Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Shandong Hi-Speed New Energy G / Event-Driven

<ul>
<li>In March 2022, in what was viewed as a bail out, <a href="https://www.smartkarma.com/entities/shandong-hi-speed-new-energy-g" target="_blank" data-smartkarma-citation="entities:6927:1" rel="noopener">Shandong Hi-Speed New Energy (1250 HK)</a> issued shares, equivalent to 43.45% on a diluted basis, to <a href="https://www.smartkarma.com/entities/shandong-hi-speed-holdings-gro" target="_blank" data-smartkarma-citation="entities:10356:1" rel="noopener">Shandong Hi-Speed 412 HK)</a>
</li>
<li>Shandong Hi-Speed was not obliged to launch a mandatory offer after securing a whitewash waiver. Two hand half years later, Shandong Hi-Speed still holds 43.45%. </li>
<li>SDHS New Energy is now suspended pursuant to the Takeovers Code. Shandong Hi-Speed is also suspended. Expect a take-private bid from Shandong Hi-Speed.</li>
</ul>


In March 2022, in what was viewed as a bail out, Shandong Hi-Speed New Energy (1250 HK) issued shares, equivalent to 43.45% on a diluted basis, to Shandong Hi-Speed 412 HK)

Shandong Hi-Speed was not obliged to launch a mandatory offer after securing a whitewash waiver. Two hand half years later, Shandong Hi-Speed still holds 43.45%. 
SDHS New Energy is now suspended pursuant to the Takeovers Code. Shandong Hi-Speed is also suspended. Expect a take-private bid from Shandong Hi-Speed.


Shandong Hi-Speed New Energy (1250 HK): Expect A Delisting Offer

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Equity Bottom-Up

Shanghai Electric Group Company / Equity Bottom-Up

<ul>
<li>Hong Kong markets continue to outperform global equity markets this year outperforming the MSCI Asia Pacific index by a substantial margin.</li>
<li>
<a href="https://www.smartkarma.com/entities/shanghai-electric-group-company-limited-d542164d-4d5a-4ce0-b33e-5fe6bc34722c" target="_blank" data-smartkarma-citation="entities:8777:1" rel="noopener">Shanghai Electric Group Company (2727 HK)</a> has a breakout pattern to a new high as it re-rates as a China robotics company.
</li>
<li>
<a href="https://www.smartkarma.com/entities/china-railway-construction-corp-limited" target="_blank" data-smartkarma-citation="entities:263:1" rel="noopener">China Railway Construction Corp (1186 HK)</a> has a breakout from a symmetrical triangle pattern showing further upside as valuations within the sector remain depressed. 
</li>
</ul>


Hong Kong markets continue to outperform global equity markets this year outperforming the MSCI Asia Pacific index by a substantial margin.

Shanghai Electric Group Company (2727 HK) has a breakout pattern to a new high as it re-rates as a China robotics company.


China Railway Construction Corp (1186 HK) has a breakout from a symmetrical triangle pattern showing further upside as valuations within the sector remain depressed. 



Technically Speaking, Breakouts and Breakdowns: HONG KONG (OCTOBER 27)

<ul>
<li>Hong Kong markets continue to outperform globally this year with short selling declining and mainland buying increasing.  These trends should accelerate going into next year.</li>
<li>
<a href="https://www.smartkarma.com/entities/sun-art-retail-group-ltd" target="_blank" data-smartkarma-citation="entities:401:1" rel="noopener">Sun Art Retail (6808 HK)</a>resumed trading after announcing that the company is entertaining one or more potential acquisition plans for the company.  The company also announced strong 1H25 earnings.
</li>
<li>
<a href="https://www.smartkarma.com/entities/shanghai-electric-group-company-limited-d542164d-4d5a-4ce0-b33e-5fe6bc34722c" target="_blank" data-smartkarma-citation="entities:8777:1" rel="noopener">Shanghai Electric Group Company (2727 HK) </a>announce a buyback plan for 10% of A and H shares outstanding.  The company also announced the acquisition of the China Fanuc robotics business.
</li>
</ul>


Hong Kong markets continue to outperform globally this year with short selling declining and mainland buying increasing.  These trends should accelerate going into next year.

Sun Art Retail (6808 HK)resumed trading after announcing that the company is entertaining one or more potential acquisition plans for the company.  The company also announced strong 1H25 earnings.


