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 analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 8th.</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 Tencent, Xiaomi, Alibaba, HKEx, CCB, SMIC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 8th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent, Xiaomi, Alibaba, HKEx, CCB, SMIC.


Hong Kong Connect Flows (Nov 8th): Tencent, Xiaomi, Alibaba, HKEx, CCB, SMIC

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 3rd.</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 Tencent Holdings, Bank Of China, Xiaomi.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 3rd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent Holdings, Bank Of China, Xiaomi.


Hong Kong Connect Flows (Apr 3rd): Tencent, Bank Of China, Xiaomi

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 28th.</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 Tencent, Bank Of China, China Mobile, Xiaomi, CNOOC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 28th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent, Bank Of China, China Mobile, Xiaomi, CNOOC.


Hong Kong Connect Flows (Mar 28th): Tencent, Bank Of China, China Mobile, Xiaomi, CNOOC

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of May 19th.</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 Tencent, China Construction Bank, China Mobile, Li Auto.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of May 19th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent, China Construction Bank, China Mobile, Li Auto.


Hong Kong Connect Flows (May 19th): Tencent, China Construction Bank, China Mobile, Li Auto

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Equity Bottom-Up

<ul>
<li>Commodities trader <strong><a href="https://www.smartkarma.com/entities/theme-international-holdings-limited" target="_blank" data-smartkarma-citation="entities:6413:1" rel="noopener">Theme International Holdings (990 HK)</a></strong> is up 670% since the inset of Covid, and that is after declining 52% from the July 2021 peak.</li>
<li>A sharp increase in iron ore prices since 2020 resulted in FY21 net income of HK$1bn against HK$146mn in FY19. Net cash is currently HK$4.2bn, 38% of Theme's market cap. </li>
<li>You Zhenhua is Theme's largest shareholder. Theme recently acquired a 6.6% stake in You Zhenhua-controlled Esteel, which in turn holds a 61% stake in <strong><a href="https://www.smartkarma.com/entities/brc-asia-ltd" target="_blank" data-smartkarma-citation="entities:11410:1" rel="noopener">BRC Asia Ltd (BRC SP)</a></strong>. </li>
</ul>


Commodities trader Theme International Holdings (990 HK) is up 670% since the inset of Covid, and that is after declining 52% from the July 2021 peak.
A sharp increase in iron ore prices since 2020 resulted in FY21 net income of HK$1bn against HK$146mn in FY19. Net cash is currently HK$4.2bn, 38% of Theme's market cap. 
You Zhenhua is Theme's largest shareholder. Theme recently acquired a 6.6% stake in You Zhenhua-controlled Esteel, which in turn holds a 61% stake in BRC Asia Ltd (BRC SP). 


Theme International Holdings (990 HK): Getting To Know You

Hong Kong

Deep Source is an investment holding company primarily engaged in the distribution, trading, and processing of bulk commodities like silver, gold, iron ores, and steel products across mainland China, Hong Kong, and Singapore. It also provides financial services, including securities and derivatives trading, margin financing, and fund management. The company was incorporated in 1993 and is headquartered in Sheung Wan, Hong Kong.

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

Deep Source (990 HK)

Hong Kong Connect Flows (Nov 8th): Tencent, Xiaomi, Alibaba, HKEx, CCB, SMIC

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Tencent, Xiaomi, Alibaba, HKEx, CCB, SMIC.

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Apr 3rd): Tencent, Bank Of China, Xiaomi

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Tencent Holdings, Bank Of China, Xiaomi.

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Mar 28th): Tencent, Bank Of China, China Mobile, Xiaomi, CNOOC

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Tencent, Bank Of China, China Mobile, Xiaomi, CNOOC.

Ke Yan, CFA, FRM

Hong Kong Connect Flows (May 19th): Tencent, China Construction Bank, China Mobile, Li Auto

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Tencent, China Construction Bank, China Mobile, Li Auto.

Ke Yan, CFA, FRM

Theme International Holdings (990 HK): Getting To Know You

For minority shareholders, it is disappointing when a company chooses to direct surplus funds towards buying a minority stake in an entity...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)