Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

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Cross Asset Strategy

<ul><li>Huawei /: Huawei cedes some control over sales to automaking partners, sources say</li><li>IPO /: Li Ka-shing’s son takes insurer FWD public in Hong Kong</li><li>Hikvision /: Chinese surveillance-gear maker fights Canadian ban</li></ul>

Huawei /: Huawei cedes some control over sales to automaking partners, sources sayIPO /: Li Ka-shing’s son takes insurer FWD public in Hong KongHikvision /: Chinese surveillance-gear maker fights Canadian ban

CX Daily: Huawei Cedes Some Control Over Sales to Automaking Partners, Sources Say 

<ul><li>Bankruptcy / Cover Story: The rise and fall of China’s ‘fentanyl king’ in corruption-fueled bankruptcy</li><li>Hikvision /: Canada kicks out Chinese surveillance-gear maker</li><li>Nike /: Nike to cut China footwear output to counter $1 billion tariff hit</li></ul>

Bankruptcy / Cover Story: The rise and fall of China’s ‘fentanyl king’ in corruption-fueled bankruptcyHikvision /: Canada kicks out Chinese surveillance-gear makerNike /: Nike to cut China footwear output to counter $1 billion tariff hit

CX Daily: The Rise and Fall of China’s ‘Fentanyl King’ in Corruption-Fueled Bankruptcy 

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<ul><li>In our last report dated 17 October, we highlighted a list of 21 long ideas.</li><li>The basket (equal weighted) of these 21 stocks underperformed MSCI China index by 5.4ppt, delivering 0.2% return (vs MSCI China 5.6%).</li><li>China Meidong Auto and Innovent Biologics delivered over 20% of return, and 4 of our 21 long ideas outperformed the benchmark.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In our last report dated 17 October, we highlighted a list of 21 long ideas.The basket (equal weighted) of these 21 stocks underperformed MSCI China index by 5.4ppt, delivering 0.2% return (vs MSCI China 5.6%).China Meidong Auto and Innovent Biologics delivered over 20% of return, and 4 of our 21 long ideas outperformed the benchmark.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CMBI Research Focus List (November Edition) – Our best high conviction stock ideas

<div><div><div><ul><li>Hikvision and Dahua both reported worse than expected 3Q22 results as macro headwinds surge. </li><li>However, the diverging performance implies that Hikvision is more resilient than Dahua amid macro fluctuations. In particular, Hikvision revenue was up +3% YoY while that of Dahua was down -11% YoY in 3Q22. </li><li>We are surprised to see Dahua’s QoQ decline in revenue, considering the lockdown impact in 2Q22. </li></ul></div></div></div>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hikvision and Dahua both reported worse than expected 3Q22 results as macro headwinds surge. However, the diverging performance implies that Hikvision is more resilient than Dahua amid macro fluctuations. In particular, Hikvision revenue was up +3% YoY while that of Dahua was down -11% YoY in 3Q22. We are surprised to see Dahua’s QoQ decline in revenue, considering the lockdown impact in 2Q22. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China AI – Margin under pressure amid weakening demand

<ul><li>Number of China public security projects bidding remained weak in 3Q22 at -7% YoY (vs. -4% YoY in 2Q22) as Sep number deteriorated (-9% YoY).</li><li>Meanwhile, the US has broadened the restrictions from targeting specific companies (Entity List) to specific products (semiconductors/ equipment above certain computing threshold). </li><li>Our channel checks suggested that the new rules have limited impact to existing commercial AI applications.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Number of China public security projects bidding remained weak in 3Q22 at -7% YoY (vs. -4% YoY in 2Q22) as Sep number deteriorated (-9% YoY).Meanwhile, the US has broadened the restrictions from targeting specific companies (Entity List) to specific products (semiconductors/ equipment above certain computing threshold). Our channel checks suggested that the new rules have limited impact to existing commercial AI applications.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China AI – Public Security Demand Remained Weak in 3Q22

China

Hangzhou Hikvision Digital Technology Co., Ltd develops, manufactures and sells video surveillance products.  The Company manufactures video and audio compression card, network hard disk video recorders, video servers, cameras, network storage, and other digital products.

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Hangzhou Hikvision (002415 CH)

CX Daily: Huawei Cedes Some Control Over Sales to Automaking Partners, Sources Say

TOP STORIES Huawei / Huawei cedes some control over sales to automaking partners, sources say Huawei Technologies Co. Ltd. is relinquishing some...

Caixin Global

CX Daily: The Rise and Fall of China’s ‘Fentanyl King’ in Corruption-Fueled Bankruptcy

Bankruptcy / Cover Story: The rise and fall of China’s ‘fentanyl king’ in corruption-fueled bankruptcy In January, months before a...

Caixin Global

CMBI Research Focus List (November Edition) – Our best high conviction stock ideas

In our last report dated 17 October, we highlighted a list of 21 long ideas.The basket (equal weighted) of these 21 stocks underperformed MSCI...

CMB International

China AI – Margin under pressure amid weakening demand

We are surprised to see Dahua’s QoQ decline in revenue, considering the lockdown impact in 2Q22. Innovative businesses growth (Hikvison +18% YoY/...

CMB International

China AI – Public Security Demand Remained Weak in 3Q22

Number of China public security projects bidding remained weak in 3Q22 at -7% YoY (vs. -4% YoY in 2Q22) as Sep number deteriorated (-9% YoY).

CMB International

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