In today’s briefing:
- Meilan Airport (357 HK)’s Special Deal And Tardy MGO
- Alebund (礼邦生物) Pre-IPO Quick Take: A Niche Renal Specialist
- Chow Tai Fook(1929 HK): Strong Q2 Operations, Tax Challenges, Future Remains Puzzling
- Hong Kong Single Stock Options Weekly (Nov 03–07): Growing Split Between Old and New Economy Sectors
- Expecting Upside to Continue into Early-2026 for Global Equities $ACWI
Meilan Airport (357 HK)’s Special Deal And Tardy MGO
- Back on the 30th April 2025, Hainan Meilan International Airport (357 HK) (“Meilan Airport”) announced a potential change of control, via its domestic shares.
- In principle, this situation involves the re-arrangement of Meilan Airport shares under the same ultimate beneficiary. Nevertheless, the share transfer will trigger an unconditional MGO at HK$10.62/share.
- Yesterday, H-class shareholders approved a “Special Deal” at an EGM. And the share price closed above terms. That vote has nothing to do with the share transfer. Perhaps …
Alebund (礼邦生物) Pre-IPO Quick Take: A Niche Renal Specialist
- Alebund Pharmaceuticals, a China-based clinical-stage biotech company, is looking to raise at least USD 100 million via a Hong Kong listing. Jefferies, BoA, and HTSC are the joint sponsors.
- In this note, we look at the company’s history and its core product, AP301, and AP306.
- We are of the view that the company is worth following.
Chow Tai Fook(1929 HK): Strong Q2 Operations, Tax Challenges, Future Remains Puzzling
- Chow Tai Fook Jewellery (1929 HK) reported strong operational performance for the quarter ended September 2025. This insight shares details about the performance.
- The recent changes in tax incentive will impact jewelry manufacturers. This insight details about this.
- Finally, we cover various points which will drive the near term performance of the company.
Hong Kong Single Stock Options Weekly (Nov 03–07): Growing Split Between Old and New Economy Sectors
- Markets steadied in North America suggesting a firmer open for Hong Kong stock on Monday.
- Hong Kong market breadth improved notably, suggesting broader participation despite uneven performance across sectors.
- Option activity eased slightly, though Call demand remained steady relative to overall volume.
Expecting Upside to Continue into Early-2026 for Global Equities $ACWI
- We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment
- Our bullish near-term outlook will remain in place as long as the 6-month uptrend continues on ACWI-US, which generally coincides with the 50-day MA.
- Short-Term supports to watch on ACWI-US include the 6-month uptrend (currently at $139.40), the 50-day MA (currently $137.95), and $135.70.
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