2025 High Conviction: Tencent Music Entertainment (TME) – Music as Promising Future
Our 2024 High Conviction, Meituan, has risen by 87% in one year. We believe the market ignores TME because of its flat revenue, but TME will...
638 Views
Pony AI IPO - Autonomous Valuation
Pony AI (PONY US), an autonomous mobility solutions provider, is looking to raise up to US$195m in its US IPO. In this note, we talk about the IPO...
658 Views
ECM Weekly (18th Nov 2024) - SF Holdings, MNC, Swiggy, Sagility, Niva, GMM, Zinka, Kansai, Go Digit
Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
427 Views
SF Holdings A/H Listing - Thoughts on A/H Premium and past A/H Listings
S.F. Holding (002352 CH) is now said to be looking to raise around US$1-1.5bn in its H-share listing in Hong Kong. In this note, we talk about the...
535 Views
Tencent Music (TME): 3Q24, Began to Grow with Record Gross Margin
The quarterly gross margin hit historical high again in 3Q24. The growth rate exceeded 5% YoY for the first time in three years, as the weak...
326 Views