Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Cross Asset Strategy

<ul>
<li>In May, onshore Chinese investors bought US$5.85bn of HK-listed stocks, down sharply from the $19-21 bn net buying range of the past three months. The favorite stocks also changed sharply.</li>
<li>The hitherto Southbound favorites, Tencent, Alibaba and Xiaomi were sold down. Onshore investors’ current favorites seem to be the high dividend yield stocks, particularly China Mobile, CNOOC, China Construction Bank.</li>
<li>Competitive pressures crashed food delivery and EV share prices. But Southbound investors seem to see these share price drawdowns as buying opportunities. Meituan, Li Auto were bought in significant measure.</li>
</ul>


In May, onshore Chinese investors bought US$5.85bn of HK-listed stocks, down sharply from the $19-21 bn net buying range of the past three months. The favorite stocks also changed sharply.
The hitherto Southbound favorites, Tencent, Alibaba and Xiaomi were sold down. Onshore investors’ current favorites seem to be the high dividend yield stocks, particularly China Mobile, CNOOC, China Construction Bank.
Competitive pressures crashed food delivery and EV share prices. But Southbound investors seem to see these share price drawdowns as buying opportunities. Meituan, Li Auto were bought in significant measure.


Asian Equities: Southbound Flows Turning to Dividends and Beaten Down Sectors

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 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 Xiaomi, ICBC, Tencent, China Life, Meituan, Smic.</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 Xiaomi, ICBC, Tencent, China Life, Meituan, Smic.


HSI Index Earning Revision (May): Xiaomi, ICBC, Tencent, China Life, Meituan, Smic

<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 Xiaomi, ICBC, China Life, CCB, Meituan, Smic, Beigene.</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 Xiaomi, ICBC, China Life, CCB, Meituan, Smic, Beigene.


HSCEI Index Earning Revision (May): Xiaomi, ICBC, China Life, CCB, Meituan, Smic, Beigene

<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, Meituan, Xiaomi, CCB, China Mobile.</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, Meituan, Xiaomi, CCB, China Mobile.


Hong Kong Connect Flows (May): Inflows Slowed Down

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of May 23rd.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Meituan (3690 HK), Bilibili (9626 HK), Kingsoft (3888 HK).</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of May 23rd.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Meituan (3690 HK), Bilibili (9626 HK), Kingsoft (3888 HK).


HK Short Interest Weekly: Meituan, Bilibili, Kingsoft

China

CNOOC Limited, through its subsidiaries, explores, develops, produces, and sells crude oil and natural gas. The Company focuses in the areas such as Bohai, Western South China Sea, Eastern South China Sea and East China Sea in offshore China. Internationally, the Group has oil and gas assets in Asia, Africa, North America, South America, and Oceania.

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

CNOOC Ltd (883 HK)

Asian Equities: Southbound Flows Turning to Dividends and Beaten Down Sectors

In May, CN onshore investors moved from tech giants to high dividend yield stocks - CN Mobile, CNOOC & CCB. They saw buying opportunities in the...

Manishi Raychaudhuri

HSI Index Earning Revision (May): Xiaomi, ICBC, Tencent, China Life, Meituan, Smic

We analyzed HSI's consensus for May 2025 and highlighted changes of EPS in Xiaomi, ICBC, Tencent, China Life, Meituan, Smic.

Ke Yan, CFA, FRM

HSCEI Index Earning Revision (May): Xiaomi, ICBC, China Life, CCB, Meituan, Smic, Beigene

We analyzed HSCEI's consensus for May 2025 and highlighted changes of EPS in Xiaomi - W, ICBC, China Life, CCB, Meituan - W, Smic, Beigene.

Ke Yan, CFA, FRM

Hong Kong Connect Flows (May): Inflows Slowed Down

We analyzed the Hong Kong Connect Scheme for May and highlighted flows for Tencent, Meituan, Xiaomi, CCB, China Mobile. Inflows in May is slowed...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Meituan, Bilibili, Kingsoft

We analyzed the latest HK SFC report for aggregate short position as of May 23rd and highlight short interest changes in Meituan, Bilibili, Kingsoft.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Asian Equities: Southbound Flows Turning to Dividends and Beaten Down Sectors

In May, ​CN onshore investors moved from tech giants to high dividend yield stocks - CN Mobile, CNOOC & CCB. They saw buying opportunities in the...

Manishi Raychaudhuri

HSI Index Earning Revision (May): Xiaomi, ICBC, Tencent, China Life, Meituan, Smic

We analyzed HSI's consensus for May 2025 and highlighted changes of EPS in Xiaomi, ICBC, Tencent, China Life, Meituan, Smic.

Ke Yan, CFA, FRM

HSCEI Index Earning Revision (May): Xiaomi, ICBC, China Life, CCB, Meituan, Smic, Beigene

We analyzed HSCEI's consensus for May 2025 and highlighted changes of EPS in Xiaomi - W, ICBC, China Life, CCB, Meituan - W, Smic, Beigene.

Ke Yan, CFA, FRM

Hong Kong Connect Flows (May): Inflows Slowed Down

We analyzed the Hong Kong Connect Scheme for May and highlighted flows for Tencent, Meituan, Xiaomi, CCB, China Mobile. Inflows in May is slowed...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Meituan, Bilibili, Kingsoft

We analyzed the latest HK SFC report for aggregate short position as of May 23rd and highlight short interest changes in Meituan, Bilibili, Kingsoft.

Ke Yan, CFA, FRM

In May, CN onshore investors moved from tech giants to high dividend yield stocks - CN Mobile, CNOOC & CCB. They saw buying opportunities in the...