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.

Event-Driven

Evergrande Property Services Group / Event-Driven

Evergrande Property Services Group (6666 HK)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/evergrande-property-services" target="_blank" data-smartkarma-citation="entities:30921:1" rel="noopener">Evergrande Property Services (6666 HK)</a> notes that the liquidators have entered into the final stage of the process by entering into an exclusivity agreement with a selected bidder.</li>
<li>The exclusivity period runs for 30 business days. i.e., until 20 May. The sale, when completed, will trigger an unconditional mandatory general offer.</li>
<li>The identity of the bidder and the sale price are unknown. My analysis suggests an offer price range of HK$1.40 to HK$1.50 (14.8% to 23.0% premium to the last close).</li>
</ul>



Evergrande Property Services (6666 HK) notes that the liquidators have entered into the final stage of the process by entering into an exclusivity agreement with a selected bidder.
The exclusivity period runs for 30 business days. i.e., until 20 May. The sale, when completed, will trigger an unconditional mandatory general offer.
The identity of the bidder and the sale price are unknown. My analysis suggests an offer price range of HK$1.40 to HK$1.50 (14.8% to 23.0% premium to the last close).


Evergrande Property Services (6666 HK): Entering the Final Stages Towards an Unconditional MGO

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Contemporary Amperex Technology / Event-Driven

Contemporary Amperex Technology (3750 HK)

<ul>
<li>This note analyses price behaviour around thirteen regular HSI rebalance events (March 2022 to March 2026), covering 32 ADD and 5 DELETE stock-events.</li>
<li>We examine the announcement-to-implementation (WAI) window for systematic positioning effects and whether the resulting premium creates predictable post-implementation reversals.</li>
<li>We apply those patterns to the four stocks affected by the March 2026 rebalance (three ADDs, one DELETE) to assess positioning dynamics and post-implementation setup.</li>
</ul>


This note analyses price behaviour around thirteen regular HSI rebalance events (March 2022 to March 2026), covering 32 ADD and 5 DELETE stock-events.
We examine the announcement-to-implementation (WAI) window for systematic positioning effects and whether the resulting premium creates predictable post-implementation reversals.
We apply those patterns to the four stocks affected by the March 2026 rebalance (three ADDs, one DELETE) to assess positioning dynamics and post-implementation setup.


HSI Index Rebalance: Historical Patterns & March '25 Analysis

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of HSI in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on JD.COM, China Life, ALIBABA, ZIJIN MINING, LI AUTO, HSBC.</li>
</ul>


We analysed the earning revision of component stocks of HSI in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on JD.COM, China Life, ALIBABA, ZIJIN MINING, LI AUTO, HSBC.


HSI Index Earning Revision (Jan): JD.COM, China Life, ALIBABA, ZIJIN MINING, LI AUTO, HSBC

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 21st.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Alibaba, Xiaomi, Xpeng, CCB, SMIC, China Shenhua Energy.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 21st.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Alibaba, Xiaomi, Xpeng, CCB, SMIC, China Shenhua Energy.


HK Connect Flows Weekly (Nov 21st): Alibaba, Xiaomi, Xpeng, CCB, SMIC, China Shenhua Energy

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>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, all markets were in full throttle mode going into the year end.</li>
<li>On the placements front, there were a number of deals across the region.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, all markets were in full throttle mode going into the year end.
On the placements front, there were a number of deals across the region.


ECM Weekly (17 November 2025) -Softcare, Northsand, Human Made, Lenskart, Pine Labs, Klook, Sagility

China

China Resources Mixc Lifestyle Services provides property management and commercial operational services across the People's Republic of China. The company manages a diversified portfolio including residential communities, shopping malls, and office buildings, offering services such as pre-opening management, security, cleaning, and community lifestyle services. It is headquartered in Shenzhen, China, and was founded in 1994.

China Resources Mixc Lifestyle Services (1209 HK)

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China Resources Mixc Lifestyle Services (1209 HK)

Evergrande Property Services (6666 HK): Entering the Final Stages Towards an Unconditional MGO

Selecting a final bidder brings the process closer to an unconditional MGO. My analysis suggests an offer price range of HK$1.40 to HK$1.50 per share.

Arun George

HSI Index Rebalance: Historical Patterns & March '25 Analysis

HSI March 2026 rebalance: positioning timing, reversal patterns, and flow-impact analysis across 12 completed events with actionable signals for...

Ke Yan, CFA, FRM

HSI Index Earning Revision (Jan): JD.COM, China Life, ALIBABA, ZIJIN MINING, LI AUTO, HSBC

We analyzed HSI's consensus for Jan 2026 and highlighted changes of EPS in JD.COM, China Life, ALIBABA, ZIJIN MINING, LI AUTO, HSBC.

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Nov 21st): Alibaba, Xiaomi, Xpeng, CCB, SMIC, China Shenhua Energy

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, Xiaomi, Xpeng, CCB, SMIC, China Shenhua Energy.

Ke Yan, CFA, FRM

ECM Weekly (17 November 2025) -Softcare, Northsand, Human Made, Lenskart, Pine Labs, Klook, Sagility

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)