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 the weekly Hong Kong Connect flows with our data engine for holding position as of April 12th.</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 China Mobile, Xiaomi, Bank Of China.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 12th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for China Mobile, Xiaomi, Bank Of China.


Hong Kong Connect Flows (Apr 12th): China Mobile, Xiaomi, Bank Of China

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 22nd.</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 Bank Of China, China Mobile, Xiaomi, Zto Express, Tencent, Meituan.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 22nd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Bank Of China, China Mobile, Xiaomi, Zto Express, Tencent, Meituan.


Hong Kong Connect Flows (Mar 22nd): Bank Of China, China Mobile, Xiaomi, Zto Express, Tencent

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

West China Cement's (WCC) FY 2023 results were soft, but in line with expectations. The company’s profitability in Mainland China continued to weaken, albeit this was partly offset by rising sales volumes and ASP from its African operations. As a result, operating profit in Africa climbed above that for Mainland China for the first time, with the African segment accounting for 31% of total revenue and 74% of operating profit. In our view, the key risk for investors is WCC’s seemingly relentless expansion in Africa, which is likely to further weaken its leverage. Moreover, we are concerned that further expansion in this region will fundamentally change WCC's risk profile from a relatively stable infrastructure-led Chinese business to one that is highly exposed to event risks in frontier markets. The company's African businesses could be exposed to higher geopolitical, regulatory and ESG risks, which are less well understood by investors.

  West China Cement's (WCC) FY 2023 results were soft, but in line with expectations. The company’s profitability in Mainland China continued to weaken, albeit this was partly offset by rising sales volumes and ASP from its African operations. As a result, operating profit in Africa climbed above that for Mainland China for the first time, with the African segment accounting for 31% of total revenue and 74% of operating profit.   In our view, the key risk for investors is WCC’s seemingly relentless expansion in Africa, which is likely to further weaken its leverage. Moreover, we are concerned that further expansion in this region will fundamentally change WCC's risk profile from a relatively stable infrastructure-led Chinese business to one that is highly exposed to event risks in frontier markets. The company's African businesses could be exposed to higher geopolitical, regulatory and ESG risks, which are less well understood by investors. 

West China Cement - Earnings Flash - FY 2023 Results - Lucror Analytics

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 15th.</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 Bank Of China, Tencent, CNOOC, Zto Express, Kuaishou Technology, Anta Sports Products.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 15th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Bank Of China, Tencent, CNOOC, Zto Express, Kuaishou Technology, Anta Sports Products.


Hong Kong Connect Flows (Mar 15th): BOC, Tencent, CNOOC, Zto Express, Kuaishou, Anta Sports

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.<ul><li><a href='#lucror-entity-36725'>Pertamina Geothermal Energy PT</a></li><li><a href='#lucror-entity-13363'>Sunny Optical Technology Group</a></li><li><a href='#lucror-entity-9423'>West China Cement</a></li><li><a href='#lucror-entity-18097'>Yuexiu Property </a></li></ul>

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.Pertamina Geothermal Energy PTSunny Optical Technology GroupWest China CementYuexiu Property 

Morning Views Asia: Pertamina Geothermal Energy PT, Sunny Optical Technology Group, West China Cement

China

West China Cement is a leading manufacturer and supplier of cement and cement products, including ordinary Portland, oil well, and specialized cements, as well as aggregates and commercial concrete. Its products are primarily used in infrastructure projects and housing construction across China, Africa, and Central Asia. The company was incorporated in 2006 and is headquartered in Xi'an, Shaanxi province, China.

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

West China Cement (2233 HK)

Hong Kong Connect Flows (Apr 12th): China Mobile, Xiaomi, Bank Of China

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for China Mobile, Xiaomi, Bank Of China.

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Mar 22nd): Bank Of China, China Mobile, Xiaomi, Zto Express, Tencent

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Bank Of China, China Mobile, Xiaomi, Zto Express, Tencent,...

Ke Yan, CFA, FRM

West China Cement - Earnings Flash - FY 2023 Results - Lucror Analytics

West China Cement's (WCC) FY 2023 results were soft, but in line with expectations. The company’s profitability in Mainland China continued to...

Lucror Analytics

Hong Kong Connect Flows (Mar 15th): BOC, Tencent, CNOOC, Zto Express, Kuaishou, Anta Sports

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Bank Of China, Tencent, CNOOC, Zto Express, Kuaishou, Anta...

Ke Yan, CFA, FRM

Morning Views Asia: Pertamina Geothermal Energy PT, Sunny Optical Technology Group, West China Cement

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)