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 analyzed the changes in short interest of KRX stocks as of Mar 28th which has an aggregated short of USD 3.6bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT.</li>
<li>We highlight short interest changes in Samsung Electronics, Shinhan Group, KB Financial, Samsung Biologics.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Mar 28th which has an aggregated short of USD 3.6bn.
We tabulate league table for top short by value and short as multiple of ADT.
We highlight short interest changes in Samsung Electronics, Shinhan Group, KB Financial, Samsung Biologics.


KRX Short Interest Weekly (Mar 28th): Samsung Electronics, Shinhan Group, KB Financial

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Dec 20th which has an aggregated short interest worth USD3.5bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in SCD (000250 KS) , SKC (011790 KS) , Yuhan (000100 KS).</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Dec 20th which has an aggregated short interest worth USD3.5bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in SCD (000250 KS) , SKC (011790 KS) , Yuhan (000100 KS).


KRX Short Interest Weekly (Dec 20th):SCD, SKC, Yuhan

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/classys" target="_blank" data-smartkarma-citation="entities:29688:1" rel="noopener">Classys (214150 KS)</a> reported solid performance in 2Q23, with revenue and operating profit growing 40% and 52%, YoY, respectively, mainly driven by consumables sales in both domestic and overseas markets.  </li>
<li>Despite increase in advertising and R&amp;D expenses, operating profit margin expanded 370 basis points to 50.4%. Net profit increased 34% YoY to KRW18.6 billion.</li>
<li>With 1H23 revenue of KRW84.9 billion, Classys is on track to meet 2023 revenue guidance of KRW170 billion, representing year-over-year increase of 20%.</li>
</ul>



Classys (214150 KS) reported solid performance in 2Q23, with revenue and operating profit growing 40% and 52%, YoY, respectively, mainly driven by consumables sales in both domestic and overseas markets.  
Despite increase in advertising and R&amp;D expenses, operating profit margin expanded 370 basis points to 50.4%. Net profit increased 34% YoY to KRW18.6 billion.
With 1H23 revenue of KRW84.9 billion, Classys is on track to meet 2023 revenue guidance of KRW170 billion, representing year-over-year increase of 20%.


Classys (214150 KS): Beautiful Growth Story Continues; No Sign of Slowing Down

<ul>
<li>
<a href="https://www.smartkarma.com/entities/classys" target="_blank" data-smartkarma-citation="entities:29688:1" rel="noopener">Classys (214150 KS)</a> reported solid performance in 1Q23, with double-digit revenue growth, driven by expansion of domestic consumables sales for Shrink Universe and growth in overseas device and consumables sales.</li>
<li>Operating profit increased 19% YoY to KRW 19.9 billion, leading to 380 basis point margin expansion to 51%. Net profit increased 46% YoY to KRW 18.8 billion.</li>
<li>Classys continues to strengthen its competitiveness through product line and geography expansion. The company has reiterated 2023 revenue guidance of KRW170 billion, representing year-over-year increase of 20%.</li>
</ul>



Classys (214150 KS) reported solid performance in 1Q23, with double-digit revenue growth, driven by expansion of domestic consumables sales for Shrink Universe and growth in overseas device and consumables sales.
Operating profit increased 19% YoY to KRW 19.9 billion, leading to 380 basis point margin expansion to 51%. Net profit increased 46% YoY to KRW 18.8 billion.
Classys continues to strengthen its competitiveness through product line and geography expansion. The company has reiterated 2023 revenue guidance of KRW170 billion, representing year-over-year increase of 20%.


Classys (214150 KS): Strong 1Q23 Result Lifted by Overseas Performance and Consumables Sales

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Cross Asset Strategy

The Korea Exchange announced its KOSDAQ150 and KRX300 indices rebalances today. There were 17 new additions and 17 deletions for KOSDAQ150. Most of the stocks that were expected to be included in KOSDAQ 150 were officially included in the rebalance. However there were a few surprises. For example <a href="https://www.smartkarma.com/entities/nanos-co-ltd" target="_blank" data-smartkarma-citation="entities:16796:1" rel="noopener">Nanos Co Ltd (151910 KS),</a>which was one of the stocks that was expected to be included in KOSDAQ150, did not get included in this indext this time. On the other hand, the following stocks including <a href="https://www.smartkarma.com/entities/sang-a-frontec-co-ltd" target="_blank" data-smartkarma-citation="entities:20692:1" rel="noopener">Sang A Frontec (089980 KS)</a>, Novarex (194700 KS(, CIS (222080 KS), MedPacto (215980 KS), <a href="https://www.smartkarma.com/entities/koreacenter-com-co-ltd" target="_blank" data-smartkarma-citation="entities:28329:1" rel="noopener">Koreacenter.com Co Ltd (290510 KS)</a>, and Soulbrain (357780 KS) which were not on the top of the lists of getting selected into the KOSDAQ150 index by the locals, were formally selected be part of the new KOSDAQ150 inclusions.  The Korea Exchange also made changes to the KRX300 index. Although the KRX300 index is not currently as important as KOSPI200 and KOSDAQ150 indices, it is increasingly gaining in importance among the local institutional investors. The KRX300 had 33 new additions and 35 deletions.

