Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Feb 3rd.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Bidu, Manulife, Mengniu Dairy, CDF, Tencent, Baba, Anta Sports, Wuxi Bio.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Feb 3rd.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Bidu, Manulife, Mengniu Dairy, CDF, Tencent, Baba, Anta Sports, Wuxi Bio.


HK Short Interest Weekly: Short Covers for Tencent, Baba, Anta, Wuxi Biologics

China/Asia TMT

Shawn Yang

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Equity Bottom-Up

<ul>
<li>We expect that Kuaishou’s 4Q22 top line and bottom line would be 0.2%/3.7% vs cons, as major business lines are recovering with stimuli of CNY promotion campaigns. </li>
<li>However, we estimate that its 2023 top line/bottom line would miss cons. by (0.9%)/(14.2%) due to our concerns of increasing competition and internal restructuring.</li>
<li>Maintain SELL rating but raise TP to HK$ 56 to reflect on-track recovering trend as the macro improves. </li>
</ul>


We expect that Kuaishou’s 4Q22 top line and bottom line would be 0.2%/3.7% vs cons, as major business lines are recovering with stimuli of CNY promotion campaigns. 
However, we estimate that its 2023 top line/bottom line would miss cons. by (0.9%)/(14.2%) due to our concerns of increasing competition and internal restructuring.
Maintain SELL rating but raise TP to HK$ 56 to reflect on-track recovering trend as the macro improves. 


Kuaishou（1024.HK）4Q22 Preview: Competition and Restructure Are Pending Issues

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jan 27th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Li Ning, Ccb, Beigene, Hworld, Hutchmed.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jan 27th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Li Ning, Ccb, Beigene, Hworld, Hutchmed.


HK Short Interest Weekly: Li Ning, Ccb, Beigene, Hworld, Hutchmed

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outlfows, and holding by mainland investors.</li>
<li>We highlight flows of China Mobile, BYD, Simcere, ICBC, CNOOC, Meituan, Geely, CCB, Country Garden Services, Anta. </li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outlfows, and holding by mainland investors.
We highlight flows of China Mobile, BYD, Simcere, ICBC, CNOOC, Meituan, Geely, CCB, Country Garden Services, Anta. 


Hong Kong Connect Flows Monthly: Health Care Led Inflows in Jan

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jan 20th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Cm Bank, Baba, Wuxi Apptec.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jan 20th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Cm Bank, Baba, Wuxi Apptec.


HK Short Interest Weekly: CMB, Baba, Wuxi Apptec

China

Kuaishou Technology operates as a content community and social platform. The Company helps users create, upload and watch short videos on mobile devices. Kuaishou Technology offers services worldwide.

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Kuaishou Technology (1024 HK)

HK Short Interest Weekly: Short Covers for Tencent, Baba, Anta, Wuxi Biologics

We analyzed the latest HK SFC report for aggregate short position as of Feb 3rd and highlight short interest changes in Bidu, Manulife, Mengniu...

Ke Yan, CFA, FRM

Kuaishou（1024.HK）4Q22 Preview: Competition and Restructure Are Pending Issues

We estimate that its 2023 top line/bottom line would miss cons. by (0.9%)/(14.2%) due to concerns of increasing competition and internal...

Blue Lotus Research Institute

HK Short Interest Weekly: Li Ning, Ccb, Beigene, Hworld, Hutchmed

We analyzed the latest HK SFC report for aggregate short position as of Jan 27th and highlight short interest changes in Li Ning, Ccb, Beigene,...

Ke Yan, CFA, FRM

Hong Kong Connect Flows Monthly: Health Care Led Inflows in Jan

We analyzed the Hong Kong Connect Scheme for January and highlight flows for China Mobile, BYD, Simcere, ICBC, CNOOC, Meituan, Geely, CCB, Country...

Ke Yan, CFA, FRM

HK Short Interest Weekly: CMB, Baba, Wuxi Apptec

We analyzed the latest HK SFC report for aggregate short position as of Jan 20th and highlight short interest changes in CMB, Baba, Wuxi Apptec.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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