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 143 stocks over the last week. The average A-H premium was 119.0% as of Jun 23rd.</li>
<li>The average A-H premium changed by 4.9ppt week on week, led by information technology, health care, industrials and offset by communication services, financials.</li>
<li>We highlight weekly changes in A-H premium for BYD, CMOC, China Southern, Cansino Biologics, Xinjiang Gold.</li>
</ul>


We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 119.0% as of Jun 23rd.
The average A-H premium changed by 4.9ppt week on week, led by information technology, health care, industrials and offset by communication services, financials.
We highlight weekly changes in A-H premium for BYD, CMOC, China Southern, Cansino Biologics, Xinjiang Gold.


A-H Premium Weekly (Jun 23rd): BYD, CMOC, China Southern, Cansino Biologics, Xinjiang Gold

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/viva-biotech-holdings" target="_blank" data-smartkarma-citation="entities:27850:1" rel="noopener">Viva Biotech Holdings (1873 HK)</a> is raising RMB1.06 billion (~$150 million) through offloading ~24% of its equity interest in Viva Shanghai, the primary entity of the company's CRO business.</li>
<li>The consideration implies a revenue ratio and gross profit ratio of 4.90x and 11.04x, respectively. The ratios are at the similar level of the average ratios of other comparable peers.</li>
<li>Going ahead, Viva Biotech is planning to spin off its CRO business for separate listing in the A-shares market. IPO application is expected to be filed by June 30, 2024.</li>
</ul>



Viva Biotech Holdings (1873 HK) is raising RMB1.06 billion (~$150 million) through offloading ~24% of its equity interest in Viva Shanghai, the primary entity of the company's CRO business.
The consideration implies a revenue ratio and gross profit ratio of 4.90x and 11.04x, respectively. The ratios are at the similar level of the average ratios of other comparable peers.
Going ahead, Viva Biotech is planning to spin off its CRO business for separate listing in the A-shares market. IPO application is expected to be filed by June 30, 2024.


Viva Biotech Holdings (1873 HK): Fund Raising Through Offloading Stake in CRO Arm

<ul>
<li>We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 111.2% as of May 5th.</li>
<li>The average A-H premium changed by -0.3ppt week on week, led by consumer staples, communication services, health care and offset by real estate, energy, information technology.</li>
<li>We highlight weekly changes in A-H premium for CCB, BOC, Sinopec, China Shenhua, CMOC, CRRC, China Southern Airlines, CSC Financials.</li>
</ul>


We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 111.2% as of May 5th.
The average A-H premium changed by -0.3ppt week on week, led by consumer staples, communication services, health care and offset by real estate, energy, information technology.
We highlight weekly changes in A-H premium for CCB, BOC, Sinopec, China Shenhua, CMOC, CRRC, China Southern Airlines, CSC Financials.


A-H Premium Weekly (May 5th): CCB, BOC, Sinopec, China Shenhua, CMOC, CRRC, China Southern Airlines

<ul>
<li>We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 112.5% as of Apr 14th.</li>
<li>The average A-H premium changed by -4.9ppt week on week, led by consumer discretionary, health care, financials.</li>
<li>We highlight weekly changes in A-H premium for Remegen, CREC, Yankuang Energy, CRRC, GWM, CICC.</li>
</ul>


We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 112.5% as of Apr 14th.
The average A-H premium changed by -4.9ppt week on week, led by consumer discretionary, health care, financials.
We highlight weekly changes in A-H premium for Remegen, CREC, Yankuang Energy, CRRC, GWM, CICC.


A-H Premium Weekly (Apr 14th): Remegen, CREC, Yankuang Energy, CRRC, GWM, CICC

<ul>
<li>We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 114.1% as of Mar 24th.</li>
<li>The average A-H premium changed by 0.6ppt week on week, led by information technology, industrials, utilities and offset by communication services, consumer discretionary, energy.</li>
<li>We highlight weekly changes in A-H premium for Dongfang Electric, CEEC, Great Wall Motor.</li>
</ul>


We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 114.1% as of Mar 24th.
The average A-H premium changed by 0.6ppt week on week, led by information technology, industrials, utilities and offset by communication services, consumer discretionary, energy.
We highlight weekly changes in A-H premium for Dongfang Electric, CEEC, Great Wall Motor.


A-H Premium Weekly (Mar 24th): Dongfang Electric, CEEC, Great Wall Motor

China

Joinn Laboratories (China) Co., Ltd. operates as a medicines development company. The Company offers drug development, pharmaceutical analysis, pharmacologic testing, and other related services. Joinn Laboratories (China) also provides pesticide and medical device safety evaluation services.

Price Gauge
52-week Range	0.00 - 0.00
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Joinn Laboratories China Lt (603127 CH)

A-H Premium Weekly (Jun 23rd): BYD, CMOC, China Southern, Cansino Biologics, Xinjiang Gold

We analyzed A-H premium changes in the past week and highlight A-H premium changes for BYD, CMOC, China Southern, Cansino Biologics, Xinjiang Gold.

Ke Yan, CFA, FRM

Viva Biotech Holdings (1873 HK): Fund Raising Through Offloading Stake in CRO Arm

Viva Biotech is raising $150M through offloading 24% of its equity interest in Viva Shanghai, the company's CRO business. Going ahead, the company...

Tina Banerjee

A-H Premium Weekly (May 5th): CCB, BOC, Sinopec, China Shenhua, CMOC, CRRC, China Southern Airlines

We analyzed A-H premium changes in the past week and highlight A-H premium changes for CCB, BOC, Sinopec, China Shenhua, CMOC, CRRC, China Southern...

Ke Yan, CFA, FRM

A-H Premium Weekly (Apr 14th): Remegen, CREC, Yankuang Energy, CRRC, GWM, CICC

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Remegen, CREC, Yankuang Energy, CRRC, GWM, CICC.

Ke Yan, CFA, FRM

A-H Premium Weekly (Mar 24th): Dongfang Electric, CEEC, Great Wall Motor

We analyzed WoW changes in A-H premium and highlight changes in A-H premium for Dongfang Electric, CEEC, Great Wall Motor.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)