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 weekly Hong Kong Connect flows with our data engine for holding position as of September 29th.</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 have highlighted flows for Meituan, Tencent, ICBC and Xpeng.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 29th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We have highlighted flows for Meituan, Tencent, ICBC and Xpeng.


Hong Kong Connect Flows (Sep 29th): Meituan, Tencent, ICBC, Xpeng

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<ul><li>China’s passenger-vehicle (PV) retail sales volume rose 2% YoY and 8% MoM to 1.92mn units in Aug 2023, the 3rd highest Aug in history, and 1% higher than our prior forecast.</li><li>YTD retail sales volume rose 3% YoY. Wholesale volume rose 7% YoY and 8% MoM to 2.27mn units in Aug 2023, the best Aug in history, and 2% higher than our prior forecast.</li><li>Wholesale volume rose 7% YoY (or +0.99mn units YoY) YTD, aided by 70% YoY growth (or +1.01mn units YoY) of exports. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

China’s passenger-vehicle (PV) retail sales volume rose 2% YoY and 8% MoM to 1.92mn units in Aug 2023, the 3rd highest Aug in history, and 1% higher than our prior forecast.YTD retail sales volume rose 3% YoY. Wholesale volume rose 7% YoY and 8% MoM to 2.27mn units in Aug 2023, the best Aug in history, and 2% higher than our prior forecast.Wholesale volume rose 7% YoY (or +0.99mn units YoY) YTD, aided by 70% YoY growth (or +1.01mn units YoY) of exports. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Auto Sector – More NEV Model Rollouts as a Positive Catalyst

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>This is the brand spanking new Quiddity HK Connect SOUTHBOUND Monitor. We work off the same presentation as the A/H Premium Monitor and Mainland Connect NORTHBOUND Monitor.</li>
<li>The data on liquid names is presented for 5 days and four weeks and anything seen can be ranked in tables or selected and charted (names, sectors, outperformance, etc).</li>
<li>We like the nifty interactive tables and charts and welcome feedback. This week saw HKD 14.5bn+ of net buying. That makes ten weeks of net inflows.</li>
</ul>


This is the brand spanking new Quiddity HK Connect SOUTHBOUND Monitor. We work off the same presentation as the A/H Premium Monitor and Mainland Connect NORTHBOUND Monitor.
The data on liquid names is presented for 5 days and four weeks and anything seen can be ranked in tables or selected and charted (names, sectors, outperformance, etc).
We like the nifty interactive tables and charts and welcome feedback. This week saw HKD 14.5bn+ of net buying. That makes ten weeks of net inflows.


Quiddity HK Connect SOUTHBOUND Flows (Week to 22Sep23) : China Mobile, Meituan, Xpeng, Banks!

<ul>
<li>This is the brand spanking new Quiddity HK Connect SOUTHBOUND Monitor. We work off the same presentation as the A/H Premium Monitor and Mainland Connect NORTHBOUND Monitor.</li>
<li>The data on liquid names is presented for 5 days and four weeks and anything seen can be ranked in tables or selected and charted (names, sectors, outperformance, etc).</li>
<li>We like the nifty interactive tables and charts and welcome feedback. This week saw RMB 15bn+ of net selling. That's six weeks in a row of respectably large outflows.</li>
</ul>


This is the brand spanking new Quiddity HK Connect SOUTHBOUND Monitor. We work off the same presentation as the A/H Premium Monitor and Mainland Connect NORTHBOUND Monitor.
The data on liquid names is presented for 5 days and four weeks and anything seen can be ranked in tables or selected and charted (names, sectors, outperformance, etc).
We like the nifty interactive tables and charts and welcome feedback. This week saw RMB 15bn+ of net selling. That's six weeks in a row of respectably large outflows.


Quiddity HK Connect SOUTHBOUND Flows (Week to 15Sep23) Banks, Real Estate, Telcos, and Big ETF Sales

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

Equity Capital Markets

IMotion Automotive Technology Suzhou / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/imotion-automotive-technology" target="_blank" data-smartkarma-citation="entities:36900:1" rel="noopener">IMotion Automotive Technology (1812706D CH)</a> is looking to raise about US$100m in its upcoming HK IPO, after downsizing from an earlier reported float of US$300m.</li>
<li>The company possesses advanced full-stack R&amp;D capabilities including self-developed algorithms and hardware-software co-design capabilities. It provides two AD domain controller product lines, and the self-designed iDC series.</li>
<li>We had covered the company’s performance in our earlier notes. In this note, we talk about its PHIP updates.</li>
</ul>



IMotion Automotive Technology (1812706D CH) is looking to raise about US$100m in its upcoming HK IPO, after downsizing from an earlier reported float of US$300m.
The company possesses advanced full-stack R&amp;D capabilities including self-developed algorithms and hardware-software co-design capabilities. It provides two AD domain controller product lines, and the self-designed iDC series.
We had covered the company’s performance in our earlier notes. In this note, we talk about its PHIP updates.


IMotion Automotive Technology Pre-IPO - PHIP Updates - Concentration Risk Even More Apparent Now

China

XPeng Inc. designs, produces, and distributes electric vehicles. The Company designs, develops, manufactures and markets smart smart electric vehicles, as well as finance, parts, and maintenance services. XPeng serves customers in China.

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XPeng (9868 HK)

Hong Kong Connect Flows (Sep 29th): Meituan, Tencent, ICBC, Xpeng

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Meituan, Tencent, ICBC and Xpeng.

Ke Yan, CFA, FRM

China Auto Sector – More NEV Model Rollouts as a Positive Catalyst

China’s passenger-vehicle (PV) retail sales volume rose 2% YoY and 8% MoM to 1.92mn units in Aug 2023, the 3rd highest Aug in history, and 1%...

CMB International

Quiddity HK Connect SOUTHBOUND Flows (Week to 22Sep23) : China Mobile, Meituan, Xpeng, Banks!

Quiddity HK Connect SOUTHBOUND Monitor, offering data on liquid names, interactive tables, and charts. Ten straight weeks of net inflows into Hong...

Travis Lundy

Quiddity HK Connect SOUTHBOUND Flows (Week to 15Sep23) Banks, Real Estate, Telcos, and Big ETF Sales

This is the brand spanking new Quiddity Hong Kong Connect SOUTHBOUND Monitor. Tables and charts of flows and positions on the largest and most...

Travis Lundy

IMotion Automotive Technology Pre-IPO - PHIP Updates - Concentration Risk Even More Apparent Now

IMotion Automotive Technology (1812706D CH) is looking to raise about US$100m in its upcoming HK IPO, after downsizing from US$300m. In this note,...

Ethan Aw

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