APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zjld-group" target="_blank" data-smartkarma-citation="entities:36734:1" rel="noopener">ZJLD Group (ZJLD HK)</a> is looking to raise up to US$400m in its upcoming Hong Kong IPO.</li>
<li>ZJLD is a Chinese liquor company primarily producing baijiu. As per F&amp;S, the firm was the fourth largest privately-owned baijiu company in terms of FY21 sales.</li>
<li>In this note, we will talk about the not-so-positive aspects of the deal.</li>
</ul>



ZJLD Group (ZJLD HK) is looking to raise up to US$400m in its upcoming Hong Kong IPO.
ZJLD is a Chinese liquor company primarily producing baijiu. As per F&amp;S, the firm was the fourth largest privately-owned baijiu company in terms of FY21 sales.
In this note, we will talk about the not-so-positive aspects of the deal.


ZJLD Group Pre-IPO - The Negatives - Small Fish in a Big Pond. Drunk on Inventory Buildup

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zjld-group" target="_blank" data-smartkarma-citation="entities:36734:1" rel="noopener">ZJLD Group (ZJLD HK)</a> is looking to raise up to US$400m in its upcoming Hong Kong IPO</li>
<li>ZJLD is a Chinese liquor company primarily producing baijiu. As per F&amp;S, the firm was the fourth largest privately-owned baijiu company in terms of FY21 sales.</li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>



ZJLD Group (ZJLD HK) is looking to raise up to US$400m in its upcoming Hong Kong IPO
ZJLD is a Chinese liquor company primarily producing baijiu. As per F&amp;S, the firm was the fourth largest privately-owned baijiu company in terms of FY21 sales.
In this note, we will talk about the positive aspects of the deal.


ZJLD Group Pre-IPO - The Positives - Larger Network Led to Sales Growth. Poised for Market Tailwind

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry</li>
<li>Overall, net inflow over the past week was ~US$0.7bn, split between Shanghai (US$0.3bn) and Shenzhen (US$0.4bn).</li>
<li>The largest inflows were into <a href="https://www.smartkarma.com/entities/gree-electric-appliances-inc-of-zhuhai" target="_blank" data-smartkarma-citation="entities:7622:1" rel="noopener">Gree Electric Appliances (000651 CH)</a> and <a href="https://www.smartkarma.com/entities/contemporary-amperex-techn-a" target="_blank" data-smartkarma-citation="entities:24404:1" rel="noopener">CATL (300750 CH)</a>. The largest outflows were in <a href="https://www.smartkarma.com/entities/industrial-bank-co-ltd" target="_blank" data-smartkarma-citation="entities:19515:1" rel="noopener">Industrial Bank (601166 CH)</a> and <a href="https://www.smartkarma.com/entities/china-merchants-bank-co-ltd" target="_blank" data-smartkarma-citation="entities:714:1" rel="noopener">China Merchants Bank (600036 CH)</a>.</li>
</ul>


Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry
Overall, net inflow over the past week was ~US$0.7bn, split between Shanghai (US$0.3bn) and Shenzhen (US$0.4bn).
The largest inflows were into Gree Electric Appliances (000651 CH) and CATL (300750 CH). The largest outflows were in Industrial Bank (601166 CH) and China Merchants Bank (600036 CH).


Shanghai/​​​​​​​​​​​Shenzhen Northbound Connect: Weekly Moves (2 September 2022)

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Thematic (Sector/Industry)

<ul>
<li>While continual Covid-19 outbreaks continue to make their mark on earnings season, one commodity is still raking in cash: top-shelf baijiu.</li>
<li>Shrugging off years of official probes into the notoriously graft-plagued industry, luxury brands like Moutai and Wuliangye made a head-spinning amount of money in the first six months of 2022.</li>
<li>In the first half of 2022, Kweichow Moutai Co. Ltd. and Wuliangye Yibin Co. Ltd. retained their long-standing No. 1 and No. 2 positions in the market.</li>
</ul>


While continual Covid-19 outbreaks continue to make their mark on earnings season, one commodity is still raking in cash: top-shelf baijiu.
Shrugging off years of official probes into the notoriously graft-plagued industry, luxury brands like Moutai and Wuliangye made a head-spinning amount of money in the first six months of 2022.
In the first half of 2022, Kweichow Moutai Co. Ltd. and Wuliangye Yibin Co. Ltd. retained their long-standing No. 1 and No. 2 positions in the market.


