Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Index Rebalance

<ul>
<li>Nearly midway through the review period for the June rebalance of the <a href="https://www.smartkarma.com/entities/shanghai-shenzhen-csi-300-index" target="_blank" data-smartkarma-citation="entities:22906:1" rel="noopener">Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX)</a>, we see 29 potential changes to the index.</li>
<li>There are a lot of high and medium probability changes that could result in a one-way turnover of 4.2% and a one-way trade of CNY 10.17bn at the June rebalance.</li>
<li>The potential inclusions have underperformed the potential deletions by c.15% over the last month and this provides a good entry point into a long short/trade.</li>
</ul>


Nearly midway through the review period for the June rebalance of the Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX), we see 29 potential changes to the index.
There are a lot of high and medium probability changes that could result in a one-way turnover of 4.2% and a one-way trade of CNY 10.17bn at the June rebalance.
The potential inclusions have underperformed the potential deletions by c.15% over the last month and this provides a good entry point into a long short/trade.


CSI300 Index Rebalance Preview (June 2022): Changes Near the Midway Mark

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Betta Pharmaceuticals   / Equity Capital Markets

<ul>
<li>If the R&amp;D pipeline projects are not recognized by international capital,the main reason could be either the product development progress is lagging behind or the projects are not good enough.</li>
<li>The real innovative drugs would not be affected by generics that easily, and are to overturn the size of the old drug market.</li>
<li>The real risk of Betta would be revealed in the next few years as VBP promotes. So, we are conservative about the Company’s outlook at the current stage.</li>
</ul>


If the R&amp;D pipeline projects are not recognized by international capital,the main reason could be either the product development progress is lagging behind or the projects are not good enough.
The real innovative drugs would not be affected by generics that easily, and are to overturn the size of the old drug market.
The real risk of Betta would be revealed in the next few years as VBP promotes. So, we are conservative about the Company’s outlook at the current stage.


Pre-IPO Betta Pharmaceuticals - Lack of Staying Power

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zai-lab-ltd" target="_blank" data-smartkarma-citation="entities:25877:1" rel="noopener">Zai Lab Ltd (ZLAB US)</a> is famous for its license-in mode, but the biggest highlight is its strong vision and high success rate in the process, forming a distinctive pipeline.</li>
<li>The concerns such as the changes of pattern in license-in mode, attitude of the regulatory authorities, fierce competition and commercialization outlook also deserve attention.</li>
<li>Investing a company is actually investing in its people. We have confidence that Zai Lab would find its way out.</li>
</ul>



Zai Lab Ltd (ZLAB US) is famous for its license-in mode, but the biggest highlight is its strong vision and high success rate in the process, forming a distinctive pipeline.
The concerns such as the changes of pattern in license-in mode, attitude of the regulatory authorities, fierce competition and commercialization outlook also deserve attention.
Investing a company is actually investing in its people. We have confidence that Zai Lab would find its way out.


Zai Lab Ltd (ZLAB.US) - The Strength and the Concerns

Hansoh Pharmaceutical Group  / Equity Bottom-Up

<ul>
<li>We analyzed the key products and pipeline of <a href="https://www.smartkarma.com/entities/hansoh-pharmaceutical-group" target="_blank" data-smartkarma-citation="entities:23675:1" rel="noopener">Hansoh Pharmaceutical (3692 HK)</a>, which are uninspiring.</li>
<li>Investors could trade this stock when its valuation is at very low level or the valuation of entire sector is in upward trend by taking advantage of the positive momentum.</li>
<li>The cooperation with OliX Pharmaceuticals on siRNA could be a highlight, but the question is would you like to bet on it?</li>
</ul>


We analyzed the key products and pipeline of Hansoh Pharmaceutical (3692 HK), which are uninspiring.
Investors could trade this stock when its valuation is at very low level or the valuation of entire sector is in upward trend by taking advantage of the positive momentum.
The cooperation with OliX Pharmaceuticals on siRNA could be a highlight, but the question is would you like to bet on it?


Hansoh Pharmaceutical (3692.HK) - Lackluster Pipeline, so Bet on SiRNA?

Beijing Mabworks Biotech / Equity Capital Markets

<p>On July 18, 2021, <a href="https://www.smartkarma.com/entities/beijing-mabworks-biotech-company-limited" target="_blank" data-smartkarma-citation="entities:33816:1" rel="noopener">Beijing Mabworks Biotech (MWB HK) </a>formally submitted its application to the HKEX for listing on the main board. It should be noted that Mabworks's application for listing on the SSE STAR Market was accepted in September last year, but the Company voluntarily withdrew its application in March this year. Mabworks is a clinical-stage biopharmaceutical company in China focusing on the discovery and development of differentiated antibody drugs. This insight mainly analyzed the clinical-stage drug candidates and related concerns of the Company.</p>

On July 18, 2021, Beijing Mabworks Biotech (MWB HK) formally submitted its application to the HKEX for listing on the main board. It should be noted that Mabworks's application for listing on the SSE STAR Market was accepted in September last year, but the Company voluntarily withdrew its application in March this year. Mabworks is a clinical-stage biopharmaceutical company in China focusing on the discovery and development of differentiated antibody drugs. This insight mainly analyzed the clinical-stage drug candidates and related concerns of the Company.

Pre-IPO Beijing Mabworks Biotech - MIL62 Alone Cannot Save the Situation

China

Betta Pharmaceuticals Co., Ltd operates as a pharmaceutical company. The Company researches, manufactures, and sells drugs for the treatment of malignant tumors, diabetes, cardiovascular, cerebrovascular, and other related diseases. Betta Pharmaceuticals markets throughout China.

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Betta Pharmaceuticals (300558 CH)

CSI300 Index Rebalance Preview (June 2022): Changes Near the Midway Mark

Nearly midway through the review period for the June rebalance of the CSI300 index, we see 29 potential changes resulting in a one-way turnover of...

Brian Freitas

Pre-IPO Betta Pharmaceuticals - Lack of Staying Power

The insight analyzed Betta about key products such as Icotinib, Ensartinib, MIL60, CM082, concerns on slow product iteration,fierce...

Xinyao (Criss) Wang

Zai Lab Ltd (ZLAB.US) - The Strength and the Concerns

This insight analyzes Zai Lab about its distinctive pipeline, the management team, the concerns on license-in mode, regulatory...

Xinyao (Criss) Wang

Hansoh Pharmaceutical (3692.HK) - Lackluster Pipeline, so Bet on SiRNA?

This article mainly analyzed Hansoh Pharmaceutical in terms of the business, the key products, the pipeline, the concerns, the insights on...

Xinyao (Criss) Wang

Pre-IPO Beijing Mabworks Biotech - MIL62 Alone Cannot Save the Situation

This article mainly analyzed Mabworks Biotech in terms of the important clinical-stage drug candidates (MIL62, MIL93, MBS301, MIL97, MIL95, MIL86,...

Xinyao (Criss) Wang

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