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 latest HK SFC report for aggregate short position as of May 30th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Catl, Horizonrobot, ICBC, Fl2 Csop Hsi, Fi2 Csop Hsi.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of May 30th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Catl, Horizonrobot, ICBC, Fl2 Csop Hsi, Fi2 Csop Hsi.


HK Short Interest Weekly: Catl, Horizonrobot, ICBC

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

Henderson Land Development / Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/henderson-land-development-co" target="_blank" data-smartkarma-citation="entities:376:1" rel="noopener">Henderson Land Development (12 HK)</a> will be added to a global sector index at the close on 20 June.</li>
<li>Estimated passive buying in <a href="https://www.smartkarma.com/entities/henderson-land-development-co" target="_blank" data-smartkarma-citation="entities:376:1" rel="noopener">Henderson Land Development (12 HK)</a> is 42m shares (US$131.5m; 7.5x ADV).</li>
<li>The stock is up over the last 2 months as shorts have covered. Performance is in line with peers and positioning does not appear to be excessive.</li>
</ul>



Henderson Land Development (12 HK) will be added to a global sector index at the close on 20 June.
Estimated passive buying in Henderson Land Development (12 HK) is 42m shares (US$131.5m; 7.5x ADV).
The stock is up over the last 2 months as shorts have covered. Performance is in line with peers and positioning does not appear to be excessive.


Henderson Land (12 HK): Large Passive Flow Coming Up as Shorts Cover

Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Listed Real Estate Asia

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Equity Bottom-Up

Sun Hung Kai Properties / Equity Bottom-Up

<ul>
<li>As the largest real estate company in Hong Kong, Sun Hung Kai Properties has well diversified businesses in Hong Kong and China</li>
<li>SHKP is viewed as a Hong Kong proxy because of its business origination.  Also, a trade on SHKP is a value play</li>
<li>Macro backdrop is supportive.  We think the potential for downside surprise is very limited, and valuation is undemanding</li>
</ul>


As the largest real estate company in Hong Kong, Sun Hung Kai Properties has well diversified businesses in Hong Kong and China
SHKP is viewed as a Hong Kong proxy because of its business origination.  Also, a trade on SHKP is a value play
Macro backdrop is supportive.  We think the potential for downside surprise is very limited, and valuation is undemanding


SHKP 16 HK: A Very Safe Play to Bet on Hong Kong Future

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of May 9th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Meituan, AIA, Geely Auto, Jd, Cspc Pharma.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of May 9th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Meituan, AIA, Geely Auto, Jd, Cspc Pharma.


HK Short Interest Weekly: Meituan, AIA, Geely Auto, Jd, Cspc Pharma

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

<ul><li>Mapletree, a real estate firm, has sold Scottish student housing to a Dutch fund manager, expanding its international portfolio.</li><li>Shanghai office rents have decreased for the 12th consecutive quarter, reflecting a downward trend in the local real estate market.</li><li>Central Tokyo office rents have increased due to rising construction costs, impacting rates for new supply and attracting investor interest.</li></ul>

Mapletree, a real estate firm, has sold Scottish student housing to a Dutch fund manager, expanding its international portfolio.Shanghai office rents have decreased for the 12th consecutive quarter, reflecting a downward trend in the local real estate market.Central Tokyo office rents have increased due to rising construction costs, impacting rates for new supply and attracting investor interest.

Asia Real Estate Tracker (21-Apr-2025): Mapletree sells Scotland student housing.

Hong Kong

Sun Hung Kai Properties Limited develops and invests in properties. The Company operates and manages hotels, properties, car parking, and transportation infrastructures. Sun Hung Kai Properties serves customers in Hong Kong.

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Sun Hung Kai Properties (16 HK)

HK Short Interest Weekly: Catl, Horizonrobot, ICBC

We analyzed the latest HK SFC report for aggregate short position as of May 30th and highlight short interest changes in Catl, Horizonrobot, ICBC,...

Ke Yan, CFA, FRM

Henderson Land (12 HK): Large Passive Flow Coming Up as Shorts Cover

Henderson Land Development (12 HK) will be added to a global sector index at the close on 20 June and passives need to buy a fair bit. Positioning...

Brian Freitas

SHKP 16 HK: A Very Safe Play to Bet on Hong Kong Future

With the China easing and US interest rate cut, we think the macro backdrop is supportive for a Hong Kong re-rating. Sun Hung Kai Properties is...

Jacob Cheng

HK Short Interest Weekly: Meituan, AIA, Geely Auto, Jd, Cspc Pharma

We analyzed the latest HK SFC report for aggregate short position as of May 9th and highlight short interest changes in Meituan, AIA, Geely Auto,...

Ke Yan, CFA, FRM

Asia Real Estate Tracker (21-Apr-2025): Mapletree sells Scotland student housing.

Mapletree sells Scottish student housing, Shanghai office rents decline, and Central Tokyo office rents rise due to construction costs.

Asia Real Estate Tracker

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)