Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Contemporary Amperex Technology (CATL) / Event-Driven

Contemporary Amperex Technology (CATL) (300750 CH)

<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 23.5bn of A-shares on strong average activity after RMB +49bn the previous four trading weeks. More efforts by authorities to eliminate selling.</li>
<li>No finance names of any kind in the top ten this week after 5/10 the week before. Slight tendencies to trade on reversion.</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 23.5bn of A-shares on strong average activity after RMB +49bn the previous four trading weeks. More efforts by authorities to eliminate selling.
No finance names of any kind in the top ten this week after 5/10 the week before. Slight tendencies to trade on reversion.


Mainland Connect NORTHBOUND Flows (To 1 Mar 2024): Foreigners Buy a New Set of Names

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 analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 124.5% as of Mar 1st.</li>
<li>The average A-H premium changed by 1.8ppt week-on-week, led by real estate, health care, information technology and offset by utilities, materials.</li>
<li>We highlight weekly changes in A-H premium for ZTE, China Southern, SMIC, Ganfeng Lithium, Flat Glass Group.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 124.5% as of Mar 1st.
The average A-H premium changed by 1.8ppt week-on-week, led by real estate, health care, information technology and offset by utilities, materials.
We highlight weekly changes in A-H premium for ZTE, China Southern, SMIC, Ganfeng Lithium, Flat Glass Group.


A-H Premium Weekly (Mar 1st): ZTE, China Southern, SMIC, Ganfeng Lithium, Flat Glass Group

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.

Equity Bottom-Up

<ul><li>As the Mobile World Congress (MWC) unfolded in Barcelona on Monday, AI/5G+6G innovations emerged as a dominant theme, with leading suppliers in the telecom industry showcasing their latest technologies.</li><li>ZTE's A-share (000063 CH) and H-share (763 HK) prices surged by 10.0% and 10.6%, respectively, on Tuesday, buoyed by the company's direct involvement in 6G development.</li><li>Maintain BUY on ZTE (000063 CH/763 HK) with unchanged TPs at RMB36.9 and HK$27.4, respectively. </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>

As the Mobile World Congress (MWC) unfolded in Barcelona on Monday, AI/5G+6G innovations emerged as a dominant theme, with leading suppliers in the telecom industry showcasing their latest technologies.ZTE's A-share (000063 CH) and H-share (763 HK) prices surged by 10.0% and 10.6%, respectively, on Tuesday, buoyed by the company's direct involvement in 6G development.Maintain BUY on ZTE (000063 CH/763 HK) with unchanged TPs at RMB36.9 and HK$27.4, respectively. 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.

ZTE (763 HK) - MWC 2024: Industry Moves Towards Developing 6G

<ul>
<li>We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 124.1% as of Feb 2nd.</li>
<li>The average A-H premium changed by -5.6ppt week-on-week, led by consumer staples, information technology, industrials and offset by utilities.</li>
<li>We highlight weekly changes in A-H premium for Haier Smart, Wuxi Apptec, BOC, CGN Power, SMIC, Huaneng Power, China Longyuan.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 124.1% as of Feb 2nd.
The average A-H premium changed by -5.6ppt week-on-week, led by consumer staples, information technology, industrials and offset by utilities.
We highlight weekly changes in A-H premium for Haier Smart, Wuxi Apptec, BOC, CGN Power, SMIC, Huaneng Power, China Longyuan.


A-H Premium Weekly (Feb 2nd): Haier Smart, Wuxi Apptec, BOC, CGN Power, SMIC, Huaneng Power

<ul>
<li>The New/Better A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc. </li>
<li>SOUTHBOUND flows were small positive and NORTHBOUND flows a decent buy. AH premia stopped rising. Chinese shares bounced. SOEs being bought. Tech being sold. Tencent seeing SB outflows, still. </li>
<li>New article in China Securities Journal hints at new measures on SOEs. Watch this space. Wouldn't be short SOEs vs Privates on H/A basis. </li>
</ul>


The New/Better A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc. 
SOUTHBOUND flows were small positive and NORTHBOUND flows a decent buy. AH premia stopped rising. Chinese shares bounced. SOEs being bought. Tech being sold. Tencent seeing SB outflows, still. 
New article in China Securities Journal hints at new measures on SOEs. Watch this space. Wouldn't be short SOEs vs Privates on H/A basis. 


A/H Premium Tracker (To 26 Jan 2024):  AH Premia Still Near Multi-Yr Wides, SOEs May See New Action

China

ZTE Corporation is a Chinese technology company specializing in telecommunications equipment, networking solutions, and mobile devices. It offers a wide range of products including wireless and wireline networks, optical transmission systems, data communication gear, and smartphones under brands like Axon and Nubia. ZTE was founded in 1985 and is headquartered in Shenzhen, Guangdong, China.

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ZTE (763 HK)

Mainland Connect NORTHBOUND Flows (To 1 Mar 2024): Foreigners Buy a New Set of Names

Mainland Connect NORTHBOUND net flows were again heavily to the buy side. This is the fifth week of trading in a row of net buying. Almost every...

Travis Lundy

A-H Premium Weekly (Mar 1st): ZTE, China Southern, SMIC, Ganfeng Lithium, Flat Glass Group

We analyzed A-H premium changes in the past week and highlight A-H premium changes for ZTE, China Southern, SMIC, Ganfeng Lithium, Flat Glass Group.

Ke Yan, CFA, FRM

ZTE (763 HK) - MWC 2024: Industry Moves Towards Developing 6G

ZTE's A-share (000063 CH) and H-share (763 HK) prices surged by 10.0% and 10.6%, respectively, on Tuesday, buoyed by the company's direct...

CMB International

A-H Premium Weekly (Feb 2nd): Haier Smart, Wuxi Apptec, BOC, CGN Power, SMIC, Huaneng Power

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Haier Smart, Wuxi Apptec, BOC, CGN Power, SMIC, Huaneng...

Ke Yan, CFA, FRM

A/H Premium Tracker (To 26 Jan 2024): AH Premia Still Near Multi-Yr Wides, SOEs May See New Action

AH Premia down slightly from multi-year wides a week ago. Chinese shares bounced in HK and mainland. SOEs still seeing SB inflow. Banks & SOEs NB...

Travis Lundy

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