Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
  <li>
<a href="https://smartkarma.com/entities/tianneng-power-international-limited">Tianneng Power</a> is a dominant player in China's lead-acid battery market for light electric vehicles (LEVs), boasting an extensive distribution network and significant market share.</li>
  <li>The company is navigating a challenging transition, with recent financial performance showing revenue contraction and margin pressure, likely due to shifts in product mix, raw material volatility, and intense competition.</li>
  <li>Future growth hinges on the successful expansion into higher-growth segments like lithium-ion batteries, energy storage solutions, and leveraging its established battery recycling infrastructure to create a closed-loop, sustainable business model.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
Tianneng Power is a dominant player in China's lead-acid battery market for light electric vehicles (LEVs), boasting an extensive distribution network and significant market share.
  The company is navigating a challenging transition, with recent financial performance showing revenue contraction and margin pressure, likely due to shifts in product mix, raw material volatility, and intense competition.
  Future growth hinges on the successful expansion into higher-growth segments like lithium-ion batteries, energy storage solutions, and leveraging its established battery recycling infrastructure to create a closed-loop, sustainable business model.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Tianneng Power (819 HK) - Aug 2026

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 analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 11th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Smic, Bidu, Hua Hong Semi, Zj Innolight, Xiaomi, Tencent, China Mobile, Innovent Bio, Zijin Mining.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 11th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Smic, Bidu, Hua Hong Semi, Zj Innolight, Xiaomi, Tencent, China Mobile, Innovent Bio, Zijin Mining.


HK Connect Flows Weekly (Sep 11th): Smic, Bidu, Hua Hong Semi, Zj Innolight, Xiaomi, Tencent

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 4th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Zj Innolight, Tencent, AIA, Minimax, Knowledge Atlas, Yofc, Hua Hong Semi, CCB, Alibaba, ICBC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 4th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Zj Innolight, Tencent, AIA, Minimax, Knowledge Atlas, Yofc, Hua Hong Semi, CCB, Alibaba, ICBC.


HK Connect Flows Weekly (Sep 4th): Zj Innolight, Tencent, AIA, Minimax, Knowledge Atlas, Yofc, CCB

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

<ul>
<li>The MSCI EM vs.EAFE ratio (local currency) shows EM has outperformed relative to EAFE since the DXY peaked in November 2022, and also shows signs of reversing the 2-year downtrend.</li>
<li>As long as the DXY remains below $103.50-$106, we expect outperformance from EM to continue.</li>
<li>China/Hong Kong, Greece, South Africa, and Mexico stand out as attractive countries. Our top actionable Sectors include Communications, Consumer Discretionary, and Technology. We highlight 76 attractive EM stocks.</li>
</ul>


The MSCI EM vs.EAFE ratio (local currency) shows EM has outperformed relative to EAFE since the DXY peaked in November 2022, and also shows signs of reversing the 2-year downtrend.
As long as the DXY remains below $103.50-$106, we expect outperformance from EM to continue.
China/Hong Kong, Greece, South Africa, and Mexico stand out as attractive countries. Our top actionable Sectors include Communications, Consumer Discretionary, and Technology. We highlight 76 attractive EM stocks.


EM Outperformance to Continue (Vs. EAFE) -- Add on a Pullback; DXY Needs to Hold Below $106

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

<ul>
<li>Taking into account the 66% ownership in Tongda Smart Tech, the market essentially is placing a negative value of the parent company business.</li>
<li>
<a href="https://www.smartkarma.com/entities/tongda-group-holdings-limited" target="_blank" data-smartkarma-citation="entities:18625:1" rel="noopener">Tongda Group (698 HK)</a> case is a bit similar to <a href="https://www.smartkarma.com/entities/wasion-holdings-limited" target="_blank" data-smartkarma-citation="entities:421:1" rel="noopener">Wasion (3393 HK)</a> but operationally a little diferent. </li>
<li>Despite the valuation gap, it is relatively low-probability that management will conduct a share buyback or resume dividend payments to increase shareholders' confidence. </li>
</ul>


Taking into account the 66% ownership in Tongda Smart Tech, the market essentially is placing a negative value of the parent company business.

Tongda Group (698 HK) case is a bit similar to Wasion (3393 HK) but operationally a little diferent. 
Despite the valuation gap, it is relatively low-probability that management will conduct a share buyback or resume dividend payments to increase shareholders' confidence. 


Tongda (698): Stub, Long Dated, OTM Call Option

Hong Kong

Tianneng Power is a leading new energy group focused on the manufacturing and services of motive batteries for light electric vehicles, as well as the research, development, production, and sale of various other battery types, including start-stop and energy storage batteries. The company also engages in the recycling of waste batteries and renewable resources. Founded in 1986, its headquarters are located in Hong Kong.

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Tianneng Power (819 HK)

Primer: Tianneng Power (819 HK) - Aug 2026

Tianneng Power is a dominant player in China's lead-acid battery market for light electric vehicles (LEVs), boasting an extensive distribution...

αSK Primers

HK Connect Flows Weekly (Sep 11th): Smic, Bidu, Hua Hong Semi, Zj Innolight, Xiaomi, Tencent

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Smic, Bidu, Hua Hong Semi, Zj Innolight, Xiaomi, Tencent,...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Sep 4th): Zj Innolight, Tencent, AIA, Minimax, Knowledge Atlas, Yofc, CCB

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Zj Innolight, Tencent, AIA, Minimax, Knowledge Atlas,...

Ke Yan, CFA, FRM

EM Outperformance to Continue (Vs. EAFE) -- Add on a Pullback; DXY Needs to Hold Below $106

EM vs. EAFE ratio (local currency) shows EM has outperformed relative to EAFE since the $DXY peaked in November 2022. If the DXY remains below...

Vermilion Research

Tongda (698): Stub, Long Dated, OTM Call Option

Market is undervaluing Tongda Group due to negative value placed on parent company business, similar to Wasion case but with operational...

Henry Soediarko

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Primer: Tianneng Power (819 HK) - Aug 2026

Tianneng Power is a dominant player in China's lead-acid battery market for light electric vehicles (LEVs), boasting an extensive distribution...

αSK Primers

HK Connect Flows Weekly (Sep 11th): Smic, Bidu, Hua Hong Semi, Zj Innolight, Xiaomi, Tencent

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Smic, Bidu, Hua Hong Semi, Zj Innolight, Xiaomi, Tencent,...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Sep 4th): Zj Innolight, Tencent, AIA, Minimax, Knowledge Atlas, Yofc, CCB

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Zj Innolight, Tencent, AIA, Minimax, Knowledge Atlas,...

Ke Yan, CFA, FRM

EM Outperformance to Continue (Vs. EAFE) -- Add on a Pullback; DXY Needs to Hold Below $106

EM vs. EAFE ratio (local currency) shows EM has outperformed relative to EAFE since the $DXY peaked in November 2022. If the DXY remains below...

Vermilion Research

Tongda (698): Stub, Long Dated, OTM Call Option

​Market is undervaluing Tongda Group due to negative value placed on parent company business, similar to Wasion case but with operational...

Henry Soediarko

Market is undervaluing Tongda Group due to negative value placed on parent company business, similar to Wasion case but with operational...