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 March 31st.</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 Tencent, Meituan, Bilibili, Lenovo, Kingsoft, China Construction Bank.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 31st.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent, Meituan, Bilibili, Lenovo, Kingsoft, China Construction Bank.


Hong Kong Connect Flows (Mar 31st): Tencent, Meituan, Bilibili, Lenovo, Kingsoft, CCB

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

Equity Bottom-Up

<ul>
<li>Chinese Apps’ time on site decreased to 26.7 hours in 2022 from 28.5 hours in 2021.</li>
<li>The Press and Publication Administration approved 27 imported games in March.</li>
<li>Douyin launched a medium-duration video app, which can be Bilibili's competitor.</li>
</ul>


Chinese Apps’ time on site decreased to 26.7 hours in 2022 from 28.5 hours in 2021.
The Press and Publication Administration approved 27 imported games in March.
Douyin launched a medium-duration video app, which can be Bilibili's competitor.


China Internet Weekly (27Mar2023): Douyin, Bilibili, Tencent, NetEase, JD Health, Zhihu

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 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 estimate that the total inflows were USD3.3bn last week and highlight flows for Meituan, Tencent, Bilibili.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 24th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We estimate that the total inflows were USD3.3bn last week and highlight flows for Meituan, Tencent, Bilibili.


Hong Kong Connect Flows (Mar 24th): Meituan, Tencent, Bilibili

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 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 Tencent, China Mobile, ICBC, Bilibili, Meituan, Xiaomi.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 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 Tencent, China Mobile, ICBC, Bilibili, Meituan, Xiaomi.


Hong Kong Connect Flows (Mar 17th): Tencent, China Mobile, ICBC, Bilibili, Meituan, Xiaomi

<ul>
<li>The fourth quarter looks like a weak quarter according to the growth and the loss.</li>
<li>However, deducting the termination cost for game studios, we believe the financials will be promising in 2023.</li>
<li>We believe the stock has an upside of 19% for the yearend 2023.</li>
</ul>


The fourth quarter looks like a weak quarter according to the growth and the loss.
However, deducting the termination cost for game studios, we believe the financials will be promising in 2023.
We believe the stock has an upside of 19% for the yearend 2023.


Bilibili (9626 HK): 4Q22, Not Really Weak Quarter, But Transition for Dropping Games

China

Bilibili Inc. provides online entertainment services. The Company offers a platform that covers a wide array of genres and media formats, including videos, live broadcasting, mobile games, animation, and comics. Bilibili serves customers in China.

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

Bilibili (9626 HK)

Hong Kong Connect Flows (Mar 31st): Tencent, Meituan, Bilibili, Lenovo, Kingsoft, CCB

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Tencent, Meituan, Bilibili, Lenovo, Kingsoft, China...

Ke Yan, CFA, FRM

China Internet Weekly (27Mar2023): Douyin, Bilibili, Tencent, NetEase, JD Health, Zhihu

Apps’ time on site decreased in 2022 in China. The authorities approved 27 imported games in March. Douyin launched a Bilibili-like app, Green Peach.

Ming Lu

Hong Kong Connect Flows (Mar 24th): Meituan, Tencent, Bilibili

We analyzed the Hong Kong Connect Scheme for last week and highlight flows for Meituan (3690 HK), Tencent (700 HK), and Bilibili (9626 HK).

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Mar 17th): Tencent, China Mobile, ICBC, Bilibili, Meituan, Xiaomi

We analyzed the Hong Kong Connect Scheme for last week and highlight flows for Tencent, China Mobile, ICBC, Bilibili, Meituan, Xiaomi.

Ke Yan, CFA, FRM

Bilibili (9626 HK): 4Q22, Not Really Weak Quarter, But Transition for Dropping Games

The fourth quarter looks like a weak quarter; however, deducting the termination cost for game s, we believe the financials will be promising in...

Ming Lu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)