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 Nov 25th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Ganfeng Lithium, Netease, Tencent, Li Ning.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Nov 25th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Ganfeng Lithium, Netease, Tencent, Li Ning.


HK Short Interest Weekly: Ganfeng Lithium, Netease, Tencent, Li Ning

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of December 2nd.</li>
<li>We estimate the weekly inflows to be US$3,984.1 million, led by information technology, consumer discretionary, industrials sectors, and offset by utilities, energy.</li>
<li>We highlight flows for Wuliangye, CATL, Shenzhen Mindray, Longi Green.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of December 2nd.
We estimate the weekly inflows to be US$3,984.1 million, led by information technology, consumer discretionary, industrials sectors, and offset by utilities, energy.
We highlight flows for Wuliangye, CATL, Shenzhen Mindray, Longi Green.


Northbound Flows (Dec 2nd): Wuliangye, CATL, Mindray, Longi Green

<ul>
<li>We analyse the changes of A-H premium on 142 stocks over the last week. The average A-H premium was 118.8% as of Dec 2nd.</li>
<li>The average A-H premium changed by 0.6ppt week on week, led by consumer staples, real estate, information technology and offset by consumer discretionary, materials.</li>
<li>We highlight weekly changes in A-H premium for China Longyuan, Ganfeng Lithium, China Minsheng, Guolian Securities, Shanghai Fudan, Red Star Macalline, Joinn Lab, Cosco Shipping Energy, Great Wall Mortor.</li>
</ul>


We analyse the changes of A-H premium on 142 stocks over the last week. The average A-H premium was 118.8% as of Dec 2nd.
The average A-H premium changed by 0.6ppt week on week, led by consumer staples, real estate, information technology and offset by consumer discretionary, materials.
We highlight weekly changes in A-H premium for China Longyuan, Ganfeng Lithium, China Minsheng, Guolian Securities, Shanghai Fudan, Red Star Macalline, Joinn Lab, Cosco Shipping Energy, Great Wall Mortor.


A-H Premium Weekly (Dec 2nd): China Longyuan, Ganfeng Lithium

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

Sunshine Insurance Group  Lt / Equity Capital Markets

<ul>
<li>Sunshine Insurance Group (SIG), a life, health and P&amp;C insurance company, aims to raise up to US$1bn in its HK IPO.</li>
<li>SIG is an integrated insurance provider which offers both life and health (L&amp;H) and property and casualty (P&amp;C) insurance in China.</li>
<li>We have looked at the company’s past performance in our previous notes. In this note, we will undertake a peer comparison.</li>
</ul>


Sunshine Insurance Group (SIG), a life, health and P&amp;C insurance company, aims to raise up to US$1bn in its HK IPO.
SIG is an integrated insurance provider which offers both life and health (L&amp;H) and property and casualty (P&amp;C) insurance in China.
We have looked at the company’s past performance in our previous notes. In this note, we will undertake a peer comparison.


Sunshine Insurance Group Pre-IPO - Peer Comparison - Fastest in One Segment, Slowest in the Other

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Shenzhen Mindray Bio-Medical Electronics / Event-Driven

<ul>
<li>Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.</li>
<li>Overall, net inflow over the past week was ~US$0.83bn, split between Shanghai (+US$1.16bn) and Shenzhen (-US$0.32bn).</li>
<li>The largest inflows were into <a href="https://www.smartkarma.com/entities/kweichow-moutai-co-ltd-a" target="_blank" data-smartkarma-citation="entities:1553:1" rel="noopener">Kweichow Moutai (600519 CH)</a> and <a href="https://www.smartkarma.com/entities/shenzhen-mindray-bio-medic-a" target="_blank" data-smartkarma-citation="entities:28017:1" rel="noopener">Shenzhen Mindray Bio-Medical (300760 CH)</a>. The largest outflows were in <a href="https://www.smartkarma.com/entities/yunnan-chuangxin-new-material" target="_blank" data-smartkarma-citation="entities:27135:1" rel="noopener">Yunnan Energy New Material (002812 CH)</a> and <a href="https://www.smartkarma.com/entities/byd-co-ltd" target="_blank" data-smartkarma-citation="entities:26048:1" rel="noopener">BYD (002594 CH)</a>.</li>
</ul>


Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.
Overall, net inflow over the past week was ~US$0.83bn, split between Shanghai (+US$1.16bn) and Shenzhen (-US$0.32bn).
The largest inflows were into Kweichow Moutai (600519 CH) and Shenzhen Mindray Bio-Medical (300760 CH). The largest outflows were in Yunnan Energy New Material (002812 CH) and BYD (002594 CH).


Shanghai/​​​​​​​​​​​​​​​​​​​​​​Shenzhen Northbound Connect: Weekly Moves (25 November 2022)

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.

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

BYD (1211 HK)

HK Short Interest Weekly: Ganfeng Lithium, Netease, Tencent, Li Ning

We analyzed the latest HK SFC report for aggregate short position and highlight short interest changes in Ganfeng Lithium, Netease, Tencent, Li Ning.

Ke Yan, CFA, FRM

Northbound Flows (Dec 2nd): Wuliangye, CATL, Mindray, Longi Green

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Wuliangye, CATL, Mindray, Longi Green.

Ke Yan, CFA, FRM

A-H Premium Weekly (Dec 2nd): China Longyuan, Ganfeng Lithium

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China Longyuan, Ganfeng Lithium, Shanghai Fudan, Red Star...

Ke Yan, CFA, FRM

Sunshine Insurance Group Pre-IPO - Peer Comparison - Fastest in One Segment, Slowest in the Other

Sunshine Insurance Group (SIG), a life, health and P&C insurance company, aims to raise up to US$1bn in its HK IPO. In this note, we undertake a...

Sumeet Singh

Shanghai/Shenzhen Northbound Connect: Weekly Moves (25 November 2022)

Overall, net inflow over the past week in the HK -Shanghai-Shenzhen Northbound Connect facilities was ~US$0.83bn, split between Shanghai...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HK Short Interest Weekly: Ganfeng Lithium, Netease, Tencent, Li Ning

We analyzed the latest HK SFC report for aggregate short position and highlight short interest changes in Ganfeng Lithium, Netease, Tencent, Li Ning.

Ke Yan, CFA, FRM

Northbound Flows (Dec 2nd): Wuliangye, CATL, Mindray, Longi Green

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Wuliangye, CATL, Mindray, Longi Green.

Ke Yan, CFA, FRM

A-H Premium Weekly (Dec 2nd): China Longyuan, Ganfeng Lithium

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China Longyuan, Ganfeng Lithium, Shanghai Fudan, Red Star...

Ke Yan, CFA, FRM

Sunshine Insurance Group Pre-IPO - Peer Comparison - Fastest in One Segment, Slowest in the Other

Sunshine Insurance Group (SIG), a life, health and P&C insurance company, aims to raise up to US$1bn in its HK IPO. In this note, we undertake a...

Sumeet Singh

Shanghai/​​​​​​​​​​​​​​​​​​​​​​Shenzhen Northbound Connect: Weekly Moves (25 November 2022)

Overall, net inflow over the past week in the HK -Shanghai-Shenzhen Northbound Connect facilities was ~US$0.83bn, split between Shanghai...

David Blennerhassett

Shanghai/Shenzhen Northbound Connect: Weekly Moves (25 November 2022)