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

Shenton Research

Shenton 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 August 7th.</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 Alibaba, Tencent, Xiaomi, Meituan, Knowledge Atlas, CCB, Hua Hong Semi, ICBC, China Mobile, PICC P&amp;C.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 7th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Alibaba, Tencent, Xiaomi, Meituan, Knowledge Atlas, CCB, Hua Hong Semi, ICBC, China Mobile, PICC P&amp;C.


HK Connect Flows Weekly (Aug 7th): Alibaba, Tencent, Xiaomi, Meituan, Knowledge Atlas, CCB, ICBC

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

Wuxi Lead Intelligent Equipmen / Equity Capital Markets

Wuxi Lead Intelligent Equipmen (300450 CH)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wuxi-lead-intelligent-equipment-co-ltd-class-h" target="_blank" data-smartkarma-citation="entities:48989:1" rel="noopener">Wuxi Lead Intelligent Equipment (470 HK)</a>, raised around US$725m in its H-share listing. Its cornerstone investors will soon be released from their lockup.</li>
<li>WLIE is a global platform-based intelligent equipment enterprise, offering intelligent equipment and solutions to a wide range of emerging and high-end manufacturing industries.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Wuxi Lead Intelligent Equipment (470 HK), raised around US$725m in its H-share listing. Its cornerstone investors will soon be released from their lockup.
WLIE is a global platform-based intelligent equipment enterprise, offering intelligent equipment and solutions to a wide range of emerging and high-end manufacturing industries.
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas: Wuxi Lead A/H Lockup Expiry - US$190m Release, All Financial Investors

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine for the month ended Jul 31st.</li>
<li>We estimate that the net southbound flows in July were $8.1bn Inflows.</li>
<li>We tabulate the top stocks by inflows, outflows, stake changes, and holdings, and highlight flows for Knowledge Atlas, Ntes, Kingboard Laminates, Xiaomi, Alibaba.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine for the month ended Jul 31st.
We estimate that the net southbound flows in July were $8.1bn Inflows.
We tabulate the top stocks by inflows, outflows, stake changes, and holdings, and highlight flows for Knowledge Atlas, Ntes, Kingboard Laminates, Xiaomi, Alibaba.


HK Connect Monthly (July): $8.1bn Inflows

<ul>
<li>We analyse the changes of A-H premium on 195 stocks over the last week. The average A-H premium was 81.4% as of Jul 31st.</li>
<li>The average A-H premium changed by 1.9ppt week-on-week, led by real estate, materials, energy and offset by communication services, information technology.</li>
<li>We highlight weekly changes in A-H premium for Hua Hong Semi, CMB, Shandong Gold Mining Co Lt-H, Eastroc.</li>
</ul>


We analyse the changes of A-H premium on 195 stocks over the last week. The average A-H premium was 81.4% as of Jul 31st.
The average A-H premium changed by 1.9ppt week-on-week, led by real estate, materials, energy and offset by communication services, information technology.
We highlight weekly changes in A-H premium for Hua Hong Semi, CMB, Shandong Gold Mining Co Lt-H, Eastroc.


A-H Premium Weekly (Jul 31st): Hua Hong Semi, CMB, Shandong Gold Mining Co Lt-H, Eastroc

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/montage-technology-co-ltd-class-h" target="_blank" data-smartkarma-citation="entities:46333:1" rel="noopener">Montage Technology (6809 HK)</a> (MT), a provider of memory interface chips and interconnect chips, raised around US$1bn in its H-share listing. Its cornerstone investors will soon be released from their lockup.</li>
<li>MT’s product portfolio, mainly comprises memory interface chips and interconnect chips, addresses interconnect bottlenecks while enhancing data rate/bandwidth, reliability, and power efficiency, as per the company.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Montage Technology (6809 HK) (MT), a provider of memory interface chips and interconnect chips, raised around US$1bn in its H-share listing. Its cornerstone investors will soon be released from their lockup.
MT’s product portfolio, mainly comprises memory interface chips and interconnect chips, addresses interconnect bottlenecks while enhancing data rate/bandwidth, reliability, and power efficiency, as per the company.
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas: Montage Technology A/H Lockup Expiry - US$1.1bn+ Release with the Stock up Nearly 150%

China

GigaDevice Semiconductor Inc. is a fabless semiconductor company specializing in advanced memory technologies, microcontrollers (MCUs), sensors, and analog products. Its offerings include SPI NOR Flash, SPI NAND Flash, Parallel NAND Flash, and MCUs based on ARM and RISC-V architectures. The company was founded in April 2005 and is headquartered in Beijing, China.

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GigaDevice Semiconductor (3986 HK)

HK Connect Flows Weekly (Aug 7th): Alibaba, Tencent, Xiaomi, Meituan, Knowledge Atlas, CCB, ICBC

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

Ke Yan, CFA, FRM

Aequitas: Wuxi Lead A/H Lockup Expiry - US$190m Release, All Financial Investors

Wuxi Lead Intelligent Equipment (470 HK), raised around US$725m in its H-share listing. Its cornerstone investors will soon be released from their...

Sumeet Singh

HK Connect Monthly (July): $8.1bn Inflows

We estimate inflows to be $8.1bn from mainland investors to HK stocks in July. We highlight flows for Knowledge Atlas, Ntes, Kingboard Laminates,...

Ke Yan, CFA, FRM

A-H Premium Weekly (Jul 31st): Hua Hong Semi, CMB, Shandong Gold Mining Co Lt-H, Eastroc

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Hua Hong Semi, CMB, Shandong Gold Mining Co Lt-H, Eastroc.

Ke Yan, CFA, FRM

Aequitas: Montage Technology A/H Lockup Expiry - US$1.1bn+ Release with the Stock up Nearly 150%

Montage Technology (6809 HK), a provider of memory interface chips and interconnect chips, raised around US$1bn in its H-share listing. Its...

Sumeet Singh

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52-week Range

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