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

<ul>
<li>Beneunder Limited (BL) aims to raise around US$500m in its Hong Kong IPO.</li>
<li>According to CIC, it was the largest sunprotection apparel brand in China in terms of both total retail sales value and online retail sales value with 5.0% and 12.9% marketshare. </li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>


Beneunder Limited (BL) aims to raise around US$500m in its Hong Kong IPO.
According to CIC, it was the largest sunprotection apparel brand in China in terms of both total retail sales value and online retail sales value with 5.0% and 12.9% marketshare. 
In this note, we will talk about the positive aspects of the deal.


Beneunder Pre-IPO - The Positives - Basking in the Sun

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Feb 25 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 China Gas (384 HK), China Mobile (941 HK), Pop Mart (9992 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were China Mobile (941 HK), China Gas (384 HK), Kingdee (268 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Feb 25 based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were China Gas (384 HK), China Mobile (941 HK), Pop Mart (9992 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were China Mobile (941 HK), China Gas (384 HK), Kingdee (268 HK).


Hong Kong Buybacks: China Gas, China Mobile, Pop Mart

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine.</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 note Chinese were buying Tencent before the result and inflows into Pop Mart were strong.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We note Chinese were buying Tencent before the result and inflows into Pop Mart were strong.


Hong Kong Connect Flows: Chinese Buying Tencent Before Results

In our weekly HK Connect Flow series, we aim to highlight key stocks and sectors which the mainland investors traded via the southbound Hong Kong Connect, as analyzed by our proprietary data engine.Since the opening of Hong Kong Connect scheme in 2014, southbound Chinese money started to play an increasingly important role in the Hong Kong stock market. In 2020, Southbound trading accounted for 22% of the equity market ADT. We split the stocks eligible for the Hong Kong Connect trade into three groups: HSCEI component stocks, stocks with a market capitalization between USD 1 billion and USD 5 billion, and stocks with a market capitalization between USD 500 million and USD 1 billion.In this insight, we will highlight inflows into Pop Mart International Group Limited (9992 HK), Great Wall Motor Company Limited (2333 HK), Byd Company Limited (1211 HK), as well as outflows from Gcl-Poly Energy Holdings Limited (3800 HK), and Xiaomi Corporation (1810 HK).

In our weekly HK Connect Flow series, we aim to highlight key stocks and sectors which the mainland investors traded via the southbound Hong Kong Connect, as analyzed by our proprietary data engine.Since the opening of Hong Kong Connect scheme in 2014, southbound Chinese money started to play an increasingly important role in the Hong Kong stock market. In 2020, Southbound trading accounted for 22% of the equity market ADT. We split the stocks eligible for the Hong Kong Connect trade into three groups: HSCEI component stocks, stocks with a market capitalization between USD 1 billion and USD 5 billion, and stocks with a market capitalization between USD 500 million and USD 1 billion.In this insight, we will highlight inflows into Pop Mart International Group Limited (9992 HK), Great Wall Motor Company Limited (2333 HK), Byd Company Limited (1211 HK), as well as outflows from Gcl-Poly Energy Holdings Limited (3800 HK), and Xiaomi Corporation (1810 HK).

Hong Kong Connect Flows: Southbound Selling on GCL Poly upon Trading Resumption

Hong Kong SFC reported aggregate short position as of Aug 20. The aggregate short value for equities decreased by $-4,182m (-6.1%) WoW and decreased by $4,188m (-6.1%) over the preceding four weeks. Most shorted stocks by aggregate short value of positions are Ping An Insurance (Group) Company Of China, Ltd./2318 HK($4,519m, -5.9% WoW), China Merchants Bank Co., Ltd./3968 HK($2,233m, -1.4% WoW), Zhongsheng Group Holdings Limited/881 HK($1,868m, -10.3% WoW), Anta Sports Products Limited/2020 HK($1,667m, -0.2% WoW), Tencent Holdings Limited/700 HK($1,505m, -16.5% WoW).

Hong Kong SFC reported aggregate short position as of Aug 20. The aggregate short value for equities decreased by $-4,182m (-6.1%) WoW and decreased by $4,188m (-6.1%) over the preceding four weeks.  Most shorted stocks by aggregate short value of positions are Ping An Insurance (Group) Company Of China, Ltd./2318 HK($4,519m, -5.9% WoW), China Merchants Bank Co., Ltd./3968 HK($2,233m, -1.4% WoW), Zhongsheng Group Holdings Limited/881 HK($1,868m, -10.3% WoW), Anta Sports Products Limited/2020 HK($1,667m, -0.2% WoW), Tencent Holdings Limited/700 HK($1,505m, -16.5% WoW).

HK Short Interest: Short Increased in Xiaomi, Pop Mart and Cansino

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.

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Pop Mart International Group L (9992 HK)

Beneunder Pre-IPO - The Positives - Basking in the Sun

Beneunder Limited aims to raise around US$500m in its Hong Kong IPO. Sales have grown 6x over FY19-21. In this note, we talk about the positive...

Sumeet Singh

Hong Kong Buybacks: China Gas, China Mobile, Pop Mart

We highlight the top 3 companies that repurchased the most shares in HK in the past week were China Gas (384 HK), China Mobile (941 HK), Pop Mart...

Ke Yan, CFA, FRM

Hong Kong Connect Flows: Chinese Buying Tencent Before Results

We highlight inflows into Tencent (700 HK), Pop Mart (9992 HK), Kuaishou (1024 HK), as well as outflows from Wuxi Biologics (Cayman) Inc. (2269 HK).

Ke Yan, CFA, FRM

Hong Kong Connect Flows: Southbound Selling on GCL Poly upon Trading Resumption

We highlight weekly Hong Kong Connect inflows into Pop Mart (9992 HK), Great Wall Motor(2333 HK), Byd (1211 HK), and outflows from Gcl-Poly (3800...

Ke Yan, CFA, FRM

HK Short Interest: Short Increased in Xiaomi, Pop Mart and Cansino

We highlight week-on-week short interest Increased in Xiaomi, Pop Mart and Cansino based on the latest Hong Kong SFC aggregate short interest report.

Ke Yan, CFA, FRM

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