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

In our weekly HK Connect Ideas series, we aim to help our investors understand the flow of southbound trades via the Hong Kong Connect, as analyzed by our proprietary data engine, and highlight interesting trade ideas. We split the stocks eligible for the Hong Kong Connect trade into three groups: component stocks in the HSCEI index, stocks with a market capitalization between USD 1 billion and USD 5 billion, and stocks with a market capitalization between USD 500 million and USD 1 billion.In this insight, we will highlight that inflows into <a href="https://www.smartkarma.com/entities/1119" target="_blank" data-smartkarma-citation="entities:1119:1">ICBC (H) (1398 HK)</a> were particularly strong last week, and inflow into Tencent still sustained from the prior week, thanks to newsflows pertaining to the strong sales of its newly approved mobile game.

In our weekly HK Connect Ideas series, we aim to help our investors understand the flow of southbound trades via the Hong Kong Connect, as analyzed by our proprietary data engine, and highlight interesting trade ideas. We split the stocks eligible for the Hong Kong Connect trade into three groups: component stocks in the HSCEI index, stocks with a market capitalization between USD 1 billion and USD 5 billion, and stocks with a market capitalization between USD 500 million and USD 1 billion.In this insight, we will highlight that inflows into ICBC (H) (1398 HK) were particularly strong last week, and inflow into Tencent still sustained from the prior week, thanks to newsflows pertaining to the strong sales of its newly approved mobile game. 

HK Connect Ideas: ICBC and Tencent (2019-05-17)

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Harbour Centre Development / Event-Driven

Included in <a href="https://www.smartkarma.com/entities/51" target="_blank" data-smartkarma-citation="entities:51:1">Wharf Holdings Ltd (4 HK)</a>'s expected in-specie, will be the 71.28% ownership in <a href="https://www.smartkarma.com/entities/10585" target="_blank" data-smartkarma-citation="entities:10585:1">Harbour Centre Development (51 HK)</a> ("HCD"). On a book value basis, HCD accounts for ~7% of the spin-off.HCD includes the soon-to be launched luxury <a href="http://www.marcopolohotels.com/en/niccolo/hotels/hongkong/central/the_murray/index.html" target="_blank">Murray</a> hotel in Hong Kong and <a href="https://en.wikipedia.org/wiki/Suzhou_IFS" target="_blank">Suzhou IFS</a>, a 3.2mn sqft multi-purpose development project.My discussion with management yesterday touched on recent developments as to the progress of the Murray, the rolling off of Chinese development property, progress updates on Suzhou IFS, and what impact, if any, will occur on valuations for its property investments from the in-specie. Before reading on, HCD trades only US$200k/day

Included in Wharf Holdings Ltd (4 HK)'s expected in-specie, will be the 71.28% ownership in Harbour Centre Development (51 HK) ("HCD"). On a book value basis, HCD accounts for ~7% of the spin-off.HCD includes the soon-to be launched luxury Murray hotel in Hong Kong and Suzhou IFS, a 3.2mn sqft multi-purpose development project.My discussion with management yesterday touched on recent developments as to the progress of the Murray, the rolling off of Chinese development property, progress updates on Suzhou IFS, and what impact, if any, will occur on valuations for its property investments from the in-specie. Before reading on, HCD trades only US$200k/day

Harbour Centre Dev - Into Focus Via Carve Out

Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

Riedel provides equity research and analysis to leading financial organizations. By becoming members of a region (Asia, Latin America, Emerging Europe or Global), organizations have access to an integrated set of services including:

Regular company coverage reports
Up-to-date investment decision advice (buy, hold, sell)
Monthly regional and global conference calls
Customized company reports and unlimited on-line access to the program's services.

Riedel provides research coverage of companies across the full range of market capitalization. Experienced research professionals in each market develop company reports and analysis as well as earnings models and projections. Ratings are Buy, Hold and Sell with a focus on compelling investment ideas - both long and short. Downloadable, dynamic earnings models are built to facilitate sensitivity analysis.

Please feel free to contact us for complimentary access to our written research.  We want to show you that our unique research flow can add value and help develop a long-term, high value-add relationship.

Riedel's model focuses on providing clients with unique insights and consulting in addition to unlimited access to all produced research This model allows members to receive exponential benefits for their retainer fees.

