven

Last Week In Event SPACE: Hang Seng, Welcia/Tsuruha, HKT, Genting, Daiichi, Aussie Rare Earths

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

(Mostly) Asia-Pac M&A: Mandarin Oriental, RPMGlobal, Genting, Mayne Pharma, Iress, Kangji Medical

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Tariff Shock Sends HK Volatility Higher: Meituan (3690 HK) Looks Cheap, Alibaba (9988 HK) Stays Rich

Hong Kong volatility surged after U.S. tariff threats, with options pricing highlighting Meituan’s historically low implied volatility and elevated...

Gaudenz Schneider

Jardine Matheson Holdings proposes to take Mandarin Oriental International private, a deal with high chance of success but undervaluing the...