Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Equity Bottom-Up

<ul><li>Top Chinese cloud platforms are supporting DeepSeek as AI changes the landscape of cloud intelligence.</li><li>Meta and Google are pushing forward with smart glasses development, overcoming obstacles in the Asian supply chain.</li><li>SiPh progress is exceeding TSMC's expectations, heating up the optical communication CPO market earlier than anticipated.</li></ul>

Top Chinese cloud platforms are supporting DeepSeek as AI changes the landscape of cloud intelligence.Meta and Google are pushing forward with smart glasses development, overcoming obstacles in the Asian supply chain.SiPh progress is exceeding TSMC's expectations, heating up the optical communication CPO market earlier than anticipated.

Tech Supply Chain Tracker (07-Feb-2025): Chinese cloud giants support DeepSeek as AI revolutionizes cloud.

<ul><li>Honda and Nissan merger talks hit a roadblock as Nissan rejects becoming a subsidiary, stalling negotiations between the automakers.</li><li>Resistance from automakers to Apple's CarPlay 2.0 upgrades is causing challenges in integration, potentially impacting the future of in-car technology.</li><li>SoftBank ends DeepSeek usage in partnership with OpenAI, while Alphabet commends DeepSeek's progress and emphasizes AI efficiency for competitive advantage.</li></ul>

Honda and Nissan merger talks hit a roadblock as Nissan rejects becoming a subsidiary, stalling negotiations between the automakers.Resistance from automakers to Apple's CarPlay 2.0 upgrades is causing challenges in integration, potentially impacting the future of in-car technology.SoftBank ends DeepSeek usage in partnership with OpenAI, while Alphabet commends DeepSeek's progress and emphasizes AI efficiency for competitive advantage.

Tech Supply Chain Tracker (06-Feb-2025): Honda-Nissan merger talks fail as Nissan rejects subsidiary.

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight inflows into Tencent, SMIC, ICBC, China Mobile, Xiaomi and outflows from Meituan.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight inflows into Tencent, SMIC, ICBC, China Mobile, Xiaomi and outflows from Meituan.


Hong Kong Connect Flows (January): $18.1bn Inflows

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Thematic (Sector/Industry)

<ul>
<li>Following on from our last HK piece, we take a closer look at the tech sector</li>
<li>While the overall HSTECH index provides a good risk-reward, some</li>
<li>Individual E-commerce &amp; software names offer much more upside than  downside</li>
</ul>


Following on from our last HK piece, we take a closer look at the tech sector
While the overall HSTECH index provides a good risk-reward, some
Individual E-commerce &amp; software names offer much more upside than  downside


HSTECH Index. Identifying Individual Names with Greater Potential Upside

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Sunny Optical Technology Group / Equity Bottom-Up

<ul>
<li>HK Alpha Portfolio returned -1.29% in December and outperformed the benchmark by 0.34%. The portfolio has outperformed Hong Kong indexes by 7.93% to 9.64% since its inception on 10/01/24.  </li>
<li> About 75% of the portfolio's excess returns have been from alpha generation. The portfolio had no exposure to Real Estate, Energy or Materials. </li>
<li>At month-end we sold <a href="https://www.smartkarma.com/entities/china-cinda-asset-management-co-ltd" target="_blank" data-smartkarma-citation="entities:372:1" rel="noopener">China Cinda Asset Management (1359 HK)</a> , <a href="https://www.smartkarma.com/entities/citic-ltd" target="_blank" data-smartkarma-citation="entities:20590:1" rel="noopener">Citic Ltd (267 HK)</a> , <a href="https://www.smartkarma.com/entities/china-galaxy-securities-co-h" target="_blank" data-smartkarma-citation="entities:165:1" rel="noopener">China Galaxy Securities (H) (6881 HK)</a> and <a href="https://www.smartkarma.com/entities/gds-holdings-ltd" target="_blank" data-smartkarma-citation="entities:32157:1" rel="noopener">GDS Holdings (9698 HK)</a> .  </li>
</ul>


HK Alpha Portfolio returned -1.29% in December and outperformed the benchmark by 0.34%. The portfolio has outperformed Hong Kong indexes by 7.93% to 9.64% since its inception on 10/01/24.  
 About 75% of the portfolio's excess returns have been from alpha generation. The portfolio had no exposure to Real Estate, Energy or Materials.  
At month-end we sold China Cinda Asset Management (1359 HK) , Citic Ltd (267 HK) , China Galaxy Securities (H) (6881 HK) and GDS Holdings (9698 HK) .  


China

Xiaomi Corporation manufactures communication equipment and parts. The Company produces and sells mobile phones, smart phone software,  set-top boxes, and related accessories. Xiaomi markets its products worldwide.

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

Xiaomi (1810 HK)

Tech Supply Chain Tracker (07-Feb-2025): Chinese cloud giants support DeepSeek as AI revolutionizes cloud.

Top Chinese cloud platforms support DeepSeek AI as it shapes cloud intelligence landscape, while Meta and Google push smart glasses forward despite...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (06-Feb-2025): Honda-Nissan merger talks fail as Nissan rejects subsidiary.

Honda and Nissan merger talks stall over subsidiary refusal, automakers resist Apple CarPlay 2.0, SoftBank halts DeepSeek, China smartphone...

Tech Supply Chain Tracker

Hong Kong Connect Flows (January): $18.1bn Inflows

We analyzed the Hong Kong Connect Scheme for January and highlighted flows for Tencent, SMIC, ICBC, China Mobile, Xiaomi and Meituan.

Ke Yan, CFA, FRM

HSTECH Index. Identifying Individual Names with Greater Potential Upside

The initial market reaction to the Deepseek news is to bid up Chinese tech names, both platform and semiconductor-related. The tariff newsflow will...

Rikki Malik

HONG KONG ALPHA PORTFOLIO (January 2025)

Hong Kong Alpha portfolio lost 1.29% in January and outperformed its benchmark. We sold GDS, Citic, Cinda and China Galaxy Securities. We added...

David Mudd

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)