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 August 16th.</li>
<li>We estimate the weekly outflows to be US$600.9 million, led by materials, industrials, consumer discretionary, and offset by financials, communication services, health care.</li>
<li>Outflows were driven by Material, Industries and Consumer Discretionary sectors. We highlight flows for CATL (300750 CH).</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of August 16th.
We estimate the weekly outflows to be US$600.9 million, led by materials, industrials, consumer discretionary, and offset by financials, communication services, health care.
Outflows were driven by Material, Industries and Consumer Discretionary sectors. We highlight flows for CATL (300750 CH).


Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li><em>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.</em></li>
<li>Last week saw NORTHBOUND net SELL RMB 5.0bn of A-shares. NORTHBOUND volumes were very, very low overall.</li>
<li>HK large caps again outperformed Mainland large caps generally. Tech (HSTECH vs Star50 and ChiNext) saw even better HK outperformance.</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 5.0bn of A-shares. NORTHBOUND volumes were very, very low overall.
HK large caps again outperformed Mainland large caps generally. Tech (HSTECH vs Star50 and ChiNext) saw even better HK outperformance.


Mainland Connect NORTHBOUND Flows (To 16 Aug 2024): Banks Bought, Industry & Materials Sold

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of August 9th.</li>
<li>We estimate the weekly outflows to be US$2,018.4 million, led by information technology, consumer discretionary, financials, and offset by health care, consumer staples, utilities.</li>
<li>We highlight flows for Suzhou Dongshan Precision Manufacturing, Midea, CATL, Zhongji Innolight.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of August 9th.
We estimate the weekly outflows to be US$2,018.4 million, led by information technology, consumer discretionary, financials, and offset by health care, consumer staples, utilities.
We highlight flows for Suzhou Dongshan Precision Manufacturing, Midea, CATL, Zhongji Innolight.


Northbound Flows (Aug 9th): Suzhou Dongshan Precision Manufacturing, Midea, CATL, Zhongji Innolight

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>The changes to the CSI All Share Investment Banking &amp; Brokerage Index were announced after market close on 31 May and will be implemented at the close on 14 June.</li>
<li>
<a href="https://www.smartkarma.com/entities/guosen-securities-co-ltd" target="_blank" data-smartkarma-citation="entities:27486:1" rel="noopener">Guosen Securities (002736 CH)</a> will be added to the index while <a href="https://www.smartkarma.com/entities/northeast-securities-co-ltd" target="_blank" data-smartkarma-citation="entities:6022:1" rel="noopener">Northeast Securities (000686 CH)</a> will be deleted from the index.</li>
<li>There is a lot of flow and impact for both stocks and the stocks could outperform/underperform their peers over the next couple of weeks.</li>
</ul>


The changes to the CSI All Share Investment Banking &amp; Brokerage Index were announced after market close on 31 May and will be implemented at the close on 14 June.

Guosen Securities (002736 CH) will be added to the index while Northeast Securities (000686 CH) will be deleted from the index.
There is a lot of flow and impact for both stocks and the stocks could outperform/underperform their peers over the next couple of weeks.


CSI All Share IB & Brokerage Index Rebalance: Couple of Large Flow & Impact Names

<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

China

East Money Information Co., Ltd. operates online financial information platform.  The Company's products include internet advertising and financial data.

Price Gauge
52-week Range	0.00 - 0.00
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East Money Information (300059 CH)

Northbound Flows (Aug 16th): CATL

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlighted flows for CATL (ticker: 300750 CH).

Ke Yan, CFA, FRM

Mainland Connect NORTHBOUND Flows (To 16 Aug 2024): Banks Bought, Industry & Materials Sold

NORTHBOUND was again a net sell, but volumes were very low. Renewables and appliances were again tilted sell - not surprising as property...

Travis Lundy

Northbound Flows (Aug 9th): Suzhou Dongshan Precision Manufacturing, Midea, CATL, Zhongji Innolight

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlighted flows for Suzhou Dongshan Precision Manufacturing, Midea,...

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Northbound Flows (Aug 16th): CATL

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlighted flows for CATL (ticker: 300750 CH).

Ke Yan, CFA, FRM

Mainland Connect NORTHBOUND Flows (To 16 Aug 2024): Banks Bought, Industry & Materials Sold

NORTHBOUND was again a net sell, but volumes were very low. Renewables and appliances were again tilted sell - not surprising as property...

Travis Lundy

Northbound Flows (Aug 9th): Suzhou Dongshan Precision Manufacturing, Midea, CATL, Zhongji Innolight

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlighted flows for Suzhou Dongshan Precision Manufacturing, Midea,...

Ke Yan, CFA, FRM

CSI All Share IB & Brokerage Index Rebalance: Couple of Large Flow & Impact Names

Guosen Securities will be added to the index while Northeast Securities will be deleted. There is decent flow on both stocks and 4x ADV to trade...

Brian Freitas

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