China’s Big Brand Baijiu-Makers Have a Toast-Worthy First Half

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

Luzhou Laojiao Co Ltd A / Equity Bottom-Up

<ul>
<li>Baijiu, the most popular liquor in China, is perhaps one of the most addictive and profitable alcoholic beverages in this planet.</li>
<li>The focus of this insight is a pair trade (go long on Luzhou Laojiao and go short on Jiangsu Yanghe Brewery).</li>
<li>The major reasons for this pair trade include higher sales growth rate and ROE for Luzhou Laojiao as well as capitalize on the recent share weakness of Luzhou vs Jiangsu.</li>
</ul>


Baijiu, the most popular liquor in China, is perhaps one of the most addictive and profitable alcoholic beverages in this planet.
The focus of this insight is a pair trade (go long on Luzhou Laojiao and go short on Jiangsu Yanghe Brewery).
The major reasons for this pair trade include higher sales growth rate and ROE for Luzhou Laojiao as well as capitalize on the recent share weakness of Luzhou vs Jiangsu.


China Beverage: Baijiu - The Most Addictive & Profitable Alcoholic Beverage in This Planet?

China

Jiangsu Yanghe Brewery Joint-Stock Company Ltd. manufactures spirits. The Company's products include white spirits, top-graded gifts liquor, and liquor for daily consumption.

Price Gauge
52-week Range	0.00 - 0.00
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Dividend (Yield)	0.00

Jiangsu Yanghe Brewery A (002304 CH)

ZJLD Group Pre-IPO - The Negatives - Small Fish in a Big Pond. Drunk on Inventory Buildup

ZJLD Group (ZJLD HK) is looking to raise up to US$400m in its upcoming Hong Kong IPO. In this note, we will talk about the not-so-positive aspects...

Clarence Chu

ZJLD Group Pre-IPO - The Positives - Larger Network Led to Sales Growth. Poised for Market Tailwind

ZJLD Group (ZJLD HK) is looking to raise up to US$400m in its upcoming Hong Kong IPO. In this note, we will talk about the positive aspects of the...

Clarence Chu

Shanghai/Shenzhen Northbound Connect: Weekly Moves (2 September 2022)

Overall, net inflow over the past week in the HK -Shanghai-Shenzhen Northbound Connect facilities was ~US$0.7bn, split between Shanghai (+US$0.3bn)...

David Blennerhassett

China’s Big Brand Baijiu-Makers Have a Toast-Worthy First Half

While continual Covid-19 outbreaks continue to make their mark on earnings season, one commodity is still raking in cash: top-shelf baijiu.

Caixin Global

China Beverage: Baijiu - The Most Addictive & Profitable Alcoholic Beverage in This Planet?

Baijiu, the most popular liquor in China, is perhaps one of the most addictive and profitable alcoholic beverages in this planet. We discuss a pair...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ZJLD Group Pre-IPO - The Negatives - Small Fish in a Big Pond. Drunk on Inventory Buildup

ZJLD Group (ZJLD HK) is looking to raise up to US$400m in its upcoming Hong Kong IPO. In this note, we will talk about the not-so-positive aspects...

Clarence Chu

ZJLD Group Pre-IPO - The Positives - Larger Network Led to Sales Growth. Poised for Market Tailwind

ZJLD Group (ZJLD HK) is looking to raise up to US$400m in its upcoming Hong Kong IPO. In this note, we will talk about the positive aspects of the...

Clarence Chu

Shanghai/​​​​​​​​​​​Shenzhen Northbound Connect: Weekly Moves (2 September 2022)

Overall, net inflow over the past week in the HK -Shanghai-Shenzhen Northbound Connect facilities was ~US$0.7bn, split between Shanghai (+US$0.3bn)...

David Blennerhassett

China’s Big Brand Baijiu-Makers Have a Toast-Worthy First Half

While continual Covid-19 outbreaks continue to make their mark on earnings season, one commodity is still raking in cash: top-shelf baijiu.

Caixin Global

China Beverage: Baijiu - The Most Addictive & Profitable Alcoholic Beverage in This Planet?

Baijiu, the most popular liquor in China, is perhaps one of the most addictive and profitable alcoholic beverages in this planet. We discuss a pair...

Douglas Kim

Shanghai/Shenzhen Northbound Connect: Weekly Moves (2 September 2022)