The Korea Exchange announced its KOSDAQ150 and KRX300 indices rebalances today. There were 17 new additions and 17 deletions for KOSDAQ150. Most of the stocks that were expected to be included in KOSDAQ 150 were officially included in the rebalance. However there were a few surprises. For example Nanos Co Ltd (151910 KS),which was one of the stocks that was expected to be included in KOSDAQ150, did not get included in this indext this time. On the other hand, the following stocks including Sang A Frontec (089980 KS), Novarex (194700 KS(, CIS (222080 KS), MedPacto (215980 KS), Koreacenter.com Co Ltd (290510 KS), and Soulbrain (357780 KS) which were not on the top of the lists of getting selected into the KOSDAQ150 index by the locals, were formally selected be part of the new KOSDAQ150 inclusions.  The Korea Exchange also made changes to the KRX300 index. Although the KRX300 index is not currently as important as KOSPI200 and KOSDAQ150 indices, it is increasingly gaining in importance among the local institutional investors. The KRX300 had 33 new additions and 35 deletions. 

KOSDAQ150 and KRX300 Indices Rebalances (Overlapping Additions & Deletions)

South Korea

InBody Co., Ltd. manufactures and markets a body composition analyzer and other related medical instruments.  The Company supplies its products to the hospitals, clinics, fitness clubs, and households.  Biospace also exports its products to overseas markets, such as America, Europe, and Asia.

Price Gauge
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Inbody Co Ltd (041830 KS)

KRX Short Interest Weekly (Mar 28th): Samsung Electronics, Shinhan Group, KB Financial

We analyzed KRX short interest report for the past week and highlighted short interest changes in Samsung Electronics, Shinhan Group, KB Financial,...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Dec 20th):SCD, SKC, Yuhan

We analyzed KRX short interest report for the past week and highlighted short interest changes in SCD (000250 KS) , SKC (011790 KS) , Yuhan (000100...

Ke Yan, CFA, FRM

Classys (214150 KS): Beautiful Growth Story Continues; No Sign of Slowing Down

Classys reported strong 2Q23 performance, with revenue and operating profit growing 40% and 52% YoY, driven by consumables sales. The company...

Tina Banerjee

Classys (214150 KS): Strong 1Q23 Result Lifted by Overseas Performance and Consumables Sales

Since publishing this insight, Classys shares gained 26%. Investors can book partial profit and hold core position, as more upside is seen, due to...

Tina Banerjee

KOSDAQ150 and KRX300 Indices Rebalances (Overlapping Additions & Deletions)

We highlight the KOSDAQ150 and KRX300 indices rebalances. There are some interesting new names, especially among those that are over lapping in...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

KRX Short Interest Weekly (Mar 28th): Samsung Electronics, Shinhan Group, KB Financial

We analyzed KRX short interest report for the past week and highlighted short interest changes in Samsung Electronics, Shinhan Group, KB Financial,...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Dec 20th):SCD, SKC, Yuhan

We analyzed KRX short interest report for the past week and highlighted short interest changes in SCD (000250 KS) , SKC (011790 KS) , Yuhan (000100...

Ke Yan, CFA, FRM

Classys (214150 KS): Beautiful Growth Story Continues; No Sign of Slowing Down

​Classys reported strong 2Q23 performance, with revenue and operating profit growing 40% and 52% YoY, driven by consumables sales. The company...

Tina Banerjee

Classys (214150 KS): Strong 1Q23 Result Lifted by Overseas Performance and Consumables Sales

Since publishing this insight, Classys shares gained 26%. Investors can book partial profit and hold core position, as more upside is seen, due to...

Tina Banerjee

KOSDAQ150 and KRX300 Indices Rebalances (Overlapping Additions & Deletions)

We highlight the KOSDAQ150 and KRX300 indices rebalances. There are some interesting new names, especially among those that are over lapping in...

Douglas Kim

Classys reported strong 2Q23 performance, with revenue and operating profit growing 40% and 52% YoY, driven by consumables sales. The company...