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 Hong Kong Connect flows with our data engine for holding position as of June 13th.</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 BYD, Meituan, CCB, Innovent Biologics, Petrochina, Tencent, Xiaomi, Alibaba, Kuaishou, Xpeng.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of June 13th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for BYD, Meituan, CCB, Innovent Biologics, Petrochina, Tencent, Xiaomi, Alibaba, Kuaishou, Xpeng.


HK Connect Flows Weekly (Jun 13th): BYD, Meituan, CCB, Innovent Biologics, Petrochina, Tencent

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of May 23rd.</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 CCB, China Mobile, Meituan, BOC, CMB, Tencent, Xiaomi.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of May 23rd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for CCB, China Mobile, Meituan, BOC, CMB, Tencent, Xiaomi.


HK Connect Flows Weekly (May 23rd): CCB, China Mobile, Meituan, BOC, CMB, Tencent, Xiaomi

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

<ul>
<li>Health and Happiness' (H&amp;H) FY 2024 results were soft, as the company continued to report weaker earnings and margins from the Baby Nutrition &amp; Care (BNC) business in Mainland China.</li>
<li>The weakness was only partly offset by continued growth in the Adult Nutrition &amp; Care (ANC) and Pet Nutrition &amp; Care (PNC) segments.</li>
<li>Positively, management guided for the infant milk formula business in Mainland China to improve during H1/25 (after a 25% revenue decline in FY 2024), supported by completion of the transition to new Guobiao regulatory standards as well as continued market share gains.</li>
</ul>


Health and Happiness' (H&amp;H) FY 2024 results were soft, as the company continued to report weaker earnings and margins from the Baby Nutrition &amp; Care (BNC) business in Mainland China.
The weakness was only partly offset by continued growth in the Adult Nutrition &amp; Care (ANC) and Pet Nutrition &amp; Care (PNC) segments.
Positively, management guided for the infant milk formula business in Mainland China to improve during H1/25 (after a 25% revenue decline in FY 2024), supported by completion of the transition to new Guobiao regulatory standards as well as continued market share gains.


Health And Happiness (H&H) - Earnings Flash - FY 2024 Results - Lucror Analytics

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Health and Happiness (H&amp;H), Geely Automobile</li>
<li>In the US, the January trade deficit surged to a record high of USD 131.4 bn (USD 128.8 bn e / USD 98.1 bn p).</li>
<li>Imports soared 10% to a record USD 401.2 bn (amid front-loading of imports ahead of tariffs), while exports rose 1.2% to USD 269.8 bn. </li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Health and Happiness (H&amp;H), Geely Automobile
In the US, the January trade deficit surged to a record high of USD 131.4 bn (USD 128.8 bn e / USD 98.1 bn p).
Imports soared 10% to a record USD 401.2 bn (amid front-loading of imports ahead of tariffs), while exports rose 1.2% to USD 269.8 bn. 


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China, Health and Happiness (H&amp;H)</li>
<li>In the US, the December JOLTS job openings unexpectedly declined to 7.6 mn (8.0 mn e / 8.2 mn revised p). The JOLTS lay-off and quits rates were stable at 1.1% and 2.0%, respectively, in December.</li>
<li>Treasuries rallied yesterday, with yields declining 4-5 bps across the curve, on account of the weaker-than-expected JOLTS report.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China, Health and Happiness (H&amp;H)
In the US, the December JOLTS job openings unexpectedly declined to 7.6 mn (8.0 mn e / 8.2 mn revised p). The JOLTS lay-off and quits rates were stable at 1.1% and 2.0%, respectively, in December.
Treasuries rallied yesterday, with yields declining 4-5 bps across the curve, on account of the weaker-than-expected JOLTS report.


Hong Kong

Health and Happiness (H&H) is a global family nutrition company that manufactures and sells premium nutrition and wellness products across adult, baby, and pet segments. Its offerings include infant formulas, probiotic supplements, vitamins, health supplements, and pet nutrition. The company is headquartered in Hong Kong and was founded in 1999.

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Health and Happiness (1112 HK)

HK Connect Flows Weekly (Jun 13th): BYD, Meituan, CCB, Innovent Biologics, Petrochina, Tencent

We analyzed the Hong Kong Connect Scheme for last week and highlighted flows for BYD, Meituan, CCB, Innovent Biologics, Petrochina, Tencent,...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (May 23rd): CCB, China Mobile, Meituan, BOC, CMB, Tencent, Xiaomi

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for CCB, China Mobile, Meituan, BOC, CMB, Tencent, Xiaomi.

Ke Yan, CFA, FRM

Health And Happiness (H&H) - Earnings Flash - FY 2024 Results - Lucror Analytics

Health and Happiness' (H&H) FY 2024 results were soft, as the company continued to report weaker earnings and margins from the Baby...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Health and Happiness (H&H), Geely Automobile

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China, Health and Happiness (H&H)

Lucror Analytics

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