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 analyse the changes of A-H premium on 156 stocks over the last week. The average A-H premium was 69.4% as of Jul 4th.</li>
<li>The average A-H premium changed by -0.5ppt week-on-week, led by consumer staples, real estate, consumer discretionary and offset by utilities, financials.</li>
<li>We highlight weekly changes in A-H premium for ICBC, Angang Steel, Datang Intl Power Gen, CMB, China Zheshang Bank, China Everbright Bank.</li>
</ul>


We analyse the changes of A-H premium on 156 stocks over the last week. The average A-H premium was 69.4% as of Jul 4th.
The average A-H premium changed by -0.5ppt week-on-week, led by consumer staples, real estate, consumer discretionary and offset by utilities, financials.
We highlight weekly changes in A-H premium for ICBC, Angang Steel, Datang Intl Power Gen, CMB, China Zheshang Bank, China Everbright Bank.


A-H Premium Weekly (Jul 4th): ICBC, Angang Steel, Datang Intl Power Gen, CMB, China Zheshang Bank

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 4th.</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 flows for CCB, Innovent Biologics, SMIC, CMB, Giant Biogene, Xiaomi, Tencent, Alibaba, BOC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 4th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for CCB, Innovent Biologics, SMIC, CMB, Giant Biogene, Xiaomi, Tencent, Alibaba, BOC.


HK Connect Flows Weekly (Jul 4th): CCB, Innovent Biologics, SMIC, CMB, Giant Biogene, Xiaomi

<ul>
<li>We analysed the earning revision of component stocks of HSCEI in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Ntes, Meituan, Bidu, CCB, ICBC, Beigene, Shenzhou Intl, Zijin Mining.</li>
</ul>


We analysed the earning revision of component stocks of HSCEI in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Ntes, Meituan, Bidu, CCB, ICBC, Beigene, Shenzhou Intl, Zijin Mining.


HSCEI Index Earning Revision (Jun): Ntes, Meituan, Bidu, CCB, ICBC, Beigene, Shenzhou Intl

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight flows of Tencent (700 HK), Meituan (3690 HK), CCB (939 HK), Xiaomi (1810 HK), BYD (1211 HK).</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight flows of Tencent (700 HK), Meituan (3690 HK), CCB (939 HK), Xiaomi (1810 HK), BYD (1211 HK).


Hong Kong Connect Flows (June): Inflows Accelerated, Xiaomi/Tencent Profit Taking Continued

<ul>
<li>We analysed the earning revision of component stocks of HSI in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Ntes, HSBC, Zto Express, Midea, CCB, Shenzhou Intl, Zijin Mining, Clp.</li>
</ul>


We analysed the earning revision of component stocks of HSI in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Ntes, HSBC, Zto Express, Midea, CCB, Shenzhou Intl, Zijin Mining, Clp.


HSI Index Earning Revision (Jun): Ntes, HSBC, Zto Express, Midea, CCB, Shenzhou Intl, Zijin Mining

China

China Shenhua Energy Company Limited is an integrated coal-based energy company focusing on the coal and power businesses in China. The Company also owns and operates an integrated coal transportation network consisting of dedicated rail lines and port facilities.

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

China Shenhua Energy Co Ltd (601088 CH)

A-H Premium Weekly (Jul 4th): ICBC, Angang Steel, Datang Intl Power Gen, CMB, China Zheshang Bank

We analyzed A-H premium changes in the past week and highlight A-H premium changes for ICBC, Angang Steel, Datang Intl Power Gen, CMB, China...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Jul 4th): CCB, Innovent Biologics, SMIC, CMB, Giant Biogene, Xiaomi

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for CCB, Innovent Biologics, SMIC, CMB, Giant Biogene,...

Ke Yan, CFA, FRM

HSCEI Index Earning Revision (Jun): Ntes, Meituan, Bidu, CCB, ICBC, Beigene, Shenzhou Intl

We analyzed HSCEI's consensus for Jun 2025 and highlighted changes of EPS in Ntes, Meituan, Bidu, CCB, ICBC, Beigene, Shenzhou Intl, Zijin Mining.

Ke Yan, CFA, FRM

Hong Kong Connect Flows (June): Inflows Accelerated, Xiaomi/Tencent Profit Taking Continued

We analyzed the Hong Kong Connect Scheme for June and highlighted flows for Tencent (700 HK), Meituan (3690 HK), CCB (939 HK), Xiaomi (1810 HK),...

Ke Yan, CFA, FRM

HSI Index Earning Revision (Jun): Ntes, HSBC, Zto Express, Midea, CCB, Shenzhou Intl, Zijin Mining

We analyzed HSI's consensus for Jun 2025 and highlighted changes of EPS in Ntes, HSBC, Zto Express, Midea, CCB, Shenzhou Intl, Zijin Mining, Clp.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)