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 weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of October 19th.</li>
<li>We estimate the weekly outflows to be US$3,259.2 million, led by materials, industrials, and offset by consumer discretionary, utilities.</li>
<li>We highlight flows for BYD, Chongqing Changan Automobile, Zhongji Innolight, Moutai, Wuliangye, Ping An Insurance, CATL, Haitian Flavouring, Longi Green, CMB.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of October 19th.
We estimate the weekly outflows to be US$3,259.2 million, led by materials, industrials, and offset by consumer discretionary, utilities.
We highlight flows for BYD, Chongqing Changan Automobile, Zhongji Innolight, Moutai, Wuliangye, Ping An Insurance, CATL, Haitian Flavouring, Longi Green, CMB.


Northbound Flows (Oct 19th): BYD, Changan Auto, Zhongji Innolight, Moutai, Wuliangye

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Chips /: Four things to know about tightened U.S. rules over chip exports to China</li><li>Belt and Road Initiative /: Putin says Arctic shipping route could be navigable year-round by 2024</li><li>Default /: Distressed Country Garden logs first bond default</li></ul>

Chips /: Four things to know about tightened U.S. rules over chip exports to ChinaBelt and Road Initiative /: Putin says Arctic shipping route could be navigable year-round by 2024Default /: Distressed Country Garden logs first bond default

CX Daily: Four Things to Know About Tightened U.S. Rules Over Chip Exports to China

Equity Bottom-Up

<ul><li>A new electric car powered by Huawei’s autonomous driving technology has hit the market with a bang, attracting tens of thousands of orders in less than a month and giving the telecom-equipment giant a confidence boost as it pushes further into China’s highly competitive auto market.</li><li>As of Friday, more than 50,000 orders have been placed for the upgraded version of the Aito M7 SUV since it was <a href="https://www.caixinglobal.com/2023-09-12/huawei-tech-powered-ev-brand-rolls-out-upgraded-luxury-suv-102103057.html" target="_blank" rel="noopener">launched on Sept. 12</a>, said Richard Yu, chairman of Huawei’s smart car unit, in a social media post Saturday.</li><li>For each order, customers paid a non-refundable deposit of 5,000 yuan ($695), according to information provided by Aito — a premium electric-vehicle (EV) brand co-developed by Huawei Technologies Co. Ltd. and automaker Seres Group Co. Ltd.</li></ul>

A new electric car powered by Huawei’s autonomous driving technology has hit the market with a bang, attracting tens of thousands of orders in less than a month and giving the telecom-equipment giant a confidence boost as it pushes further into China’s highly competitive auto market.As of Friday, more than 50,000 orders have been placed for the upgraded version of the Aito M7 SUV since it was launched on Sept. 12, said Richard Yu, chairman of Huawei’s smart car unit, in a social media post Saturday.For each order, customers paid a non-refundable deposit of 5,000 yuan ($695), according to information provided by Aito — a premium electric-vehicle (EV) brand co-developed by Huawei Technologies Co. Ltd. and automaker Seres Group Co. Ltd.

New Huawei Tech-Powered Electric Car Launches With a Bang

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.

Thematic (Sector/Industry)

<ul><li>China’s passenger-vehicle (PV) retail sales volume fell 0.4% YoY and 10% MoM in Jul 2023 amid high base, 2% higher than our prior forecast.</li><li>YTD retail sales volume rose 4% YoY. Wholesale volume fell 3% YoY and 7% MoM to 2.10mn units in Jul 2023, the second highest Jul in history, and 2% higher than our prior forecast.</li><li>Wholesale volume rose 7% YoY (or +0.84mn units YoY) YTD, aided by 78% YoY growth (or +0.92mn units YoY) of exports. </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>

China’s passenger-vehicle (PV) retail sales volume fell 0.4% YoY and 10% MoM in Jul 2023 amid high base, 2% higher than our prior forecast.YTD retail sales volume rose 4% YoY. Wholesale volume fell 3% YoY and 7% MoM to 2.10mn units in Jul 2023, the second highest Jul in history, and 2% higher than our prior forecast.Wholesale volume rose 7% YoY (or +0.84mn units YoY) YTD, aided by 78% YoY growth (or +0.92mn units YoY) of exports. 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.

China Auto Sector – 2H23 Auto Sales Could Beat Amid Resilient Jul, Aug

<ul><li>Autos /<a href="https://www.caixinglobal.com/2023-08-23/in-depth-chinas-auto-exports-belie-roadblocks-to-conquering-europe-us-102095963.html" target="_blank" rel="noopener">In Depth: China’s auto exports belie roadblocks to conquering Europe, U.S.</a></li><li>China-South Africa /: Xi calls for more cooperation between China and South Africa</li><li>Schroders /: Schroders China unit seeks approval for first mutual fund</li></ul>

Autos /In Depth: China’s auto exports belie roadblocks to conquering Europe, U.S.China-South Africa /: Xi calls for more cooperation between China and South AfricaSchroders /: Schroders China unit seeks approval for first mutual fund

CX Daily: China’s Auto Exports Belie Roadblocks to Conquering Europe, U.S.

China

Chongqing Changan Automobile Company Limited develops, manufactures, and markets mini cars, mini sedans, full size sedans, and engines.

Chongqing Changan Automobile C (000625 CH)

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Chongqing Changan Automobile C (000625 CH)

Northbound Flows (Oct 19th): BYD, Changan Auto, Zhongji Innolight, Moutai, Wuliangye

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for BYD, Chongqing Changan Automobile, Zhongji...

Ke Yan, CFA, FRM

CX Daily: Four Things to Know About Tightened U.S. Rules Over Chip Exports to China

Chips /: Four things to know about tightened U.S. rules over chip exports to China Belt and Road Initiative /: Putin says Arctic shipping route...

Caixin Global

New Huawei Tech-Powered Electric Car Launches With a Bang

A new electric car powered by Huawei’s autonomous driving technology has hit the market with a bang, attracting tens of thousands of orders in...

Caixin Global

China Auto Sector – 2H23 Auto Sales Could Beat Amid Resilient Jul, Aug

China’s passenger-vehicle (PV) retail sales volume fell 0.4% YoY and 10% MoM in Jul 2023 amid high base, 2% higher than our prior forecast.

CMB International

CX Daily: China’s Auto Exports Belie Roadblocks to Conquering Europe, U.S.

Autos /In Depth: China’s auto exports belie roadblocks to conquering Europe, U.S. China-South Africa /: Xi calls for more cooperation between...

Caixin Global

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