Shanghai Electric Group Company (2727 HK) announce a buyback plan for 10% of A and H shares outstanding.  The company also announced the acquisition of the China Fanuc robotics business.



The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (October 22)

<ul>
<li>The data in this insight is collated from the "shareholding disclosure" link on the HKEx website.</li>
<li>Often there is a corresponding HKEx announcement on the increase - or decrease - in the shareholding by directors. Or pledging. However, such disclosures are by no means an absolute.</li>
<li>The key stocks mentioned in this regular insight include: <a href="https://www.smartkarma.com/entities/dongyue-group-ltd" target="_blank" data-smartkarma-citation="entities:20429:1" rel="noopener">Dongyue Group (189 HK)</a>, <a href="https://www.smartkarma.com/entities/c-d-international-investment" target="_blank" data-smartkarma-citation="entities:14820:1" rel="noopener">C&amp;D International Investment (1908 HK)</a>, and <a href="https://www.smartkarma.com/entities/china-aoyuan-group-ltd" target="_blank" data-smartkarma-citation="entities:7613:1" rel="noopener">China Aoyuan Property (3883 HK)</a>.</li>
</ul>


The data in this insight is collated from the "shareholding disclosure" link on the HKEx website.
Often there is a corresponding HKEx announcement on the increase - or decrease - in the shareholding by directors. Or pledging. However, such disclosures are by no means an absolute.
The key stocks mentioned in this regular insight include: Dongyue Group (189 HK), C&amp;D International Investment (1908 HK), and China Aoyuan Property (3883 HK).


HK CEO & Director Dealings (26th Sep 2024): Dongyue Group, C&D International, China Aoyuan Property

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>There are 25 adds and 29 deletes for the Hang Seng Composite Index (HSCI) at the March rebalance to take the number of index constituents down to 514.</li>
<li>We expect 21 of the 25 HSCI inclusions to be added to Stock Connect while we expect 27 of the 29 HSCI deletions to be removed from Southbound Stock Connect.</li>
<li>Since the start of the year, shares held though Southbound Connect have increased on 22 of the 29 HSCI deletions and there could be some unwinding in the weeks ahead.</li>
</ul>


There are 25 adds and 29 deletes for the Hang Seng Composite Index (HSCI) at the March rebalance to take the number of index constituents down to 514.
We expect 21 of the 25 HSCI inclusions to be added to Stock Connect while we expect 27 of the 29 HSCI deletions to be removed from Southbound Stock Connect.
Since the start of the year, shares held though Southbound Connect have increased on 22 of the 29 HSCI deletions and there could be some unwinding in the weeks ahead.


HSCI Index Rebalance: 25 Adds, 29 Deletes & Changes to Southbound Stock Connect

China

Shandong Hi-Speed Holdings Group Limited operates as an investment holding company. The Company provides bond investment, equity investment, money lending services, securities brokerage, asset management, financial leasing, and other services. Shandong Hi-Speed Holdings Group also offers internet new media services.

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Shandong Hi-Speed Holdings Gro (412 HK)

Shandong Hi-Speed New Energy (1250 HK): Expect A Delisting Offer

If an Offer, I'll defer to the average Offer premium of ~37% in HK over the past five. That backs out a possible price of HK$2.30/share, or ~13.5x...

David Blennerhassett

Technically Speaking, Breakouts and Breakdowns: HONG KONG (OCTOBER 27)

HK markets are the star performers in Asia beating the MSCI Asia Pacific index. Shanghai Electric has a breakout as it re-rates as a robotic...

David Mudd

The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (October 22)

HK out-perform global peers with short selling abating and mainland buying increasing. Sun Art resumed trading as it entertains potential buyout...

David Mudd

HK CEO & Director Dealings (26th Sep 2024): Dongyue Group, C&D International, China Aoyuan Property

The data in this insight is collated from the "shareholding disclosure" link on the HKEx website. These insights also flag those companies where...

David Blennerhassett

HSCI Index Rebalance: 25 Adds, 29 Deletes & Changes to Southbound Stock Connect

There are 25 adds and 29 deletes for the HSCI in March. 21 stocks will be added to Stock Connect while 27 will be deleted. Positions via the...

Brian Freitas

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