Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Equity Derivatives

<ul>
<li>Busy news week with trade and deal headlines taking center stage.</li>
<li>Stock have been treading water aside from the Materials Sector with breadth reversing from last week’s rebound.</li>
<li>The thick of earnings season is past with only 15 companies reporting in the next week.</li>
</ul>


Busy news week with trade and deal headlines taking center stage.
Stock have been treading water aside from the Materials Sector with breadth reversing from last week’s rebound.
The thick of earnings season is past with only 15 companies reporting in the next week.


Hong Kong Single Stock Options Weekly (Oct 27 – 31): Market Cools After Busy News Week

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

52TOYS Development / Equity Capital Markets

<ul>
<li>52TOYS Development, a Beijing-based multi-genre IP toy company, is seeking Hong Kong IPO that would raise up to $200M.</li>
<li>Founded in 2012 by Mr. Chen and Mr. Huang, 52TOYS positions itself as a toymaker with a strong emphasis on collectible mecha and sci-fi aesthetics.</li>
<li>52TOYS has made a big push online and in overseas markets. I believe the company has primary growth drivers such as international expansion and new licensed and proprietary IP products.</li>
</ul>


52TOYS Development, a Beijing-based multi-genre IP toy company, is seeking Hong Kong IPO that would raise up to $200M.
Founded in 2012 by Mr. Chen and Mr. Huang, 52TOYS positions itself as a toymaker with a strong emphasis on collectible mecha and sci-fi aesthetics.
52TOYS has made a big push online and in overseas markets. I believe the company has primary growth drivers such as international expansion and new licensed and proprietary IP products.


52TOYS Development IPO Preview: A “Must Own” Stock, Big Push In Overseas Markets Looks Promising

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 analysed the earning revision of component stocks of HSCEI in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Pop Mart Intl, MEITUAN, JD Health, China Life, JD.COM, PING AN INSURANCE, China Life, Ping An, Pop Mart, Meituan, Jd, Jd Health.</li>
</ul>


We analysed the earning revision of component stocks of HSCEI in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Pop Mart Intl, MEITUAN, JD Health, China Life, JD.COM, PING AN INSURANCE, China Life, Ping An, Pop Mart, Meituan, Jd, Jd Health.


HSCEI Index Earning Revision (Oct): Pop Mart Intl, MEITUAN, JD Health, China Life, JD.COM

<ul>
<li>We analysed the earning revision of component stocks of HSI in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Pop Mart Intl, WUXI APPTEC, MEITUAN, PING AN INSURANCE, JD.COM, China Life, China Life, Ping An, Pop Mart, Meituan, Jd, Wuxi Apptec.</li>
</ul>


We analysed the earning revision of component stocks of HSI in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Pop Mart Intl, WUXI APPTEC, MEITUAN, PING AN INSURANCE, JD.COM, China Life, China Life, Ping An, Pop Mart, Meituan, Jd, Wuxi Apptec.


HSI Index Earning Revision (Oct): Pop Mart Intl, WUXI APPTEC, MEITUAN, PING AN INSURANCE, JD.COM

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Guangzhou Automobile Group / Event-Driven

<ul>
<li>Gross SOUTHBOUND volumes just over US$21bn a day two weeks ago as markets fell sharply. About two-thirds that this past week as indices rebounded. High-div SOEs seeing buying demand.</li>
<li>The recommended name was short <a href="https://www.smartkarma.com/entities/fuyao-glass-industry-group-co-ltd" target="_blank" data-smartkarma-citation="entities:330:1" rel="noopener">Fuyao Glass Industry Group (3606 HK)</a>. The stock was -4.9% over two weeks, but the H outperformed its A by 0.55%.</li>
<li>The data tables below update on a daily basis in the <a href="https://www.smartkarma.com/tools" target="_blank" rel="noopener">Tools</a> section of Smartkarma. The <a href="https://www.smartkarma.com/tools/quiddity/south-flow-monitor" target="_blank" rel="noopener">Southbound Flow Monitor</a> and <a href="https://www.smartkarma.com/tools/quiddity/ah-shares-monitor" target="_blank" rel="noopener">AH Pairs Monitor</a> are both there - free - for all SK readers.</li>
</ul>


Gross SOUTHBOUND volumes just over US$21bn a day two weeks ago as markets fell sharply. About two-thirds that this past week as indices rebounded. High-div SOEs seeing buying demand.
The recommended name was short Fuyao Glass Industry Group (3606 HK). The stock was -4.9% over two weeks, but the H outperformed its A by 0.55%.
The data tables below update on a daily basis in the Tools section of Smartkarma. The Southbound Flow Monitor and AH Pairs Monitor are both there - free - for all SK readers.


