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 analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 129.8% as of Feb 9th.</li>
<li>The average A-H premium changed by 6.2ppt week-on-week, led by health care, materials, real estate and offset by consumer discretionary, communication services.</li>
<li>We highlight weekly changes in A-H premium for Zijin Mining, Conch Cement, China Vanke, Air China, Shandong Gold, RemeGen, CICC, Shanghai Junshi.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 129.8% as of Feb 9th.
The average A-H premium changed by 6.2ppt week-on-week, led by health care, materials, real estate and offset by consumer discretionary, communication services.
We highlight weekly changes in A-H premium for Zijin Mining, Conch Cement, China Vanke, Air China, Shandong Gold, RemeGen, CICC, Shanghai Junshi.


A-H Premium Weekly (Feb 9th): Zijin Mining, Conch Cement, China Vanke, Air China, Shandong Gold

<ul>
<li>We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 124.1% as of Feb 2nd.</li>
<li>The average A-H premium changed by -5.6ppt week-on-week, led by consumer staples, information technology, industrials and offset by utilities.</li>
<li>We highlight weekly changes in A-H premium for Haier Smart, Wuxi Apptec, BOC, CGN Power, SMIC, Huaneng Power, China Longyuan.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 124.1% as of Feb 2nd.
The average A-H premium changed by -5.6ppt week-on-week, led by consumer staples, information technology, industrials and offset by utilities.
We highlight weekly changes in A-H premium for Haier Smart, Wuxi Apptec, BOC, CGN Power, SMIC, Huaneng Power, China Longyuan.


A-H Premium Weekly (Feb 2nd): Haier Smart, Wuxi Apptec, BOC, CGN Power, SMIC, Huaneng Power

<ul>
<li>We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 128.5% as of Jan 26th.</li>
<li>The average A-H premium changed by -0.6ppt week-on-week, led by energy, industrials, health care and offset by real estate, communication services, information technology.</li>
<li>We highlight weekly changes in A-H premium for Haier Smart Home, China Tourism, Conch Cement, Tsingtao Brew, Gwmotor, China Energy Engineering, Tianqi Lithium Corporation.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 128.5% as of Jan 26th.
The average A-H premium changed by -0.6ppt week-on-week, led by energy, industrials, health care and offset by real estate, communication services, information technology.
We highlight weekly changes in A-H premium for Haier Smart Home, China Tourism, Conch Cement, Tsingtao Brew, Gwmotor, China Energy Engineering, Tianqi Lithium Corporation.


A-H Premium Weekly (Jan 26th): Haier Smart, China Tourism, Conch Cement, Tsingtao Brew, GWM

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/weiqiao-textile-co" target="_blank" data-smartkarma-citation="entities:3690:1" rel="noopener">Weiqiao Textile Co (2698 HK)</a>’s offer pre-condition is satisfied. Prudence has increased its shareholding to 3.39% of the outstanding shares (9.79% of H Shares), marginally short of a blocking stake.  </li>
<li>The HK$3.50 offer has been declared final, which rules out a bump. Therefore, Prudence's strategy could be to play the gross spread or to block the deal.</li>
<li>The <a href="https://www.smartkarma.com/entities/shandong-luoxin-pharmaceut-h" target="_blank" data-smartkarma-citation="entities:20715:1" rel="noopener">Shandong Luoxin Pharmaceutical (8058 HK)</a> precedent supports the gross spread play view. However, unlike the precedent, Prudence is marginally short of a blocking stake in Weiqiao Textile.  </li>
</ul>



Weiqiao Textile Co (2698 HK)’s offer pre-condition is satisfied. Prudence has increased its shareholding to 3.39% of the outstanding shares (9.79% of H Shares), marginally short of a blocking stake.  
The HK$3.50 offer has been declared final, which rules out a bump. Therefore, Prudence's strategy could be to play the gross spread or to block the deal.
The Shandong Luoxin Pharmaceutical (8058 HK) precedent supports the gross spread play view. However, unlike the precedent, Prudence is marginally short of a blocking stake in Weiqiao Textile.  


Weiqiao Textile (2698 HK): Pre-Condition Satisfied as Prudence Edges Towards a Blocking Stake

<ul>
<li>We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 127.6% as of Dec 22nd.</li>
<li>The average A-H premium changed by -0.9ppt week on week, led by communication services, real estate, utilities and offset by health care, consumer discretionary.</li>
<li>We highlight weekly changes in A-H premium for China Tourism, Ping An Insurance, China Southern, BYD, Fuyao Glass Industry.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 127.6% as of Dec 22nd.
The average A-H premium changed by -0.9ppt week on week, led by communication services, real estate, utilities and offset by health care, consumer discretionary.
We highlight weekly changes in A-H premium for China Tourism, Ping An Insurance, China Southern, BYD, Fuyao Glass Industry.


A-H Premium Weekly (Dec 22nd): China Tourism, Ping An Insurance, China Southern, BYD

China

Shanghai Haohai Biological Technology engages in the research, development, manufacture, and sale of biomedical materials and pharmaceutical products. The company focuses on therapeutic areas including ophthalmology, medical aesthetics and wound care, orthopedics, and anti-adhesion and hemostasis, with key products such as intraocular lenses, hyaluronic acid dermal fillers, and sodium hyaluronate injections. It is headquartered in Shanghai, China, and was founded in 2007.

Shanghai Haohai Biological Technology (6826 HK)

Price Gauge
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Shanghai Haohai Biological Technology (6826 HK)

A-H Premium Weekly (Feb 9th): Zijin Mining, Conch Cement, China Vanke, Air China, Shandong Gold

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Zijin Mining, Conch Cement, China Vanke, Air China, Shandong...

Ke Yan, CFA, FRM

A-H Premium Weekly (Feb 2nd): Haier Smart, Wuxi Apptec, BOC, CGN Power, SMIC, Huaneng Power

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Haier Smart, Wuxi Apptec, BOC, CGN Power, SMIC, Huaneng...

Ke Yan, CFA, FRM

A-H Premium Weekly (Jan 26th): Haier Smart, China Tourism, Conch Cement, Tsingtao Brew, GWM

We highlight weekly changes in A-H premium for Haier Smart Home, China Tourism, Conch Cement, Tsingtao Brew, Gwmotor, China Energy Engineering,...

Ke Yan, CFA, FRM

Weiqiao Textile (2698 HK): Pre-Condition Satisfied as Prudence Edges Towards a Blocking Stake

Prudence has now amassed a blocking stake - 3.49% of the outstanding shares (10.08% of H Shares). Prudence’s average buy-in price since becoming a...

Arun George

A-H Premium Weekly (Dec 22nd): China Tourism, Ping An Insurance, China Southern, BYD

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China Tourism, Ping An Insurance, China Southern, BYD, Fuyao...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)