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 October 24th.</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, CNOOC, Pop Mart Intl, Duality Biotherapeutics, China Mobile, Meituan, SMIC, Laopu Gold.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 24th.
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, CNOOC, Pop Mart Intl, Duality Biotherapeutics, China Mobile, Meituan, SMIC, Laopu Gold.


HK Connect Flows Weekly (Oct 24th): Alibaba, CNOOC, Pop Mart Intl, Duality Biotherapeutics

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>
<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> is on a halt “<em>pending the release of an announcement pursuant to the Code on Takeovers and Mergers which contains inside information of the Company.</em>” </li>
<li>I expect the halt is related to a potential privatisation bid from either a trade buyer, such as one of the Tongda operators, or an MBO sponsored by Centurium Capital.</li>
<li>I use several methods to triangulate the likely offer price, which suggests a range of HK$11.34-11.80 per share, with an average of HK$11.55, a 14% premium to the last close.</li>
</ul>



ANE Cayman Inc (9956 HK) is on a halt “pending the release of an announcement pursuant to the Code on Takeovers and Mergers which contains inside information of the Company.” 
I expect the halt is related to a potential privatisation bid from either a trade buyer, such as one of the Tongda operators, or an MBO sponsored by Centurium Capital.
I use several methods to triangulate the likely offer price, which suggests a range of HK$11.34-11.80 per share, with an average of HK$11.55, a 14% premium to the last close.


ANE Cayman (9956 HK): Trade Buyer or Centurium Capital to Launch a Privatisation Offer?

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 3rd.</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, Tencent, Horizon Robotics, Xiaomi, SMIC, China Mobile, CCB.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 3rd.
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, Tencent, Horizon Robotics, Xiaomi, SMIC, China Mobile, CCB.


HK Connect Flows Weekly (Oct 3rd): Alibaba, Tencent, Horizon Robotics, Xiaomi, SMIC, China Mobile

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 19th.</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, Beigene, China Pacific Insurance, Duality Biotherapeutics, Xiaomi, Tencent, ICBC, Great Wall Motor.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 19th.
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, Beigene, China Pacific Insurance, Duality Biotherapeutics, Xiaomi, Tencent, ICBC, Great Wall Motor.


HK Connect Flows Weekly (Sep 19th): Alibaba, Beigene, China Pacific Insurance

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 12th.</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, Horizon Robotics, Pop Mart Intl, BYD, Meituan, Ping An Insurance, Akeso, China Telecom, Xiaomi, Kuaishou.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 12th.
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, Horizon Robotics, Pop Mart Intl, BYD, Meituan, Ping An Insurance, Akeso, China Telecom, Xiaomi, Kuaishou.


HK Connect Flows Weekly (Sep 12th): Alibaba, Horizon Robotics, Pop Mart Intl, BYD, Meituan

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.

Price Gauge
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ZTO Express (2057 HK)

HK Connect Flows Weekly (Oct 24th): Alibaba, CNOOC, Pop Mart Intl, Duality Biotherapeutics

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, CNOOC, Pop Mart Intl, Duality Biotherapeutics,...

Ke Yan, CFA, FRM

ANE Cayman (9956 HK): Trade Buyer or Centurium Capital to Launch a Privatisation Offer?

On 17 September, the Board received a conditional privatisation proposal from Centurium Capital and Temasek. No price was disclosed. Nearly a month...

Arun George

HK Connect Flows Weekly (Oct 3rd): Alibaba, Tencent, Horizon Robotics, Xiaomi, SMIC, China Mobile

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

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Sep 19th): Alibaba, Beigene, China Pacific Insurance

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, Beigene, China Pacific Insurance, Duality...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Sep 12th): Alibaba, Horizon Robotics, Pop Mart Intl, BYD, Meituan

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba (9988 HK), Horizon Robotics (9660 HK), Pop Mart...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)