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

Suzhou Dongshan Precision A / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/suzhou-dongshan-precision-a" target="_blank" data-smartkarma-citation="entities:8796:1" rel="noopener">Suzhou Dongshan Precision A (002384 CH,</a> SDPM), a global PCB and other component provider, aims to raise around US$1bn in its H-share listing.</li>
<li>SDPM was the largest PCB supplier for edge AI devices, the second-largest FPC supplier and a top three PCB supplier globally by revenue in 2024, according to CIC.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Suzhou Dongshan Precision A (002384 CH, SDPM), a global PCB and other component provider, aims to raise around US$1bn in its H-share listing.
SDPM was the largest PCB supplier for edge AI devices, the second-largest FPC supplier and a top three PCB supplier globally by revenue in 2024, according to CIC.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Aequitas: Suzhou Dongshan Precision Manuf A/H IPO - Stock Running on AI, Despite Lacklustre Past

Derivatives and Quantitative Strategist

Gaudenz Schneider

Event-Driven

<ul>
<li>
Context: <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> / <a href="https://www.smartkarma.com/entities/byd-co-ltd" target="_blank" data-smartkarma-citation="entities:26048:1" rel="noopener">BYD (002594 CH)</a> reports Q4 2025 results on 27 March 2026 after market close.</li>
<li>
Highlights: Options markets imply a larger move than the historical average. The stock has shown asymmetric reactions, with fewer but stronger upside moves.</li>
<li>
Why Read: Gain insight into <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> earnings-day price history, volatility dynamics, and dividend outlook to better position for the upcoming announcement.</li>
</ul>



Context: BYD (1211 HK) / BYD (002594 CH) reports Q4 2025 results on 27 March 2026 after market close.

Highlights: Options markets imply a larger move than the historical average. The stock has shown asymmetric reactions, with fewer but stronger upside moves.

Why Read: Gain insight into BYD (1211 HK) earnings-day price history, volatility dynamics, and dividend outlook to better position for the upcoming announcement.


BYD (1211 HK / 002594 CH) Earnings 27 March: Expected Move, Volatility Dynamics, Dividend Outlook

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>The reintroduction of the EV sales tax in China dampened growth prospects so far, as reflected by the poor Jan and Feb 2026 sales numbers. </li>
<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> created a new revenue stream in Australia besides selling EV units with a gross margin of almost 99%, although the impact on the company is still small. </li>
<li>Valuation is much more compelling now, but investors are cautioned to hold to see the impact on sales tax. The high oil price could spike interest in EVs again. </li>
</ul>


The reintroduction of the EV sales tax in China dampened growth prospects so far, as reflected by the poor Jan and Feb 2026 sales numbers. 

BYD (1211 HK) created a new revenue stream in Australia besides selling EV units with a gross margin of almost 99%, although the impact on the company is still small. 
Valuation is much more compelling now, but investors are cautioned to hold to see the impact on sales tax. The high oil price could spike interest in EVs again. 


Focused on the Climate–Nature Nexus., Carbon Tracker Initiative

Carbon Tracker Initiative

Focused on the Climate–Nature Nexus.

Carbon Tracker and Planet Tracker - part of the Tracker Group - are award-winning, non-profit financial think tanks focused on the climate–nature nexus.

Thematic (Sector/Industry)

<ul>
<li>This report analyses 17 of the world’s largest automakers and identifies a systemic “Carbon Gap” between reported Scope 3 Category 11 emissions and estimated real-world lifecycle emissions.</li>
<li>Across the sector, Carbon Tracker estimates a median reporting gap of 33%, driven by differences between corporate reporting assumptions and real-world vehicle emissions.</li>
<li>Adjusted emissions estimates suggest several automakers are as carbon intensive as traditional oil and gas companies.</li>
</ul>


This report analyses 17 of the world’s largest automakers and identifies a systemic “Carbon Gap” between reported Scope 3 Category 11 emissions and estimated real-world lifecycle emissions.
Across the sector, Carbon Tracker estimates a median reporting gap of 33%, driven by differences between corporate reporting assumptions and real-world vehicle emissions.
Adjusted emissions estimates suggest several automakers are as carbon intensive as traditional oil and gas companies.


