Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>For the first time in 2024, <a href="https://www.smartkarma.com/entities/prosus-nv" target="_blank" data-smartkarma-citation="entities:28104:1" rel="noopener">Prosus NV (PRX NA)</a> lodges a substantial shareholder notice,  as its stake in <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> dips below 24%. </li>
<li>Preceding my comments on Prosus, Tencent and <a href="https://www.smartkarma.com/entities/naspers-ltd" target="_blank" data-smartkarma-citation="entities:21085:1" rel="noopener">Naspers (NPN SJ)</a>, are the current setup/unwind tables for Asia-Pacific Holdcos.</li>
<li>These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.</li>
</ul>


For the first time in 2024, Prosus NV (PRX NA) lodges a substantial shareholder notice,  as its stake in Tencent (700 HK) dips below 24%. 
Preceding my comments on Prosus, Tencent and Naspers (NPN SJ), are the current setup/unwind tables for Asia-Pacific Holdcos.
These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.


StubWorld: Business As Usual As Prosus Sells, & Tencent Buys Back

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>UBER US/WRD US/BIDU US/9660 HK/XPEV US:Uber cooperates with WeRide in the United Arab Emirates. It previously cooperated with BYD for 100,000 EV's. Is it using China to counter Tesla?.(/////////)</li>
<li>NTES US: NetEase’s New Game &lt;Marvel Rival&gt; Reaches Over 10 Million Players Within 72 Hours of Launch (+)</li>
<li>BABA US/PDD US: Taobao launches new treasure hunting mechanism for upcoming 12/12 sale to attract a younger cohort (+/-)</li>
</ul>


UBER US/WRD US/BIDU US/9660 HK/XPEV US:Uber cooperates with WeRide in the United Arab Emirates. It previously cooperated with BYD for 100,000 EV's. Is it using China to counter Tesla?.(/////////)
NTES US: NetEase’s New Game &lt;Marvel Rival&gt; Reaches Over 10 Million Players Within 72 Hours of Launch (+)
BABA US/PDD US: Taobao launches new treasure hunting mechanism for upcoming 12/12 sale to attract a younger cohort (+/-)


[Blue Lotus Daily-TMT Update]:UBER US/WRD US/BIDU US/9660HK/XPEV US/NTES/BABA/PDD/3690HK/TCOM /700HK

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

LG Electronics India / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lg-electronics-inc" target="_blank" data-smartkarma-citation="entities:8814:1" rel="noopener">LG Electronics (066570 KS)</a> is looking to raise US$1.5bn+ via part-selling its stake in <a href="https://www.smartkarma.com/entities/lg-electronics-india" target="_blank" data-smartkarma-citation="entities:44148:1" rel="noopener">LG Electronics India</a> IPO. The deal will be run by MS, JPM, Axis, BofA and Citi.</li>
<li>LG Electronics India (LGEI) was the market leader in India in major home appliances and consumer electronics (excluding mobile phones) in terms of volume in 1Q25, as per Redseer Report.</li>
<li>LGEI has been the number one player in this industry for 13 consecutive years (CY11-CY23) as per the value market share in the offline channel in India, as per Redseer.</li>
</ul>



LG Electronics (066570 KS) is looking to raise US$1.5bn+ via part-selling its stake in LG Electronics India IPO. The deal will be run by MS, JPM, Axis, BofA and Citi.
LG Electronics India (LGEI) was the market leader in India in major home appliances and consumer electronics (excluding mobile phones) in terms of volume in 1Q25, as per Redseer Report.
LGEI has been the number one player in this industry for 13 consecutive years (CY11-CY23) as per the value market share in the offline channel in India, as per Redseer.


Mao Geping Cosmetics / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mao-geping-cosmetics-co-ltd" target="_blank" data-smartkarma-citation="entities:41297:1" rel="noopener">Mao Geping Cosmetics</a> raised around US$345m in its Hong Kong IPO.</li>
<li>Mao Geping Cosmetics (MGC) operates in the premium beauty segment. Operating via its two brands, MAOGEPING and Love Keeps, MGC offers a wide range of color cosmetics and skincare products.</li>
<li>We have looked at the company’s past performance in our previous notes. In this note, we will talk about the trading dynamics.</li>
</ul>



Mao Geping Cosmetics raised around US$345m in its Hong Kong IPO.
Mao Geping Cosmetics (MGC) operates in the premium beauty segment. Operating via its two brands, MAOGEPING and Love Keeps, MGC offers a wide range of color cosmetics and skincare products.
We have looked at the company’s past performance in our previous notes. In this note, we will talk about the trading dynamics.


