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 analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jul 17th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Xiaomi (1810 HK), J&amp;T Express (1519 HK), Gcl Technology (3800 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Xiaomi (1810 HK), Li Auto (2015 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jul 17th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Xiaomi (1810 HK), J&amp;T Express (1519 HK), Gcl Technology (3800 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Xiaomi (1810 HK), Li Auto (2015 HK).


Hong Kong Buybacks Weekly (Jul 17th): Xiaomi, J&T Express, Gcl Technology

China Specialist, Auto and Industrial Specialist

Victoria Li

Thematic (Sector/Industry)

As expected, auto chip shortage issue wasn't eased in October. And EV players started getting affected. Both Li Auto (Li.US; 2015.HK) and Xpeng (XPEV.US; 9868.HK) reported millimetre radar supply shortage at end October. And, with China's local Covid new cases increasing, auto sector's supply chain might get tightened further in short term.However, according to customers' reaction to optional delivery plans offered by Xpeng and Li Auto for customers whose new car delivery would be affected in Nov, we estimate negative impact on Xpeng would be limit. And Xpeng's new car delivery would continue increase MoM in the rest of this year.In October, Xpeng delivered 10,138 new cars, compared to Li Auto's 7,649 cars and NIO's (NIO.US) 3,667 cars.BUY Xpeng.

As expected, auto chip shortage issue wasn't eased in October. And EV players started getting affected. Both Li Auto (Li.US; 2015.HK) and Xpeng (XPEV.US; 9868.HK) reported millimetre radar supply shortage at end October. And, with China's local Covid new cases increasing, auto sector's supply chain might get tightened further in short term.However, according to customers' reaction to optional delivery plans offered by Xpeng and Li Auto for customers whose new car delivery would be affected in Nov, we estimate negative impact on Xpeng would be limit. And Xpeng's new car delivery would continue increase MoM in the rest of this year.In October, Xpeng delivered 10,138 new cars, compared to Li Auto's 7,649 cars and NIO's (NIO.US) 3,667 cars.BUY Xpeng.

China Auto: Outstanding Xpeng in Dark Moment

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Market dynamics remain healthy which suggests a new broad-based bull market is not far off. With that said, we are still waiting for confirmation in the form of breakouts or bullish price inflections on the broad global indexes (ACWI-US, ACWX-US, EFA-US, and EEM-US) in order to turn bullish.<ul type="disc">
<li>
Actionable Theme: Major Autos/Auto Parts. Global automobile stocks display bullish price and RS inflections with many breaking out to new highs -- add exposure... see pages 3 and 5-6.</li>
<li>
Actionable Theme: Financials. There continues to be a plethora of attractive Financial stocks globally, ranging from banks and insurance to financial services -- add exposure... see pages 4 and 6-14.</li>
</ul>

Market dynamics remain healthy which suggests a new broad-based bull market is not far off. With that said, we are still waiting for confirmation in the form of breakouts or bullish price inflections on the broad global indexes (ACWI-US, ACWX-US, EFA-US, and EEM-US) in order to turn bullish.

Actionable Theme: Major Autos/Auto Parts. Global automobile stocks display bullish price and RS inflections with many breaking out to new highs -- add exposure... see pages 3 and 5-6.

Actionable Theme: Financials. There continues to be a plethora of attractive Financial stocks globally, ranging from banks and insurance to financial services -- add exposure... see pages 4 and 6-14.


Buying Global Financials & Autos/Auto Parts

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 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 flows for Tencent, Knowledge Atlas, Alibaba, Kingboard Laminates, Smic, Yangtze Optical Fibre And-H, Hua Hong Semi, Ntes, Kingboard, Biren Tech.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 10th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent, Knowledge Atlas, Alibaba, Kingboard Laminates, Smic, Yangtze Optical Fibre And-H, Hua Hong Semi, Ntes, Kingboard, Biren Tech.


HK Connect Flows Weekly (Jul 10th): Tencent, Knowledge Atlas, Alibaba, Kingboard Laminates, Smic

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 3rd.</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 flows for Kingboard Laminates, Smic, Alibaba, Kingboard, China Mobile, Hua Hong Semi, Knowledge Atlas, Xiaomi, Meituan, Ping An.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 3rd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Kingboard Laminates, Smic, Alibaba, Kingboard, China Mobile, Hua Hong Semi, Knowledge Atlas, Xiaomi, Meituan, Ping An.


HK Connect Flows Weekly (Jul 3rd): Kingboard Laminates, Smic, Alibaba, Kingboard, China Mobile

China

Li Auto Inc. designs, develops, manufactures, and sells premium smart electric vehicles, including extended-range electric vehicles (EREVs) and battery electric vehicles (BEVs). Their product line includes multi-purpose vehicles (MPVs) and sport utility vehicles (SUVs). The company was founded in 2015 and is headquartered in Beijing, China.

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Li Auto (2015 HK)

Hong Kong Buybacks Weekly (Jul 17th): Xiaomi, J&T Express, Gcl Technology

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Xiaomi (1810 HK),...

Ke Yan, CFA, FRM

China Auto: Outstanding Xpeng in Dark Moment

As expected, auto chip shortage issue wasn't eased in October. And NEV players started getting affected. Both Li Auto (Li.US; 2015.HK) and Xpeng...

Victoria Li

Buying Global Financials & Autos/Auto Parts

Global automobile stocks display bullish price and RS inflections with many breaking out to new highs. Financials are attractive globally, ranging...

Vermilion Research

HK Connect Flows Weekly (Jul 10th): Tencent, Knowledge Atlas, Alibaba, Kingboard Laminates, Smic

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Tencent (700 HK), Knowledge Atlas (2513 HK), Alibaba...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Jul 3rd): Kingboard Laminates, Smic, Alibaba, Kingboard, China Mobile

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Kingboard Laminates (1888 HK), Smic (981 HK), Alibaba...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

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Dividend (Yield)