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.

Equity Capital Markets

Smart Share Global / Equity Capital Markets

Smart Share/<a href="https://www.smartkarma.com/entities/smart-share-global-limited" target="_blank" data-smartkarma-citation="entities:32217:1" rel="noopener">Energy Monster (EM US)</a> is the largest mobile device charging service provider in China as measured by gross revenues in 2020, according to iResearch. Smart Share is backed by <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba Group (BABA US)</a> (16.5% stake), Hillhouse Capital (11.7% stake) and <a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi Corp (1810 HK)</a> (7.5% stake). Smart Share has filed for a Nasdaq IPO to raise proceeds of $300 million, according to press reports. The mobile device charging service industry in China started to scale in 2017 out of the increasing gap between smartphone battery consumption and smartphone battery life. The rise of compelling apps, such as gaming and short-video apps, has spurred the need for a smartphone charge in a quick, cheap and convenient method. The widespread low-battery anxiety is the key pain point. A survey by iResearch shows that 93% of smartphone users have experienced the need to charge their mobile devices while they are away from their homes or offices.<div class="content-highlight">Due to these favourable trends, the size of the mobile device charging service market in China is expected to grow from RMB9.0 billion in 2020 to RMB106.3 billion in 2028, representing a CAGR of 36.2% from 2020 to 2028, according to iResearch. Overall, we believe that Smart Share is well-positioned to tap into this growth opportunity.</div>

Smart Share/Energy Monster (EM US) is the largest mobile device charging service provider in China as measured by gross revenues in 2020, according to iResearch. Smart Share is backed by Alibaba Group (BABA US) (16.5% stake), Hillhouse Capital (11.7% stake) and Xiaomi Corp (1810 HK) (7.5% stake). Smart Share has filed for a Nasdaq IPO to raise proceeds of $300 million, according to press reports. The mobile device charging service industry in China started to scale in 2017 out of the increasing gap between smartphone battery consumption and smartphone battery life. The rise of compelling apps, such as gaming and short-video apps, has spurred the need for a smartphone charge in a quick, cheap and convenient method. The widespread low-battery anxiety is the key pain point. A survey by iResearch shows that 93% of smartphone users have experienced the need to charge their mobile devices while they are away from their homes or offices.Due to these favourable trends, the size of the mobile device charging service market in China is expected to grow from RMB9.0 billion in 2020 to RMB106.3 billion in 2028, representing a CAGR of 36.2% from 2020 to 2028, according to iResearch. Overall, we believe that Smart Share is well-positioned to tap into this growth opportunity.

Smart Share Global IPO Initiation: Charging Ahead

APAC IPOs & Placements

Zhen Zhou, Toh

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.

Smart Share Global, also known as <a href="https://www.smartkarma.com/entities/smart-share-global-limited" target="_blank" data-smartkarma-citation="entities:32217:1" rel="noopener">Energy Monster (EM US)</a> , is looking to raise US$500m in its upcoming U.S. IPO.SSG is a consumer tech company that provides mobile device charging service through online and offline networks. The company is the largest mobile device charging service provider in China in terms of 2020 gross revenue.In this note, we take a look at SSG’s business mode, financials, operating data and share our thoughts on the IPO.

Smart Share Global, also known as Energy Monster (EM US) , is looking to raise US$500m in its upcoming U.S. IPO.SSG is a consumer tech company that provides mobile device charging service through online and offline networks. The company is the largest mobile device charging service provider in China in terms of 2020 gross revenue.In this note, we take a look at SSG’s business mode, financials, operating data and share our thoughts on the IPO.

Smart Share Global (怪兽充电) Pre-IPO - Growing Fast and Is Profitable but Competition Is Picking Up

China

Smart Share Global Limited operates as a mobile device charging service provider. The Company offers mobile device charging services through an extensive online and offline network. Smart Share Global conducts businesses in China.

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Smart Share Global IPO Initiation: Charging Ahead

Smart Share has filed for a Nasdaq IPO to raise $300m, according to press reports. Overall, we believe that Smart Share is well-positioned in the...

Arun George

Smart Share Global (怪兽充电) Pre-IPO - Growing Fast and Is Profitable but Competition Is Picking Up

Energy Monster (EM US) , is looking to raise US$500m in its upcoming U.S. IPO. SSG is a consumer tech company that provides mobile device charging...

Zhen Zhou, Toh