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 analyzed the latest HK SFC report for aggregate short position as of Mar 7th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Trip.Com, Anta Sports, Sunac, China Tower, HKEx, CSOP HSTECH 2X ETF.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Mar 7th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Trip.Com, Anta Sports, Sunac, China Tower, HKEx, CSOP HSTECH 2X ETF.


HK Short Interest Weekly: Trip.Com, Anta Sports, Sunac, China Tower, HKEx

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Mar 14th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Cnbm (3323 HK), Swire Pacific (19 HK), Techtronic (669 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Cnbm (3323 HK), Swire Pacific (19 HK), Crrc Times Electric (3898 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Mar 14th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Cnbm (3323 HK), Swire Pacific (19 HK), Techtronic (669 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Cnbm (3323 HK), Swire Pacific (19 HK), Crrc Times Electric (3898 HK).


Hong Kong Buybacks Weekly (Mar 14th): Cnbm, Swire Pacific, Techtronic

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight inflows into Alibaba, Li Auto, China Mobile and outflows from Tencent.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight inflows into Alibaba, Li Auto, China Mobile and outflows from Tencent.


Hong Kong Connect Flows (February): $6bn Inflows into Alibaba

HK/China Equity Long-Short

Osbert Tang, CFA

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/china-dongxiang-group-co" target="_blank" data-smartkarma-citation="entities:1068:1" rel="noopener">China Dongxiang (3818 HK)</a>'s share price change has not sufficiently reflected <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd-d7b798e2-202d-4e01-9a1e-799e2ae8f0c7" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group (9988 HK)</a>'s movement. Their share price ratio is now at a historical low. </li>
<li>Its SOTP value increased by HK$927m with the surge in its PE, unlisted and fixed-income investment value, but its market capitalisation has gone up by just HK$258m.</li>
<li>Holdings in unlisted assets like Ant Financial and JD Technology (JD Digital) will benefit from the AI bonanza and the better sentiment in the HK IPO market.</li>
</ul>



China Dongxiang (3818 HK)'s share price change has not sufficiently reflected Alibaba Group (9988 HK)'s movement. Their share price ratio is now at a historical low. 
Its SOTP value increased by HK$927m with the surge in its PE, unlisted and fixed-income investment value, but its market capitalisation has gone up by just HK$258m.
Holdings in unlisted assets like Ant Financial and JD Technology (JD Digital) will benefit from the AI bonanza and the better sentiment in the HK IPO market.


China Dongxiang (3818 HK): More than Just BABA

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Feb 21st based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Crrc Times (3898 HK), Swire Pacific (19 HK), Cosco Shipping (1919 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were AIA (1299 HK), HSBC (5 HK), Cosco Shipping (1919 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Feb 21st based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Crrc Times (3898 HK), Swire Pacific (19 HK), Cosco Shipping (1919 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were AIA (1299 HK), HSBC (5 HK), Cosco Shipping (1919 HK).


Hong Kong Buybacks Weekly (Feb 21st): Zhuzhou Crrc Times Electric, Swire Pacific, Cosco Shipping

China

ANTA Sports Products Limited designs, develops, manufactures, and markets sportswear, including sports footwear and apparel for professionals and the general public.

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

Anta Sports Products (2020 HK)

HK Short Interest Weekly: Trip.Com, Anta Sports, Sunac, China Tower, HKEx

We analyzed the latest HK SFC report for aggregate short position as of Mar 7th and highlight short interest changes in Trip.Com, Anta Sports,...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Mar 14th): Cnbm, Swire Pacific, Techtronic

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Cnbm (3323 HK),...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (February): $6bn Inflows into Alibaba

We analyzed the Hong Kong Connect Scheme for February and highlighted flows for Alibaba, Li Auto, China Mobile and outflows from Tencent.

Ke Yan, CFA, FRM

China Dongxiang (3818 HK): More than Just BABA

CNDX's share price has not reflected BABA's, and the price ratio is at a historical low. The change in market cap has not kept pace with SOTP. Its...

Osbert Tang, CFA

Hong Kong Buybacks Weekly (Feb 21st): Zhuzhou Crrc Times Electric, Swire Pacific, Cosco Shipping

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Zhuzhou Crrc Times...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HK Short Interest Weekly: Trip.Com, Anta Sports, Sunac, China Tower, HKEx

We analyzed the latest HK SFC report for aggregate short position as of Mar 7th and highlight short interest changes in Trip.Com, Anta Sports,...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Mar 14th): Cnbm, Swire Pacific, Techtronic

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Cnbm (3323 HK),...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (February): $6bn Inflows into Alibaba

We analyzed the Hong Kong Connect Scheme for February and highlighted flows for Alibaba, Li Auto, China Mobile and outflows from Tencent.

Ke Yan, CFA, FRM

China Dongxiang (3818 HK): More than Just BABA

​CNDX's share price has not reflected BABA's, and the price ratio is at a historical low. The change in market cap has not kept pace with SOTP. Its...

Osbert Tang, CFA

Hong Kong Buybacks Weekly (Feb 21st): Zhuzhou Crrc Times Electric, Swire Pacific, Cosco Shipping

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Zhuzhou Crrc Times...

Ke Yan, CFA, FRM

CNDX's share price has not reflected BABA's, and the price ratio is at a historical low. The change in market cap has not kept pace with SOTP. Its...