Thematic (Sector/Industry)

<ul>
<li>For the past 7 years Riedel Research has been issuing company-specific Corporate Governance scores on companies in the Emerging Markets.  This service is now being widely used by risk managers, fundamental investors and quant funds.</li>
<li>Our proprietary Corporate Governance (CG) scoring system now covers 1,629 stocks.</li>
<li>RRG CG scores have a proven ability to highlight the risk of frauds and misstatements by EM companies and a track record of adding alpha.  Over the past 5 years a basket of companies with…</li>
</ul>


For the past 7 years Riedel Research has been issuing company-specific Corporate Governance scores on companies in the Emerging Markets.  This service is now being widely used by risk managers, fundamental investors and quant funds.
Our proprietary Corporate Governance (CG) scoring system now covers 1,629 stocks.
RRG CG scores have a proven ability to highlight the risk of frauds and misstatements by EM companies and a track record of adding alpha.  Over the past 5 years a basket of companies with…


RRG Corporate Governance Scoring System Adds Coverage of 60 HKG Names - Who Are the Likely Frauds?

Founder-CEO & Chief Analyst, Real Estate Foresight

Robert Ciemniak

Founder-CEO & Chief Analyst

Real Estate Foresight

Since 2012, REF has been helping investors with market research, project due diligence, and strategy development. This has ranged from detailed assessments and estimates on distressed developers' project portfolios to market due diligence on specific projects to macro-level questions linked to demand for commodities. The unique combination of the housing markets and developer data from data partner China Index Academy in Beijing, primary research, and technology-powered alternative data collection from public sources result in a valuable content set used in REF analytics and reports.

Predictive Analytics for China Property

New data from China's National Bureau of Statistics (NBS) for February for 70 major cities and calculations of the aggregate show a further gradual deceleration in price growth overall on a year-on-year basis from +12.2% in January to +11.8% in February, though the month-on-month growth actually picked up from +0.2% to +0.3%.Top risers on a 12-month basis now show some of the more significant declines on the month-on-month basis, while there are more cities with house prices rising.The biggest…

New data from China's National Bureau of Statistics (NBS) for February for 70 major cities and calculations of the aggregate show a further gradual deceleration in price growth overall on a year-on-year basis from +12.2% in January to +11.8% in February, though the month-on-month growth actually picked up from +0.2% to +0.3%.Top risers on a 12-month basis now show some of the more significant declines on the month-on-month basis, while there are more cities with house prices rising.The biggest…

China Property: What's Going On With House Prices... Based On The Latest NBS Data

Ping An Securities Group (Holdings) / Event-Driven

<a href="https://www.smartkarma.com/entities/1942" target="_blank" data-smartkarma-citation="entities:1942:1">Ping An Securities Group (Holdings) Limited (231 HK)</a>  <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0122/LTN20170122013.pdf" target="_blank">announced</a> on the 20 Jan 2017, substantial shareholders collectively holding 36.6%, had entered into a sale &amp; purchase agreement (SPA), the completion of which would trigger a mandatory general offer.Ping An is currently trading at an 11.5% gross spread to the indicative offer price of $0.096/share.At first glance, this appears a simple deal and straightforward arb. Rummaging under the hood, this is not your plain vanilla situation.Rummaging under the hood, however, rewards rummagers and rubbishers alike.More below the fold.

Ping An Securities Group (Holdings) Limited (231 HK)  announced on the 20 Jan 2017, substantial shareholders collectively holding 36.6%, had entered into a sale &amp; purchase agreement (SPA), the completion of which would trigger a mandatory general offer.Ping An is currently trading at an 11.5% gross spread to the indicative offer price of $0.096/share.At first glance, this appears a simple deal and straightforward arb. Rummaging under the hood, this is not your plain vanilla situation.Rummaging under the hood, however, rewards rummagers and rubbishers alike.More below the fold.

Ping An Securities – Making the Connections

China

Greentown China Holdings Ltd. develops real estate.  The Company builds residential villas, low-rise apartment buildings, and high-rise apartment buildings for middle and high-income people.

Price Gauge
52-week Range	0.00 - 0.00
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Greentown China (3900 HK)

HK Connect Ideas: ICBC and Tencent (2019-05-17)

In our weekly HK Connect Ideas series, we aim to help our investors understand the flow of southbound trades via the Hong Kong Connect, as analyzed...

Ke Yan, CFA, FRM

Harbour Centre Dev - Into Focus Via Carve Out

Included in Wharf Holdings Ltd (4 HK)'s expected in-specie, will be the 71.28% ownership in Harbour Centre Development (51 HK) ("HCD"). On a book...

David Blennerhassett

RRG Corporate Governance Scoring System Adds Coverage of 60 HKG Names - Who Are the Likely Frauds?

For the past 7 years Riedel Research has been issuing company-specific Corporate Governance scores on companies in the Emerging Markets. This...

David Riedel

China Property: What's Going On With House Prices... Based On The Latest NBS Data

New data from China's National Bureau of Statistics (NBS) for February for 70 major cities and calculations of the aggregate show a further gradual...

Robert Ciemniak

Ping An Securities – Making the Connections

Ping An Securities Group (Holdings) Limited (231 HK) announced on the 20 Jan 2017, substantial shareholders collectively holding 36.6%, had...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)