Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

Thematic (Sector/Industry)

<ul>
<li>The Global Emerging Markets Weekly provides a summary of the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.</li>
<li>
 Macro data points:China PMI data, South Korean interest rates and economic activity data, India GDP growth.</li>
<li>
 Companies mentioned:<a href="https://www.smartkarma.com/entities/beijing-douyin-information-service-co-ltd-bytedance" target="_blank" data-smartkarma-citation="entities:27936:1" rel="noopener">ByteDance (1439927D CH)</a>, <a href="https://www.smartkarma.com/entities/nio-inc-2d526675-c878-4104-840f-87fed1735e85" target="_blank" data-smartkarma-citation="entities:35652:1" rel="noopener">NIO (9866 HK)</a>, <a href="https://www.smartkarma.com/entities/geely-automobile-holdings-ltd" target="_blank" data-smartkarma-citation="entities:127:1" rel="noopener">Geely Auto (175 HK)</a>, <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd-d7b798e2-202d-4e01-9a1e-799e2ae8f0c7" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group Holding (9988 HK)</a>
</li>
</ul>


The Global Emerging Markets Weekly provides a summary of the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.

 Macro data points:China PMI data, South Korean interest rates and economic activity data, India GDP growth.

 Companies mentioned:ByteDance (1439927D CH), NIO (9866 HK), Geely Auto (175 HK), Alibaba Group Holding (9988 HK)



GEMWeekly (1 Dec 2023): China, South Korea, India Macro; ByteDance, NIO, Geely, Alibaba

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>Eleven Chinese automakers including BYD, Great Wall, NIO, Xpeng, Li Auto, Zeekr, Aion, Deepal, Neta, Leap and Aito reported their Oct 2023 sales volumes on 1 Nov 2023.</li><li>Sales volume of the 11 automakers combined rose 54% YoY (ranging from -33% to +302%) and 6% MoM (ranging from -20% to 112%) in Oct.</li><li>Seven out of the 11 automakers posted their all-time high sales volume in Oct.</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.

Eleven Chinese automakers including BYD, Great Wall, NIO, Xpeng, Li Auto, Zeekr, Aion, Deepal, Neta, Leap and Aito reported their Oct 2023 sales volumes on 1 Nov 2023.Sales volume of the 11 automakers combined rose 54% YoY (ranging from -33% to +302%) and 6% MoM (ranging from -20% to 112%) in Oct.Seven out of the 11 automakers posted their all-time high sales volume in Oct.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 Auto Sector – NEV sales push at month-end leads to Oct beat

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

Qingtao KUNSHAN ENERGY DEVELOPMENT / Equity Capital Markets

Qingtao KUNSHAN ENERGY DEVELOPMENT (2648330D HK)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/qingtao-kunshan-energy-development" target="_blank" data-smartkarma-citation="entities:48116:1" rel="noopener">Qingtao KUNSHAN ENERGY DEVELOPMENT</a> (QEDG) plans to raise around US$900m in its upcoming Hong Kong IPO.</li>
<li>QEDG manufactures solid-liquid hybrid and all solid-state batteries for electric vehicle (EV) and energy storage system (ESS) applications.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Qingtao KUNSHAN ENERGY DEVELOPMENT (QEDG) plans to raise around US$900m in its upcoming Hong Kong IPO.
QEDG manufactures solid-liquid hybrid and all solid-state batteries for electric vehicle (EV) and energy storage system (ESS) applications.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Aequitas: Qingtao Energy Development Group Pre-IPO - Solid Lead but Others Planning to Enter

<ul><li>Eleven Chinese automakers including BYD, Great Wall Motor, NIO, Xpeng, Li Auto, Zeekr, Aion, Deepal, Aito, Neta and Leap reported their Aug 2023 sales volumes on 1 Sep 2023.</li><li>Sales volume of the 11 automakers combined rose 68% YoY (ranged from -50% to +1,218%) and 5% MoM (ranged from -9% to +24%) in Aug 2023.</li><li>NEV trio largely in line. Li Auto’s recorded a sales volume of almost 35,000 units in Aug 2023, with all three models surpassing 10,000 units. </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.

Eleven Chinese automakers including BYD, Great Wall Motor, NIO, Xpeng, Li Auto, Zeekr, Aion, Deepal, Aito, Neta and Leap reported their Aug 2023 sales volumes on 1 Sep 2023.Sales volume of the 11 automakers combined rose 68% YoY (ranged from -50% to +1,218%) and 5% MoM (ranged from -9% to +24%) in Aug 2023.NEV trio largely in line. Li Auto’s recorded a sales volume of almost 35,000 units in Aug 2023, with all three models surpassing 10,000 units. 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 Auto Sector – In-line Aug NEV retail sales volume

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>Law /In Depth: Why fewer criminal appeals cases are getting heard in China</li><li>BRICS /: BRICS invites six nations to join as expansion moves into focus</li><li>Nuclear /: China suspends imports of all Japanese aquatic products</li></ul>

Law /In Depth: Why fewer criminal appeals cases are getting heard in ChinaBRICS /: BRICS invites six nations to join as expansion moves into focusNuclear /: China suspends imports of all Japanese aquatic products

CX Daily: Why Fewer Criminal Appeals Cases Are Getting Heard in China

China

NIO designs, develops, manufactures, and sells smart electric vehicles, including sedans and SUVs under its NIO, ONVO, and FIREFLY brands. The company also offers innovative power solutions such as battery swapping services and various charging options. NIO was founded in November 2014 and is headquartered in Shanghai, China.

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NIO (9866 HK)

GEMWeekly (1 Dec 2023): China, South Korea, India Macro; ByteDance, NIO, Geely, Alibaba

The Global Emerging Markets Weekly provides a summary of the key news and related developments impacting the largest countries and constituents of...

Wium Malan, CFA

China Auto Sector – NEV sales push at month-end leads to Oct beat

Eleven Chinese automakers including BYD, Great Wall, NIO, Xpeng, Li Auto, Zeekr, Aion, Deepal, Neta, Leap and Aito reported their Oct 2023 sales...

CMB International

Aequitas: Qingtao Energy Development Group Pre-IPO - Solid Lead but Others Planning to Enter

Qingtao Kunshan Energy Development (QEDG) plans to raise around US$900m in its upcoming Hong Kong IPO. In this note, we look at the company's past...

Sumeet Singh

China Auto Sector – In-line Aug NEV retail sales volume

Eleven Chinese automakers including BYD, Great Wall Motor, NIO, Xpeng, Li Auto, Zeekr, Aion, Deepal, Aito, Neta and Leap reported their Aug 2023...

CMB International

CX Daily: Why Fewer Criminal Appeals Cases Are Getting Heard in China

Law /In Depth: Why fewer criminal appeals cases are getting heard in China BRICS /: BRICS invites six nations to join as expansion moves into...

Caixin Global

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