ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

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/astra-otoparts-tbk-pt" target="_blank" data-smartkarma-citation="entities:16766:1" rel="noopener">Astra Otoparts (AUTO IJ)</a> looks set to see increasing contributions from its modern retail push, which will boost its trading business and should see margins improving over time.</li>
<li>AUTO is pushing into both the EV component space and manufacturing public and residential EV charging equipment. It is also venturing into medical devices as local content becomes a requirement.</li>
<li>AUTO has outperformed the auto market since the pandemic and looks set to continue to do so through new growth segments. Valuations attractive on 5.5x forward PER and 8% yield.</li>
</ul>



Astra Otoparts (AUTO IJ) looks set to see increasing contributions from its modern retail push, which will boost its trading business and should see margins improving over time.
AUTO is pushing into both the EV component space and manufacturing public and residential EV charging equipment. It is also venturing into medical devices as local content becomes a requirement.
AUTO has outperformed the auto market since the pandemic and looks set to continue to do so through new growth segments. Valuations attractive on 5.5x forward PER and 8% yield.


Astra Otoparts (AUTO IJ) - EVs, Modern Retail, and Medical Equipment

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>LI US/1211 HK/1810 HK/XPEV US/NIO US/9863 HK/ZK US:In the 47th week of new energy vehicles, LI and BYD were impacted by new new forces. (////////////)</li>
<li>1211 HK:BYD Requests Suppliers to Reduce Prices by 10% in 2025.(+)</li>
<li>1810 HK/JD US: Jiangsu Province Expands Consumer Subsidy Scope, Adding 27 Product Categories Including Mobile Phones and Laptops.(+/+)</li>
</ul>


LI US/1211 HK/1810 HK/XPEV US/NIO US/9863 HK/ZK US:In the 47th week of new energy vehicles, LI and BYD were impacted by new new forces. (////////////)
1211 HK:BYD Requests Suppliers to Reduce Prices by 10% in 2025.(+)
1810 HK/JD US: Jiangsu Province Expands Consumer Subsidy Scope, Adding 27 Product Categories Including Mobile Phones and Laptops.(+/+)


[Blue Lotus Daily]:LI US/1211 HK/1810 HK/XPEV US/NIO US/9863 HK/ZK US/JD US/Macro News

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Agriculture / In Depth: Warming climate threatens Chinese farmers’ livelihoods After the Mid-Autumn Festival celebrations ended in Huma, a county at the northern reaches of Northeast China’s Heilongjiang province, farmer Xu Xiujian began harvesting his soybean crop.</li><li>He had planted earlier than usual this year, in line with the spring rains, which had come early in mid-April.</li><li>Xu’s case, while seemingly unremarkable on its own, reflects a much larger shift happening in China’s climate and the impact it is having on the country’s agricultural industry.</li></ul>

Agriculture / In Depth: Warming climate threatens Chinese farmers’ livelihoods After the Mid-Autumn Festival celebrations ended in Huma, a county at the northern reaches of Northeast China’s Heilongjiang province, farmer Xu Xiujian began harvesting his soybean crop.He had planted earlier than usual this year, in line with the spring rains, which had come early in mid-April.Xu’s case, while seemingly unremarkable on its own, reflects a much larger shift happening in China’s climate and the impact it is having on the country’s agricultural industry.

CX Daily: Warming Climate Threatens Chinese Farmers’ Livelihoods 

APAC IPOs & Placements, Aequitas Research

Nicholas Tan

APAC 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

Pateo Connect Technology / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pateo-connect-technology" target="_blank" data-smartkarma-citation="entities:43712:1" rel="noopener">Pateo Connect Technology (PTC HK)</a>  is looking to raise up to US$300m in its upcoming Hong Kong IPO.</li>
<li>It is one of the largest domestic providers of smart cockpit and intelligent connectivity solutions in China, providing full-stack smart cockpit solution and cloud-based vehicle connectivity, for Chinese OEMs.</li>
<li>In this note, we look at the firm's past performance.</li>
</ul>



Pateo Connect Technology (PTC HK)  is looking to raise up to US$300m in its upcoming Hong Kong IPO.
It is one of the largest domestic providers of smart cockpit and intelligent connectivity solutions in China, providing full-stack smart cockpit solution and cloud-based vehicle connectivity, for Chinese OEMs.
In this note, we look at the firm's past performance.


