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 analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of February 17th.</li>
<li>We estimate the weekly inflows to be US$1,241.6 million, led by industrials, consumer discretionary, information technology sectors, and offset by financials, utilities.</li>
<li>We highlight flows for Contemporary Amperex Technology, Sany Heavy Industry, Hundsun Technologies, Ping An Insurance, China Merchants Bank, Eve Energy.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of February 17th.
We estimate the weekly inflows to be US$1,241.6 million, led by industrials, consumer discretionary, information technology sectors, and offset by financials, utilities.
We highlight flows for Contemporary Amperex Technology, Sany Heavy Industry, Hundsun Technologies, Ping An Insurance, China Merchants Bank, Eve Energy.


Northbound Flows (Feb 17th): CATL, Sany Heavy, Hundsun, Ping An Insurance, CMB, Eve Energy

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of February 10th.</li>
<li>We estimate the weekly inflows to be US$456.0 million, led by financials, information technology, utilities sectors, and offset by materials, consumer discretionary.</li>
<li>We highlight flows for Ping An Insurance, Contemporary Amperex Technology, Kweichow Moutai, Luzhou Lao Jiao, Hundsun Technologies, Byd, Midea, Tongwei, Trina Solar</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of February 10th.
We estimate the weekly inflows to be US$456.0 million, led by financials, information technology, utilities sectors, and offset by materials, consumer discretionary.
We highlight flows for Ping An Insurance, Contemporary Amperex Technology, Kweichow Moutai, Luzhou Lao Jiao, Hundsun Technologies, Byd, Midea, Tongwei, Trina Solar


Northbound Flows (Feb 10th): Ping An Insurance, CATL, Moutai, Luzhou Lao Jiao, Hundsun

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

Event-Driven

Contemporary Amperex Technology (CATL) / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/contemporary-amperex-techn-a" target="_blank" data-smartkarma-citation="entities:24404:1" rel="noopener">CATL (A) (300750 CH)</a> is looking to raise up to US$6bn in its upcoming Swiss GDR listing. Bookrunners on the deal are CICC, China Securities, Goldman Sachs, and UBS.</li>
<li>The relatively large listing comes after the firm has been undertaking a series of capital raisings, since it's A-share debut back in Jun 2018, to fund its expansion. </li>
<li>In this note, we discuss GDR timelines, and the firm’s recent financial performance/valuations.</li>
</ul>



CATL (A) (300750 CH) is looking to raise up to US$6bn in its upcoming Swiss GDR listing. Bookrunners on the deal are CICC, China Securities, Goldman Sachs, and UBS.
The relatively large listing comes after the firm has been undertaking a series of capital raisings, since it's A-share debut back in Jun 2018, to fund its expansion. 
In this note, we discuss GDR timelines, and the firm’s recent financial performance/valuations.


CATL GDR Listing Early Look - Past Deals Have Done Well. Valuations Somewhat Justifiable

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

LONGi Green Energy Technology / Event-Driven

<ul>
<li>Inside is a recap of movements in the last week relating to the Hong Kong Stock-Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.</li>
<li>Overall, net inflow was ~US$6.5bn, split between Shanghai (+US$5.5bn) and Shenzhen (+US$1.0bn).</li>
<li>The largest inflows were into <a href="https://www.smartkarma.com/entities/longi-green-energy-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:12703:1" rel="noopener">LONGi Green Energy Technology (601012 CH)</a> and <a href="https://www.smartkarma.com/entities/kweichow-moutai-co-ltd-a" target="_blank" data-smartkarma-citation="entities:1553:1" rel="noopener">Kweichow Moutai (600519 CH)</a>. The largest outflows were in <a href="https://www.smartkarma.com/entities/contemporary-amperex-techn-a" target="_blank" data-smartkarma-citation="entities:24404:1" rel="noopener">CATL (300750 CH)</a> and <a href="https://www.smartkarma.com/entities/cosco-shipping-holdings-co-ltd-a" target="_blank" data-smartkarma-citation="entities:27590:1" rel="noopener">Cosco Shipping Holdings (601919 CH)</a>.</li>
</ul>


Inside is a recap of movements in the last week relating to the Hong Kong Stock-Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.
Overall, net inflow was ~US$6.5bn, split between Shanghai (+US$5.5bn) and Shenzhen (+US$1.0bn).
The largest inflows were into LONGi Green Energy Technology (601012 CH) and Kweichow Moutai (600519 CH). The largest outflows were in CATL (300750 CH) and Cosco Shipping Holdings (601919 CH).


