Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric</a> is looking to raise about US$1bn in its upcoming India IPO.</li>
<li>Ola Electric Mobility is a vertically integrated pure EV player in India with manufacturing capabilities for EVs and EV components, including cells.</li>
<li>In our previous note we looked at the company’s past performance and undertook a peer comparison. In this note, we will talk about valuations.</li>
</ul>



Ola Electric is looking to raise about US$1bn in its upcoming India IPO.
Ola Electric Mobility is a vertically integrated pure EV player in India with manufacturing capabilities for EVs and EV components, including cells.
In our previous note we looked at the company’s past performance and undertook a peer comparison. In this note, we will talk about valuations.


Ola Electric Pre-IPO - Initial Thoughts on Valuation

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Cambricon Technologies  Lt / Event-Driven

<ul>
<li>The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.</li>
<li>Last week saw NORTHBOUND net SELL RMB 11.4bn of A-shares. NORTHBOUND sold everything. Seemed somewhat cap-weighted. Not a pretty flow picture. </li>
<li>A-Shares sharply underperformed HK indices, but AH spreads didn't recover the prior week's disaster. That said, there WAS dip-buying this week on the worst hit, which is unusual recently.</li>
</ul>


The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.
Last week saw NORTHBOUND net SELL RMB 11.4bn of A-shares. NORTHBOUND sold everything. Seemed somewhat cap-weighted. Not a pretty flow picture. 
A-Shares sharply underperformed HK indices, but AH spreads didn't recover the prior week's disaster. That said, there WAS dip-buying this week on the worst hit, which is unusual recently.


Mainland Connect NORTHBOUND Flows (To 19 July 2024): A Big Broad Sell in Third Plenum Week

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jul 19th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Ping An, Meituan, China Mobile, HSBC, Haidilao, Picc P&amp;C, Gwmotor, Psbc.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jul 19th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Ping An, Meituan, China Mobile, HSBC, Haidilao, Picc P&amp;C, Gwmotor, Psbc.


HK Short Interest Weekly: Ping An, Meituan, China Mobile, HSBC, Haidilao, Picc P&C, Gwmotor, Psbc

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>1810 HK/AAPL: Xiaomi’s China unit volume grew 17% yoy in 2Q (+/-)</li>
<li>1810 HK: Xiaomi acquires more land to build another EV factory (+)</li>
<li>981 HK/1810 HK: SMIC’s upcoming “5nm” process to feature significant efficiency improvement (+/-)</li>
</ul>


1810 HK/AAPL: Xiaomi’s China unit volume grew 17% yoy in 2Q (+/-)
1810 HK: Xiaomi acquires more land to build another EV factory (+)
981 HK/1810 HK: SMIC’s upcoming “5nm” process to feature significant efficiency improvement (+/-)


[Blue Lotus Daily]:1810 HK/AAPL/981 HK/LKNCY US/BZ US/LI US/1211 HK

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

<ul>
<li>
<a href="https://www.smartkarma.com/entities/byd-co-ltd-h" target="_blank" data-smartkarma-citation="entities:20962:1" rel="noopener">BYD (1211 HK)</a> shares had a breakout relative to the MSCI China index and showing good momentum during the low volume days of summer.  
</li>
<li>
<a href="https://www.smartkarma.com/entities/power-assets-holdings-ltd" target="_blank" data-smartkarma-citation="entities:788:1" rel="noopener">POWER ASSETS HOLDINGS (6 HK)</a> has shown a breakout relative to MSCI Hong Kong with a defensive business and 5%+ dividend yield. 
</li>
<li>
<a href="https://www.smartkarma.com/entities/wh-group-ltd" target="_blank" data-smartkarma-citation="entities:13200:1" rel="noopener">WH GROUP (288 HK)</a> has also shown a breakout relative to the MSCI Hong Kong after its announcement of the spinoff of Smithfield Foods in the US. 
</li>
</ul>



BYD (1211 HK) shares had a breakout relative to the MSCI China index and showing good momentum during the low volume days of summer.  


POWER ASSETS HOLDINGS (6 HK) has shown a breakout relative to MSCI Hong Kong with a defensive business and 5%+ dividend yield. 


WH GROUP (288 HK) has also shown a breakout relative to the MSCI Hong Kong after its announcement of the spinoff of Smithfield Foods in the US. 



Technically Speaking, Breakouts and Breakdowns: HONG KONG (July 24)

China

BYD Company Limited, through its subsidiaries, manufactures and sells automobiles. The Company also researches, develops, manufactures and sells batteries, which are applied on mobile phones, cordless phones, power tools and other kinds of portable electronic devices.

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BYD (1211 HK)

Ola Electric Pre-IPO - Initial Thoughts on Valuation

Ola Electric has launched its IPO at a much more digestible valuation than what it was aiming for earlier. At the current valuations, it would be...

Sumeet Singh

Mainland Connect NORTHBOUND Flows (To 19 July 2024): A Big Broad Sell in Third Plenum Week

NORTHBOUND saw selling again, making the strong buying blip two weeks ago just that. Selling across the heavyweights as A-shares underperformed HK....

Travis Lundy

HK Short Interest Weekly: Ping An, Meituan, China Mobile, HSBC, Haidilao, Picc P&C, Gwmotor, Psbc

We analyzed the latest HK SFC report for aggregate short position as of Jul 19th and highlight short interest changes in Ping An, Meituan, China...

Ke Yan, CFA, FRM

[Blue Lotus Daily]:1810 HK/AAPL/981 HK/LKNCY US/BZ US/LI US/1211 HK

Xiaomi's China unit sees growth, acquires land for new EV factory, while SMIC's upcoming "5nm" process promises efficiency boost.

Blue Lotus Research Institute

Technically Speaking, Breakouts and Breakdowns: HONG KONG (July 24)

BYD Company, Power Assets and WH Group all experienced breakouts during the week. WH Group announced a spin off of its Smithfield Foods business...

David Mudd

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Ola Electric Pre-IPO - Initial Thoughts on Valuation

Ola Electric has launched its IPO at a much more digestible valuation than what it was aiming for earlier. At the current valuations, it would be...

Sumeet Singh

Mainland Connect NORTHBOUND Flows (To 19 July 2024): A Big Broad Sell in Third Plenum Week

NORTHBOUND saw selling again, making the strong buying blip two weeks ago just that. Selling across the heavyweights as A-shares underperformed HK....

Travis Lundy

HK Short Interest Weekly: Ping An, Meituan, China Mobile, HSBC, Haidilao, Picc P&C, Gwmotor, Psbc

We analyzed the latest HK SFC report for aggregate short position as of Jul 19th and highlight short interest changes in Ping An, Meituan, China...

Ke Yan, CFA, FRM

[Blue Lotus Daily]:1810 HK/AAPL/981 HK/LKNCY US/BZ US/LI US/1211 HK

​Xiaomi's China unit sees growth, acquires land for new EV factory, while SMIC's upcoming "5nm" process promises efficiency boost.

Blue Lotus Research Institute

Technically Speaking, Breakouts and Breakdowns: HONG KONG (July 24)

BYD Company, Power Assets and WH Group all experienced breakouts during the week. WH Group announced a spin off of its Smithfield Foods business...

David Mudd

Xiaomi's China unit sees growth, acquires land for new EV factory, while SMIC's upcoming "5nm" process promises efficiency boost.