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

Cross Asset Strategy

<ul><li>Financial meeting / Caixin Explains: China concludes sixth top financial meeting to tackle new challenges</li><li><p>Personnel /: China’s wave of ministry-level leadership shakeups rolls on in October</p></li><li><p>PE /: Communist Party cadres told to steer clear of private equity</p></li></ul>

Financial meeting / Caixin Explains: China concludes sixth top financial meeting to tackle new challengesPersonnel /: China’s wave of ministry-level leadership shakeups rolls on in OctoberPE /: Communist Party cadres told to steer clear of private equity

CX Daily: China Concludes Sixth Top Financial Meeting to Tackle New Challenges 

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Thematic (Sector/Industry)

<ul>
<li>Semiconductors are the 2nd largest industry allocation and the 6th largest overweight among EM active managers. However, the momentum witnessed between 2019 and 2021 has stalled.</li>
<li>EM Growth funds remain overweight, but Value and GARP funds switch from an equal weight to an underweight.</li>
<li>TSMC is the dominant stock holding whilst SK Hynix and Mediatek occupy a 2nd tier. Alchip Technologies has captured inflows, whilst EM funds are closing LONGi Green Energy Technology exposure</li>
</ul>


Semiconductors are the 2nd largest industry allocation and the 6th largest overweight among EM active managers. However, the momentum witnessed between 2019 and 2021 has stalled.
EM Growth funds remain overweight, but Value and GARP funds switch from an equal weight to an underweight.
TSMC is the dominant stock holding whilst SK Hynix and Mediatek occupy a 2nd tier. Alchip Technologies has captured inflows, whilst EM funds are closing LONGi Green Energy Technology exposure


EM Semiconductors:  Positioning Deep Dive

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

<ul>
<li>Contrast to weak EV demand and solar PV inventory correction abroad, domestic renewable capacities have been growing at such a neck-breaking speed that we foresee a utilization drop in 2023;</li>
<li>China’s firm and consistent renewable policy and a unified energy vision have been its strength,</li>
<li>But now have developed a few inconsistencies. Resolution of inconsistency push the sector to higher grounds. </li>
</ul>


Contrast to weak EV demand and solar PV inventory correction abroad, domestic renewable capacities have been growing at such a neck-breaking speed that we foresee a utilization drop in 2023;
China’s firm and consistent renewable policy and a unified energy vision have been its strength,
But now have developed a few inconsistencies. Resolution of inconsistency push the sector to higher grounds. 


[Blue Lotus Sector Update]: Chinese Renewable Energy Comes to Crossroads

<ul>
<li>NIO/LI: NIO to launch the all-new EC6 on Friday (+/-)</li>
<li>BYD/ TSLA /LI /XPEV/NIO: August China Automotive Delivery Data Update (+)</li>
<li>Gloated inventory in solar panel led to price collapse in Europe（/）</li>
</ul>


NIO/LI: NIO to launch the all-new EC6 on Friday (+/-)
BYD/ TSLA /LI /XPEV/NIO: August China Automotive Delivery Data Update (+)
Gloated inventory in solar panel led to price collapse in Europe（/）


China TMT Update-NIO/LI/XPEV/BYD/TSLA/Solar Power-All-New EC6/China Automotive Delivery Data

<ul>
<li>The biggest debate in solar PV technology today is the rapid adoption of N-type solar cells (TopCon), championed by Jinko, vs. the cautious approach... </li>
<li>To prolong the life cycle of the current P-type solar cell (PERC), purposely represented by LONGi; We believe this division is misleading.</li>
<li>LONGi’s strategy is far from simply squeeze out the last penny of PERC. We believe it represents a new thinking trying to set LONGi apart of the old investment logic.</li>
</ul>


The biggest debate in solar PV technology today is the rapid adoption of N-type solar cells (TopCon), championed by Jinko, vs. the cautious approach... 
To prolong the life cycle of the current P-type solar cell (PERC), purposely represented by LONGi; We believe this division is misleading.
LONGi’s strategy is far from simply squeeze out the last penny of PERC. We believe it represents a new thinking trying to set LONGi apart of the old investment logic.


[Blue Lotus Sector Update]: In Solar PV Winners Go to One Who Count the Pennies

China

LONGi Green Energy Technology Co., Ltd. develops, manufactures and sells silicon rods and silicon wafers. The Company's main products include 6 inch, 6.5 inch and 8 inch monocrystalline silicon rods and wafers.

LONGi Green Energy Technology (601012 CH)

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LONGi Green Energy Technology (601012 CH)

CX Daily: China Concludes Sixth Top Financial Meeting to Tackle New Challenges

Financial meeting / Caixin Explains: China concludes sixth top financial meeting to tackle new challenges China held its twice-a-decade central...

Caixin Global

EM Semiconductors: Positioning Deep Dive

The momentum in Semiconductor positioning witnessed between 2019 and 2021 has stalled. In this report we identifying the funds and the companies...

Steven Holden

[Blue Lotus Sector Update]: Chinese Renewable Energy Comes to Crossroads

China’s firm and consistent renewable policy and a unified energy vision have been its strength, But now have developed a few inconsistencies.

Blue Lotus Research Institute

China TMT Update-NIO/LI/XPEV/BYD/TSLA/Solar Power-All-New EC6/China Automotive Delivery Data

Gloated inventory in solar panel led to price collapse in Europe（/）；NIO/LI: NIO to launch the all-new EC6 on Friday (+/-)；BYD/TSLA/LI/XPEV/NIO:...

Blue Lotus Research Institute

[Blue Lotus Sector Update]: In Solar PV Winners Go to One Who Count the Pennies

LONGi’s strategy is far from simply squeeze out the last penny of PERC. We believe it represents a new thinking trying to set LONGi apart of the...

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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