Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Index Rebalance

<ul>
<li>The review period for the March review of the HSCI ended on 31 December. There are a lot of new listings that should be included in the index.</li>
<li>SenseTime is a high probability inclusion to the index, though it will only be added to Stock Connect in July once it completes 6 months and 20 trading days.</li>
<li>Xpeng and Li Auto will be added to Stock Connect in Feb/March if they pass the velocity test. We see Li Auto as failing the test, while Xpeng is close.</li>
</ul>


The review period for the March review of the HSCI ended on 31 December. There are a lot of new listings that should be included in the index.
SenseTime is a high probability inclusion to the index, though it will only be added to Stock Connect in July once it completes 6 months and 20 trading days.
Xpeng and Li Auto will be added to Stock Connect in Feb/March if they pass the velocity test. We see Li Auto as failing the test, while Xpeng is close.


HSCI Index Rebalance and Stock Connect: Plenty of New Listings Should Be Included

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 Energy Solution / Equity Capital Markets

<ul>
<li><strong>Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs.</strong></li>
<li>In Korea, <a href="https://www.smartkarma.com/entities/lg-energy-solution" target="_blank" data-smartkarma-citation="entities:33464:1" rel="noopener">LG Energy Solution (LGENERGY KS)</a> has finally filed its prospectus for US$10.8bn IPO after some delays earlier this year.</li>
<li>Hong Kong IPO sentiment has been abysmal. It was reported that <a href="https://www.smartkarma.com/entities/sensetime-group" target="_blank" data-smartkarma-citation="entities:34319:1" rel="noopener">SenseTime Group (1475539D HK)</a> delayed its IPO after the U.S. ban report.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs.
In Korea, LG Energy Solution (LGENERGY KS) has finally filed its prospectus for US$10.8bn IPO after some delays earlier this year.
Hong Kong IPO sentiment has been abysmal. It was reported that SenseTime Group (1475539D HK) delayed its IPO after the U.S. ban report.


ECM Weekly (12th December 2021) - LG Energy, SenseTime (Delayed), Didi, Kanzhun & Full Truck Lock-Up

Asymchem Laboratories Tianjin / Equity Capital Markets

Asymchem Laboratories Tianjin (002821 CH)

<ul>
<li>Asymchem Laboratories raised around US$1.05bn in its H-share listing in Hong Kong.</li>
<li>AL is a provider of outsourced pharmaceutical development and manufacturing solutions and services. </li>
<li>In this note, we will talk about the subscription levels and trading dynamics.</li>
</ul>


Asymchem Laboratories raised around US$1.05bn in its H-share listing in Hong Kong.
AL is a provider of outsourced pharmaceutical development and manufacturing solutions and services. 
In this note, we will talk about the subscription levels and trading dynamics.


Asymchem Labs A/H Trading - Moderate Demand and Upside

China and US Equity Analyst

Roger Xie

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/weibo-corp-adr" target="_blank" data-smartkarma-citation="entities:3826:1" rel="noopener">Weibo Corp (WB US)</a> announced its Hong Kong offering price at HK$ 272.80 per share, roughly in-line with current trading price of US-listed ADR but lower than initial expectation.</li>
<li>The lukewarm interest from investors underscores the regulatory headwind around one of China largest social media platform, which is unprecedented in our view.</li>
<li>We want to reiterate our bullish view on Weibo, who has amassed 521 million monthly active users. <a href="https://www.smartkarma.com/entities/weibo-corp-adr" target="_blank" data-smartkarma-citation="entities:3826:1" rel="noopener">Weibo Corp (WB US)</a> is traded at forward 15x consensus P/E.</li>
</ul>



Weibo Corp (WB US) announced its Hong Kong offering price at HK$ 272.80 per share, roughly in-line with current trading price of US-listed ADR but lower than initial expectation.
The lukewarm interest from investors underscores the regulatory headwind around one of China largest social media platform, which is unprecedented in our view.
We want to reiterate our bullish view on Weibo, who has amassed 521 million monthly active users. Weibo Corp (WB US) is traded at forward 15x consensus P/E.


Weibo (WB US): Lukewarm Interest for HK Listing, but Good Setup for Long-Term Growth

China

Weibo Corporation operates a leading social media platform in China, enabling users to create, discover, and distribute Chinese-language content. The company primarily generates revenue through advertising and marketing services, alongside value-added services such as membership and online games. It is headquartered in Beijing, China, and was founded in 2009.

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Weibo (9898 HK)

HSCI Index Rebalance and Stock Connect: Plenty of New Listings Should Be Included

There could be up to 34 adds and 22 deletes for the HSCI in March based on market cap, liquidity and prolonged suspensions. A lot of new listings,...

Brian Freitas

ECM Weekly (12th December 2021) - LG Energy, SenseTime (Delayed), Didi, Kanzhun & Full Truck Lock-Up

Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Asymchem Labs A/H Trading - Moderate Demand and Upside

Asymchem Laboratories raised around US$1.05bn in its H-share listing in Hong Kong. In this note, we talk about the trading dynamics.

Sumeet Singh

Weibo (WB US): Lukewarm Interest for HK Listing, but Good Setup for Long-Term Growth

We become more bullish on Weibo (WB US) with valuation at forward 15x consensus P/E, though there is lukewarm interest for its Hong Kong public...

Roger Xie

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