Energy Transition: Oil Companies in Disguise

Pan-Asia Tactical Market Calls (Quant-Driven), MRM Research

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

Equity Derivatives

<ul>
<li>As you know, lately we have maintained a constructive view on  <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> identifying a potential bottoming process. Recent price action is supported by a significant new fundamental catalyst.</li>
<li>BYD shares surged ~8% on March 16, 2026, following news that its Brazil plant (Camaçari) secured 100,000 export orders from Argentina and Mexico.</li>
<li>This insight utilizes our proprietary model to quantify the extent of the current price extension and evaluate if the current trajectory supports further appreciation before a tactical consolidation.</li>
</ul>


As you know, lately we have maintained a constructive view on  BYD (1211 HK) identifying a potential bottoming process. Recent price action is supported by a significant new fundamental catalyst.
BYD shares surged ~8% on March 16, 2026, following news that its Brazil plant (Camaçari) secured 100,000 export orders from Argentina and Mexico.
This insight utilizes our proprietary model to quantify the extent of the current price extension and evaluate if the current trajectory supports further appreciation before a tactical consolidation.


BYD (1211 HK) Tactical Outlook: Assessing Current Trend Acceleration and Momentum Sustainability

China

BYD Company Limited manufactures automotive products. The Company produces ordinary passenger cars, commercial vehicles, and other products. BYD also operates battery making, rail transportation construction, and other businesses.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

BYD (002594 CH)

Aequitas: Suzhou Dongshan Precision Manuf A/H IPO - Stock Running on AI, Despite Lacklustre Past

Suzhou Dongshan Precision A (002384 CH, SDPM), a global PCB and other component provider, is now said to be looking to raise up to US$3bn. We will...

Sumeet Singh

BYD (1211 HK / 002594 CH) Earnings 27 March: Expected Move, Volatility Dynamics, Dividend Outlook

BYD (1211 HK, 002594 CH) set to report Q4 2025 results with options markets predicting larger moves than historical average, offering insights...

Gaudenz Schneider

BYD(1211): Neutral

China's EV sales tax reintroduction impacts growth, but BYD finds a new revenue stream in Australia with a high gross margin. Investors cautioned...

Henry Soediarko

Energy Transition: Oil Companies in Disguise

This report analyses 17 of the world’s largest automakers and identifies a systemic “Carbon Gap” between reported Scope 3 Category 11 emissions and...

Carbon Tracker Initiative

BYD (1211 HK) Tactical Outlook: Assessing Current Trend Acceleration and Momentum Sustainability

BYD surged to 104.3 on Monday, the company just secured a 100,000 vehicle export order from Latin America. Quant-model based tactical view xamines...

Nico Rosti

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Aequitas: Suzhou Dongshan Precision Manuf A/H IPO - Stock Running on AI, Despite Lacklustre Past

Suzhou Dongshan Precision A (002384 CH, SDPM), a global PCB and other component provider, is now said to be looking to raise up to US$3bn. We will...

Sumeet Singh

BYD (1211 HK / 002594 CH) Earnings 27 March: Expected Move, Volatility Dynamics, Dividend Outlook

​BYD (1211 HK, 002594 CH) set to report Q4 2025 results with options markets predicting larger moves than historical average, offering insights...

Gaudenz Schneider

BYD(1211): Neutral

​China's EV sales tax reintroduction impacts growth, but BYD finds a new revenue stream in Australia with a high gross margin. Investors cautioned...

Henry Soediarko

Energy Transition: Oil Companies in Disguise

This report analyses 17 of the world’s largest automakers and identifies a systemic “Carbon Gap” between reported Scope 3 Category 11 emissions and...

Carbon Tracker Initiative

BYD (1211 HK) Tactical Outlook: Assessing Current Trend Acceleration and Momentum Sustainability

BYD surged to 104.3 on Monday, the company just secured a 100,000 vehicle export order from Latin America. Quant-model based tactical view xamines...

Nico Rosti

BYD (1211 HK, 002594 CH) set to report Q4 2025 results with options markets predicting larger moves than historical average, offering insights...

China's EV sales tax reintroduction impacts growth, but BYD finds a new revenue stream in Australia with a high gross margin. Investors cautioned...