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 Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of June 9th.</li>
<li>We estimate the weekly inflows to be US$265.3 million, led by financials, consumer discretionary, industrials sectors, and offset by information technology, materials.</li>
<li>We highlight flows for Midea, China Pacific Insurance, Advanced Micro, Huatai Securities, Zhejiang Dahua Technology, Anhui Conch Cement, East Money Information, Asr Microelectronics, Wuliangye.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of June 9th.
We estimate the weekly inflows to be US$265.3 million, led by financials, consumer discretionary, industrials sectors, and offset by information technology, materials.
We highlight flows for Midea, China Pacific Insurance, Advanced Micro, Huatai Securities, Zhejiang Dahua Technology, Anhui Conch Cement, East Money Information, Asr Microelectronics, Wuliangye.


Northbound Flows (Jun 9th): Midea, China Pacific Insurance, Advanced Micro, Huatai Securities, Dahua

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of May 25th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We estimate the total short interest to decrease by 4.2% WoW and highlight short changes in CK Asset, Alibaba.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of May 25th.
Top short increases and decreases were tabulated for one week and four week period. 
We estimate the total short interest to decrease by 4.2% WoW and highlight short changes in CK Asset, Alibaba.


<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of May 12th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Longfor, Cosco Ship Holding, CCB.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of May 12th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Longfor, Cosco Ship Holding, CCB.


HK Short Interest Weekly: Longfor, Cosco Ship Holding, CCB

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of May 5th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Ganfenglithium, Picc P&amp;C, Jd, Bidu, Manulife.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of May 5th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Ganfenglithium, Picc P&amp;C, Jd, Bidu, Manulife.


HK Short Interest Weekly: Ganfeng Lithium, Picc P&C, Jd, Bidu, Manulife

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/allkem-ltd" target="_blank" data-smartkarma-citation="entities:3572:1" rel="noopener">Allkem Ltd (AKE AU)</a> and <a href="https://www.smartkarma.com/entities/livent-corp" target="_blank" data-smartkarma-citation="entities:27434:1" rel="noopener">Livent (LTHM US)</a> announced a merger of equals. AKE shareholders receive 1 NewCo share per AKE share, LTHM shareholders get 2.406 NewCo shares per LTHM share.</li>
<li>The transaction is expected to close by the end of calendar year 2023 subject to shareholder (AKM and LTHM) and regulatory approvals. </li>
<li>The merger is sensible as NewCo will have scale, synergies and capital efficiency. AKE shareholders benefit from an attractive merger ratio and potential rerating from a US listing. </li>
</ul>



Allkem Ltd (AKE AU) and Livent (LTHM US) announced a merger of equals. AKE shareholders receive 1 NewCo share per AKE share, LTHM shareholders get 2.406 NewCo shares per LTHM share.
The transaction is expected to close by the end of calendar year 2023 subject to shareholder (AKM and LTHM) and regulatory approvals. 
The merger is sensible as NewCo will have scale, synergies and capital efficiency. AKE shareholders benefit from an attractive merger ratio and potential rerating from a US listing. 


Allkem (AKE AU): Merger of Equals with Livent (LTHM US)

China

Ganfeng Lithium is a global leader in the lithium industry, specializing in the production and sales of lithium products and lithium batteries. Its business spans the entire lithium value chain, including upstream lithium resource development, midstream lithium refining and metal smelting, and downstream lithium battery manufacturing and recycling. The company's products, such as lithium salts and batteries, are widely used in electric vehicles, energy storage systems, consumer electronics, chemicals, and pharmaceuticals. Ganfeng Lithium was founded in 2000 and is headquartered in Xinyu City, Jiangxi Province, China.

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Ganfeng Lithium (1772 HK)

Northbound Flows (Jun 9th): Midea, China Pacific Insurance, Advanced Micro, Huatai Securities, Dahua

We analyzed the Shanghai/Shenzhen Connect Scheme for last week and highlight flows for Midea, China Pacific Insurance, Advanced Micro, Huatai...

Ke Yan, CFA, FRM

HK Short Interest Weekly: CK Asset, Baba

We analyzed the latest HK SFC report for aggregate short position as of May 25th and highlight short interest changes in Ck Asset, Baba.

Ke Yan, CFA, FRM

HK Short Interest Weekly: Longfor, Cosco Ship Holding, CCB

We analyzed the latest HK SFC report for aggregate short position as of May 12th and highlight short interest changes in Longfor, Cosco Ship...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Ganfeng Lithium, Picc P&C, Jd, Bidu, Manulife

We analyzed the latest HK SFC report for aggregate short position as of May 5th and highlight short interest changes in Ganfenglithium, Picc P&C,...

Ke Yan, CFA, FRM

Allkem (AKE AU): Merger of Equals with Livent (LTHM US)

The merger is sensible as NewCo will have scale, synergies and capital efficiency. AKE shareholders benefit from an attractive merger ratio and...

Arun George

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