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 analyse the changes of A-H premium on 147 stocks over the last week. The average A-H premium was 123.5% as of Apr 26th.</li>
<li>The average A-H premium changed by -8.5ppt week-on-week, led by consumer staples, financials, real estate.</li>
<li>We highlight weekly changes in A-H premium for Zoomlion, Sinotrans, Remegen.</li>
</ul>


We analyse the changes of A-H premium on 147 stocks over the last week. The average A-H premium was 123.5% as of Apr 26th.
The average A-H premium changed by -8.5ppt week-on-week, led by consumer staples, financials, real estate.
We highlight weekly changes in A-H premium for Zoomlion, Sinotrans, Remegen.


A-H Premium Weekly (Apr 26th): Zoomlion, Sinotrans, Remegen

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 26th.</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, China Mobile, HKEx, Zto Express, Meituan, HSBC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 26th.
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, China Mobile, HKEx, Zto Express, Meituan, HSBC.


Hong Kong Connect Flows (Apr 26th): BOC, Tencent, China Mobile, HKEx, ZTO, Meituan, HSBC

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of April 26th.</li>
<li>We estimate the weekly inflows to be US$3,861.7 million, led by consumer staples, financials, materials sectors, and offset by communication services.</li>
<li>We highlight flows for CMB, Moutai, Ping An Insurance, Wuliangye, CATL, Mindray, Luxshare Precision, Eoptolink Technology Inc.,, Imeik Technology Development, Zijin Mining, Bank Of Jiangsu, Midea.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of April 26th.
We estimate the weekly inflows to be US$3,861.7 million, led by consumer staples, financials, materials sectors, and offset by communication services.
We highlight flows for CMB, Moutai, Ping An Insurance, Wuliangye, CATL, Mindray, Luxshare Precision, Eoptolink Technology Inc.,, Imeik Technology Development, Zijin Mining, Bank Of Jiangsu, Midea.


Northbound Flows (Apr 26th): CMB, Moutai, Ping An Insurance, Wuliangye, CATL, Mindray, Luxshare

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>A shares were up small on the week, largely due to a big rally on Friday (led by record Northbound buying). HK Stocks had a HUGE week. </li>
<li>Net SOUTHBOUND buying was +HK10.3bn. Net buys every day and now 20 days straight, but buying was foreign-led.</li>
<li>Little market news. More geopolitical news. Big SOE bank H-shares see relentless buying. HSTECH +13.4%, HSI +8.8%, HSCEI +9.1%.</li>
</ul>


A shares were up small on the week, largely due to a big rally on Friday (led by record Northbound buying). HK Stocks had a HUGE week. 
Net SOUTHBOUND buying was +HK10.3bn. Net buys every day and now 20 days straight, but buying was foreign-led.
Little market news. More geopolitical news. Big SOE bank H-shares see relentless buying. HSTECH +13.4%, HSI +8.8%, HSCEI +9.1%.


HK Connect SOUTHBOUND Flows (To 26 Apr 2024); Strong Net Buying on Banks/Energy Telco SOEs. Again.

<ul>
<li>The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.</li>
<li>Last week saw NORTHBOUND net BUY RMB 25+bn of A-shares on low gross volume but a huge Friday playing catchup to a massive up-week in HK shares. </li>
<li>H outperformed As and it feels like the massive day Friday was just to play reversion on underperformance vs HK shares.</li>
</ul>


The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.
Last week saw NORTHBOUND net BUY RMB 25+bn of A-shares on low gross volume but a huge Friday playing catchup to a massive up-week in HK shares. 
H outperformed As and it feels like the massive day Friday was just to play reversion on underperformance vs HK shares.


Mainland Connect NORTHBOUND Flows (To 26 Apr 2024): Big NB Buy Friday

China

Zijin Mining Group Co., Ltd., through its subsidiaries, explores, mines, produces, refines, and sells gold and other mineral resources in China.

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Zijin Mining Group Co Ltd H (2899 HK)

A-H Premium Weekly (Apr 26th): Zoomlion, Sinotrans, Remegen

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Zoomlion Heavy, Sinotrans, Remegen.

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Apr 26th): BOC, Tencent, China Mobile, HKEx, ZTO, Meituan, HSBC

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

Ke Yan, CFA, FRM

Northbound Flows (Apr 26th): CMB, Moutai, Ping An Insurance, Wuliangye, CATL, Mindray, Luxshare

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for CMB, Moutai, Ping An Insurance, Wuliangye, CATL,...

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (To 26 Apr 2024); Strong Net Buying on Banks/Energy Telco SOEs. Again.

A decent flow week. Net buying every day. That's 20 days in a row. Some may be Central Huijin buying. HK stocks had a HUGE up week. It was probably...

Travis Lundy

Mainland Connect NORTHBOUND Flows (To 26 Apr 2024): Big NB Buy Friday

A big net buy week for NORTHBOUND Mainland Connect on relatively low gross volume, indicating a soft week but big allocation Friday. Probably...

Travis Lundy

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