Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Listed Real Estate Asia

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Thematic (Sector/Industry)

<ul>
<li>Next week is going to be huge due to US election taking place on November 5 and China’s NPC standing committee meeting from Nov 4- Nov 8</li>
<li>This will have huge implications on the global financial markets access all asset classes</li>
<li>We think Hong Kong and China property will benefit from these events and the risk reward profile is attractive</li>
</ul>


Next week is going to be huge due to US election taking place on November 5 and China’s NPC standing committee meeting from Nov 4- Nov 8
This will have huge implications on the global financial markets access all asset classes
We think Hong Kong and China property will benefit from these events and the risk reward profile is attractive


Short Note: Position for Trump Trade and China Stimulus – Buckle up for Next Week

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>Following a series of easing policy combinations from the government, various cities have continued to implement easing measures.</li><li>We think regulators have showed its willingness to actively manage market expectations, so the speculation around more easing policies will continue, especially against the backdrop of important upcoming meetings like the Standing committee of the NPC and the Central Economic Work Conference.</li><li>We reiterate our view that the sector will exhibit an upward trend in 4Q24 (with some volatility), and suggest investors to buy the dip. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Following a series of easing policy combinations from the government, various cities have continued to implement easing measures.We think regulators have showed its willingness to actively manage market expectations, so the speculation around more easing policies will continue, especially against the backdrop of important upcoming meetings like the Standing committee of the NPC and the Central Economic Work Conference.We reiterate our view that the sector will exhibit an upward trend in 4Q24 (with some volatility), and suggest investors to buy the dip. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Property - Policy Speculation + Favourable Data Release = Stock Uptrend with Volatility

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

Horizon Robotics / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/horizon-robotics-inc" target="_blank" data-smartkarma-citation="entities:35637:1" rel="noopener">Horizon Robotics (9660 HK)</a> raised around US$800m, including over-allocation, in its Hong Kong IPO. </li>
<li>Horizon Robotics (HR) is a provider of advanced driver assistance systems (ADAS) and autonomous driving (AD) solutions for passenger vehicles, empowered by its proprietary software and hardware technologies.</li>
<li>We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading updates.</li>
</ul>



Horizon Robotics (9660 HK) raised around US$800m, including over-allocation, in its Hong Kong IPO. 
Horizon Robotics (HR) is a provider of advanced driver assistance systems (ADAS) and autonomous driving (AD) solutions for passenger vehicles, empowered by its proprietary software and hardware technologies.
We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading updates.


Horizon Robotics IPO Trading - More than 55% of the Deal Taken up by Existing Shareholders

China Resources Beverage / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/china-resources-beverage" target="_blank" data-smartkarma-citation="entities:41984:1" rel="noopener">China Resources Beverage (2460 HK)</a> raised around US$750m in its Hong Kong IPO, after pricing at the top-end.</li>
<li>China Resources Beverage manufactures and sells packaged drinking water and RTD soft beverages in China.</li>
<li>We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.</li>
</ul>



China Resources Beverage (2460 HK) raised around US$750m in its Hong Kong IPO, after pricing at the top-end.
China Resources Beverage manufactures and sells packaged drinking water and RTD soft beverages in China.
We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.


China Resources Beverage IPO Trading - Still a Bit of Fizz Left

Blue Lotus Research Institute

Andy Fu

China growth and global non-US Internet equities

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

<ul>
<li>Minister of MOHURD (Ministry of Housing and Urban Development) said on October 16th that MOHURD planned to renovate 1mn more shanty houses via 100% cash exchange by year end;</li>
<li>We estimate this would inject Rmb0.5-1tn to the hands of shanty town residents. If all these money are putt into the property market, it can drive up transaction by 3-7%;</li>
<li>However, property transaction showed existing home sales growth slowed in September and new home sales remained in negative. The real estate market is in dire need of further stimulus.</li>
</ul>


Minister of MOHURD (Ministry of Housing and Urban Development) said on October 16th that MOHURD planned to renovate 1mn more shanty houses via 100% cash exchange by year end;
We estimate this would inject Rmb0.5-1tn to the hands of shanty town residents. If all these money are putt into the property market, it can drive up transaction by 3-7%;
However, property transaction showed existing home sales growth slowed in September and new home sales remained in negative. The real estate market is in dire need of further stimulus.


Hong Kong

China Resources Land Limited, through its subsidiaries, develops and invests in properties.  The Company also provides corporate financing and electrical engineering services.

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China Resources Land (1109 HK)

Short Note: Position for Trump Trade and China Stimulus – Buckle up for Next Week

Next week is going to be huge with US Presidential election and China's NPC standing committee meeting taking place, both of which will have...

Jacob Cheng

Property - Policy Speculation + Favourable Data Release = Stock Uptrend with Volatility

Following a series of easing policy combinations from the government, various cities have continued to implement easing measures.

CMB International

Horizon Robotics IPO Trading - More than 55% of the Deal Taken up by Existing Shareholders

Horizon Robotics (9660 HK) raised around US$800m, including over-allocation, in its Hong Kong IPO. In this note, we talk about the trading dynamics.

Sumeet Singh

China Resources Beverage IPO Trading - Still a Bit of Fizz Left

China Resources Beverage (2460 HK) raised around US$750m in its Hong Kong IPO, after pricing at the top-end. In this note, we talk about the...

Sumeet Singh

Here Is a Trillion Rmb Stimulus

MOHURD planned urban village renovations with monetized resettlement valued at RMB500bn-RMB1tn, could drive up property transaction value by 3%...

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Short Note: Position for Trump Trade and China Stimulus – Buckle up for Next Week

Next week is going to be huge with US Presidential election and China's NPC standing committee meeting taking place, both of which will have...

Jacob Cheng

Property - Policy Speculation + Favourable Data Release = Stock Uptrend with Volatility

Following a series of easing policy combinations from the government, various cities have continued to implement easing measures.

CMB International

Horizon Robotics IPO Trading - More than 55% of the Deal Taken up by Existing Shareholders

Horizon Robotics (9660 HK) raised around US$800m, including over-allocation, in its Hong Kong IPO. In this note, we talk about the trading dynamics.

Sumeet Singh

China Resources Beverage IPO Trading - Still a Bit of Fizz Left

China Resources Beverage (2460 HK) raised around US$750m in its Hong Kong IPO, after pricing at the top-end. In this note, we talk about the...

Sumeet Singh

Here Is a Trillion Rmb Stimulus

​MOHURD planned urban village renovations with monetized resettlement valued at RMB500bn-RMB1tn, could drive up property transaction value by 3%...

Blue Lotus Research Institute

MOHURD planned urban village renovations with monetized resettlement valued at RMB500bn-RMB1tn, could drive up property transaction value by 3%...