Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/byd-co-ltd-h" target="_blank" data-smartkarma-citation="entities:20962:1" rel="noopener">BYD (1211 HK)</a> overtook <a href="https://www.smartkarma.com/entities/tesla-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla Motors (TSLA US)</a> as the largest EV maker by deliveries in December 2023.</li>
<li>Tesla is suspending work at its Berlin factory temporarily due to the tension in the Red Sea, while BYD’s supply chain is all in China.</li>
<li>BYD is trading at deep discount to Tesla on PEG, PER, and PBR.</li>
</ul>



BYD (1211 HK) overtook Tesla Motors (TSLA US) as the largest EV maker by deliveries in December 2023.
Tesla is suspending work at its Berlin factory temporarily due to the tension in the Red Sea, while BYD’s supply chain is all in China.
BYD is trading at deep discount to Tesla on PEG, PER, and PBR.


Quantitative Equity Analyst, DMA

Charlotte van Tiddens, CFA

Quantitative Equity Analyst

Technology-First Company

DMA is a technology-first company that provides an end-to-end SaaS solution to institutional investors. DMA enables regulated entities like asset managers, wealth managers, investment managers and financial advisors to connect their front and back office, break silos and reduce headcount.

Event-Driven

<ul>
<li>Regulatory risks back in the spotlight, dampening decent year for both counters.</li>
<li>At the end of last year, China’s regulator released a proposal to introduce spending and time limits on gaming (22 Dec).</li>
<li>Tencent was down 12% on the day, Naspers and Prosus followed suit with more aggressive selling, sending both stocks down 17% for the half day of trading. </li>
</ul>


Regulatory risks back in the spotlight, dampening decent year for both counters.
At the end of last year, China’s regulator released a proposal to introduce spending and time limits on gaming (22 Dec).
Tencent was down 12% on the day, Naspers and Prosus followed suit with more aggressive selling, sending both stocks down 17% for the half day of trading. 


Naspers (NPN) X Prosus (PRX): A Look Back at 2023, Regulatory Risk Back in Spotlight

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

<ul>
<li>In this note, we will take a look at the Asia Pacific IPO pipeline for 2024, starting with Hong Kong.</li>
<li>This list has been compiled on a best effort basis from tracking the company filings and through various other sources.</li>
<li>The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.</li>
</ul>


In this note, we will take a look at the Asia Pacific IPO pipeline for 2024, starting with Hong Kong.
This list has been compiled on a best effort basis from tracking the company filings and through various other sources.
The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.


Aequitas 2024 Asia IPO Pipeline - Hong Kong

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>Coffee Industry: Cotti Coffee promote the application of commercial robots, which we deemed as a gimmick (+)</li>
<li>1211 HK/300750 CH/ QS:US solid start battery startup posted positive test result and stock rose 40% (/)</li>
<li>2618 HK/ZTO/002352 CH/600233 CH/1519 HK/002120 CH/002468 CH: MOT announces new regulations on express parcel delivery (+/+/-/-/-/-/-)</li>
</ul>


Coffee Industry: Cotti Coffee promote the application of commercial robots, which we deemed as a gimmick (+)
1211 HK/300750 CH/ QS:US solid start battery startup posted positive test result and stock rose 40% (/)
2618 HK/ZTO/002352 CH/600233 CH/1519 HK/002120 CH/002468 CH: MOT announces new regulations on express parcel delivery (+/+/-/-/-/-/-)


[Blue Lotus Daily]: LKNCY/0000625 CH/1211 HK/300750 CH/QS/NIO/LI/2618 HK/ZTO/002352 CH/600233 CH

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

<ul>
<li>Chinese NEV (new energy vehicle) producers’ deliveries grew rapidly in 2023.</li>
<li>PDD closed most “local life” businesses, including hotel booking, movie ticketing, etc.</li>
<li>Jack Ma is no longer the controller of AliPay, the largest online payment app.</li>
</ul>


Chinese NEV (new energy vehicle) producers’ deliveries grew rapidly in 2023.
PDD closed most “local life” businesses, including hotel booking, movie ticketing, etc.
Jack Ma is no longer the controller of AliPay, the largest online payment app.


China Consumption Weekly (8 Jan 2024): BYD, Li Auto, PDD, AliPay, Mixue, Baidu

China

BYD Company Limited, through its subsidiaries, manufactures and sells automobiles. The Company also researches, develops, manufactures and sells batteries, which are applied on mobile phones, cordless phones, power tools and other kinds of portable electronic devices.

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BYD (1211 HK)

BYD Vs Tesla: Part Deux

BYD surpasses Tesla as top EV maker in Dec 2023; Tesla suspends work in Berlin due to Red Sea tension; BYD trades at a deep discount to Tesla on...

Henry Soediarko

Naspers (NPN) X Prosus (PRX): A Look Back at 2023, Regulatory Risk Back in Spotlight

A look into how the discounts traded through the year. Naspers outperformed Prosus by a large margin highlighting the merits of the structure...

DMA

Aequitas 2024 Asia IPO Pipeline - Hong Kong

In this note, we will take a look at the Asia Pacific IPO pipeline for 2024, starting with Hong Kong including the filed, lapsed and future filings.

Sumeet Singh

[Blue Lotus Daily]: LKNCY/0000625 CH/1211 HK/300750 CH/QS/NIO/LI/2618 HK/ZTO/002352 CH/600233 CH

Cotti promotion of commercial robots in the coffee industry. A battery startup had a positive test result, leading to a 40% rise in stock. MOT...

Blue Lotus Research Institute

China Consumption Weekly (8 Jan 2024): BYD, Li Auto, PDD, AliPay, Mixue, Baidu

Chinese NEV producers’ deliveries grew rapidly in 2023. PDD closed most “local life” businesses. Jack Ma is no longer the controller of AliPay.

Ming Lu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

BYD Vs Tesla: Part Deux

​BYD surpasses Tesla as top EV maker in Dec 2023; Tesla suspends work in Berlin due to Red Sea tension; BYD trades at a deep discount to Tesla on...

Henry Soediarko

Naspers (NPN) X Prosus (PRX): A Look Back at 2023, Regulatory Risk Back in Spotlight

A look into how the discounts traded through the year. Naspers outperformed Prosus by a large margin highlighting the merits of the structure...

DMA

Aequitas 2024 Asia IPO Pipeline - Hong Kong

In this note, we will take a look at the Asia Pacific IPO pipeline for 2024, starting with Hong Kong including the filed, lapsed and future filings.

Sumeet Singh

[Blue Lotus Daily]: LKNCY/0000625 CH/1211 HK/300750 CH/QS/NIO/LI/2618 HK/ZTO/002352 CH/600233 CH

​Cotti promotion of commercial robots in the coffee industry. A battery startup had a positive test result, leading to a 40% rise in stock. MOT...

Blue Lotus Research Institute

China Consumption Weekly (8 Jan 2024): BYD, Li Auto, PDD, AliPay, Mixue, Baidu

Chinese NEV producers’ deliveries grew rapidly in 2023. PDD closed most “local life” businesses. Jack Ma is no longer the controller of AliPay.

Ming Lu

BYD surpasses Tesla as top EV maker in Dec 2023; Tesla suspends work in Berlin due to Red Sea tension; BYD trades at a deep discount to Tesla on...

Cotti promotion of commercial robots in the coffee industry. A battery startup had a positive test result, leading to a 40% rise in stock. MOT...