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

Shenton Research

Shenton 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 analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 81.4% as of Aug 28th.</li>
<li>The average A-H premium changed by 1.6ppt week-on-week, led by consumer discretionary, energy, real estate and offset by utilities, financials.</li>
<li>We highlight weekly changes in A-H premium for Gwmotor, China Mobile, Remegen, Fuyao Glass, Minsheng Bank.</li>
</ul>


We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 81.4% as of Aug 28th.
The average A-H premium changed by 1.6ppt week-on-week, led by consumer discretionary, energy, real estate and offset by utilities, financials.
We highlight weekly changes in A-H premium for Gwmotor, China Mobile, Remegen, Fuyao Glass, Minsheng Bank.


A-H Premium Weekly (Aug 28th): Gwmotor, China Mobile, Remegen, Fuyao Glass, Minsheng Bank

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/seed-co-ltd-tokyo" target="_blank" data-smartkarma-citation="entities:15534:1" rel="noopener">Seed Co Ltd/Tokyo (7743 JP)</a> announced a tender offer from <a href="https://www.smartkarma.com/entities/luxshare-precision-industry-co-ltd-3f59eaa1-da7f-4d9b-add0-c8efccfee0d5" target="_blank" data-smartkarma-citation="entities:50296:1" rel="noopener">Luxshare Precision Industry (2475 HK)</a> at JPY795, a 48.6% premium to the last close of JPY535.  </li>
<li>Despite the lack of an auction, the offer is above the midpoint of the IFA’s DCF valuation range and is attractive compared to historical trading ranges.</li>
<li>The required minority acceptance rate to meet the lower limit is not onerous. This is a done deal. The offer closes on 13 October.  </li>
</ul>



Seed Co Ltd/Tokyo (7743 JP) announced a tender offer from Luxshare Precision Industry (2475 HK) at JPY795, a 48.6% premium to the last close of JPY535.  
Despite the lack of an auction, the offer is above the midpoint of the IFA’s DCF valuation range and is attractive compared to historical trading ranges.
The required minority acceptance rate to meet the lower limit is not onerous. This is a done deal. The offer closes on 13 October.  


Seed (7743 JP): Luxshare (2475 HK)’s Tender Offer at JPY795

<ul>
<li>We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 79.8% as of Aug 21st.</li>
<li>The average A-H premium changed by -3.0ppt week-on-week, led by communication services, utilities, health care.</li>
<li>We highlight weekly changes in A-H premium for Smic, China South Air, Gtht, Yankuang Energy, China Telecom, Haier Smarthome.</li>
</ul>


We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 79.8% as of Aug 21st.
The average A-H premium changed by -3.0ppt week-on-week, led by communication services, utilities, health care.
We highlight weekly changes in A-H premium for Smic, China South Air, Gtht, Yankuang Energy, China Telecom, Haier Smarthome.


A-H Premium Weekly (Aug 21st): Smic, China South Air, Gtht, Yankuang Energy, China Telecom

<ul>
<li>We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 82.7% as of Aug 14th.</li>
<li>The average A-H premium changed by 1.0ppt week-on-week, led by consumer staples, health care, materials and offset by information technology, energy, real estate.</li>
<li>We highlight weekly changes in A-H premium for Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare Ict, China Telecom.</li>
</ul>


We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 82.7% as of Aug 14th.
The average A-H premium changed by 1.0ppt week-on-week, led by consumer staples, health care, materials and offset by information technology, energy, real estate.
We highlight weekly changes in A-H premium for Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare Ict, China Telecom.


A-H Premium Weekly (Aug 14th): Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare Ict

<ul>
<li>We analyzed the changes in margin trading positions of A-share stocks as of Aug 7th. The aggregated net margin trading position is USD352,973m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in Yangtze Power, Wuliangye, Mindray, VICTORY GIANT TECHNOLOGY (HUIZHOU), BYD.</li>
</ul>


We analyzed the changes in margin trading positions of A-share stocks as of Aug 7th. The aggregated net margin trading position is USD352,973m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in Yangtze Power, Wuliangye, Mindray, VICTORY GIANT TECHNOLOGY (HUIZHOU), BYD.


A-Share Margin Trading Weekly (Aug 7th): Yangtze Power, Wuliangye, Mindray, BYD

China

Luxshare Precision Industry Co., Ltd. researches, manufactures and sells connectors. The Company's products are widely used in computers, communication devices, consumer electronics products and automobiles.

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

Luxshare Precision Industry (002475 CH)

A-H Premium Weekly (Aug 28th): Gwmotor, China Mobile, Remegen, Fuyao Glass, Minsheng Bank

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Gwmotor, China Mobile, Remegen, Fuyao Glass, Minsheng Bank.

Ke Yan, CFA, FRM

Seed (7743 JP): Luxshare (2475 HK)’s Tender Offer at JPY795

Despite the lack of an auction, the offer is above the midpoint of the IFA’s DCF valuation range and is attractive compared to historical trading...

Arun George

A-H Premium Weekly (Aug 21st): Smic, China South Air, Gtht, Yankuang Energy, China Telecom

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Smic, China South Air, Gtht, Yankuang Energy, China Telecom,...

Ke Yan, CFA, FRM

A-H Premium Weekly (Aug 14th): Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare Ict

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

A-H Premium Weekly (Aug 28th): Gwmotor, China Mobile, Remegen, Fuyao Glass, Minsheng Bank

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Gwmotor, China Mobile, Remegen, Fuyao Glass, Minsheng Bank.

Ke Yan, CFA, FRM

Seed (7743 JP): Luxshare (2475 HK)’s Tender Offer at JPY795

Despite the lack of an auction, the offer is above the midpoint of the IFA’s DCF valuation range and is attractive compared to historical trading...

Arun George

A-H Premium Weekly (Aug 21st): Smic, China South Air, Gtht, Yankuang Energy, China Telecom

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Smic, China South Air, Gtht, Yankuang Energy, China Telecom,...

Ke Yan, CFA, FRM

A-H Premium Weekly (Aug 14th): Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare Ict

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare...

Ke Yan, CFA, FRM

A-Share Margin Trading Weekly (Aug 7th): Yangtze Power, Wuliangye, Mindray, BYD

We analyzed A-share margin trading positions report for the past week and highlighted Yangtze Power, Wuliangye, Mindray, VICTORY GIANT TECHNOLOGY...

Ke Yan, CFA, FRM