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 analyse the changes of A-H premium on 181 stocks over the last week. The average A-H premium was 69.4% as of Mar 27th.</li>
<li>The average A-H premium changed by 0.4ppt week-on-week, led by industrials, utilities, energy and offset by real estate, communication services, information technology.</li>
<li>We highlight weekly changes in A-H premium for Hans Cnc, Air China, CATL, Chongqing Rural Commercial Bank, Cgn Power, ABC.</li>
</ul>


We analyse the changes of A-H premium on 181 stocks over the last week. The average A-H premium was 69.4% as of Mar 27th.
The average A-H premium changed by 0.4ppt week-on-week, led by industrials, utilities, energy and offset by real estate, communication services, information technology.
We highlight weekly changes in A-H premium for Hans Cnc, Air China, CATL, Chongqing Rural Commercial Bank, Cgn Power, ABC.


A-H Premium Weekly (Mar 27th): Hans Cnc, Air China, CATL, Chongqing Rural Commercial Bank, Cgn Power

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 27th.</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 Alibaba, Xiaomi, Pop Mart Intl, HSBC, Tencent, Meituan, SMIC, China Life, CHALCO, Zijin Mining.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 27th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Alibaba, Xiaomi, Pop Mart Intl, HSBC, Tencent, Meituan, SMIC, China Life, CHALCO, Zijin Mining.


HK Connect Flows Weekly (Mar 27th): Alibaba, Xiaomi, Pop Mart Intl, HSBC, Tencent, Meituan, SMIC

Event-Driven

Contemporary Amperex Technology / Event-Driven

Contemporary Amperex Technology (3750 HK)

<ul>
<li>We study 27 A+H listing connect inclusion in two groups: 23 with delayed Connect inclusion (26 to 28 days after listing) and 4 with same-day inclusion.</li>
<li>The delayed group shows H underperformance versus A around inclusion (61% win rate, median +3.5% over 5D). All four same-day stocks posted positive hedged returns on day 0.</li>
<li>Actionable trades ahead: DELTON (1989 HK) pending listing on 20 March, and ESTUN (2715 HK) pending Connect inclusion.</li>
</ul>


We study 27 A+H listing connect inclusion in two groups: 23 with delayed Connect inclusion (26 to 28 days after listing) and 4 with same-day inclusion.
The delayed group shows H underperformance versus A around inclusion (61% win rate, median +3.5% over 5D). All four same-day stocks posted positive hedged returns on day 0.
Actionable trades ahead: DELTON (1989 HK) pending listing on 20 March, and ESTUN (2715 HK) pending Connect inclusion.


A+H Listing: The Connect Inclusion Stat and the Trade

<ul>
<li>We analyse the changes of A-H premium on 178 stocks over the last week. The average A-H premium was 70.2% as of Mar 13th.</li>
<li>The average A-H premium changed by 3.2ppt week-on-week, led by industrials, real estate, communication services and offset by information technology.</li>
<li>We highlight weekly changes in A-H premium for CNOOC, BYD, Great Wall Motor, Crrc, CATL, Huaneng Power International.</li>
</ul>


We analyse the changes of A-H premium on 178 stocks over the last week. The average A-H premium was 70.2% as of Mar 13th.
The average A-H premium changed by 3.2ppt week-on-week, led by industrials, real estate, communication services and offset by information technology.
We highlight weekly changes in A-H premium for CNOOC, BYD, Great Wall Motor, Crrc, CATL, Huaneng Power International.


A-H Premium Weekly (Mar 13th): CNOOC, BYD, Great Wall Motor, Crrc, CATL, Huaneng Power International

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 6th.</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 Alibaba, Tencent, China Life, Xiaomi, Petrochina, ICBC, China Pacific Insurance, Kuaishou, Hua Hong Semiconductor, BYD.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 6th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Alibaba, Tencent, China Life, Xiaomi, Petrochina, ICBC, China Pacific Insurance, Kuaishou, Hua Hong Semiconductor, BYD.


HK Connect Flows Weekly (Mar 6th): Alibaba, Tencent, China Life, Xiaomi, Petrochina, ICBC

China

China VAST Industrial Urban Development is an investment holding company primarily engaged in the planning, development, and operation of large-scale industrial towns across China. The company's core activities include land infrastructure development, property development and sales, and property leasing, alongside providing consulting and maintenance services. It was founded in 1995 and is headquartered in Hong Kong.

China VAST Industrial Urban Development (CVI HK)

Price Gauge
52-week Range	0.00 - 0.00
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China VAST Industrial Urban Development (CVI HK)

A-H Premium Weekly (Mar 27th): Hans Cnc, Air China, CATL, Chongqing Rural Commercial Bank, Cgn Power

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Hans Cnc, Air China, CATL, Chongqing Rural Commercial Bank,...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Mar 27th): Alibaba, Xiaomi, Pop Mart Intl, HSBC, Tencent, Meituan, SMIC

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, Xiaomi, Pop Mart Intl, HSBC, Tencent, Meituan,...

Ke Yan, CFA, FRM

A+H Listing: The Connect Inclusion Stat and the Trade

A+H Connect inclusion study across 27 IPOs finds H underperformance at stabilization expiry. Two trades live: DELTON (20 Mar listing) and ESTUN...

Ke Yan, CFA, FRM

A-H Premium Weekly (Mar 13th): CNOOC, BYD, Great Wall Motor, Crrc, CATL, Huaneng Power International

We analyzed A-H premium changes in the past week and highlight A-H premium changes for CNOOC, BYD, Great Wall Motor, Crrc, CATL, Huaneng Power...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Mar 6th): Alibaba, Tencent, China Life, Xiaomi, Petrochina, ICBC

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba (9988 HK), Tencent (700 HK), China Life (2628...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)