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.

Equity Bottom-Up

<ul><li>Large unmet demand for cancer screening in China.</li><li>China is one of the countries with the heaviest cancer burden worldwide and a poorer prognosis.</li><li>Early screening is an effective way to improve the cancer survival rate.</li></ul><p><em>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.</em></p>

Large unmet demand for cancer screening in China.China is one of the countries with the heaviest cancer burden worldwide and a poorer prognosis.Early screening is an effective way to improve the cancer survival rate.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.

NH Health (6606 HK) – Pioneer in China’s cancer screening market

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 the weekly Hong Kong Connect flows with our data engine for holding position as of July 7th.</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 analyzed southbound Hong Kong connect flows in the past week and highlight flows for  China Mobile, ICBC, ABC, Tencent, HSBC, BYD.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 7th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We analyzed southbound Hong Kong connect flows in the past week and highlight flows for  China Mobile, ICBC, ABC, Tencent, HSBC, BYD.


Hong Kong Connect Flows (Jul 7th): China Mobile, ICBC, ABC, Tencent, HSBC, BYD

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

<ul>
<li>New Horizon Health (NHH) achieved high performance growth last year. However, we recommend investors take a calm and objective view of NHH's current high growth rate if they see the real story.</li>
<li>NHH’s dual attributes of medical+consumption means large growth potential/strong profitability. Thus, the real expectation for NHH is not just about achieving breakeven, but more about how to achieve high profitablity.</li>
<li>If market education level falls short of expectations in the future, it’s difficult for NHH to achieve expected scale/profit margin. There would be greater valuation downward risk at that time.</li>
</ul>


New Horizon Health (NHH) achieved high performance growth last year. However, we recommend investors take a calm and objective view of NHH's current high growth rate if they see the real story.
NHH’s dual attributes of medical+consumption means large growth potential/strong profitability. Thus, the real expectation for NHH is not just about achieving breakeven, but more about how to achieve high profitablity.
If market education level falls short of expectations in the future, it’s difficult for NHH to achieve expected scale/profit margin. There would be greater valuation downward risk at that time.


New Horizon Health (6606.HK) - What Makes a Really Good Story? Definitely Not Just Breakeven

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of May 25th.</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, China Mobile, Li Ning, China Construction Bank.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of May 25th.
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, China Mobile, Li Ning, China Construction Bank.


Hong Kong Connect Flows (May 25th): Tencent, China Mobile, Li Ning, China Construction Bank

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 28th.</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 estimate the inflows to be USD 201m and highlight flows for Meituan, China Construction Bank.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 28th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We estimate the inflows to be USD 201m and highlight flows for Meituan, China Construction Bank.


Hong Kong Connect Flows (Apr 28th): Meituan, China Construction Bank

China

New Horizon Health Limited is a China-based investment holding company focused on early cancer screening and in-home testing, with an emphasis on colorectal, gastric, and cervical cancers. Its key products include ColoClear and Pupu Tube. The company was founded in 2015 and is headquartered in Hangzhou, China.

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New Horizon Health (6YZ GR)

NH Health (6606 HK) – Pioneer in China’s cancer screening market

Large unmet demand for cancer screening in China. China is one of the countries with the heaviest cancer burden worldwide and a poorer prognosis.

CMB International

Hong Kong Connect Flows (Jul 7th): China Mobile, ICBC, ABC, Tencent, HSBC, BYD

We analyzed the Hong Kong Connect Scheme for last week and highlight flows for China Mobile, ICBC, ABC, Tencent, HSBC, BYD.

Ke Yan, CFA, FRM

New Horizon Health (6606.HK) - What Makes a Really Good Story? Definitely Not Just Breakeven

If New Horizon Health wants to tell a good story, the key lies in how to achieve high profitability/large scale, not breakeven. Investors are...

Xinyao (Criss) Wang

Hong Kong Connect Flows (May 25th): Tencent, China Mobile, Li Ning, China Construction Bank

We analyzed the Hong Kong Connect Scheme for last week and highlight flows for Tencent, China Mobile, Li Ning, China Construction Bank。

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Apr 28th): Meituan, China Construction Bank

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Meituan, China Construction Bank.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)