Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>CSPC Pharmaceutical’s NDA for Anbenitamab injection has been accepted in China. Phase 2 trial of Lead candidate of TransThera Sciences, Tinengotinib in combination with Fulvestrant for breast cancer got approval.</li>
<li>Samsung Biologics signed CMO contract worth $1.3B with a U.S.-based pharmaceutical company. Daiichi Sankyo reported positive clinical trial result for ifinatamab deruxtecan in SCLC.</li>
<li>Sun Pharmaceutical’s Halol facility is under import alert, resulting in the refusal of shipments from the facility into the U.S. Biocon inaugurates its first U.S. manufacturing facility in New Jersey.</li>
</ul>


CSPC Pharmaceutical’s NDA for Anbenitamab injection has been accepted in China. Phase 2 trial of Lead candidate of TransThera Sciences, Tinengotinib in combination with Fulvestrant for breast cancer got approval.
Samsung Biologics signed CMO contract worth $1.3B with a U.S.-based pharmaceutical company. Daiichi Sankyo reported positive clinical trial result for ifinatamab deruxtecan in SCLC.
Sun Pharmaceutical’s Halol facility is under import alert, resulting in the refusal of shipments from the facility into the U.S. Biocon inaugurates its first U.S. manufacturing facility in New Jersey.


APAC Healthcare Weekly (September 14)–CSPC Pharm, TransThera, Samsung Bio, Daiichi Sankyo, Sun Pharm

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 analyse the changes of A-H premium on 157 stocks over the last week. The average A-H premium was 61.0% as of Aug 29th.</li>
<li>The average A-H premium changed by 2.7ppt week-on-week, led by health care, financials, information technology and offset by real estate.</li>
<li>We highlight weekly changes in A-H premium for Qingdao Port, Beigene, Cgn Power, China Galaxy Securities, Jl Mag Rare-Earth.</li>
</ul>


We analyse the changes of A-H premium on 157 stocks over the last week. The average A-H premium was 61.0% as of Aug 29th.
The average A-H premium changed by 2.7ppt week-on-week, led by health care, financials, information technology and offset by real estate.
We highlight weekly changes in A-H premium for Qingdao Port, Beigene, Cgn Power, China Galaxy Securities, Jl Mag Rare-Earth.


A-H Premium Weekly (Aug 29th): Qingdao Port, Beigene, Cgn Power, China Galaxy Securities

Equity Capital Markets

Akeso Biopharma Inc / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/akeso-biopharma-inc" target="_blank" data-smartkarma-citation="entities:28830:1" rel="noopener">Akeso Biopharma Inc (9926 HK)</a> announced the placement of 23.6M shares for subscription at HK$149.54 per share.</li>
<li>The company intends to use most of the placement proceeds for R&amp;D of innovative pipeline, platform, building of infrastructure and facilities, and commercialization of existing approved products.  </li>
<li>Expanded indications of cadonilimab and ivonescimab, the successive positive data readouts, approvals, and continuous commercialization expansion efforts into global markets augur well.</li>
</ul>



Akeso Biopharma Inc (9926 HK) announced the placement of 23.6M shares for subscription at HK$149.54 per share.
The company intends to use most of the placement proceeds for R&amp;D of innovative pipeline, platform, building of infrastructure and facilities, and commercialization of existing approved products.  
Expanded indications of cadonilimab and ivonescimab, the successive positive data readouts, approvals, and continuous commercialization expansion efforts into global markets augur well.


Akeso Inc (9926 HK): Pipeline Prospects Shine on Positive Trial Results; Placement Looks Attractive

Hansoh Pharmaceutical Group  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hansoh-pharmaceutical-group-co" target="_blank" data-smartkarma-citation="entities:23675:1" rel="noopener">Hansoh Pharmaceutical Group (3692 HK)</a> is placing 108M shares at the price of HK$36.30 per share. 65% of the proceeds will be used for the R&amp;D of new innovative drugs.</li>
<li>Hansoh’s late-stage pipeline seems to be interesting, as its key focus areas being oncology and metabolic diseases, which are among the fast-growing therapeutic areas, with huge addressable patient population.</li>
<li>Hansoh has announced better-than-expected 1H25 result, with both revenue and net profit beating consensus. Innovative drugs revenue increased 22% YoY to RMB6B, contributing 82.7% of total revenue.</li>
</ul>



Hansoh Pharmaceutical Group (3692 HK) is placing 108M shares at the price of HK$36.30 per share. 65% of the proceeds will be used for the R&amp;D of new innovative drugs.
Hansoh’s late-stage pipeline seems to be interesting, as its key focus areas being oncology and metabolic diseases, which are among the fast-growing therapeutic areas, with huge addressable patient population.
Hansoh has announced better-than-expected 1H25 result, with both revenue and net profit beating consensus. Innovative drugs revenue increased 22% YoY to RMB6B, contributing 82.7% of total revenue.


