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 statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 13th 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 Tencent (700 HK), AIA (1299 HK), Guoquan Food (2517 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Bilibili (9626 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 13th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Guoquan Food (2517 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Bilibili (9626 HK).


Hong Kong Buybacks Weekly (Jun 13th): Tencent, AIA, Guoquan Food

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

Thematic (Sector/Industry)

<ul>
<li>We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology</li>
<li>Portfolio changes: All fourteen stocks have changed in the portfolio</li>
<li>Since its inception, it has generated a before-fee total return of 262% versus the MSCI Asia ex Japan of 110%</li>
</ul>


We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology
Portfolio changes: All fourteen stocks have changed in the portfolio
Since its inception, it has generated a before-fee total return of 262% versus the MSCI Asia ex Japan of 110%


Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

Anjoy Foods Group   / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/anjoy-foods-group-co-ltd" target="_blank" data-smartkarma-citation="entities:30110:1" rel="noopener">Anjoy Foods Group (603345 CH)</a>, a quick-frozen food company in China, aims to raise around US$300m in its H-share listing.</li>
<li>AFG was the largest quick-frozen food company in China in terms of revenue in 2023, with a market share of 6.2%, according to the Frost &amp; Sullivan report. </li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Anjoy Foods Group (603345 CH), a quick-frozen food company in China, aims to raise around US$300m in its H-share listing.
AFG was the largest quick-frozen food company in China in terms of revenue in 2023, with a market share of 6.2%, according to the Frost &amp; Sullivan report. 
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Anjoy Foods Group A/H Listing - A Leader in a Fragmented Industry

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>There are 5 constituent changes for the CSI Hong Kong Connect Internet Index in June. Plus there are capping changes for some stocks.</li>
<li>A lot of the adds have moved significantly in the last couple of days, so the impact over the next couple of days will be smaller.</li>
<li>There could be opportunities to trade the reversion strategy. Getting borrow may not be easy on some names.</li>
</ul>


There are 5 constituent changes for the CSI Hong Kong Connect Internet Index in June. Plus there are capping changes for some stocks.
A lot of the adds have moved significantly in the last couple of days, so the impact over the next couple of days will be smaller.
There could be opportunities to trade the reversion strategy. Getting borrow may not be easy on some names.


CSI Hong Kong Connect Internet Index Rebalance: 10 Changes & Big Impact

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>
Discover sophisticated, live, multi-leg options strategies on <a href="https://www.smartkarma.com/entities/jd-com-inc" target="_blank" data-smartkarma-citation="entities:29043:1" rel="noopener">JD.com (9618 HK)</a>, executed over the period from 4 June to 10 June on the HKEX</li>
<li>
Highlights: A range of noteworthy strategies, including a deep in-the-money, three-months Diagonal Call Spread and an ultra-low-cost, one-week Calendar Put Spread, highlighting diverse approaches to capitalize on market movements.</li>
<li>
Why read: This breakdown of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies,</li>
</ul>



Discover sophisticated, live, multi-leg options strategies on JD.com (9618 HK), executed over the period from 4 June to 10 June on the HKEX

Highlights: A range of noteworthy strategies, including a deep in-the-money, three-months Diagonal Call Spread and an ultra-low-cost, one-week Calendar Put Spread, highlighting diverse approaches to capitalize on market movements.

Why read: This breakdown of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies,


JD.com (9618 HK): Top Trades and Strategic Insights from HKEX Options Trading

China

Meituan operates as a web based shopping platform for locally found consumer products and retail services. The Company offers deals of the day by selling vouchers on local services and entertainment, dining, delivery, and other services. Meituan provides its services throughout China.

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

Meituan (3690 HK)

Hong Kong Buybacks Weekly (Jun 13th): Tencent, AIA, Guoquan Food

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

The Stocks to Own in Asia – Vol. 49

We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology. Portfolio changes: All 14 stocks have changed.

A. Stotz Investment Research

Anjoy Foods Group A/H Listing - A Leader in a Fragmented Industry

Anjoy Food is now said to be pre-markeing for a US$300m Hong Kong H-share listing. We had looked at the company's past performance in our prior note.

Sumeet Singh

CSI Hong Kong Connect Internet Index Rebalance: 10 Changes & Big Impact

There are 10 constituent changes in June and the flow and impact is pretty large. The adds have outperformed the deletes bigly over the last 2 days...

Brian Freitas

JD.com (9618 HK): Top Trades and Strategic Insights from HKEX Options Trading

Discover live, multi-leg options strategies on JD.com, including Diagonal Spreads and one-day Butterflies, offering insights into market sentiment...

Gaudenz Schneider

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Buybacks Weekly (Jun 13th): Tencent, AIA, Guoquan Food

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

The Stocks to Own in Asia – Vol. 49

We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology. Portfolio changes: All 14 stocks have changed.

A. Stotz Investment Research

Anjoy Foods Group A/H Listing - A Leader in a Fragmented Industry

Anjoy Food is now said to be pre-markeing for a US$300m Hong Kong H-share listing. We had looked at the company's past performance in our prior note.

Sumeet Singh

CSI Hong Kong Connect Internet Index Rebalance: 10 Changes & Big Impact

There are 10 constituent changes in June and the flow and impact is pretty large. The adds have outperformed the deletes bigly over the last 2 days...

Brian Freitas

JD.com (9618 HK): Top Trades and Strategic Insights from HKEX Options Trading

​Discover live, multi-leg options strategies on JD.com, including Diagonal Spreads and one-day Butterflies, offering insights into market sentiment...

Gaudenz Schneider

Discover live, multi-leg options strategies on JD.com, including Diagonal Spreads and one-day Butterflies, offering insights into market sentiment...