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/wuxi-apptec-co-ltd-bf4a1265-beef-48b6-b82d-29308426030f" target="_blank" data-smartkarma-citation="entities:27795:1" rel="noopener">WuXi AppTec (2359 HK)</a> aims to raise around US$650m via its H-share placement.</li>
<li>The stock has been on a roll this year and recently announced strong earnings as well. Although it’s now trading at its 52-week highs.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>



WuXi AppTec (2359 HK) aims to raise around US$650m via its H-share placement.
The stock has been on a roll this year and recently announced strong earnings as well. Although it’s now trading at its 52-week highs.
In this note, we will talk about the placement and run the deal through our ECM framework.


Wuxi AppTec Placement - Momentum Is Very Strong, Though It Is a Bit Opportunistic

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>Autos / In Depth: China’s surging auto sales mask an industry in crisis</li><li>Temple /: Faith, greed, and power: The unraveling of the Shaolin kingdom</li><li>Ports /: Cosco tipped to join revamped bid for CK Hutchison’s global ports</li></ul>

Autos / In Depth: China’s surging auto sales mask an industry in crisisTemple /: Faith, greed, and power: The unraveling of the Shaolin kingdomPorts /: Cosco tipped to join revamped bid for CK Hutchison’s global ports

CX Daily: China’s Surging Auto Sales Mask an Industry in Crisis 

External broker reports(aggregated public sources), Topline Securities

Topline Securities

External broker reports(aggregated public sources)

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Sazgar Engineering Works Limited / Equity Bottom-Up

<ul><li>Sazgar Engineering Works Limited (SAZEW) has announced the official launch of its Plug-in Hybrid Electric Vehicle (PHEV) lineup of its existing H6 model and two more variants namely Tank 500 and Cannon Alpha.</li><li>In a notice to exchange today, the company has confirmed the commencement of pre-bookings for ‘HAVAL H6 Hi4 1.5L AT AWD Turbo PHEV’, with vehicle roll out from Aug 2025. The company has set price of Haval H6 PHEV at Rs12.895mn, which is 9.7% higher than its HEV version price of Rs11.75mn.</li><li>The H6 is already an established and growing model in Pakistan, and the upcoming PHEV variant will further boost its appeal and sales momentum, in our view.</li></ul>

Sazgar Engineering Works Limited (SAZEW) has announced the official launch of its Plug-in Hybrid Electric Vehicle (PHEV) lineup of its existing H6 model and two more variants namely Tank 500 and Cannon Alpha.In a notice to exchange today, the company has confirmed the commencement of pre-bookings for ‘HAVAL H6 Hi4 1.5L AT AWD Turbo PHEV’, with vehicle roll out from Aug 2025. The company has set price of Haval H6 PHEV at Rs12.895mn, which is 9.7% higher than its HEV version price of Rs11.75mn.The H6 is already an established and growing model in Pakistan, and the upcoming PHEV variant will further boost its appeal and sales momentum, in our view.

Topline Flash Note: Sazgar Engineering Works Limited (SAZEW): Sazgar Launches PHEV Lineup, H6 PHEV Pre Booking Started

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 analyse the changes of A-H premium on 157 stocks over the last week. The average A-H premium was 58.2% as of Jul 25th.</li>
<li>The average A-H premium changed by -2.7ppt week-on-week, led by materials, communication services, financials and offset by consumer staples, real estate, health care.</li>
<li>We highlight weekly changes in A-H premium for Jiangxi Copper, Dongfang Electric, China Life, China Energy Engineering, Zhengzhou Coal Mining Machinery, China Railway Construction.</li>
</ul>


We analyse the changes of A-H premium on 157 stocks over the last week. The average A-H premium was 58.2% as of Jul 25th.
The average A-H premium changed by -2.7ppt week-on-week, led by materials, communication services, financials and offset by consumer staples, real estate, health care.
We highlight weekly changes in A-H premium for Jiangxi Copper, Dongfang Electric, China Life, China Energy Engineering, Zhengzhou Coal Mining Machinery, China Railway Construction.


A-H Premium Weekly (Jul 25th): Jiangxi Copper, Dongfang Electric, China Life

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jul 18th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Kuaishou, Cspc Pharma, Galaxy Ent, ABC.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jul 18th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Kuaishou, Cspc Pharma, Galaxy Ent, ABC.


HK Short Interest Weekly: Kuaishou, Cspc Pharma, Galaxy Ent, ABC

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.

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BYD (002594 CH)

Wuxi AppTec Placement - Momentum Is Very Strong, Though It Is a Bit Opportunistic

WuXi AppTec (2359 HK) aims to raise around US$650m via its H-share placement. In this note, we run the deal through our ECM framework and talk...

Sumeet Singh

CX Daily: China’s Surging Auto Sales Mask an Industry in Crisis

Autos / In Depth: China’s surging auto sales mask an industry in crisis Temple /: Faith, greed, and power: The unraveling of the Shaolin...

Caixin Global

Topline Flash Note: Sazgar Engineering Works Limited (SAZEW): Sazgar Launches PHEV Lineup, H6 PHEV Pre Booking Started

Sazgar Engineering Works Limited (SAZEW) has announced the official launch of its Plug-in Hybrid Electric Vehicle (PHEV) lineup of its existing H6...

Topline Securities

A-H Premium Weekly (Jul 25th): Jiangxi Copper, Dongfang Electric, China Life

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Jiangxi Copper, Dongfang Electric, China Life, China Energy...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Kuaishou, Cspc Pharma, Galaxy Ent, ABC

We analyzed the latest HK SFC report for aggregate short position as of Jul 18th and highlight short interest changes in Kuaishou, Cspc Pharma,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)