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Aequitas Research

Aequitas Research
IPOs and Placements coverage across Asia Pacific

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17 Dec 2025 10:00

Nanhua Futures A/H Listing: Some near Term Domestic Weakness

​Nanhua Futures Co Ltd plans to raise $220m in Hong Kong IPO. It is a futures company in China, offering global financial services. This note...

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17 Dec 2025 10:00

Shanghai Forest Cabin PHIP Update: Strong Topline and Margins in 1H25

​Shanghai Forest Cabin Biological-Tech (SFCBT HK) aims to raise US$140m in Hong Kong IPO, leading in China's premium skincare market with a focus...

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17 Dec 2025 10:00

Hanx Biopharm (翰思爱泰) Pre-IPO Quick Comment: Innovative I/O Product with Early Signals

​China-based biotech company Hanx Biopharm seeks to raise $100 million through a Hong Kong listing. We assessed the selling point of its core...

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17 Dec 2025 09:48

Zhejiang Sanhua Intelligent Controls IPO Lockup - US$800m Cornerstone Release

Zhejiang Sanhua Intelligent Controls (2050 HK), raised around US$1.4bn in its H-share listing. The lockup on its cornerstone investors is set to...

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bearishHashKey
17 Dec 2025 08:20

Hashkey Group IPO Trading: Muted Insti Demand

​HashKey Holdings raised around US$200m in its Hong Kong IPO, operating the largest licensed crypto exchange in the region. This note discusses the...

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