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

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Sep 5th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Hang Seng Bank (11 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Hang Seng Bank (11 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Sep 5th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Hang Seng Bank (11 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Hang Seng Bank (11 HK).


Hong Kong Buybacks Weekly (Sep 5th): Tencent, China Hongqiao, Hang Seng Bank

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>
Context: Volatility cones provide a clear framework to evaluate whether options are trading cheap or rich.</li>
<li>
Highlights:<a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a>, <a href="https://www.smartkarma.com/entities/hsbc-holdings-plc" target="_blank" data-smartkarma-citation="entities:516:1" rel="noopener">HSBC (5 HK),</a><a href="https://www.smartkarma.com/entities/meituan" target="_blank" data-smartkarma-citation="entities:26970:1" rel="noopener">Meituan (3690 HK)</a>, <a href="https://www.smartkarma.com/entities/ping-an-insurance-grp-co-of-china-ltd" target="_blank" data-smartkarma-citation="entities:12880:1" rel="noopener">Ping An (2318 HK)</a>, and <a href="https://www.smartkarma.com/entities/jd-com-inc" target="_blank" data-smartkarma-citation="entities:29043:1" rel="noopener">JD.com (9618 HK)</a> all display historically cheap implied volatility. Read on for trade suggestions.</li>
<li>
Why Read: Spot opportunities, assess regime shifts, and manage risk effectively — volatility cones turn complex data into actionable insights for traders and investors.</li>
</ul>



Context: Volatility cones provide a clear framework to evaluate whether options are trading cheap or rich.

Highlights:Tencent (700 HK), HSBC (5 HK),Meituan (3690 HK), Ping An (2318 HK), and JD.com (9618 HK) all display historically cheap implied volatility. Read on for trade suggestions.

Why Read: Spot opportunities, assess regime shifts, and manage risk effectively — volatility cones turn complex data into actionable insights for traders and investors.


Cheap Vs. Rich Volatility: What Cones Reveal in Tencent, HSBC, Meituan & More

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight flows of Alibaba, Tencent, Meituan, China Life, HSTECH ETF.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight flows of Alibaba, Tencent, Meituan, China Life, HSTECH ETF.


Hong Kong Connect Flows (August): $18bn Inflows

<ul>
<li>We analysed the earning revision of component stocks of HSI in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on AIA, HSBC, MEITUAN, JD.COM, BIDU, SINO BIOPHARM, XINYI SOLAR, HSBC, Meituan, Jd, AIA, Bidu, Sino Biopharm, Xinyi Solar.</li>
</ul>


We analysed the earning revision of component stocks of HSI in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on AIA, HSBC, MEITUAN, JD.COM, BIDU, SINO BIOPHARM, XINYI SOLAR, HSBC, Meituan, Jd, AIA, Bidu, Sino Biopharm, Xinyi Solar.


HSI Index Earning Revision (Aug): AIA, HSBC, MEITUAN, JD.COM, BIDU, SINO BIOPHARM

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Aug 29th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Sinopec (386 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Hang Seng Bank (11 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Aug 29th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Sinopec (386 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Hang Seng Bank (11 HK).


Hong Kong Buybacks Weekly (Aug 29th): Tencent, China Hongqiao, Sinopec

United Kingdom

HSBC Holdings plc is the holding company for the HSBC Group. The Company provides a variety of international banking and financial services, including retail and corporate banking, trade, trusteeship, securities, custody, capital markets, treasury, private and investment banking, and insurance.  The Group operates worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

HSBC Holdings (HSBA LN)

Hong Kong Buybacks Weekly (Sep 5th): Tencent, China Hongqiao, Hang Seng Bank

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Cheap Vs. Rich Volatility: What Cones Reveal in Tencent, HSBC, Meituan & More

Volatility cones help identify cheap options trading opportunities in Tencent, HSBC, Meituan, Ping An, and JD.com, providing actionable insights...

Gaudenz Schneider

Hong Kong Connect Flows (August): $18bn Inflows

We estimate inflows into HK via southbound trade were $18bn in August, at four month high. We highlight inflows for Alibaba, Tencent, Meituan, and...

Ke Yan, CFA, FRM

HSI Index Earning Revision (Aug): AIA, HSBC, MEITUAN, JD.COM, BIDU, SINO BIOPHARM

We analyzed HSI's consensus for Aug 2025 and highlighted changes of EPS in AIA (1299 HK), HSBC (5 HK), MEITUAN (3690 HK), JD.COM (9618 HK), BIDU...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Aug 29th): Tencent, China Hongqiao, Sinopec

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Buybacks Weekly (Sep 5th): Tencent, China Hongqiao, Hang Seng Bank

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Cheap Vs. Rich Volatility: What Cones Reveal in Tencent, HSBC, Meituan & More

​Volatility cones help identify cheap options trading opportunities in Tencent, HSBC, Meituan, Ping An, and JD.com, providing actionable insights...

Gaudenz Schneider

Hong Kong Connect Flows (August): $18bn Inflows

We estimate inflows into HK via southbound trade were $18bn in August, at four month high. We highlight inflows for Alibaba, Tencent, Meituan, and...

Ke Yan, CFA, FRM

HSI Index Earning Revision (Aug): AIA, HSBC, MEITUAN, JD.COM, BIDU, SINO BIOPHARM

We analyzed HSI's consensus for Aug 2025 and highlighted changes of EPS in AIA (1299 HK), HSBC (5 HK), MEITUAN (3690 HK), JD.COM (9618 HK), BIDU...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Aug 29th): Tencent, China Hongqiao, Sinopec

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Volatility cones help identify cheap options trading opportunities in Tencent, HSBC, Meituan, Ping An, and JD.com, providing actionable insights...