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 Bottom-Up

<ul>
<li>Giant Biogene was listed in Hong Kong IPO in 2022. It has done well since and is now trading 45% above its IPO price, but its still cheap.</li>
<li>GB is a leader in the bioactive ingredient-based professional skin treatment product industry in China.</li>
<li>In this note, we will talk about the company’s past performance and future prospects.</li>
</ul>


Giant Biogene was listed in Hong Kong IPO in 2022. It has done well since and is now trading 45% above its IPO price, but its still cheap.
GB is a leader in the bioactive ingredient-based professional skin treatment product industry in China.
In this note, we will talk about the company’s past performance and future prospects.


2024 High Conviction - Giant Biogene - Growth Rate Keeps Moving Higher

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>Are the recent announcements blocking Chinese investment a sea change in US/China relations?</li>
<li>Are we wrong about Trump’s willingness to do a deal with China?</li>
<li>Is it wrong to maintain a bullish stance on HK-listed China stocks?</li>
</ul>


Are the recent announcements blocking Chinese investment a sea change in US/China relations?
Are we wrong about Trump’s willingness to do a deal with China?
Is it wrong to maintain a bullish stance on HK-listed China stocks?


Will Recent US Announcements Derail the HK/China Bull Market?

<ul>
<li>In the short-term, meaningful policy reforms needed out of the Third Plenum</li>
<li>Chinese data continues to be lacklustre as expected while markets tread water</li>
<li>What can we expect from the Third Plenum to galvanise the next stage</li>
</ul>


In the short-term, meaningful policy reforms needed out of the Third Plenum
Chinese data continues to be lacklustre as expected while markets tread water
What can we expect from the Third Plenum to galvanise the next stage


The Hang Seng Index Is at a Critical Juncture

Equity Analyst - Asia Consumer Sector, Investory

Devi Subhakesan

Equity Analyst - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

Budweiser Brewing Company APAC / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/budweiser-brewing-co-apac-ltd" target="_blank" data-smartkarma-citation="entities:28077:1" rel="noopener">Budweiser Brewing APAC (1876 HK)</a>'s  performance could improve from 2H2024, driven by a likely recovery in China's premium beer market and favourable commodity prices.</li>
<li>Stock's upside potential from current price levels seem to outweigh downside risk.</li>
<li>With a high dividend payout and strong free cash flow generation, Budweiser trades at a 5% dividend yield and an 11% FCF yield.</li>
</ul>



Budweiser Brewing APAC (1876 HK)'s  performance could improve from 2H2024, driven by a likely recovery in China's premium beer market and favourable commodity prices.
Stock's upside potential from current price levels seem to outweigh downside risk.
With a high dividend payout and strong free cash flow generation, Budweiser trades at a 5% dividend yield and an 11% FCF yield.


Budweiser APAC (1876 HK): Weak 2Q2024. Premium Beer, Cheap Valuations

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/giant-biogene-holding-co-ltd" target="_blank" data-smartkarma-citation="entities:35950:1" rel="noopener">Giant Biogene (2367 HK)</a> aims to raise up to US$205m via a top-up placement.</li>
<li>We have followed the company since listing and its recent performance has been great. Although it doesn’t seem to need the cash.</li>
<li>In this note, we will run the deal through our ECM framework and talk about the recent updates.</li>
</ul>



Giant Biogene (2367 HK) aims to raise up to US$205m via a top-up placement.
We have followed the company since listing and its recent performance has been great. Although it doesn’t seem to need the cash.
In this note, we will run the deal through our ECM framework and talk about the recent updates.


Giant Biogene Placement - Has Been Doing Well but Doesn’t Need the Cash

Hong Kong

China Resources Beer (Holdings) Co. Ltd. manufactures, distributes, and sells alcoholic beverages, primarily beer, in Mainland China. Its product portfolio includes popular brands like Snow Beer, Heineken, Lao Xue, Amstel, and baijiu products under the Guizhou and Jinsha Huisha brands. The company is headquartered in Wan Chai, Hong Kong, and was founded in 1992.

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

China Resources Beer (291 HK)

2024 High Conviction - Giant Biogene - Growth Rate Keeps Moving Higher

Giant Biogene was listed in Hong Kong IPO in 2022. It has done well since and is now trading 45% above its IPO price, but its still cheap.

Sumeet Singh

Will Recent US Announcements Derail the HK/China Bull Market?

Reevaluating the bullish stance on HK-listed China stocks amid potential shifts in US/China relations and uncertainty about Trump's willingness to...

Rikki Malik

The Hang Seng Index Is at a Critical Juncture

Third Plenum must deliver meaningful policy reforms to boost the Chinese consumer and market performance in the short-term.

Rikki Malik

Budweiser APAC (1876 HK): Weak 2Q2024. Premium Beer, Cheap Valuations

Worst could be past - expect a likely recovery in China premium beer market in 2H2024 and ongoing commodity tail winds to uplift company's...

Devi Subhakesan

Giant Biogene Placement - Has Been Doing Well but Doesn’t Need the Cash

Giant Biogene (2367 HK) aims to raise up to US$205m via a top-up placement. In this note, we talk about the deal dynamics and run the deal through...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

2024 High Conviction - Giant Biogene - Growth Rate Keeps Moving Higher

Giant Biogene was listed in Hong Kong IPO in 2022. It has done well since and is now trading 45% above its IPO price, but its still cheap.

Sumeet Singh

Will Recent US Announcements Derail the HK/China Bull Market?

​Reevaluating the bullish stance on HK-listed China stocks amid potential shifts in US/China relations and uncertainty about Trump's willingness to...

Rikki Malik

The Hang Seng Index Is at a Critical Juncture

​Third Plenum must deliver meaningful policy reforms to boost the Chinese consumer and market performance in the short-term.

Rikki Malik

Budweiser APAC (1876 HK): Weak 2Q2024. Premium Beer, Cheap Valuations

Worst could be past - expect a likely recovery in China premium beer market in 2H2024 and ongoing commodity tail winds to uplift company's...

Devi Subhakesan

Giant Biogene Placement - Has Been Doing Well but Doesn’t Need the Cash

Giant Biogene (2367 HK) aims to raise up to US$205m via a top-up placement. In this note, we talk about the deal dynamics and run the deal through...

Sumeet Singh

Reevaluating the bullish stance on HK-listed China stocks amid potential shifts in US/China relations and uncertainty about Trump's willingness to...

Third Plenum must deliver meaningful policy reforms to boost the Chinese consumer and market performance in the short-term.