Shanghai/​​​Shenzhen Northbound Connect: Weekly Moves (9 June 2022)

Shanghai Putailai New Energy T / Event-Driven

<ul>
<li>Inside is a recap of movements in the last week relating to the Hong Kong Stock-Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry. </li>
<li>Overall, net inflow was ~US$6.1bn, split between Shanghai (+US$3.5bn) and Shenzhen (+US$2.6bn)  </li>
<li>The largest inflows were into <a href="https://www.smartkarma.com/entities/shanghai-putailai-new-ener-a" target="_blank" data-smartkarma-citation="entities:26603:1" rel="noopener">Shanghai Putailai (603659 CH)</a> and <a href="https://www.smartkarma.com/entities/satelltte-chemical-co-ltd" target="_blank" data-smartkarma-citation="entities:4526:1" rel="noopener">Satelltte Chemical (002648 CH)</a>. The largest outflows were in <a href="https://www.smartkarma.com/entities/anhui-conch-cement-co-ltd-094855ab-abec-4b71-956b-5bfc85e22fdd" target="_blank" data-smartkarma-citation="entities:389:1" rel="noopener">Anhui Conch Cement (600585 CH)</a> and <a href="https://www.smartkarma.com/entities/guangzhou-tinci-materials-technlgy" target="_blank" data-smartkarma-citation="entities:20975:1" rel="noopener">Guangzhou Tinci Materials (002709 CH)</a>.</li>
</ul>


Inside is a recap of movements in the last week relating to the Hong Kong Stock-Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry. 
Overall, net inflow was ~US$6.1bn, split between Shanghai (+US$3.5bn) and Shenzhen (+US$2.6bn)  
The largest inflows were into Shanghai Putailai (603659 CH) and Satelltte Chemical (002648 CH). The largest outflows were in Anhui Conch Cement (600585 CH) and Guangzhou Tinci Materials (002709 CH).


Shanghai/​​Shenzhen Northbound Connect: Weekly Moves (2 June 2022)

China

Shanghai Putailai New Energy Technology Co., Ltd. manufactures advanced materials. The Company designs, produces, and markets anode materials. Shanghai Putailai New Energy Technology also manufactures lithium battery making devices, coating membrane, and aluminum plastic films used in clean energy, energy saving, and environmental protection fields.

Shanghai Putailai New Energy T (603659 CH)

Shanghai Putailai New Energy T (603659 CH)

Northbound Flows (Feb 17th): CATL, Sany Heavy, Hundsun, Ping An Insurance, CMB, Eve Energy

We analyzed the Shanghai/Shenzhen Connect Scheme for last week and highlight flows for CATL, Sany Heavy, Hundsun, Ping An Insurance, CMB, Eve Energy.

Ke Yan, CFA, FRM

Northbound Flows (Feb 10th): Ping An Insurance, CATL, Moutai, Luzhou Lao Jiao, Hundsun

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Ping An Insurance, CATL, Moutai, Luzhou Lao Jiao,...

Ke Yan, CFA, FRM

CATL GDR Listing Early Look - Past Deals Have Done Well. Valuations Somewhat Justifiable

CATL (A) (300750 CH) is looking to raise up to US$6bn in its upcoming Swiss GDR listing. Bookrunners on the deal are CICC, China Securities,...

Clarence Chu

Shanghai/Shenzhen Northbound Connect: Weekly Moves (9 June 2022)

Overall, net inflow was ~US$6.5bn, and was roughly split between Shanghai Northbound (+US$5.5bn) and Shenzhen Northbound (+US$1.0bn).

David Blennerhassett

Shanghai/Shenzhen Northbound Connect: Weekly Moves (2 June 2022)

Overall, net inflow was ~US$6.1bn, split between Shanghai Northbound Connect (+US$3.5bn) and Shenzhen Northbound Connect (+US$2.6bn)

David Blennerhassett

Northbound Flows (Feb 17th): CATL, Sany Heavy, Hundsun, Ping An Insurance, CMB, Eve Energy

We analyzed the Shanghai/Shenzhen Connect Scheme for last week and highlight flows for CATL, Sany Heavy, Hundsun, Ping An Insurance, CMB, Eve Energy.

Ke Yan, CFA, FRM

Northbound Flows (Feb 10th): Ping An Insurance, CATL, Moutai, Luzhou Lao Jiao, Hundsun

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Ping An Insurance, CATL, Moutai, Luzhou Lao Jiao,...

Ke Yan, CFA, FRM

CATL GDR Listing Early Look - Past Deals Have Done Well. Valuations Somewhat Justifiable

CATL (A) (300750 CH) is looking to raise up to US$6bn in its upcoming Swiss GDR listing. Bookrunners on the deal are CICC, China Securities,...

Clarence Chu

Shanghai/​​​Shenzhen Northbound Connect: Weekly Moves (9 June 2022)

Overall, net inflow was ~US$6.5bn, and was roughly split between Shanghai Northbound (+US$5.5bn) and Shenzhen Northbound (+US$1.0bn).

David Blennerhassett

Shanghai/​​Shenzhen Northbound Connect: Weekly Moves (2 June 2022)

Overall, net inflow was ~US$6.1bn, split between Shanghai Northbound Connect (+US$3.5bn) and Shenzhen Northbound Connect (+US$2.6bn)

David Blennerhassett

Shanghai/Shenzhen Northbound Connect: Weekly Moves (9 June 2022)

Shanghai/Shenzhen Northbound Connect: Weekly Moves (2 June 2022)