Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Index Rebalance

Orient Overseas (International) / Index Rebalance

<ul>
<li>There are 29 inclusions and 12 deletions for the HSCI at the March rebalance. 26 of the inclusions will be added to Connect while all deletes will leave Stock Connect.</li>
<li>Some of the Stock Connect deletions have a lot of mainland holdings and there could unwinding of some of the positions ahead of becoming sell-only on the link.</li>
<li>Orient Overseas International, United Energy, Cloud Village and Gcl Poly Energy Holdings Limited could also move higher over the next couple of weeks before the stocks enter Stock Connect.</li>
</ul>


There are 29 inclusions and 12 deletions for the HSCI at the March rebalance. 26 of the inclusions will be added to Connect while all deletes will leave Stock Connect.
Some of the Stock Connect deletions have a lot of mainland holdings and there could unwinding of some of the positions ahead of becoming sell-only on the link.
Orient Overseas International, United Energy, Cloud Village and Gcl Poly Energy Holdings Limited could also move higher over the next couple of weeks before the stocks enter Stock Connect.


HSCI Index Rebalance: 29 Adds, 12 Deletes & Changes to Stock Connect

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Biocytogen Pharmaceuticals / Equity Capital Markets

<ul>
<li>The candidates in Biocytogen’s pipeline do not have advantages in development progress and also have to face fierce competition, so continuous large R&amp;D investment in the future would be inevitable.</li>
<li>However, the development model of Biocytogen is very novel and special, which could make it a rare target in the market if it is successfully listed.  </li>
<li>Therefore, the certainty of Biocytogen’s future growth is expected to improve gradually, and the mid- and long-term investment value would continue to increase due to the high moat.</li>
</ul>


The candidates in Biocytogen’s pipeline do not have advantages in development progress and also have to face fierce competition, so continuous large R&amp;D investment in the future would be inevitable.
However, the development model of Biocytogen is very novel and special, which could make it a rare target in the market if it is successfully listed.  
Therefore, the certainty of Biocytogen’s future growth is expected to improve gradually, and the mid- and long-term investment value would continue to increase due to the high moat.


Pre-IPO Biocytogen Pharmaceuticals - The Novel Development Model Offset the Pipeline's Shortcomings

<ul>
<li>The review period for the March review of the HSCI ended on 31 December. There are a lot of new listings that should be included in the index.</li>
<li>SenseTime is a high probability inclusion to the index, though it will only be added to Stock Connect in July once it completes 6 months and 20 trading days.</li>
<li>Xpeng and Li Auto will be added to Stock Connect in Feb/March if they pass the velocity test. We see Li Auto as failing the test, while Xpeng is close.</li>
</ul>


The review period for the March review of the HSCI ended on 31 December. There are a lot of new listings that should be included in the index.
SenseTime is a high probability inclusion to the index, though it will only be added to Stock Connect in July once it completes 6 months and 20 trading days.
Xpeng and Li Auto will be added to Stock Connect in Feb/March if they pass the velocity test. We see Li Auto as failing the test, while Xpeng is close.


HSCI Index Rebalance and Stock Connect: Plenty of New Listings Should Be Included

Equity Bottom-Up

<ul>
<li>We analyzed both the strength and the concerns about the core and key candidates in the pipeline.</li>
<li>We also analyzed the concerns about the valuation growth potential due to the strategy that <a href="https://www.smartkarma.com/entities/keymed-biosciences-inc" target="_blank" data-smartkarma-citation="entities:33011:1" rel="noopener">Keymed Biosciences Inc (2162 HK)</a> chose.</li>
<li>For trading strategy, opportunities occur when the share price goes down,and then take profits when it goes up, but it is not recommended to hold it for a long time.</li>
</ul>


We analyzed both the strength and the concerns about the core and key candidates in the pipeline.
We also analyzed the concerns about the valuation growth potential due to the strategy that Keymed Biosciences Inc (2162 HK) chose.
For trading strategy, opportunities occur when the share price goes down,and then take profits when it goes up, but it is not recommended to hold it for a long time.


Keymed Biosciences (2162.HK) - The Pipeline, the Concerns on Valuation Growth & The Trading Strategy

<ul>
<li>We analyzed <a href="https://www.smartkarma.com/entities/shanghai-junshi-bioscience-h" target="_blank" data-smartkarma-citation="entities:27760:1" rel="noopener">Shanghai Junshi Bioscience Co. Ltd. (1877 HK)</a>’s pipeline, the commercialization strategy, the talents, the outlook and the related concerns.</li>
<li>We also analyzed what the valuation system ecology of top and first-class companies could be like as well as the logic behind.</li>
<li>Revolutionary companies can establish new business models, change the game rule at any time and have the initiative in hands. So, will Junshi progress or go backwards instead?</li>
</ul>


We analyzed Shanghai Junshi Bioscience Co. Ltd. (1877 HK)’s pipeline, the commercialization strategy, the talents, the outlook and the related concerns.
We also analyzed what the valuation system ecology of top and first-class companies could be like as well as the logic behind.
Revolutionary companies can establish new business models, change the game rule at any time and have the initiative in hands. So, will Junshi progress or go backwards instead?


Shanghai Junshi Bioscience (1877.HK) - Will Junshi Progress or Go Backwards Instead?

China

Keymed Biosciences is a biotechnology company focused on the in-house discovery and development of innovative biological therapies for autoimmune diseases and oncology. Their pipeline includes over 50 programs, with key products like Kangyueda® (Stapokibart, CM310) for atopic dermatitis, chronic rhinosinusitis with nasal polyps, and seasonal allergic rhinitis. The company was founded in 2016 and is headquartered in Chengdu, China.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Keymed Biosciences (2162 HK)

HSCI Index Rebalance: 29 Adds, 12 Deletes & Changes to Stock Connect

There are 29 adds & 12 deletes for the HSCI at the March rebal. 26 of the inclusions will join Southbound Stock Connect while all the deletes will...

Brian Freitas

Pre-IPO Biocytogen Pharmaceuticals - The Novel Development Model Offset the Pipeline's Shortcomings

We analyzed the unique development strategy of Biocytogen, and also pointed out the concerns on its pipeline. However, its business model is hard...

Xinyao (Criss) Wang

HSCI Index Rebalance and Stock Connect: Plenty of New Listings Should Be Included

There could be up to 34 adds and 22 deletes for the HSCI in March based on market cap, liquidity and prolonged suspensions. A lot of new listings,...

Brian Freitas