Hansoh Pharmaceutical (3692 HK): Placing Shares to Fund R&D Amid Stellar 1H Performance

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 15th.</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 Xiaomi, Kuaishou, Wuxi Biologics, Alibaba, BYD Electronic, Anta, China Mobile, China Life, Zai Lab.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 15th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Xiaomi, Kuaishou, Wuxi Biologics, Alibaba, BYD Electronic, Anta, China Mobile, China Life, Zai Lab.


HK Connect Flows Weekly (Aug 15th): Xiaomi, Kuaishou, Wuxi Biologics, Alibaba, BYD Electronic, Anta

China

Shanghai Junshi Biosciences Co., Ltd. operates as a biopharmaceutical company. The Company develops and sells small molecule drugs, antibody drug conjugates, and other products. Shanghai Junshi Biosciences markets its products worldwide.

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Shanghai Junshi Biosciences (1877 HK)

APAC Healthcare Weekly (September 14)–CSPC Pharm, TransThera, Samsung Bio, Daiichi Sankyo, Sun Pharm

CSPC Pharma’s NDA for Anbenitamab injection has been accepted in China. TransThera got trial approval for lead candidate. Samsung Bio signed $1.3B...

Tina Banerjee

A-H Premium Weekly (Aug 29th): Qingdao Port, Beigene, Cgn Power, China Galaxy Securities

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Qingdao Port, Beigene, Cgn Power, China Galaxy Securities,...

Ke Yan, CFA, FRM

Akeso Inc (9926 HK): Pipeline Prospects Shine on Positive Trial Results; Placement Looks Attractive

Akeso is placing of 23.6M shares for subscription at HK$149.54 per share to raise HK$3.5B. The company manly intends to use placement proceeds for...

Tina Banerjee

Hansoh Pharmaceutical (3692 HK): Placing Shares to Fund R&D Amid Stellar 1H Performance

Hansoh Pharma is raising ~$500M for R&D of new drugs, with a focus on oncology and metabolic diseases. During 1H25, innovative drugs revenue...

Tina Banerjee

HK Connect Flows Weekly (Aug 15th): Xiaomi, Kuaishou, Wuxi Biologics, Alibaba, BYD Electronic, Anta

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Xiaomi, Kuaishou, Wuxi Biologics, Alibaba, BYD...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

APAC Healthcare Weekly (September 14)–CSPC Pharm, TransThera, Samsung Bio, Daiichi Sankyo, Sun Pharm

CSPC Pharma’s NDA for Anbenitamab injection has been accepted in China. TransThera got trial approval for lead candidate. Samsung Bio signed $1.3B...

Tina Banerjee

A-H Premium Weekly (Aug 29th): Qingdao Port, Beigene, Cgn Power, China Galaxy Securities

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Qingdao Port, Beigene, Cgn Power, China Galaxy Securities,...

Ke Yan, CFA, FRM

Akeso Inc (9926 HK): Pipeline Prospects Shine on Positive Trial Results; Placement Looks Attractive

Akeso is placing of 23.6M shares for subscription at HK$149.54 per share to raise HK$3.5B. The company manly intends to use placement proceeds for...

Tina Banerjee

Hansoh Pharmaceutical (3692 HK): Placing Shares to Fund R&D Amid Stellar 1H Performance

​Hansoh Pharma is raising ~$500M for R&D of new drugs, with a focus on oncology and metabolic diseases. During 1H25, innovative drugs revenue...

Tina Banerjee

HK Connect Flows Weekly (Aug 15th): Xiaomi, Kuaishou, Wuxi Biologics, Alibaba, BYD Electronic, Anta

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Xiaomi, Kuaishou, Wuxi Biologics, Alibaba, BYD...

Ke Yan, CFA, FRM

Hansoh Pharma is raising ~$500M for R&D of new drugs, with a focus on oncology and metabolic diseases. During 1H25, innovative drugs revenue...