IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>The precondition for the consortium’s privatisation offer for <a href="https://www.smartkarma.com/entities/ane-cayman-inc" target="_blank" data-smartkarma-citation="entities:35025:1" rel="noopener">ANE Cayman Inc (9956 HK)</a> has been satisfied. The right to increase the share alternative cap was also satisfied. </li>
<li>The consortium has until 12 December to decide whether to increase the share cap. The option helps the consortium gain support from shareholders who would not accept the cash offer. </li>
<li>The scheme vote remains low risk, as the offer is attractive relative to historical ranges and peer multiples. The de-rating of peers is also helpful. </li>
</ul>


The precondition for the consortium’s privatisation offer for ANE Cayman Inc (9956 HK) has been satisfied. The right to increase the share alternative cap was also satisfied. 
The consortium has until 12 December to decide whether to increase the share cap. The option helps the consortium gain support from shareholders who would not accept the cash offer. 
The scheme vote remains low risk, as the offer is attractive relative to historical ranges and peer multiples. The de-rating of peers is also helpful. 


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 November 28th.</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 Alibaba, Kuaishou, CMB, Tencent, SMIC, Xiaomi.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 28th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Alibaba, Kuaishou, CMB, Tencent, SMIC, Xiaomi.


HK Connect Flows Weekly (Nov 28th): Alibaba, Kuaishou, CMB, Tencent, SMIC, Xiaomi

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 21st.</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 Alibaba, Xiaomi, Xpeng, CCB, SMIC, China Shenhua Energy.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 21st.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Alibaba, Xiaomi, Xpeng, CCB, SMIC, China Shenhua Energy.


HK Connect Flows Weekly (Nov 21st): Alibaba, Xiaomi, Xpeng, CCB, SMIC, China Shenhua Energy

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 14th.</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 Alibaba, Xiaomi, CNOOC, ICBC, Ping An Insurance, Petrochina.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 14th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Alibaba, Xiaomi, CNOOC, ICBC, Ping An Insurance, Petrochina.


HK Connect Flows Weekly (Nov 14th): Alibaba, Xiaomi, CNOOC, ICBC, Ping An Insurance, Petrochina

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 7th.</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 Xiaomi, CNOOC, SMIC, Meituan, ICBC, China Mobile, Tencent, Hua Hong Semiconductor.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 7th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Xiaomi, CNOOC, SMIC, Meituan, ICBC, China Mobile, Tencent, Hua Hong Semiconductor.


HK Connect Flows Weekly (Nov 7th): Xiaomi, CNOOC, SMIC, Meituan, ICBC, China Mobile, Tencent

China

ZTO Express provides express delivery and other value-added logistics services in the People's Republic of China, including freight forwarding, warehousing, distribution, and transportation. The company operates a technology-enabled network partner model for line-haul transportation, sorting, and last-mile delivery. It was founded in 2002 and is headquartered in Shanghai, China.

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ZTO Express (2057 HK)

ANE (9956 HK): Precondition Satisfied

The vote remains low risk, as the offer is attractive. The de-rating of peers is also helpful. At last close, the gross/annualised spread was 5.5%...

Arun George

HK Connect Flows Weekly (Nov 28th): Alibaba, Kuaishou, CMB, Tencent, SMIC, Xiaomi

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, Kuaishou, CMB, Tencent, SMIC, Xiaomi.

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Nov 21st): Alibaba, Xiaomi, Xpeng, CCB, SMIC, China Shenhua Energy

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, Xiaomi, Xpeng, CCB, SMIC, China Shenhua Energy.

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Nov 14th): Alibaba, Xiaomi, CNOOC, ICBC, Ping An Insurance, Petrochina

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, Xiaomi, CNOOC, ICBC, Ping An Insurance, Petrochina.

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Nov 7th): Xiaomi, CNOOC, SMIC, Meituan, ICBC, China Mobile, Tencent

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Xiaomi, CNOOC, SMIC, Meituan, ICBC, China Mobile,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)