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 146 stocks over the last week. The average A-H premium was 127.1% as of Dec 1st.</li>
<li>The average A-H premium changed by 4.7ppt week on week, led by consumer staples, utilities, communication services.</li>
<li>We highlight weekly changes in A-H premium for CMB, Ping An Insurance, Beigene, Ganfeng Lithium.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 127.1% as of Dec 1st.
The average A-H premium changed by 4.7ppt week on week, led by consumer staples, utilities, communication services.
We highlight weekly changes in A-H premium for CMB, Ping An Insurance, Beigene, Ganfeng Lithium.


A-H Premium Weekly (Dec 1st): CMB, Ping An Insurance, Beigene, Ganfeng Lithium

<ul>
<li>We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 122.2% as of Nov 24th.</li>
<li>The average A-H premium changed by 0.9ppt week on week, led by information technology, real estate, consumer discretionary and offset by consumer staples, communication services, energy.</li>
<li>We highlight weekly changes in A-H premium for Angang Steel, Gwmotor, YOFC, Sinopec Oilfield.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 122.2% as of Nov 24th.
The average A-H premium changed by 0.9ppt week on week, led by information technology, real estate, consumer discretionary and offset by consumer staples, communication services, energy.
We highlight weekly changes in A-H premium for Angang Steel, Gwmotor, YOFC, Sinopec Oilfield.


A-H Premium Weekly (Nov 24th): Angang Steel, Gwmotor, YOFC, Sinopec Oilfield

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wuxi-xdc-cayman-inc" target="_blank" data-smartkarma-citation="entities:39917:1" rel="noopener">WuXi XDC Cayman (1877628D HK)</a> priced its IPO at HK$20.60 per share to raise the gross proceeds of US$470 million. The shares will start trading tomorrow.</li>
<li>We previously discussed the IPO in <a href="https://www.smartkarma.com/insights/wuxi-xdc-ipo-the-bull-case" target="_blank" data-smartkarma-citation="insights:116331" rel="noopener">WuXi XDC IPO: The Bull Case</a>, <a href="https://www.smartkarma.com/insights/wuxi-xdc-ipo-the-bear-case" target="_blank" data-smartkarma-citation="insights:116507" rel="noopener">WuXi XDC IPO: The Bear Case</a> and <a href="https://www.smartkarma.com/insights/wuxi-xdc-ipo-valuation-insights" target="_blank" data-smartkarma-citation="insights:116962" rel="noopener">WuXi XDC IPO: Valuation Insights</a>.</li>
<li>The market sentiment on the sector has modestly weakened. However, the IPO price is attractive, with our DCF valuation of HK$22.89 per share, 11.1% above the IPO price.</li>
</ul>



WuXi XDC Cayman (1877628D HK) priced its IPO at HK$20.60 per share to raise the gross proceeds of US$470 million. The shares will start trading tomorrow.
We previously discussed the IPO in WuXi XDC IPO: The Bull Case, WuXi XDC IPO: The Bear Case and WuXi XDC IPO: Valuation Insights.
The market sentiment on the sector has modestly weakened. However, the IPO price is attractive, with our DCF valuation of HK$22.89 per share, 11.1% above the IPO price.


<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 10th.</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 the flows for Tencent, China Mobile and CNOOC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 10th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight the flows for Tencent, China Mobile and CNOOC.


Hong Kong Connect Flows (Nov 10th): Tencent, China Mobile, CNOOC

<ul>
<li>We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 121.6% as of Nov 10th.</li>
<li>The average A-H premium changed by 3.1ppt week on week, led by information technology, utilities, communication services and offset by consumer discretionary, real estate.</li>
<li>We highlight weekly changes in A-H premium for Ping An Insurance, Ganfeng Lithium, Gwmotor, China Longyuan.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 121.6% as of Nov 10th.
The average A-H premium changed by 3.1ppt week on week, led by information technology, utilities, communication services and offset by consumer discretionary, real estate.
We highlight weekly changes in A-H premium for Ping An Insurance, Ganfeng Lithium, Gwmotor, China Longyuan.


A-H Premium Weekly (Nov 10th): Ping An Insurance, Ganfeng Lithium, GWM, China Longyuan

China

JL MAG Rare-Earth specializes in the research, development, production, and sales of high-performance NdFeB permanent magnets, magnetic components, and rare earth recycling. Its products are extensively used in new energy vehicles, wind power, energy-efficient air conditioners, robots, and industrial servo motors. The company is headquartered in Ganzhou, Jiangxi Province, China, and was founded in 2008.

Price Gauge
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JL MAG Rare-Earth (6680 HK)

A-H Premium Weekly (Dec 1st): CMB, Ping An Insurance, Beigene, Ganfeng Lithium

We analyzed A-H premium changes in the past week and highlight A-H premium changes for CMB, Ping An Insurance, Beigene, Ganfeng Lithium.

Ke Yan, CFA, FRM

A-H Premium Weekly (Nov 24th): Angang Steel, Gwmotor, YOFC, Sinopec Oilfield

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Angang Steel, Gwmotor, YOFC, Sinopec Oilfield.

Ke Yan, CFA, FRM

WuXi XDC IPO: Trading Debut

The market sentiment on the sector has modestly weakened. However, the IPO price is attractive, with our DCF valuation of HK$22.89 per share, 11.1%...

Arun George

Hong Kong Connect Flows (Nov 10th): Tencent, China Mobile, CNOOC

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Tencent, China Mobile and CNOOC.

Ke Yan, CFA, FRM

A-H Premium Weekly (Nov 10th): Ping An Insurance, Ganfeng Lithium, GWM, China Longyuan

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Ping An Insurance, Ganfeng Lithium, Gwmotor, China Longyuan.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)