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

Shenton Research

Shenton 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 196 stocks over the last week. The average A-H premium was 83.5% as of Sep 11th.</li>
<li>The average A-H premium changed by 1.7ppt week-on-week, led by real estate, information technology, materials.</li>
<li>We highlight weekly changes in A-H premium for Minsheng Bank, Innocare Pharma, Yofc, Citic Sec.</li>
</ul>


We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 83.5% as of Sep 11th.
The average A-H premium changed by 1.7ppt week-on-week, led by real estate, information technology, materials.
We highlight weekly changes in A-H premium for Minsheng Bank, Innocare Pharma, Yofc, Citic Sec.


A-H Premium Weekly (Sep 11th): Minsheng Bank, Innocare Pharma, Yofc, Citic Sec

<ul>
<li>We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 81.8% as of Sep 4th.</li>
<li>The average A-H premium changed by 0.4ppt week-on-week, led by communication services, consumer staples, consumer discretionary and offset by energy, financials, utilities.</li>
<li>We highlight weekly changes in A-H premium for China South Air, Remegen, China Telecom, Muyuan Foods, Conch Cement, Minsheng Bank.</li>
</ul>


We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 81.8% as of Sep 4th.
The average A-H premium changed by 0.4ppt week-on-week, led by communication services, consumer staples, consumer discretionary and offset by energy, financials, utilities.
We highlight weekly changes in A-H premium for China South Air, Remegen, China Telecom, Muyuan Foods, Conch Cement, Minsheng Bank.


A-H Premium Weekly (Sep 4th): China South Air, Remegen, China Telecom, Muyuan Foods, Conch Cement

<ul>
<li>We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 81.4% as of Aug 28th.</li>
<li>The average A-H premium changed by 1.6ppt week-on-week, led by consumer discretionary, energy, real estate and offset by utilities, financials.</li>
<li>We highlight weekly changes in A-H premium for Gwmotor, China Mobile, Remegen, Fuyao Glass, Minsheng Bank.</li>
</ul>


We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 81.4% as of Aug 28th.
The average A-H premium changed by 1.6ppt week-on-week, led by consumer discretionary, energy, real estate and offset by utilities, financials.
We highlight weekly changes in A-H premium for Gwmotor, China Mobile, Remegen, Fuyao Glass, Minsheng Bank.


A-H Premium Weekly (Aug 28th): Gwmotor, China Mobile, Remegen, Fuyao Glass, Minsheng Bank

Equity Capital Markets

Ingenic Semiconductor / Equity Capital Markets

<ul>
<li>Ingenic Semiconductor, a fabless memory and computing IC designer, launched its IPO to raise USD 410m through an A+H listing. GTJA is the sole sponsor.</li>
<li>In this note, we look at the deal terms and provide our thoughts on valuation for the company.</li>
<li>We analyze reference A+H transactions, cornerstone and sponsor performance and assess the risk-reward of the deal.</li>
</ul>


Ingenic Semiconductor, a fabless memory and computing IC designer, launched its IPO to raise USD 410m through an A+H listing. GTJA is the sole sponsor.
In this note, we look at the deal terms and provide our thoughts on valuation for the company.
We analyze reference A+H transactions, cornerstone and sponsor performance and assess the risk-reward of the deal.


Ingenic Semiconductor (北京君正) A+H IPO: Analysis of Deal Terms

<ul>
<li>We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 82.7% as of Aug 14th.</li>
<li>The average A-H premium changed by 1.0ppt week-on-week, led by consumer staples, health care, materials and offset by information technology, energy, real estate.</li>
<li>We highlight weekly changes in A-H premium for Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare Ict, China Telecom.</li>
</ul>


We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 82.7% as of Aug 14th.
The average A-H premium changed by 1.0ppt week-on-week, led by consumer staples, health care, materials and offset by information technology, energy, real estate.
We highlight weekly changes in A-H premium for Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare Ict, China Telecom.


A-H Premium Weekly (Aug 14th): Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare Ict

China

Suzhou Novosense Microelectronics Co., Ltd. produces and sells integrated circuits. The Company manufactures and sells integrated sensor chips, isolation and interface chips, drive and sampling chips, and other products. Suzhou Novosense Microelectronics provides its products for energy, industrial automation, auto electronic, and consumer electronic fields.

Suzhou Novosense Microelectron (688052 CH)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Suzhou Novosense Microelectron (688052 CH)

A-H Premium Weekly (Sep 11th): Minsheng Bank, Innocare Pharma, Yofc, Citic Sec

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Minsheng Bank, Innocare Pharma, Yofc, Citic Sec.

Ke Yan, CFA, FRM

A-H Premium Weekly (Sep 4th): China South Air, Remegen, China Telecom, Muyuan Foods, Conch Cement

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China South Air, Remegen, China Telecom, Muyuan Foods, Conch...

Ke Yan, CFA, FRM

A-H Premium Weekly (Aug 28th): Gwmotor, China Mobile, Remegen, Fuyao Glass, Minsheng Bank

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Gwmotor, China Mobile, Remegen, Fuyao Glass, Minsheng Bank.

Ke Yan, CFA, FRM

Ingenic Semiconductor (北京君正) A+H IPO: Analysis of Deal Terms

We analyze Ingenic Semiconductor's USD 410m Hong Kong IPO. We look at deal terms, track records of cornerstone investors and sponsors, as well as...

Ke Yan, CFA, FRM

A-H Premium Weekly (Aug 14th): Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare Ict

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)