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

DZT Research

DZT 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 analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Nov 21st based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Xiaomi (1810 HK), Cosco Shipping (1919 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Feihe (6186 HK), Cosco Shipping (1919 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Nov 21st based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Xiaomi (1810 HK), Cosco Shipping (1919 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Feihe (6186 HK), Cosco Shipping (1919 HK).


Hong Kong Buybacks Weekly (Nov 21st): Tencent, Xiaomi, Cosco Shipping

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Ridge Outdoor International / Equity Capital Markets

<ul>
<li>The OEM/ODM model is facing challenges and cannot bring sustainable growth. This business model will lead to a lack of flexibility/innovation ability for Ridge in the face of market changes.</li>
<li>Transition from OEM/ODM to OBM requires high investment of resources in brand incubation/channel restructuring, which will lead to cash flow pressure.We cannot understand the logic behind Ridge's large dividend payout.</li>
<li>Valuation of Ridge could be higher than <a href="https://www.smartkarma.com/entities/yue-yuen-industrial-holdings-limited" target="_blank" data-smartkarma-citation="entities:12281:1" rel="noopener">Yue Yuen </a>but lower than <a href="https://www.smartkarma.com/entities/techtronic-industries-co-ltd" target="_blank" data-smartkarma-citation="entities:4561:1" rel="noopener">Techtronic </a>and <a href="https://www.smartkarma.com/entities/comefly-outdoor-co-ltd" target="_blank" data-smartkarma-citation="entities:30268:1" rel="noopener">Comefly</a>. If the Company’s transformation to OBM business is stagnated, then high valuation is not justified  </li>
</ul>


The OEM/ODM model is facing challenges and cannot bring sustainable growth. This business model will lead to a lack of flexibility/innovation ability for Ridge in the face of market changes.
Transition from OEM/ODM to OBM requires high investment of resources in brand incubation/channel restructuring, which will lead to cash flow pressure.We cannot understand the logic behind Ridge's large dividend payout.
Valuation of Ridge could be higher than Yue Yuen but lower than Techtronic and Comefly. If the Company’s transformation to OBM business is stagnated, then high valuation is not justified  


Pre-IPO Ridge Outdoor International - The OEM/ODM Model Has Become a Burden

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Sep 5th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Hang Seng Bank (11 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Hang Seng Bank (11 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Sep 5th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Hang Seng Bank (11 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Hang Seng Bank (11 HK).


Hong Kong Buybacks Weekly (Sep 5th): Tencent, China Hongqiao, Hang Seng Bank

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Aug 29th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Sinopec (386 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Hang Seng Bank (11 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Aug 29th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Sinopec (386 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Hang Seng Bank (11 HK).


Hong Kong Buybacks Weekly (Aug 29th): Tencent, China Hongqiao, Sinopec

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Aug 22nd based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Hang Seng Bank (11 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Hang Seng Bank (11 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Aug 22nd based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Hang Seng Bank (11 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), China Hongqiao (1378 HK), Hang Seng Bank (11 HK).


Hong Kong Buybacks Weekly (Aug 22nd): Tencent, China Hongqiao, Hang Seng Bank

Hong Kong

Techtronic Industries designs, produces, and markets cordless power tools, outdoor power equipment, hand tools, and floor care appliances. Its diverse brand portfolio includes Milwaukee, Ryobi, AEG, Hoover, and Dirt Devil. The company was founded in 1985 and is headquartered in Hong Kong.

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

Techtronic Industries (669 HK)

Hong Kong Buybacks Weekly (Nov 21st): Tencent, Xiaomi, Cosco Shipping

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Pre-IPO Ridge Outdoor International - The OEM/ODM Model Has Become a Burden

Transitioning from OEM/ODM to OBM is challenging due to cashflow pressure.If transformation stalls, high valuation is not justified.We don't...

Xinyao (Criss) Wang

Hong Kong Buybacks Weekly (Sep 5th): Tencent, China Hongqiao, Hang Seng Bank

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Aug 29th): Tencent, China Hongqiao, Sinopec

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Aug 22nd): Tencent, China Hongqiao, Hang Seng Bank

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Buybacks Weekly (Nov 21st): Tencent, Xiaomi, Cosco Shipping

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Pre-IPO Ridge Outdoor International - The OEM/ODM Model Has Become a Burden

​Transitioning from OEM/ODM to OBM is challenging due to cashflow pressure.If transformation stalls, high valuation is not justified.We don't...

Xinyao (Criss) Wang

Hong Kong Buybacks Weekly (Sep 5th): Tencent, China Hongqiao, Hang Seng Bank

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Aug 29th): Tencent, China Hongqiao, Sinopec

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Aug 22nd): Tencent, China Hongqiao, Hang Seng Bank

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Transitioning from OEM/ODM to OBM is challenging due to cashflow pressure.If transformation stalls, high valuation is not justified.We don't...