In today’s briefing:
- China Healthcare Weekly (Oct.6) – Weight Loss Drug CXO, Policy-Guided Capital Flows, 3D Medicines
- (Mostly) Asia-Pac Weekly Risk Arb Wrap: EOFlow, Newcrest, JMDC, Boustead Plantation, Symbio, Aeon
- Issues with Content of Disclosures, Not Keyword Searches in TCFD
China Healthcare Weekly (Oct.6) – Weight Loss Drug CXO, Policy-Guided Capital Flows, 3D Medicines
- Weight loss drug business has indeed significantly alleviated concerns about overcapacity issue in those leading CDMOs, but they do not have such a strong driving force on CROs.
- The last straw that hits an industry is often not due to the disappearance of demographic dividends/declining demand/poor financial performance of companies, etc., but rather to policy-guided capital flows.
- 3D Medicines (1244 HK) can be said a typical negative example in biopharmaceutical industry, and it is easy to be “manipulated”. We recommend investors stay away from such high-risk company.
(Mostly) Asia-Pac Weekly Risk Arb Wrap: EOFlow, Newcrest, JMDC, Boustead Plantation, Symbio, Aeon
- I tally 47 – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
- Two new deals were discussed on Smartkarma this week: Haitong International Securities Group (665 HK)‘s Scheme; and Aeon Co (8267 JP)‘s partial. Arguably, Boustead Plantations (BPLANT MK)received another offer.
- Key updates took place for: EOFlow (294090 KS), Newcrest Mining (NCM AU), JMDC (4483 JP), Boustead Plantations (BPLANT MK), Symbio Holdings (SYM AU), and T&K Toka Co Ltd (4636 JP).
Issues with Content of Disclosures, Not Keyword Searches in TCFD
- Japan has the largest number of TCFD endorsing institutions in the world, and the number of listed companies endorsing the TCFD has increased by 350 since last year.
- It’s hoped that more companies will follow the example of those that disclosed specific climate change impact estimates under certain conditions, and that other companies will attempt to do so.
- There are many companies that have endorsed TCFD, but have only endorsed it and not disclosed it, so the issue isn’t about endorsing TCFD, but about the content of disclosure.
💡 Before it’s here, it’s on Smartkarma
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