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 changes in foreign holdings of KRX stocks as of Aug 8th. The aggregated holding was USD649.4bn.</li>
<li>We estimate that foreign flows to be outflows of USD271mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Samsung Electronics, NAVER, KEPCO, Kakao, HYUNDAI ROTEM.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Aug 8th. The aggregated holding was USD649.4bn.
We estimate that foreign flows to be outflows of USD271mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Samsung Electronics, NAVER, KEPCO, Kakao, HYUNDAI ROTEM.


KRX Foreign Holding Weekly (Aug 8th): Samsung Electronics, NAVER, KEPCO, Kakao, HYUNDAI ROTEM

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>On 6 August, the Korean government confirmed visa-free entry of group tourists from China to South Korea.</li>
<li>The new policy will allow the group tourists from China to visit South Korea on a visa-free basis from 29 September 2025 to end of June 2026.</li>
<li>We provide a list of top 20 companies in Korea that are key beneficiaries of the no visa policy for group tour visitors from China to South Korea.</li>
</ul>


On 6 August, the Korean government confirmed visa-free entry of group tourists from China to South Korea.
The new policy will allow the group tourists from China to visit South Korea on a visa-free basis from 29 September 2025 to end of June 2026.
We provide a list of top 20 companies in Korea that are key beneficiaries of the no visa policy for group tour visitors from China to South Korea.


Korean Government Confirms Visa-Free Entry of Group Tourists from China to South Korea

<ul>
<li>Korea surpassed France as the top exporter of cosmetics to the USA in 2024. Korea exported $1.7 billion worth of cosmetics to the USA in 2024, up 54.2% YoY.</li>
<li>CJ Olive Young's online cosmetic sales to overseas markets soared 70% YoY in 1H 2025, fueled largely by the explosive demand from the United States.</li>
<li>We have raised our NAV valuation of CJ Corp to 207,713 won per share (up 28%). We raised the valuation of CJ Olive Young to 7 trillion won. </li>
</ul>


Korea surpassed France as the top exporter of cosmetics to the USA in 2024. Korea exported $1.7 billion worth of cosmetics to the USA in 2024, up 54.2% YoY.
CJ Olive Young's online cosmetic sales to overseas markets soared 70% YoY in 1H 2025, fueled largely by the explosive demand from the United States.
We have raised our NAV valuation of CJ Corp to 207,713 won per share (up 28%). We raised the valuation of CJ Olive Young to 7 trillion won. 


Korea Surpasses France as Top Exporter of Cosmetics to the USA [CJ Olive Young - Key Beneficiary]

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Jul 18th. The aggregated holding was USD636.7bn.</li>
<li>We estimate that foreign flows to be inflows of USD758mln. We tabulates the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Samsung Electronics, Sksquare, SK Hynix, Naver.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Jul 18th. The aggregated holding was USD636.7bn.
We estimate that foreign flows to be inflows of USD758mln. We tabulates the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Samsung Electronics, Sksquare, SK Hynix, Naver.


KRX Foreign Holding Weekly (Jul 18th): Samsung Electronics, Sksquare, SK Hynix, Naver

<ul>
<li>In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the two weeks (18 July to 1 August 2025).</li>
<li>Our top 10 picks were up on average 4.5% in the past two weeks, slightly outperforming KOSPI which was up 4.4% in the same period.</li>
<li>The top 10 picks in this bi-weekly include Hanil Cement, LG CNS, KCC Corp, Poongsan, Paradise, Samsung Electronics, Naver, SM Entertainment, LG Chem, and SK Inc. </li>
</ul>


In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the two weeks (18 July to 1 August 2025).
Our top 10 picks were up on average 4.5% in the past two weeks, slightly outperforming KOSPI which was up 4.4% in the same period.
The top 10 picks in this bi-weekly include Hanil Cement, LG CNS, KCC Corp, Poongsan, Paradise, Samsung Electronics, Naver, SM Entertainment, LG Chem, and SK Inc. 


Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (18 July to 1 August 2025)

South Korea

APR Corporation of Korea operates cosmetics businesses. The Company develops and produces facial mask, lotion, elite fluid, and other products. APR also develops and manufactures beauty devices.

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APR (278470 KS)

KRX Foreign Holding Weekly (Aug 8th): Samsung Electronics, NAVER, KEPCO, Kakao, HYUNDAI ROTEM

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Samsung Electronics, NAVER, KEPCO, Kakao, HYUNDAI...

Ke Yan, CFA, FRM

Korean Government Confirms Visa-Free Entry of Group Tourists from China to South Korea

We provide a list of top 20 companies in Korea that are key beneficiaries of the no visa policy for group tour visitors from China to South Korea.

Douglas Kim

Korea Surpasses France as Top Exporter of Cosmetics to the USA [CJ Olive Young - Key Beneficiary]

Korea surpassed France as the top exporter of cosmetics to the USA in 2024. We have raised our NAV valuation of CJ Corp to 207,713 won per share...

Douglas Kim

KRX Foreign Holding Weekly (Jul 18th): Samsung Electronics, Sksquare, SK Hynix, Naver

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Samsung Electronics, Sksquare, SK Hynix, Naver.

Ke Yan, CFA, FRM

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (18 July to 1 August 2025)

The top 10 picks in this bi-weekly include Hanil Cement, LG CNS, KCC Corp, Poongsan, Paradise, Samsung Electronics, Naver, SM Entertainment, LG...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)