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 analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>Financials, Materials, Health Care led the inflows while Consumer Discretionary, Communication Services led the outflows (first chart below).</li>
<li>We highlight inflows into CATL, CMB, BOE, Haier Smart Home, and outflows from China Tourism, Moutai, Nari Technology, Focus Media and Seres</li>
</ul>


We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.
Financials, Materials, Health Care led the inflows while Consumer Discretionary, Communication Services led the outflows (first chart below).
We highlight inflows into CATL, CMB, BOE, Haier Smart Home, and outflows from China Tourism, Moutai, Nari Technology, Focus Media and Seres


Northbound Flows (April): CATL, CMB, BOE, Haier Smart Home, China Tourism, Moutai, Nari Technology

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of April 12th.</li>
<li>We estimate the weekly outflows to be US$1,587.8 million, led by consumer staples, consumer discretionary, health care, and offset by materials.</li>
<li>We highlight flows for Boe Technology, Moutai, China Tourism, Gree Electric Appliances.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of April 12th.
We estimate the weekly outflows to be US$1,587.8 million, led by consumer staples, consumer discretionary, health care, and offset by materials.
We highlight flows for Boe Technology, Moutai, China Tourism, Gree Electric Appliances.


Northbound Flows (Apr 12th): Boe Technology, Moutai, China Tourism, Gree Electric Appliances

<ul>
<li>We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>Industrials, Consumer Staples, Financials led the inflows while Health Care led the outflows.</li>
<li>We highlight flows for CATL, Wuliangye, Midea, Zijin Mining, Will Semi, Wuxi Apptec, Foxconn, Mindray.</li>
</ul>


We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.
Industrials, Consumer Staples, Financials led the inflows while Health Care led the outflows.
We highlight flows for CATL, Wuliangye, Midea, Zijin Mining, Will Semi, Wuxi Apptec, Foxconn, Mindray.


Northbound Flows (Mar): $3.7bn of Inflows

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of March 28th.</li>
<li>We estimate the weekly inflows to be US$835.0 million, led by financials, consumer staples, information technology sectors, and offset by health care, communication services, materials.</li>
<li>We highlight flows for stocks including Wuliangye, China Merchants Bank.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of March 28th.
We estimate the weekly inflows to be US$835.0 million, led by financials, consumer staples, information technology sectors, and offset by health care, communication services, materials.
We highlight flows for stocks including Wuliangye, China Merchants Bank.


Northbound Flows (Mar 28th): Wuliangye, CMB

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.</li>
<li>Last week saw NORTHBOUND net SELL RMB 3.1bn of A-shares on slightly slower average activity after net buying RMB +63bn the previous five trading weeks. </li>
<li>Lower activity into the end of the Two Sessions Week. First net selling by NORTHBOUND in many weeks. </li>
</ul>


The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.
Last week saw NORTHBOUND net SELL RMB 3.1bn of A-shares on slightly slower average activity after net buying RMB +63bn the previous five trading weeks. 
Lower activity into the end of the Two Sessions Week. First net selling by NORTHBOUND in many weeks. 


Mainland Connect NORTHBOUND Flows (To 8 Mar 2024): Utilities and Semis a Buy

China

China Yangtze Power Company Ltd. owns the Gezhouba Power Station and the Three Gorges Power Station. The Company generates hydroelectric power, which is supplied to central China, east China, Guangdong province, Chongqing city, and other areas.

China Yangtze Power Co, Ltd. (600900 CH)

Northbound Flows (April): CATL, CMB, BOE, Haier Smart Home, China Tourism, Moutai, Nari Technology

We analyzed the Shanghai/Shenzhen Connect Scheme for April and highlight flows for CATL, CMB, BOE, Haier Smart Home, and outflows from China...

Ke Yan, CFA, FRM

Northbound Flows (Apr 12th): Boe Technology, Moutai, China Tourism, Gree Electric Appliances

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Boe Technology, Moutai, China Tourism, Gree...

Ke Yan, CFA, FRM

Northbound Flows (Mar): $3.7bn of Inflows

We analyzed the Shanghai/Shenzhen Connect Scheme for March and highlight flows for CATL, Wuliangye, Midea, Zijin Mining, Will Semi, Wuxi Apptec,...

Ke Yan, CFA, FRM

Northbound Flows (Mar 28th): Wuliangye, CMB

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Wuliangye, China Merchants Bank.

Ke Yan, CFA, FRM

Mainland Connect NORTHBOUND Flows (To 8 Mar 2024): Utilities and Semis a Buy

NORTHBOUND Mainland Connect flows were small to the sell side this past week. Shenzhen accounts selling, SH buying. The net selling was about 5% of...

Travis Lundy