Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

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>Alibaba (BABA) became the largest shareholder of Sun Art (6808 HK).</li>
<li>Foxconn (2354 TT) sold all shares in Alibaba (BABA).</li>
<li>New Classics Media (NCM) announced a list of 56 new TV series, which will benefit both Tencent (700 HK) and China Literature (772 HK).</li>
</ul>


Alibaba (BABA) became the largest shareholder of Sun Art (6808 HK).
Foxconn (2354 TT) sold all shares in Alibaba (BABA).
New Classics Media (NCM) announced a list of 56 new TV series, which will benefit both Tencent (700 HK) and China Literature (772 HK).


China Internet Weekly (26Oct2020): BABA Bought Sun Art, Foxconn Sold BABA

<ul>
<li>Baidu (BIDU)’s manager was arrested for gambling advertisements.</li>
<li>iQiyi (IQ) was banned in Taiwan.</li>
<li>Trip.com (TCOM)’s revenue continued to decrease QoQ in 2Q20.</li>
<li>China Literature (772 HK) raised novel writers’ revenue share from 50% to 70%.</li>
</ul>


Baidu (BIDU)’s manager was arrested for gambling advertisements.
iQiyi (IQ) was banned in Taiwan.
Trip.com (TCOM)’s revenue continued to decrease QoQ in 2Q20.
China Literature (772 HK) raised novel writers’ revenue share from 50% to 70%.


China Internet Weekly (28Sep2020): BIDU Manager Arrested, TCOM Revenue Shrank QoQ

<ul class="">
<li>Alibaba (BABA)’s Taobao inflated audience for live broadcast.</li>
<li>SEC is investigating iQiyi for revenue inflation.</li>
<li>The merger of DouYu (DOYU) and Huya (HUYA) will come true as we had expected in April.</li>
<li>Baidu (BIDU), China Literature (772), and Sohu (SOHU) released 2Q20 results.</li>
</ul>


Alibaba (BABA)’s Taobao inflated audience for live broadcast.
SEC is investigating iQiyi for revenue inflation.
The merger of DouYu (DOYU) and Huya (HUYA) will come true as we had expected in April.
Baidu (BIDU), China Literature (772), and Sohu (SOHU) released 2Q20 results.


China Internet Weekly (17Aug2020): Top Broadcaster Said Taobao Lied, Probe and Rumor on IQ

<ul class="">
<li>The growth rate of China online retail reached 19% YoY in June, higher than 15.6% YoY in May.</li>
<li>Chinese retailing e-commerce companies raised funds of RMB28.6 billion in 1H20, decreasing by 74.5% YoY.</li>
<li>Ministry of Human Resource and Social Security warned about “employee sharing”, which was started by Alibaba (BABA).</li>
</ul>


The growth rate of China online retail reached 19% YoY in June, higher than 15.6% YoY in May.
Chinese retailing e-commerce companies raised funds of RMB28.6 billion in 1H20, decreasing by 74.5% YoY.
Ministry of Human Resource and Social Security warned about “employee sharing”, which was started by Alibaba (BABA).


China Internet Weekly (27Jul2020): Online Retail Continued to Accelerate in June

<ul class="">
<li>Labor Day vacation online sales increased 36.3% YoY.</li>
<li>Alibaba (BABA) and Pinduoduo (PDD) are blacklisted by the Office of the U.S. Trade Representative.</li>
<li>The market size of household appliance shrank by 35.8% YoY.</li>
<li>NetEase (NTES) is aiming for a second listing in Hong Kong.</li>
</ul>


Labor Day vacation online sales increased 36.3% YoY.
Alibaba (BABA) and Pinduoduo (PDD) are blacklisted by the Office of the U.S. Trade Representative.
The market size of household appliance shrank by 35.8% YoY.
NetEase (NTES) is aiming for a second listing in Hong Kong.


Weekly (11May2020): Labor Day Online Sales up 36%, BABA & PDD on U.S. Blacklist

China

China Literature Limited is an investment holding company primarily engaged in operating online literature platforms, providing literary content, and producing television series and films. It offers online reading services, copyright commercialization, writer cultivation and brokerage, and operates text work reading. The company is headquartered in Shanghai, People's Republic of China, and was founded in 2002.

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China Literature (772 HK)

China Internet Weekly (26Oct2020): BABA Bought Sun Art, Foxconn Sold BABA

Alibaba (BABA) became the largest shareholder of Sun Art (6808 HK). Foxconn (2354 TT) sold all shares in Alibaba (BABA). New Classics Media...

Ming Lu

China Internet Weekly (28Sep2020): BIDU Manager Arrested, TCOM Revenue Shrank QoQ

Baidu (BIDU)’s manager was arrested for gambling advertisements. iQiyi (IQ) was banned in Taiwan. Trip.com (TCOM)’s revenue continued to decrease...

Ming Lu

China Internet Weekly (17Aug2020): Top Broadcaster Said Taobao Lied, Probe and Rumor on IQ

Alibaba (BABA)’s Taobao inflated audience for live broadcast. SEC is investigating iQiyi for revenue inflation. The merger of DouYu (DOYU) and...

Ming Lu

China Internet Weekly (27Jul2020): Online Retail Continued to Accelerate in June

The growth rate of China online retail reached 19% YoY in June, higher than 15.6% YoY in May. Chinese retailing e-commerce companies raised funds...

Ming Lu

Weekly (11May2020): Labor Day Online Sales up 36%, BABA & PDD on U.S. Blacklist

Labor Day vacation online sales increased 36.3% YoY. Alibaba (BABA) and Pinduoduo (PDD) are blacklisted by the Office of the U.S. Trade...

Ming Lu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)