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

Cross Asset Strategy

<ul>
<li>Metaverse /: Strict rules at home push Chinese metaverse entrepreneurs, investors overseas</li>
<li>Covid-19 /: Expert confirms not all Covid deaths will be included in official tally</li>
<li>Economy /: World Bank cuts China growth forecasts on property slump, reopening complications</li>
</ul>


Metaverse /: Strict rules at home push Chinese metaverse entrepreneurs, investors overseas
Covid-19 /: Expert confirms not all Covid deaths will be included in official tally
Economy /: World Bank cuts China growth forecasts on property slump, reopening complications


CX Daily: Strict Rules at Home Push Chinese Metaverse Entrepreneurs, Investors Overseas

Covid-19: Covid chaos at China’s hospitals as stringent control policy eases
Yuan: Xi seeks yuan settlement of China energy trades with Gulf states
Bonds: China to roll over $108 billion of special sovereign bonds

Covid-19: Covid chaos at China’s hospitals as stringent control policy eases
Yuan: Xi seeks yuan settlement of China energy trades with Gulf states
Bonds: China to roll over $108 billion of special sovereign bonds

CX Daily: Covid Chaos at China’s Hospitals as Stringent Control Policy Eases

<ul><li>Accounting : In Depth: U.S. audit row dims big accounting’s prospects in China</li><li>Covid-19: China targets seniors in renewed Covid vaccination drive</li><li>PMI: China’s manufacturing activity contracts again, Caixin PMI shows</li></ul>

Accounting : In Depth: U.S. audit row dims big accounting’s prospects in ChinaCovid-19: China targets seniors in renewed Covid vaccination drivePMI: China’s manufacturing activity contracts again, Caixin PMI shows

CX Daily: U.S. Audit Row Dims Big Accounting’s Prospects in China

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/chindata-group-holdings-adr" target="_blank" data-smartkarma-citation="entities:29274:1" rel="noopener">Chindata Group (CD US)</a>’s 3Q22 results beat both revenue and adjusted EBITDA consensus estimates. Chindata raised its full-year guidance for the second time this year.</li>
<li>Chindata continues to attract rumours of takeover interest, most recently from China Merchants. Its track record of beating guidance, modest leverage and beaten-down rating make it a target. </li>
<li>A forward EV/EBITDA multiple of 10.8x, in line with <a href="https://www.smartkarma.com/entities/21-vianet-group-inc-adr" target="_blank" data-smartkarma-citation="entities:8489:1" rel="noopener">21Vianet Group (VNET US)</a>’s multiple implied by its founder’s offer (at US$8.20), would imply Chindata’s price of US$8 per ADS.  </li>
</ul>



Chindata Group (CD US)’s 3Q22 results beat both revenue and adjusted EBITDA consensus estimates. Chindata raised its full-year guidance for the second time this year.
Chindata continues to attract rumours of takeover interest, most recently from China Merchants. Its track record of beating guidance, modest leverage and beaten-down rating make it a target. 
A forward EV/EBITDA multiple of 10.8x, in line with 21Vianet Group (VNET US)’s multiple implied by its founder’s offer (at US$8.20), would imply Chindata’s price of US$8 per ADS.  


2023 High Conviction: Chindata's Track Record & Rating Makes It a Takeover Target

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.

Equity Bottom-Up

<ul>
<li>China just announced game approval for November batch after one month break. The number of games approved is inline with the previous three months.</li>
<li>Pace of China game approval stays flattish, at a much slower pace than pre-tightening.</li>
<li>Both Tencent and Netease received approval for one game. It is more symbolic than financially material. Sentiments are turning slightly but it is not out of the wood yet.</li>
</ul>


China just announced game approval for November batch after one month break. The number of games approved is inline with the previous three months.
Pace of China game approval stays flattish, at a much slower pace than pre-tightening.
Both Tencent and Netease received approval for one game. It is more symbolic than financially material. Sentiments are turning slightly but it is not out of the wood yet.


Tencent/Netease: Breakthrough in November Batch of Game Approval

China

Beijing Douyin Information Service Co. Ltd. provides online information and contents. The Company develops and operates short video platform, original short video community, news platform, and other related products. Beijing Douyin Information Service offers services worldwide.

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ByteDance (1439927D CH)

CX Daily: Strict Rules at Home Push Chinese Metaverse Entrepreneurs, Investors Overseas

Strict rules at home push Chinese metaverse entrepreneurs, investors overseas. World Bank cuts China growth forecasts on property slump, reopening...

Caixin Global

CX Daily: Covid Chaos at China’s Hospitals as Stringent Control Policy Eases

Covid chaos at China’s hospitals as stringent control policy eases. Xi seeks yuan settlement of China energy trades with Gulf states. China to roll...

Caixin Global

CX Daily: U.S. Audit Row Dims Big Accounting’s Prospects in China

Accounting : In Depth: U.S. audit row dims big accounting’s prospects in China. Covid-19: China targets seniors in renewed Covid vaccination drive

Caixin Global

2023 High Conviction: Chindata's Track Record & Rating Makes It a Takeover Target

Chindata raised its full-year guidance for the second time this year. Its track record of beating guidance, modest leverage and beaten-down rating...

Arun George

Tencent/Netease: Breakthrough in November Batch of Game Approval

We analyzed the latest game approval in China. It is a breakthrough for Tencent since its last game approval in May 2021. Still we are highlighting...

Ke Yan, CFA, FRM

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