Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Capital Markets

Zelos Technology / Equity Capital Markets

<ul>
<li>Late last week multiple media outlets reported Zelos Tech will seek an IPO in HK soon</li>
<li>In January this year Zelos took an investment from Alibaba's logistics subsidiary, CaiNiao</li>
<li>Zelos seems well-positioned to retain its lead in China's growing commercial AV segment</li>
</ul>


Late last week multiple media outlets reported Zelos Tech will seek an IPO in HK soon
In January this year Zelos took an investment from Alibaba's logistics subsidiary, CaiNiao
Zelos seems well-positioned to retain its lead in China's growing commercial AV segment


Media Reports: Alibaba-Backed Chinese 'Robovan' Maker Zelos Tech to Seek HK IPO, Could Raise US$600M

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 statistics on top repurchases over one week, one month, one quarter and one year periods ended on Apr 24th 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 AIA (1299 HK), Xiaomi (1810 HK), Kuaishou (1024 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were AIA (1299 HK), Tencent (700 HK), Xiaomi (1810 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Apr 24th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were AIA (1299 HK), Xiaomi (1810 HK), Kuaishou (1024 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were AIA (1299 HK), Tencent (700 HK), Xiaomi (1810 HK).


Hong Kong Buybacks Weekly (Apr 24th): AIA, Xiaomi, Kuaishou

Equity Bottom-Up

<ul>
<li>The four China-listed express companies reported divergent March volume, price trends</li>
<li>It appears March and Q126 volume growth remained soft, but ASPs mostly improved Y/Y</li>
<li>STO Express, aligned with Alibaba and CaiNiao, showed the strangest March / Q126 data</li>
</ul>


The four China-listed express companies reported divergent March volume, price trends
It appears March and Q126 volume growth remained soft, but ASPs mostly improved Y/Y
STO Express, aligned with Alibaba and CaiNiao, showed the strangest March / Q126 data


Monthly Chinese Express Tracker | March and Q126 Data From Four China-Listed Firms? All Over the Map

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 2nd.</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 Meituan, BOC, Pop Mart Intl, SMIC, Xiaomi, ICBC, CNOOC, China Life, Alibaba, CK Asset.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 2nd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Meituan, BOC, Pop Mart Intl, SMIC, Xiaomi, ICBC, CNOOC, China Life, Alibaba, CK Asset.


HK Connect Flows Weekly (Apr 2nd): Meituan, BOC, Pop Mart Intl, SMIC, Xiaomi, ICBC, CNOOC

<ul>
<li>February numbers noisy, so we look at combined January-February change in volume</li>
<li>In the first two months of 2026, four China-listed companies' parcel volume up &lt; 8%</li>
<li>Single-Digit growth makes cost cuts tough, puts ZTO's 10%+ growth target into context</li>
</ul>


February numbers noisy, so we look at combined January-February change in volume
In the first two months of 2026, four China-listed companies' parcel volume up &lt; 8%
Single-Digit growth makes cost cuts tough, puts ZTO's 10%+ growth target into context


Monthly Chinese Express Tracker | Sluggish < 8% Volume Growth YTD from Four China-Listed Companies

China

J&T Global Express is an investment holding company primarily engaged in providing integrated express delivery and global logistics services. The company offers parcel sorting, line-haul transportation, dispatching, cross-border services, and cash-on-delivery. It was founded in 2015 and is headquartered in Shanghai, China.

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J&T Global Express (1519 HK)

Media Reports: Alibaba-Backed Chinese 'Robovan' Maker Zelos Tech to Seek HK IPO, Could Raise US$600M

Chinese autonomous 'robovan' maker Zelos may soon seek an IPO in Hong Kong, according to recent media reports. We believe Zelos, an AV 'pure play',...

Tracking Traffic

Hong Kong Buybacks Weekly (Apr 24th): AIA, Xiaomi, Kuaishou

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were AIA (1299 HK),...

Ke Yan, CFA, FRM

Monthly Chinese Express Tracker | March and Q126 Data From Four China-Listed Firms? All Over the Map

The four China-listed express companies reported oddly divergent numbers again in March. Overall, it appears parcel volume for this group grew at...

Tracking Traffic

HK Connect Flows Weekly (Apr 2nd): Meituan, BOC, Pop Mart Intl, SMIC, Xiaomi, ICBC, CNOOC

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Meituan, BOC, Pop Mart Intl, SMIC, Xiaomi, ICBC, CNOOC,...

Ke Yan, CFA, FRM

Monthly Chinese Express Tracker | Sluggish < 8% Volume Growth YTD from Four China-Listed Companies

Combined January-February parcel volume grew by <8%, continuing the trend of sub-10% growth seen in Q425. Under these conditions it will be...

Tracking Traffic

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52-week Range

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