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 October 31st.</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 CNOOC, SMIC, Alibaba, China Mobile, CSPC Pharma, Tencent, Meituan, Li Auto.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 31st.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for CNOOC, SMIC, Alibaba, China Mobile, CSPC Pharma, Tencent, Meituan, Li Auto.


HK Connect Flows Weekly (Oct 31st): CNOOC, SMIC, Alibaba, China Mobile, CSPC Pharma, Tencent

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 24th.</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 Alibaba, CNOOC, Pop Mart Intl, Duality Biotherapeutics, China Mobile, Meituan, SMIC, Laopu Gold.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 24th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Alibaba, CNOOC, Pop Mart Intl, Duality Biotherapeutics, China Mobile, Meituan, SMIC, Laopu Gold.


HK Connect Flows Weekly (Oct 24th): Alibaba, CNOOC, Pop Mart Intl, Duality Biotherapeutics

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.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/china-resources-beverage" target="_blank" data-smartkarma-citation="entities:41984:1" rel="noopener">China Resources Beverage (2460 HK)</a> (CRB) raised around US$750m in its Hong Kong IPO in October 2024. The lockup on its PE investor is set to expire soon.</li>
<li>China Resources Beverage manufactures and sells packaged drinking water and RTD soft beverages in China and is one of the largest players in its categories.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



China Resources Beverage (2460 HK) (CRB) raised around US$750m in its Hong Kong IPO in October 2024. The lockup on its PE investor is set to expire soon.
China Resources Beverage manufactures and sells packaged drinking water and RTD soft beverages in China and is one of the largest players in its categories.
In this note, we will talk about the lockup dynamics and possible placement.


China Resources Beverage IPO Lockup - US$1bn+ PE Release

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 17th.</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 SMIC, Alibaba, Xiaomi, Tencent, Pop Mart Intl, China Mobile, Meituan, Innovent Biologics, ICBC, Wuxi Biologics.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 17th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for SMIC, Alibaba, Xiaomi, Tencent, Pop Mart Intl, China Mobile, Meituan, Innovent Biologics, ICBC, Wuxi Biologics.


HK Connect Flows Weekly (Oct 17th): SMIC, Alibaba, Xiaomi, Tencent, Pop Mart Intl, China Mobile

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

<ul>
<li>The inflection point of the policy on medical device is expected to appear this year. High-end imaging, medical robots, AI, and biomaterials are the four fields worth investors’ attention.</li>
<li>WuXi XDC announced Placement to raise HK$1.3 billion net proceeds at HK$58.85/share.XDC will have &gt;30% YoY growth in 2025-2027 but Li Ge/WuXi AppTec’s reduction of holdings is a discordant voice.</li>
<li>MIXUE’s lock-up of shares allotted to cornerstone investors expired. Current valuation is acceptable based on 2025 forecast, but investors need more 'safety margins' on valuation due to concerns on outlook</li>
</ul>


The inflection point of the policy on medical device is expected to appear this year. High-end imaging, medical robots, AI, and biomaterials are the four fields worth investors’ attention.
WuXi XDC announced Placement to raise HK$1.3 billion net proceeds at HK$58.85/share.XDC will have &gt;30% YoY growth in 2025-2027 but Li Ge/WuXi AppTec’s reduction of holdings is a discordant voice.
MIXUE’s lock-up of shares allotted to cornerstone investors expired. Current valuation is acceptable based on 2025 forecast, but investors need more 'safety margins' on valuation due to concerns on outlook


China Healthcare Weekly (Sep.7)- Device Inflection Point, WuXi XDC Placement, MIXUE’s Lock-Up Expiry

China

Nongfu Spring is a leading Chinese company primarily engaged in the production and sale of packaged drinking water and a diverse range of beverages. Its product portfolio includes natural packaged drinking water, ready-to-drink teas, functional beverages, and fruit juices. The company was founded in 1996 and is headquartered in Hangzhou, China.

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Nongfu Spring (9633 HK)

HK Connect Flows Weekly (Oct 31st): CNOOC, SMIC, Alibaba, China Mobile, CSPC Pharma, Tencent

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for CNOOC, SMIC, Alibaba, China Mobile, CSPC Pharma, Tencent,...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Oct 24th): Alibaba, CNOOC, Pop Mart Intl, Duality Biotherapeutics

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, CNOOC, Pop Mart Intl, Duality Biotherapeutics,...

Ke Yan, CFA, FRM

China Resources Beverage IPO Lockup - US$1bn+ PE Release

China Resources Beverage (2460 HK) (CRB) raised around US$750m in its Hong Kong IPO in October 2024. The lockup on its PE investor is set to expire...

Sumeet Singh

HK Connect Flows Weekly (Oct 17th): SMIC, Alibaba, Xiaomi, Tencent, Pop Mart Intl, China Mobile

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for SMIC (981 HK), Alibaba (9988 HK), Xiaomi (1810 HK),...

Ke Yan, CFA, FRM

China Healthcare Weekly (Sep.7)- Device Inflection Point, WuXi XDC Placement, MIXUE’s Lock-Up Expiry

The inflection point of medical device will appear this year. WuXi XDC launched Placement, but shareholders' reduction of holdings is a discordant...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)