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 December 1st.</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 weekly Hongkong connect flows for Meituan and Tencent.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of December 1st.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight weekly Hongkong connect flows for Meituan and Tencent.


Hong Kong Connect Flows (Dec 1st): Meituan, Tencent

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 24th.</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 Xpeng, Tencent, Meituan and Li Auto.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 24th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Xpeng, Tencent, Meituan and Li Auto.


Hong Kong Connect Flows (Nov 24th): Xpeng, Tencent, Meituan, Li Auto

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

<ul>
<li>KN046’s commercialization prospects is limited if it doesn’t demonstrate better results than PD-1 in head-to-head trial. The value of KN046 still lies in its potential to treat PDAC not sqNSCLC.</li>
<li>KN026 is difficult to become a blockbuster variety. JSKN003 may not have good opportunity in front of DS-8201. Many investors are unhappy with Alphamab’s credibility and information disclosure quality.</li>
<li>Alphamab’s valuation is already at low level. However, considering the current pessimistic sentiment towards biotech in HKEX, investors are advised to remain cautious, and just short-term trade is recommended.</li>
</ul>


KN046’s commercialization prospects is limited if it doesn’t demonstrate better results than PD-1 in head-to-head trial. The value of KN046 still lies in its potential to treat PDAC not sqNSCLC.
KN026 is difficult to become a blockbuster variety. JSKN003 may not have good opportunity in front of DS-8201. Many investors are unhappy with Alphamab’s credibility and information disclosure quality.
Alphamab’s valuation is already at low level. However, considering the current pessimistic sentiment towards biotech in HKEX, investors are advised to remain cautious, and just short-term trade is recommended.


Alphamab Co Ltd (9966.HK) - Valuation Is Already Low, but Many Issues Hinder the Bullish View

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 10th.</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 the flows for Tencent, China Mobile and CNOOC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 10th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight the flows for Tencent, China Mobile and CNOOC.


Hong Kong Connect Flows (Nov 10th): Tencent, China Mobile, CNOOC

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 3rd.</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 Li Ning, Semiconductor Manufacturing International, Xiaomi, Wuxi Biologics, Kuaishou Technology.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 3rd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Li Ning, Semiconductor Manufacturing International, Xiaomi, Wuxi Biologics, Kuaishou Technology.


Hong Kong Connect Flows (Nov 3rd): Li Ning, SMIC, Xiaomi

China

Alphamab Oncology produces and sells drugs. The Company manufactures and sells tumor immunobiology macromolecular targeted drug and other products. Alphamab Oncology provides services worldwide.

Price Gauge
52-week Range	0.00 - 0.00
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Alphamab Co Ltd (9966 HK)

Hong Kong Connect Flows (Dec 1st): Meituan, Tencent

We analyzed southbound weekly Hong Kong connect flows in the past week and we highlighted weekly flows for Meituan and Tencent.

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Nov 24th): Xpeng, Tencent, Meituan, Li Auto

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

Ke Yan, CFA, FRM