HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

Huadong Medicine Co Ltd A / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/huadong-medicine-co-ltd-a" target="_blank" data-smartkarma-citation="entities:18522:1" rel="noopener">Huadong Medicine (000963 CH)</a>’s traditional core businesses are facing great pressure due to VBP and medical insurance negotiation, which is difficult for Huadong to establish its long-term core competitiveness.</li>
<li>Despite the fierce competition in medical cosmetology industry, the entry of medical cosmetology equipment field is a wise step, helping Huadong form the most complete layout among competitors.</li>
<li>In terms of whether Huangdong could achieve business transformation successfully, the future performance of medical cosmetology business is the key breakthrough point.</li>
</ul>



Huadong Medicine (000963 CH)’s traditional core businesses are facing great pressure due to VBP and medical insurance negotiation, which is difficult for Huadong to establish its long-term core competitiveness.
Despite the fierce competition in medical cosmetology industry, the entry of medical cosmetology equipment field is a wise step, helping Huadong form the most complete layout among competitors.
In terms of whether Huangdong could achieve business transformation successfully, the future performance of medical cosmetology business is the key breakthrough point.


Huadong Medicine Co Ltd (000963.CH) - The Medical Cosmetology Business Is the Key Breakthrough Point

Bloomage Biotechnology  Lt / Equity Bottom-Up

<ul>
<li>There’re many uncertainties about Imeik’s development strategy, resilience in front of risks and corresponding business performance, which could make it difficult for the market to calmly view the next fluctuation.</li>
<li>Despite lower profit margin, Bloomage is more R&amp;D oriented and characterized by integration of industrial chain,enabling it to establish wider moat and move forward more stably in the long term.</li>
<li>Our view is that <a href="https://www.smartkarma.com/entities/bloomage-biotechnology-corporation-a" target="_blank" data-smartkarma-citation="entities:30390:1" rel="noopener">Bloomage Biotechnology Corporation-A (688363 CH)</a> is expected to have more potential and imagination space than <a href="https://www.smartkarma.com/entities/imeik-technology-development-co-ltd" target="_blank" data-smartkarma-citation="entities:32170:1" rel="noopener">Imeik Technology Development (300896 CH)</a> in the future.</li>
</ul>


There’re many uncertainties about Imeik’s development strategy, resilience in front of risks and corresponding business performance, which could make it difficult for the market to calmly view the next fluctuation.
Despite lower profit margin, Bloomage is more R&amp;D oriented and characterized by integration of industrial chain,enabling it to establish wider moat and move forward more stably in the long term.
Our view is that Bloomage Biotechnology Corporation-A (688363 CH) is expected to have more potential and imagination space than Imeik Technology Development (300896 CH) in the future.


Bloomage Biotechnology (688363.CH) Vs Imeik Technology (300896.CH) - The Logic and the Outlook

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

LG Energy Solution / Equity Capital Markets

<ul>
<li>We take a look at the Asia Pacific IPO pipeline for 2022. This list has been compiled on a best effort basis from tracking company filings and other sources.</li>
<li>For readers who aren't familiar with our coverage, we aim to cover all IPOs and placements with a minimum deal size of US$100m across Asia-Pacific (ex A-shares), including China ADRs. </li>
<li>The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.</li>
</ul>


We take a look at the Asia Pacific IPO pipeline for 2022. This list has been compiled on a best effort basis from tracking company filings and other sources.
For readers who aren't familiar with our coverage, we aim to cover all IPOs and placements with a minimum deal size of US$100m across Asia-Pacific (ex A-shares), including China ADRs. 
The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.


Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Index Rebalance

Contemporary Amperex Technology (CATL) / Index Rebalance

Contemporary Amperex Technology (CATL) (300750 CH)

<ul>
<li>There are 28 changes for the <a href="https://www.smartkarma.com/entities/shanghai-shenzhen-csi-300-index" target="_blank" data-smartkarma-citation="entities:22906:1" rel="noopener">Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX)</a> at the upcoming rebalance that will be implemented at the close of trading on 10 December.</li>
<li>The inclusion of ChiNext stocks with 1 year of listing history (down from 3 years) and the inclusion of other large stocks results in a one-way turnover greater than 10%.</li>
<li>There are 10 trading days to implementation and we expect the inclusions to outperform the market. A long inclusion basket can be hedged with CSI300 index futures.</li>
</ul>


There are 28 changes for the Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX) at the upcoming rebalance that will be implemented at the close of trading on 10 December.
The inclusion of ChiNext stocks with 1 year of listing history (down from 3 years) and the inclusion of other large stocks results in a one-way turnover greater than 10%.
There are 10 trading days to implementation and we expect the inclusions to outperform the market. A long inclusion basket can be hedged with CSI300 index futures.


CSI300 Index Rebalance: Methodology Tweak Results in More Changes & Larger Turnover

Beijing Evercare Medical Technology Group / Equity Capital Markets

Beijing Evercare Medical Technology Group (EMT HK)

Beijing Evercare Medical Technology Group

<p>With the innovation of medical beauty technology and consumers' higher standard for their own image, the market demand for aesthetic medical services is increasing. After <a href="https://www.smartkarma.com/entities/imeik-technology-development-co-ltd" target="_blank" data-smartkarma-citation="entities:32170:1" rel="noopener">Imeik Technology Development (300896 CH)</a> submitted its prospectus to HKEX, another company in medical beauty industry, <a href="https://www.smartkarma.com/entities/beijing-evercare-medical-technology-group-co-ltd" target="_blank" data-smartkarma-citation="entities:34189:1" rel="noopener">Beijing Evercare Medical Technology Group (EMT HK)</a>, also officially started its IPO process. Evercare is a leading private aesthetic medical institution group in China. However, if look closely, Evercare is actually facing many challenges, and its outlook may not be optimistic. This insight mainly analyzed the concerns of the Company that worth the investors’ attention.</p>

With the innovation of medical beauty technology and consumers' higher standard for their own image, the market demand for aesthetic medical services is increasing. After Imeik Technology Development (300896 CH) submitted its prospectus to HKEX, another company in medical beauty industry, Beijing Evercare Medical Technology Group (EMT HK), also officially started its IPO process. Evercare is a leading private aesthetic medical institution group in China. However, if look closely, Evercare is actually facing many challenges, and its outlook may not be optimistic. This insight mainly analyzed the concerns of the Company that worth the investors’ attention.

Pre-IPO Beijing Evercare Medical Technology Group - The Outlook May Not Be Optimistic

China

Imeik Technology Development Co,,Ltd. manufactures and distributes biomedical products. The Company produces sodium hyaluronate, collagens, polylactic acids, and other related products. Imeik Technology Development also produces medical devices.

Imeik Technology Development C (300896 CH)

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Imeik Technology Development C (300896 CH)

Huadong Medicine Co Ltd (000963.CH) - The Medical Cosmetology Business Is the Key Breakthrough Point

We analyzed the logic of performance decline in terms of Huadong's core business.But the entry of medical cosmetology equipment field is a wise...

Xinyao (Criss) Wang

Bloomage Biotechnology (688363.CH) Vs Imeik Technology (300896.CH) - The Logic and the Outlook

This insight compare the two leading companies in China medical beauty industry Bloomage and Imeik in terms of the difference in positioning,...

Xinyao (Criss) Wang

Aequitas 2022 Asia IPO Pipeline

We take a look at the Asia Pacific IPO pipeline for 2022. This list has been compiled on a best effort basis from tracking company filings and...

Sumeet Singh

CSI300 Index Rebalance: Methodology Tweak Results in More Changes & Larger Turnover

There are 28 changes to the CSI300 index at the Dec rebalance. A few large inclusions plus the expansion of the index universe pushes one-way...

Brian Freitas

Pre-IPO Beijing Evercare Medical Technology Group - The Outlook May Not Be Optimistic

The article analyzed Evercare Medical in terms of the concerns that worth the attention such as the business expansion, the profitability, lack of...

Xinyao (Criss) Wang

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