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 analyzed the changes in short interest of TWSE Stocks as of Jul 19th which has an aggregated short interest worth USD21.0bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Kinpo Elec, L&amp;K Engineering, Asia Cement, Yageo, Unimicron Tech, Ctbc Financial, Auo.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Jul 19th which has an aggregated short interest worth USD21.0bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Kinpo Elec, L&amp;K Engineering, Asia Cement, Yageo, Unimicron Tech, Ctbc Financial, Auo.


TWSE Short Interest Weekly (Jul 19th): Kinpo Elec, L&K Engineering, Asia Cement, Unimicron Tech

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>Key Results This Week: Delta, Elan, ChipMOS, Nuvoton, AU Optronics in Taiwan... Plus Samsung, AMD, and Qualcomm.</li>
<li>Positive signs for the PC &amp; mobile space have come from recent Intel, UMC, Mediatek results.</li>
<li>Top Losers: Macronix Slumps on Weak Results and Outlook, Hon Hai Slumps on China Tax &amp; Land Probe</li>
</ul>


Key Results This Week: Delta, Elan, ChipMOS, Nuvoton, AU Optronics in Taiwan... Plus Samsung, AMD, and Qualcomm.
Positive signs for the PC &amp; mobile space have come from recent Intel, UMC, Mediatek results.
Top Losers: Macronix Slumps on Weak Results and Outlook, Hon Hai Slumps on China Tax &amp; Land Probe


Taiwan Tech Weekly: Wave of Key Taiwan Results; Heavyweights Samsung, AMD, Qualcomm Internationally

<ul>
<li>We analyze increase in institutional ownership across our Taiwan Tech universe.</li>
<li>Realtek, Nuvoton, Powerchip, Faraday Technology stand out as stocks that have had rising institutional ownership but have traded flat over the same period. Realtek will have earnings April 21st.</li>
<li>Advanced Energy has fallen in price even as institutions appear to have accumulated the stock.</li>
</ul>


We analyze increase in institutional ownership across our Taiwan Tech universe.
Realtek, Nuvoton, Powerchip, Faraday Technology stand out as stocks that have had rising institutional ownership but have traded flat over the same period. Realtek will have earnings April 21st.
Advanced Energy has fallen in price even as institutions appear to have accumulated the stock.


Ten Taiwan Tech Stocks With Largest Rising Institutional Ownership

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>We screen for companies that are at record positioning among active Asia Ex-Japan managers, whilst capturing strong investment growth over the last 6-months.</li>
<li>9 companies stand out, led by <a href="https://www.smartkarma.com/entities/yum-china-holdings-inc" target="_blank" data-smartkarma-citation="entities:23677:1" rel="noopener">Yum China Holdings, Inc (YUMC US)</a>  and <a href="https://www.smartkarma.com/entities/glodon-company-limited-a" target="_blank" data-smartkarma-citation="entities:10536:1" rel="noopener">Glodon Company Limited A (002410 CH)</a> </li>
<li>These 9 stocks have accelerated to a record combined weight of 3.04%.  The rate of increase has been remarkable, with average weights doubling since the end of March 2022.  </li>
</ul>


We screen for companies that are at record positioning among active Asia Ex-Japan managers, whilst capturing strong investment growth over the last 6-months.
9 companies stand out, led by Yum China Holdings, Inc (YUMC US)  and Glodon Company Limited A (002410 CH) 
These 9 stocks have accelerated to a record combined weight of 3.04%.  The rate of increase has been remarkable, with average weights doubling since the end of March 2022.  


Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

<p>China (MSCI China, Shanghai Comp., Shenzhen A Share) continues to offer many attractive setups and is a major focus in today’s EM Strategy report. Additionally, Taiwan (TAIEX) continues to be worthy of an overweight within the EM universe with the RS uptrend intact. We highlight several attractive set ups.</p>

China (MSCI China, Shanghai Comp., Shenzhen A Share) continues to offer many attractive setups and is a major focus in today’s EM Strategy report. Additionally, Taiwan (TAIEX) continues to be worthy of an overweight within the EM universe with the RS uptrend intact. We highlight several attractive set ups.

EM Strategy and Chartbook: Remain Overweight EM Vs. EAFE

Taiwan

Sinbon Electronics Co., Ltd. markets cable, connectors, and modems.  The Company exports its products mainly to other Asian countries, America, and Europe.

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Sinbon Electronincs (3023 TT)

TWSE Short Interest Weekly (Jul 19th): Kinpo Elec, L&K Engineering, Asia Cement, Unimicron Tech

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Kinpo Elec, L&K Engineering, Asia Cement, Yageo,...

Ke Yan, CFA, FRM

Taiwan Tech Weekly: Wave of Key Taiwan Results; Heavyweights Samsung, AMD, Qualcomm Internationally

This week's key results in Taiwan include Delta, Elan, ChipMOS, Nuvoton, and AU Optronics. Positive signs for the PC and mobile space have been...

Vincent Fernando, CFA

Ten Taiwan Tech Stocks With Largest Rising Institutional Ownership

Realtek, Nuvoton, Powerchip, Faraday Technology stand out as stocks that have had rising institutional ownership but have traded flat over the same...

Vincent Fernando, CFA

Asia Ex-Japan's Rising Stars

We screen for companies in the Asia Ex-Japan region that are not widely held but are at record levels of ownership among actively managed funds.

Steven Holden

EM Strategy and Chartbook: Remain Overweight EM Vs. EAFE

China (MSCI China, Shanghai Comp., Shenzhen A Share) continues to offer many attractive setups and is a major focus in today’s EM Strategy report....

Vermilion Research

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