Mao Geping Cosmetics IPO Trading - Highest Demand for This Year

Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Equity Derivatives

<ul>
<li>Strong price action across the market this week coupled with implied vols having caught down to historic vols has put a floor on implied vols.</li>
<li>Tencent sees strong call buying in December 410 and 420 Calls with month end 400 strike Put buying for December and January.</li>
<li>Cathay Pacific, +21% over past 3 weeks, HSBC, at 52-week high plus up 38% on the year and BABA, down 21% from Oct 02 high all active names.</li>
</ul>


Strong price action across the market this week coupled with implied vols having caught down to historic vols has put a floor on implied vols.
Tencent sees strong call buying in December 410 and 420 Calls with month end 400 strike Put buying for December and January.
Cathay Pacific, +21% over past 3 weeks, HSBC, at 52-week high plus up 38% on the year and BABA, down 21% from Oct 02 high all active names.


EQD | Hong Kong Single Stock Options Weekly Dec 02 - 06

China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

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Tencent Holdings (ADR) (TCEHY US)

StubWorld: Business As Usual As Prosus Sells, & Tencent Buys Back

Current levels for Prosus are neither here nor there. For long-onlies, I'd still prefer replacing your Tencent with Prosus; or specifically, ~80%...

David Blennerhassett

[Blue Lotus Daily-TMT Update]:UBER US/WRD US/BIDU US/9660HK/XPEV US/NTES/BABA/PDD/3690HK/TCOM /700HK

Uber partners with WeRide in UAE after previous EV collaboration with BYD, raising questions if it's using China to compete with Tesla.

Blue Lotus Research Institute

LG Electronics India Pre-IPO Tearsheet

LG Electronics (066570 KS) is looking to raise US$1.5bn+ via part-selling its stake in LG Electronics India IPO. The deal will be run by MS, JPM,...

Sumeet Singh

Mao Geping Cosmetics IPO Trading - Highest Demand for This Year

Mao Geping Cosmetics raised around US$345m in its Hong Kong IPO, after pricing at the top-end and upsizing the deal. In this note, we talk about...

Sumeet Singh

EQD | Hong Kong Single Stock Options Weekly Dec 02 - 06

Market showing strong price action this week with implied vols stabilizing, Tencent sees call buying, Cathay Pacific, HSBC, and BABA all active...

John Ley

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

StubWorld: Business As Usual As Prosus Sells, & Tencent Buys Back

Current levels for Prosus are neither here nor there. For long-onlies, I'd still prefer replacing your Tencent with Prosus; or specifically, ~80%...

David Blennerhassett

[Blue Lotus Daily-TMT Update]:UBER US/WRD US/BIDU US/9660HK/XPEV US/NTES/BABA/PDD/3690HK/TCOM /700HK

​Uber partners with WeRide in UAE after previous EV collaboration with BYD, raising questions if it's using China to compete with Tesla.

Blue Lotus Research Institute

LG Electronics India Pre-IPO Tearsheet

LG Electronics (066570 KS) is looking to raise US$1.5bn+ via part-selling its stake in LG Electronics India IPO. The deal will be run by MS, JPM,...

Sumeet Singh

Mao Geping Cosmetics IPO Trading - Highest Demand for This Year

Mao Geping Cosmetics raised around US$345m in its Hong Kong IPO, after pricing at the top-end and upsizing the deal. In this note, we talk about...

Sumeet Singh

EQD | Hong Kong Single Stock Options Weekly Dec 02 - 06

​Market showing strong price action this week with implied vols stabilizing, Tencent sees call buying, Cathay Pacific, HSBC, and BABA all active...

John Ley

Uber partners with WeRide in UAE after previous EV collaboration with BYD, raising questions if it's using China to compete with Tesla.

Market showing strong price action this week with implied vols stabilizing, Tencent sees call buying, Cathay Pacific, HSBC, and BABA all active...