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 analyze the weekly Hong Kong Connect flows with our data engine for holding position as of December 2nd.</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 inflows into Meituan, Country Garden, China Mobile and outflows from Longfor, Tencent.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of December 2nd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight inflows into Meituan, Country Garden, China Mobile and outflows from Longfor, Tencent.


Hong Kong Connect Flows (Dec 2nd): Meituan, Country Garden, China Mobile, Longfor, Tencent

Asia biased macro & technical analysis, Untying The Gordian Knot

Untying The Gordian Knot

Asia biased macro & technical analysis

A differentiated process with a primary focus on Asia. Technical Analysis as core and Macro drivers that could bring the view to fruition & changes that could make the idea fall apart. The objective is to be the best in class, hence corner shop.

Technical Analysis

<ul><li>Volume picked up on Tuesday, 29th November, just slightly below the 15th November volume, the previous buying climax.</li><li>Wednesday's Volume fell 10% with new price highs.</li><li>The erratic rather than trending Volume without capitulation volume on the 31st October price lows are hallmarks of a bear market rally.</li></ul>

Volume picked up on Tuesday, 29th November, just slightly below the 15th November volume, the previous buying climax.Wednesday's Volume fell 10% with new price highs.The erratic rather than trending Volume without capitulation volume on the 31st October price lows are hallmarks of a bear market rally.

Volume, Call Options, Tencent, and China Overseas

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Thematic (Sector/Industry)

<ul><li>China’s latest helping hand to the property market is expected to benefit state-owned and quality private developers.</li><li>Allowing developers to raise money on the Chinese mainland and Hong Kong stock markets could help firms get their hands on fresh cash and acquire assets from their peers that have defaulted</li><li>The new measures, announced by the China Securities Regulatory Commission (CSRC) in a Monday Q&amp;A, allow such share sales for purposes including debt repayments and acquisitions</li></ul>

China’s latest helping hand to the property market is expected to benefit state-owned and quality private developers.Allowing developers to raise money on the Chinese mainland and Hong Kong stock markets could help firms get their hands on fresh cash and acquire assets from their peers that have defaultedThe new measures, announced by the China Securities Regulatory Commission (CSRC) in a Monday Q&amp;A, allow such share sales for purposes including debt repayments and acquisitions

China’s Property Support Seen as Helping State-Owned, Quality Private Developers

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>We think the third arrow from CSRC is positive to the sector as 1) the signal is stronger than the previous 16 measures by PBOC because the equity financing channel has been long freeze for A-share property names.</li><li>So that means the attitude towards property sector is a U-turn to help developers in need.</li><li>2) It opens up the imagination that troubled developers may issue equity to SOEs or local government for mixed ownership. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We think the third arrow from CSRC is positive to the sector as 1) the signal is stronger than the previous 16 measures by PBOC because the equity financing channel has been long freeze for A-share property names.So that means the attitude towards property sector is a U-turn to help developers in need.2) It opens up the imagination that troubled developers may issue equity to SOEs or local government for mixed ownership. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Property Sector – Equity financing reopens to fuel another rally

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Inside is a recap of movements in the last week relating to the Shanghai and Shenzhen-Hong Kong Stock Connect facilities, broken down by company and industry.</li>
<li>Overall, the net outflow over the past week was ~HK$0.14bn, split (-HK$0.47bn) for Shanghai and (+HK$0.32bn) for Shenzhen.</li>
<li>The largest inflows were in <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> and <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index-etf" target="_blank" data-smartkarma-citation="entities:25:1" rel="noopener">Hang Seng H Share (2828 HK)</a>. The largest outflows were in<a href="https://www.smartkarma.com/entities/meituan-dianping" target="_blank" data-smartkarma-citation="entities:26970:1" rel="noopener">Meituan (3690 HK)</a> and <a href="https://www.smartkarma.com/entities/tracker-fund-of-hong-kong-ltd" target="_blank" data-smartkarma-citation="entities:29257:1" rel="noopener">Tracker Fund of HK (2800 HK)</a>.</li>
</ul>


Inside is a recap of movements in the last week relating to the Shanghai and Shenzhen-Hong Kong Stock Connect facilities, broken down by company and industry.
Overall, the net outflow over the past week was ~HK$0.14bn, split (-HK$0.47bn) for Shanghai and (+HK$0.32bn) for Shenzhen.
The largest inflows were in Tencent (700 HK) and Hang Seng H Share (2828 HK). The largest outflows were inMeituan (3690 HK) and Tracker Fund of HK (2800 HK).


Shanghai/​​​​​​​​​​​​​​​​​​​​​Shenzhen Southbound Connect: Weekly Moves (18 November 2022)

China

Longfor Properties Co. Ltd. operates in the property development, property investment and property management businesses in China.

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

Longfor Properties (960 HK)

Hong Kong Connect Flows (Dec 2nd): Meituan, Country Garden, China Mobile, Longfor, Tencent

We analyzed the Hong Kong Connect Scheme for last week and highlight flows for Meituan, Country Garden, China Mobile, Longfor, Tencent.

Ke Yan, CFA, FRM

Volume, Call Options, Tencent, and China Overseas

Volume picked up on Tuesday, 29th November, just slightly below the 15th November volume, the previous buying climax. Wednesday's Volume fell 10%...

Untying The Gordian Knot

China’s Property Support Seen as Helping State-Owned, Quality Private Developers

China’s latest helping hand to the property market is expected to benefit state-owned and quality private developers. Allowing developers to raise...

Caixin Global

China Property Sector – Equity financing reopens to fuel another rally

After market closed, CSRC’s Chairman Yi Huiman announced that in order to maintain stable and heathy development of real estate market

CMB International

Shanghai/Shenzhen Southbound Connect: Weekly Moves (18 November 2022)

Inside is a recap of movements in the Shanghai/Shenzhen-HK Connect. Overall, the net outflow over the past week was ~HK$0.14bn, split (-HK$0.47bn)...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Connect Flows (Dec 2nd): Meituan, Country Garden, China Mobile, Longfor, Tencent

We analyzed the Hong Kong Connect Scheme for last week and highlight flows for Meituan, Country Garden, China Mobile, Longfor, Tencent.

Ke Yan, CFA, FRM

Volume, Call Options, Tencent, and China Overseas

Volume picked up on Tuesday, 29th November, just slightly below the 15th November volume, the previous buying climax. Wednesday's Volume fell 10%...

Untying The Gordian Knot

China’s Property Support Seen as Helping State-Owned, Quality Private Developers

China’s latest helping hand to the property market is expected to benefit state-owned and quality private developers. Allowing developers to raise...

Caixin Global

China Property Sector – Equity financing reopens to fuel another rally

After market closed, CSRC’s Chairman Yi Huiman announced that in order to maintain stable and heathy development of real estate market

CMB International

Shanghai/​​​​​​​​​​​​​​​​​​​​​Shenzhen Southbound Connect: Weekly Moves (18 November 2022)

Inside is a recap of movements in the Shanghai/Shenzhen-HK Connect. Overall, the net outflow over the past week was ~HK$0.14bn, split (-HK$0.47bn)...

David Blennerhassett

Shanghai/Shenzhen Southbound Connect: Weekly Moves (18 November 2022)