Pateo Connect Pre-IPO: Undifferentiated and Unprofitable

<ul>
<li>The election of Donald Trump with overwhelming majority changes the investment logic of our sectors and perhaps others. But besides acknowledging, what is actionable is the broad impact expected globally; </li>
<li>Thus the questions of whether Trump's policies will be successful, become important: how flexible they are, what are the signposts and who stand to benefit and be hurt;</li>
<li>Our standing assumption is that both MAGA and non-MAGA will claim victory.  We are assuming quality executions from the Trump team but the odds of achieving is still daunting.</li>
</ul>


The election of Donald Trump with overwhelming majority changes the investment logic of our sectors and perhaps others. But besides acknowledging, what is actionable is the broad impact expected globally; 
Thus the questions of whether Trump's policies will be successful, become important: how flexible they are, what are the signposts and who stand to benefit and be hurt;
Our standing assumption is that both MAGA and non-MAGA will claim victory.  We are assuming quality executions from the Trump team but the odds of achieving is still daunting.


China

BYD Company Limited manufactures automotive products. The Company produces ordinary passenger cars, commercial vehicles, and other products. BYD also operates battery making, rail transportation construction, and other businesses.

Price Gauge
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BYD (002594 CH)

Astra Otoparts (AUTO IJ) - EVs, Modern Retail, and Medical Equipment

Astra Otoparts (AUTO IJ) poised for growth with modern retail push, expansion into EV components and medical devices. Valuations attractive on...

Angus Mackintosh

[Blue Lotus Daily]:LI US/1211 HK/1810 HK/XPEV US/NIO US/9863 HK/ZK US/JD US/Macro News

New energy vehicle companies like LI and BYD face challenges, with BYD requesting suppliers to cut prices by 10% by 2025 ,Jiangsu Province...

Blue Lotus Research Institute

CX Daily: Warming Climate Threatens Chinese Farmers’ Livelihoods

Agriculture / In Depth: Warming climate threatens Chinese farmers’ livelihoods After the Mid-Autumn Festival celebrations ended in Huma, a county...

Caixin Global

Pateo Connect Pre-IPO: Undifferentiated and Unprofitable

Pateo Connect (PTC) is looking to raise up to US$300m in its upcoming Hong Kong IPO. It is one of the largest domestic providers of smart cockpit...

Nicholas Tan

Smart Trump, or Dumb Trump?

Election of Trump shifts investment logic but we differ on how. First realization is it is a zero sum game and assessing MAGA's chance of success...

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Astra Otoparts (AUTO IJ) - EVs, Modern Retail, and Medical Equipment

​Astra Otoparts (AUTO IJ) poised for growth with modern retail push, expansion into EV components and medical devices. Valuations attractive on...

Angus Mackintosh

[Blue Lotus Daily]:LI US/1211 HK/1810 HK/XPEV US/NIO US/9863 HK/ZK US/JD US/Macro News

​New energy vehicle companies like LI and BYD face challenges, with BYD requesting suppliers to cut prices by 10% by 2025 ,Jiangsu Province...

Blue Lotus Research Institute

CX Daily: Warming Climate Threatens Chinese Farmers’ Livelihoods

Agriculture / In Depth: Warming climate threatens Chinese farmers’ livelihoods After the Mid-Autumn Festival celebrations ended in Huma, a county...

Caixin Global

Pateo Connect Pre-IPO: Undifferentiated and Unprofitable

Pateo Connect (PTC) is looking to raise up to US$300m in its upcoming Hong Kong IPO. It is one of the largest domestic providers of smart cockpit...

Nicholas Tan

Smart Trump, or Dumb Trump?

​Election of Trump shifts investment logic but we differ on how. First realization is it is a zero sum game and assessing MAGA's chance of success...

Blue Lotus Research Institute

Astra Otoparts (AUTO IJ) poised for growth with modern retail push, expansion into EV components and medical devices. Valuations attractive on...

New energy vehicle companies like LI and BYD face challenges, with BYD requesting suppliers to cut prices by 10% by 2025 ,Jiangsu Province...

Election of Trump shifts investment logic but we differ on how. First realization is it is a zero sum game and assessing MAGA's chance of success...