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 Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outlfows, and holding by mainland investors.</li>
<li>Inflows last month amounted to USD 5.7bn which marks sixth months of inflows. Top three stocks southbound investors bought were Meituan, CNOOC, and Tencent.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outlfows, and holding by mainland investors.
Inflows last month amounted to USD 5.7bn which marks sixth months of inflows. Top three stocks southbound investors bought were Meituan, CNOOC, and Tencent.


Hong Kong Connect Flows Monthly (May): Meituan, CNOOC, Tencent

<ul>
<li>We analyse the changes of A/H premium on 140 stocks over the last week.</li>
<li>A-H premium increased by 1.8ppt last week, mainly led by health care, utilities, consumer discretionary sector.</li>
<li>We highlight A-H premium changes in Cansino, Great Wall Motor, Shandong Xinhua, Xinhua Winshare, First Tractor, Joinn Lab.</li>
</ul>


We analyse the changes of A/H premium on 140 stocks over the last week.
A-H premium increased by 1.8ppt last week, mainly led by health care, utilities, consumer discretionary sector.
We highlight A-H premium changes in Cansino, Great Wall Motor, Shandong Xinhua, Xinhua Winshare, First Tractor, Joinn Lab.


A-H Premium Weekly: Cansino, Great Wall Motor, Shandong Xinhua

HK/China Equity Long-Short

Osbert Tang, CFA

Thematic (Sector/Industry)

<ul>
<li>The Government Work Report as revealed in the NPC has put increased emphasis on the agricultural sector and heightened the need to support the industry in the 2022 Work Plan.</li>
<li>
<a href="https://www.smartkarma.com/entities/first-tractor-co-ltd" target="_blank" data-smartkarma-citation="entities:24643:1" rel="noopener">First Tractor (601038 CH)</a> is a potential beneficiary as the government strives to increase the farmland area, improve well-being of farmers and upgrade agricultural machinery and equipment. </li>
<li>Russia-Ukraine war has caused a surge in fertiliser prices, and <a href="https://www.smartkarma.com/entities/china-bluechemical-ltd-h" target="_blank" data-smartkarma-citation="entities:894:1" rel="noopener">China Bluechemical H (3983 HK)</a>, <a href="https://www.smartkarma.com/entities/sinofert-holdings-ltd" target="_blank" data-smartkarma-citation="entities:893:1" rel="noopener">Sinofert (297 HK)</a> and <a href="https://www.smartkarma.com/entities/china-xlx-fertiliser-ltd" target="_blank" data-smartkarma-citation="entities:5679:1" rel="noopener">China Xlx Fertiliser (1866 HK)</a> may benefit in the near term. </li>
</ul>


The Government Work Report as revealed in the NPC has put increased emphasis on the agricultural sector and heightened the need to support the industry in the 2022 Work Plan.

First Tractor (601038 CH) is a potential beneficiary as the government strives to increase the farmland area, improve well-being of farmers and upgrade agricultural machinery and equipment. 
Russia-Ukraine war has caused a surge in fertiliser prices, and China Bluechemical H (3983 HK), Sinofert (297 HK) and China Xlx Fertiliser (1866 HK) may benefit in the near term. 


China Agricultural Sector: Implications of NPC and Russia-Ukraine War

<ul>
<li>We analyse the changes of A/H premium on 136 stocks over the last week. </li>
<li>Increases of A/H premium was mainly due to the consumer staple,  energy and consumer discretionary sector.</li>
<li>We highlight stocks including: Xinjiang Goldwind, GWM, Yankuang, China Oilfield, First Tractor, CCCC, Huaneng.</li>
</ul>


We analyse the changes of A/H premium on 136 stocks over the last week. 
Increases of A/H premium was mainly due to the consumer staple,  energy and consumer discretionary sector.
We highlight stocks including: Xinjiang Goldwind, GWM, Yankuang, China Oilfield, First Tractor, CCCC, Huaneng.


A/H Premium Weekly: Xinjiang Goldwind, Great Wall Motor, First Tractor

<ul>
<li>We analyse the changes of A/H premium on 136 stocks over the last week.</li>
<li>Utilities, Real Estate and Energy sectors ranked top 3 with A/H premium increases last week. </li>
<li>First Tractor, Huaneng Energy and Yankuang Energy ranked top 3 on A/H premium increases last week. </li>
</ul>


We analyse the changes of A/H premium on 136 stocks over the last week.
Utilities, Real Estate and Energy sectors ranked top 3 with A/H premium increases last week. 
First Tractor, Huaneng Energy and Yankuang Energy ranked top 3 on A/H premium increases last week. 


A/H Premium Weekly: Utilities, Real Estate, Energy Lifted Premium

China

First Tractor Company Limited manufactures and sells agricultural tractors, road rollers, and other construction machines.  The Company also manufactures and sells harvesting machines and biochemical products as well as provides financial services.

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First Tractor Co H (38 HK)

Hong Kong Connect Flows Monthly (May): Meituan, CNOOC, Tencent

Inflows last month amounted to USD 5.7bn which marks sixth months of inflows. Top three stocks southbound investors bought were Meituan, CNOOC, and...

Ke Yan, CFA, FRM

A-H Premium Weekly: Cansino, Great Wall Motor, Shandong Xinhua

We highlight weekly A-H premium changes of Cansino, Great Wall Motor, Shandong Xinhua, Xinhua Winshare, First Tractor, Joinn Lab.

Ke Yan, CFA, FRM

China Agricultural Sector: Implications of NPC and Russia-Ukraine War

NPC reveals support for better well-being of farmers and upgrade of agricultural equipment, while the Russia-Ukraine war have escalated prices of...

Osbert Tang, CFA

A/H Premium Weekly: Xinjiang Goldwind, Great Wall Motor, First Tractor

We highlight changes in A/H premium for stocks: Xinjiang Goldwind, Great Wall Motor, Yankuang, China Oilfield, First Tractor, CCCC, Huaneng.

Ke Yan, CFA, FRM

A/H Premium Weekly: Utilities, Real Estate, Energy Lifted Premium

We highlight three sectors that lifted A/H premium last week utilities, real estate and energy. We also highlight three stocks with A/H premium...

Ke Yan, CFA, FRM

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