HK Connect SOUTHBOUND Flows (2wks To 24 Oct 2025); Big Flows on Downdraft, Lower Flows on Rebound

China

Pop Mart International Group Limited operates as a toys wholesales company. The Company provides trendy toys designing, production, marketing, and other services. Pop Mart International Group markets its products worldwide.

Price Gauge
52-week Range	0.00 - 0.00
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Pop Mart (9992 HK)

Hong Kong Single Stock Options Weekly (Oct 27 – 31): Market Cools After Busy News Week

Busy news week with trade and deal headlines dominating, stock market mostly stagnant except for Materials Sector, earnings season winding down.

John Ley

52TOYS Development IPO Preview: A “Must Own” Stock, Big Push In Overseas Markets Looks Promising

Beijing-based 52TOYS Development filed to go public in Hong Kong. I like the toymaker's diversified IP product portfolio, scalable business model...

Andrei Zakharov

HSCEI Index Earning Revision (Oct): Pop Mart Intl, MEITUAN, JD Health, China Life, JD.COM

We analyzed HSCEI's consensus for Oct 2025 and highlighted changes of EPS in Pop Mart Intl (9992 HK), MEITUAN (3690 HK), JD Health (6618 HK), China...

Ke Yan, CFA, FRM

HSI Index Earning Revision (Oct): Pop Mart Intl, WUXI APPTEC, MEITUAN, PING AN INSURANCE, JD.COM

We analyzed HSI's consensus for Oct 2025 and highlighted changes of EPS in Pop Mart Intl (9992 HK), WUXI APPTEC (2359 HK), MEITUAN (3690 HK), PING...

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (2wks To 24 Oct 2025); Big Flows on Downdraft, Lower Flows on Rebound

SOUTHBOUND volumes remain high. Higher in the downdraft than this past week's rebound, but still generically high. Net flows remain consistent even...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Single Stock Options Weekly (Oct 27 – 31): Market Cools After Busy News Week

​Busy news week with trade and deal headlines dominating, stock market mostly stagnant except for Materials Sector, earnings season winding down.

John Ley

52TOYS Development IPO Preview: A “Must Own” Stock, Big Push In Overseas Markets Looks Promising

​Beijing-based 52TOYS Development filed to go public in Hong Kong. I like the toymaker's diversified IP product portfolio, scalable business model...

Andrei Zakharov

HSCEI Index Earning Revision (Oct): Pop Mart Intl, MEITUAN, JD Health, China Life, JD.COM

We analyzed HSCEI's consensus for Oct 2025 and highlighted changes of EPS in Pop Mart Intl (9992 HK), MEITUAN (3690 HK), JD Health (6618 HK), China...

Ke Yan, CFA, FRM

HSI Index Earning Revision (Oct): Pop Mart Intl, WUXI APPTEC, MEITUAN, PING AN INSURANCE, JD.COM

We analyzed HSI's consensus for Oct 2025 and highlighted changes of EPS in Pop Mart Intl (9992 HK), WUXI APPTEC (2359 HK), MEITUAN (3690 HK), PING...

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (2wks To 24 Oct 2025); Big Flows on Downdraft, Lower Flows on Rebound

SOUTHBOUND volumes remain high. Higher in the downdraft than this past week's rebound, but still generically high. Net flows remain consistent even...

Travis Lundy

Busy news week with trade and deal headlines dominating, stock market mostly stagnant except for Materials Sector, earnings season winding down.

Beijing-based 52TOYS Development filed to go public in Hong Kong. I like the toymaker's diversified IP product portfolio, scalable business model...