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 analyse the changes of A-H premium on 195 stocks over the last week. The average A-H premium was 83.0% as of Jul 17th.</li>
<li>The average A-H premium changed by -1.9ppt week-on-week, led by real estate, consumer staples, energy.</li>
<li>We highlight weekly changes in A-H premium for Hua Hong Semi, Innocare, Yofc, China Life, Zijin Mining.</li>
</ul>


We analyse the changes of A-H premium on 195 stocks over the last week. The average A-H premium was 83.0% as of Jul 17th.
The average A-H premium changed by -1.9ppt week-on-week, led by real estate, consumer staples, energy.
We highlight weekly changes in A-H premium for Hua Hong Semi, Innocare, Yofc, China Life, Zijin Mining.


A-H Premium Weekly (Jul 17th): Hua Hong Semi, Innocare, Yofc, China Life, Zijin Mining

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

<ul>
<li>The state has issued clear policies to support gene therapy and related products. Therefore, investors are advised to pay close attention to related companies.</li>
<li>It may not be that easy to forget last Monday's plunge in the healthcare sector in HKEX, which means one thing.</li>
<li>With the introduction of intensive policies, TCM injections will be subject to more and more restrictions.</li>
</ul>


The state has issued clear policies to support gene therapy and related products. Therefore, investors are advised to pay close attention to related companies.
It may not be that easy to forget last Monday's plunge in the healthcare sector in HKEX, which means one thing.
With the introduction of intensive policies, TCM injections will be subject to more and more restrictions.


China Healthcare Weekly (Dec.10) - Last Monday's Plunge, New Policy of Gene Therapy, TCM Injections

<ul>
<li>The 2021 national medical insurance negotiation released results on December 3.</li>
<li>If the COVID virus continues to mutate in a more transmissible direction, the logic of related companies would change.</li>
<li>For those new IPOs that fell on debut, the current "cold winter" is a rational return of the crazy healthcare investment capital market since 2019.</li>
</ul>


The 2021 national medical insurance negotiation released results on December 3.
If the COVID virus continues to mutate in a more transmissible direction, the logic of related companies would change.
For those new IPOs that fell on debut, the current "cold winter" is a rational return of the crazy healthcare investment capital market since 2019.


China Healthcare Weekly (Dec.3)-2021 Insurance Negotiation Results,new COVID Virus,a Rational Return

<ul>
<li>We reviewed the 2021 performance and summarized the 2022 outlook for China healthcare sector.</li>
<li>We listed the 2022 high conviction ideas and mainly analyzed the industry characteristics, the business, the core competitiveness, the forecast and the concerns of related companies.</li>
<li>Overall, there are still good investment opportunities in China healthcare industry in 2022.</li>
</ul>


We reviewed the 2021 performance and summarized the 2022 outlook for China healthcare sector.
We listed the 2022 high conviction ideas and mainly analyzed the industry characteristics, the business, the core competitiveness, the forecast and the concerns of related companies.
Overall, there are still good investment opportunities in China healthcare industry in 2022.


2022 High Conviction (China Healthcare) - Seek the Relative Certainties Out of the Uncertainties

<ul>
<li>While the final results of 2021 national medical insurance negotiation have yet to be announced, here are what's circulating in the market.</li>
<li>The centralized procurement on spring coil in Hebei province would start soon, which means that the centralized procurement in the field of neuro-intervention in China has officially begun.</li>
<li>There is a phenomenon of "valuation upside down" in the primary and secondary market of healthcare investment, so we recommend investors to be more cautious and rational.</li>
</ul>


While the final results of 2021 national medical insurance negotiation have yet to be announced, here are what's circulating in the market.
The centralized procurement on spring coil in Hebei province would start soon, which means that the centralized procurement in the field of neuro-intervention in China has officially begun.
There is a phenomenon of "valuation upside down" in the primary and secondary market of healthcare investment, so we recommend investors to be more cautious and rational.


China Healthcare Weekly (Nov.12)-Medical Insurance Negotiation,Spring Coil VBP,Valuation Upside Down

China

Jiangsu Hengrui Medicine Co., Ltd. develops, manufactures, and markets a variety of medicines and medicine packing materials. The Company's products include anti-tumor medicines, pain-killers, anti-infection medicines, aluminum foil, and other related products.

Price Gauge
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Jiangsu Hengrui Medicine (600276 CH)

A-H Premium Weekly (Jul 17th): Hua Hong Semi, Innocare, Yofc, China Life, Zijin Mining

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Hua Hong Semi, Innocare, Yofc, China Life, Zijin Mining.

Ke Yan, CFA, FRM

China Healthcare Weekly (Dec.10) - Last Monday's Plunge, New Policy of Gene Therapy, TCM Injections

The article mainly analyzed last Monday's plunge in the healthcare sector in HKEX & its potential impact, new policies to support gene therapy and...

Xinyao (Criss) Wang

China Healthcare Weekly (Dec.3)-2021 Insurance Negotiation Results,new COVID Virus,a Rational Return

This article analyzed the 2021 national medical insurance negotiation results, the change in logic of valuation due to the new COVID virus, and a...

Xinyao (Criss) Wang

2022 High Conviction (China Healthcare) - Seek the Relative Certainties Out of the Uncertainties

The article analyzed the 2021 review and 2022 high conviction ideas, including the industry characteristics, the business, the core...

Xinyao (Criss) Wang

China Healthcare Weekly (Nov.12)-Medical Insurance Negotiation,Spring Coil VBP,Valuation Upside Down

This insight mainly analyzed some news circulating about 2021 national medical insurance negotiation results, VBP on spring coil in Hebei and...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)