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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 29th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We have highlighted flows for Meituan, Tencent, ICBC and Xpeng.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 29th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We have highlighted flows for Meituan, Tencent, ICBC and Xpeng.


Hong Kong Connect Flows (Sep 29th): Meituan, Tencent, ICBC, Xpeng

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 15th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for ICBC, Innovent Biologics, CCB, Sunac China.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 15th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for ICBC, Innovent Biologics, CCB, Sunac China.


Hong Kong Connect Flows (Sep 15th): ICBC, Innovent Biologics, CCB, Sunac China

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 8th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for ICBC, CNOOC, CCB, HKEx, China Petroleum &amp; Chemical.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 8th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for ICBC, CNOOC, CCB, HKEx, China Petroleum &amp; Chemical.


Hong Kong Connect Flows (Sep 8th): ICBC, CNOOC, CCB, HKEx, China Petroleum & Chemical

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vng-limited" target="_blank" data-smartkarma-citation="entities:26716:1" rel="noopener">VNG (VinaGame) (VNG US)</a> is Vietnam’s leading, homegrown digital ecosystem. VNG has filed for a Nasdaq listing to raise US$300 million.</li>
<li>In <em><strong><a href="https://www.smartkarma.com/insights/vng-ipo-the-bull-case" target="_blank" data-smartkarma-citation="insights:112269" rel="noopener">VNG IPO: The Bull Case</a></strong></em>, we highlighted the key elements of the bull case. In this note, we outline the bear case.</li>
<li>The bear case rests on the Communications and Media business' faltering fundamentals, the Fintech business' uncertain path to profitability and VNG’s underlying cash burn.</li>
</ul>



VNG (VinaGame) (VNG US) is Vietnam’s leading, homegrown digital ecosystem. VNG has filed for a Nasdaq listing to raise US$300 million.
In VNG IPO: The Bull Case, we highlighted the key elements of the bull case. In this note, we outline the bear case.
The bear case rests on the Communications and Media business' faltering fundamentals, the Fintech business' uncertain path to profitability and VNG’s underlying cash burn.


<ul>
<li>
<a href="https://www.smartkarma.com/entities/vng-limited" target="_blank" data-smartkarma-citation="entities:26716:1" rel="noopener">VNG (VinaGame) (VNG US)</a> is Vietnam’s leading, homegrown digital ecosystem. VNG has filed for a Nasdaq listing to raise US$300 million.    </li>
<li>VNG is the number one mobile games publisher in Vietnam. VNG’s Zalo, Zing MP3 and Bao Moi applications are Vietnam’s leading messaging, music streaming and online news applications. </li>
<li>The bull case rests on the core games business’ improving KPIs, return to growth, good revenue visibility, and reducing dependence on critical partners combined with VNG’s improving margin.</li>
</ul>



VNG (VinaGame) (VNG US) is Vietnam’s leading, homegrown digital ecosystem. VNG has filed for a Nasdaq listing to raise US$300 million.    
VNG is the number one mobile games publisher in Vietnam. VNG’s Zalo, Zing MP3 and Bao Moi applications are Vietnam’s leading messaging, music streaming and online news applications. 
The bull case rests on the core games business’ improving KPIs, return to growth, good revenue visibility, and reducing dependence on critical partners combined with VNG’s improving margin.


Hong Kong

Archosaur Games Inc. operates as a game development company. The Company provides mobile game development, production, marketing, and other services. Archosaur Games markets its products throughout China.

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Archosaur Games (9990 HK)

Hong Kong Connect Flows (Sep 29th): Meituan, Tencent, ICBC, Xpeng

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Meituan, Tencent, ICBC and Xpeng.

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Sep 15th): ICBC, Innovent Biologics, CCB, Sunac China

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for ICBC, Innovent Biologics, CCB, Sunac China.

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Sep 8th): ICBC, CNOOC, CCB, HKEx, China Petroleum & Chemical

We analyzed the Hong Kong Connect Scheme for last week and highlight flows for ICBC, CNOOC, CCB, HKEx, China Petroleum & Chemical.

Ke Yan, CFA, FRM

VNG IPO: The Bear Case

The bear case rests on the Communications and Media business' faltering fundamentals, the Fintech business' uncertain path to profitability and...

Arun George

VNG IPO: The Bull Case

The bull case rests on the core games business’ improving KPIs, return to growth, good revenue visibility, and reducing dependence on critical...

Arun George

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52-week Range

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