Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 14th.</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 inflows into Tencent (700 HK), and Li Auto (2015 HK). </li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 14th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight inflows into Tencent (700 HK), and Li Auto (2015 HK). 


Hong Kong Connect Flows (Oct 14th): Tencent, Li Auto

HK/China Equity Long-Short

Osbert Tang, CFA

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tao-heung" target="_blank" data-smartkarma-citation="entities:2668:1" rel="noopener">Tao Heung (573 HK)</a>, a Chinese cuisine restaurant operator, has lost significant shop-days in 1H22 due to the pandemic. However, this is behind us and 2H22 outlook is better.</li>
<li>The recovery of Hong Kong operations will be supported by further relaxation of social distancing measures while, for mainland China, business has rebounded following removal of lockdowns.   </li>
<li>Its Chairman has upped his stake, signaling a vote of confidence. The stock's valuations are not expensive, but given low turnover, there will be potential share price volatility.</li>
</ul>



Tao Heung (573 HK), a Chinese cuisine restaurant operator, has lost significant shop-days in 1H22 due to the pandemic. However, this is behind us and 2H22 outlook is better.
The recovery of Hong Kong operations will be supported by further relaxation of social distancing measures while, for mainland China, business has rebounded following removal of lockdowns.   
Its Chairman has upped his stake, signaling a vote of confidence. The stock's valuations are not expensive, but given low turnover, there will be potential share price volatility.


Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

<ul>
<li>HK F&amp;B is set to have a reprieve as dine-in services at catering businesses can now remain open from 6 pm-10 pm ( max seating up to 4 people).</li>
<li>We provide a list of 34 names that will benefit from the removal of restrictions ( some with further catalysts down the road as they are exposed to China)</li>
<li>Our favorite pick remains <a href="https://www.smartkarma.com/entities/taste-gourmet-group-ltd" target="_blank" data-smartkarma-citation="entities:27339:1" rel="noopener">Taste Gourmet Group (8371 HK)</a> which we have written about in our insight <a href="https://www.smartkarma.com/insights/taste-gourmet-multibagger-reopening-play" target="_blank" data-smartkarma-citation="insights:67297" rel="noopener">Taste Gourmet: Multibagger Reopening Play</a>.</li>
</ul>


HK F&amp;B is set to have a reprieve as dine-in services at catering businesses can now remain open from 6 pm-10 pm ( max seating up to 4 people).
We provide a list of 34 names that will benefit from the removal of restrictions ( some with further catalysts down the road as they are exposed to China)
Our favorite pick remains Taste Gourmet Group (8371 HK) which we have written about in our insight Taste Gourmet: Multibagger Reopening Play.


A Comprehensive List of Hong Kong F&B Names to Play the Reopening

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>Hong Kong's hospitality industry has endured three years of upheaval, first with the democracy protestors in 2019, which slowed inbound, followed by the onset of Covid in early 2020.</li>
<li>Beginning today, 21 April, the Government commenced the relaxation of most social distancing measures, to be eased over three phases.</li>
<li>This evolving dynamic is welcome, yet the progress and recovery for many operators may be gradual.</li>
</ul>


Hong Kong's hospitality industry has endured three years of upheaval, first with the democracy protestors in 2019, which slowed inbound, followed by the onset of Covid in early 2020.
Beginning today, 21 April, the Government commenced the relaxation of most social distancing measures, to be eased over three phases.
This evolving dynamic is welcome, yet the progress and recovery for many operators may be gradual.


Hong Kong F&B: Stock Screening As Social-Distancing Curbs Ease

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>Dominus Capital has lobbed a voluntary conditional cash offer of S$0.77 per share. The offer price represents a 15.8% premium to the unaffected price of A$0.665 (28 December).</li>
<li>The offer is conditional on the offeror and concert parties hold not less than 90% of the voting rights. Irrecovables represent 77.41% of outstanding shares.</li>
<li>56% of shareholders ex. irrecovables are required to accept the offer to meet the 90% threshold. While the offer is a modest premium to historical share prices, it is feasible. </li>
</ul>


Dominus Capital has lobbed a voluntary conditional cash offer of S$0.77 per share. The offer price represents a 15.8% premium to the unaffected price of A$0.665 (28 December).
The offer is conditional on the offeror and concert parties hold not less than 90% of the voting rights. Irrecovables represent 77.41% of outstanding shares.
56% of shareholders ex. irrecovables are required to accept the offer to meet the 90% threshold. While the offer is a modest premium to historical share prices, it is feasible. 


Koufu’s Voluntary Conditional Offer by Founding Shareholders

Hong Kong

Cafe de Coral Holdings Ltd. operates quick-service restaurants and casual dining chains, including brands like Café de Coral, Super Super Congee & Noodles, and The Spaghetti House. The company also provides institutional catering services and is involved in food processing and distribution. It was founded in 1968 and is headquartered in Fo Tan, Hong Kong.

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Cafe de Coral (341 HK)

Hong Kong Connect Flows (Oct 14th): Tencent, Li Auto

We analyzed the Hong Kong Connect Scheme for last week and highlight flows for Tencent Holding (700 HK), and Li Auto (2015 HK).

Ke Yan, CFA, FRM

Tao Heung (573 HK): Bon Appetit

Tao Heung should have a better 2H22 given recovery of Hong Kong operations as consumer spending improves. Also, mainland China market is not...

Osbert Tang, CFA

A Comprehensive List of Hong Kong F&B Names to Play the Reopening

We list 34 names that will benefit from the easing of dine-in restrictions in Hong Kong. Our favorite pick remains Taste Gourmet Group (8371 HK).

Sameer Taneja

Koufu’s Voluntary Conditional Offer by Founding Shareholders

Koufu has received a voluntary conditional cash offer of S$0.77 per share. The offer is conditional meeting the 90% voting threshold. Despite the...

Arun George

Price Gauge

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Hong Kong Connect Flows (Oct 14th): Tencent, Li Auto

We analyzed the Hong Kong Connect Scheme for last week and highlight flows for Tencent Holding (700 HK), and Li Auto (2015 HK).

Ke Yan, CFA, FRM

Tao Heung (573 HK): Bon Appetit

Tao Heung should have a better 2H22 given recovery of Hong Kong operations as consumer spending improves. Also, mainland China market is not...

Osbert Tang, CFA

A Comprehensive List of Hong Kong F&B Names to Play the Reopening

We list 34 names that will benefit from the easing of dine-in restrictions in Hong Kong. Our favorite pick remains Taste Gourmet Group (8371 HK).

Sameer Taneja

Hong Kong F&B: Stock Screening As Social-Distancing Curbs Ease

I'm inclined to pursue pure-restaurant outlet/venue companies, as oppsed to those with hotel operations, the latter of which remains highly...

David Blennerhassett

Koufu’s Voluntary Conditional Offer by Founding Shareholders

Koufu has received a voluntary conditional cash offer of S$0.77 per share. The offer is conditional meeting the 90% voting threshold. Despite the...

Arun George