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.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of CSI 100 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 CAMBRICON TECHNOLOGIES, CHINA VANKE, ZIJIN MINING, TONGWEI, CSCE, CHONGQING ZHIFEI BIOLOGICAL PRODUCTS, TCL TECHNOLOGY, Zijin Mining, Tcl Technology, China Vanke.</li>
</ul>


We analysed the earning revision of component stocks of CSI 100 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 CAMBRICON TECHNOLOGIES, CHINA VANKE, ZIJIN MINING, TONGWEI, CSCE, CHONGQING ZHIFEI BIOLOGICAL PRODUCTS, TCL TECHNOLOGY, Zijin Mining, Tcl Technology, China Vanke.


CSI 100 Index Earning Revision (Aug): CAMBRICON, CHINA VANKE, ZIJIN MINING, TONGWEI

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/sicc-co-ltd" target="_blank" data-smartkarma-citation="entities:36273:1" rel="noopener">SICC (688234 CH)</a>, a manufacturer of high-quality SiC substrates, raised around US$260m in its H-share listing.</li>
<li>In terms of market share, as per Frost &amp; Sullivan, based on 2024 sales, its market share was at 16.7%.</li>
<li>We have looked at the past performance and likely A/H premium in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>



SICC (688234 CH), a manufacturer of high-quality SiC substrates, raised around US$260m in its H-share listing.
In terms of market share, as per Frost &amp; Sullivan, based on 2024 sales, its market share was at 16.7%.
We have looked at the past performance and likely A/H premium in our previous note. In this note, we talk about the trading dynamics.


SICC A/H Trading - Strong Retail, Lukewarm Insti Demand

<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,  a number of companies are lining up to start 2H listing season, which is likely to be one of the busiest over the past few years.</li>
<li>On the placements front as well, given ongoing earnings annoucement there were only one large placement last week.</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,  a number of companies are lining up to start 2H listing season, which is likely to be one of the busiest over the past few years.
On the placements front as well, given ongoing earnings annoucement there were only one large placement last week.


ECM Weekly (18 August 2025)- Eve Energy, CNGR, Will Semi, 52 Toys, JSW, Bluestone, Tuas, Hexaware

<ul>
<li>
<a href="https://www.smartkarma.com/entities/eve-energy-co-ltd" target="_blank" data-smartkarma-citation="entities:14769:1" rel="noopener">EVE Energy (300014 CH)</a> (EVE), a lithium battery provider, aims to raise around US$1bn in its H-share listing.</li>
<li>EVE produces lithium batteries which cater to consumer battery, power battery and ESS battery sectors.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



EVE Energy (300014 CH) (EVE), a lithium battery provider, aims to raise around US$1bn in its H-share listing.
EVE produces lithium batteries which cater to consumer battery, power battery and ESS battery sectors.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Eve Energy A/H Listing - One of the Leaders but Growth Has Been Slowing

Contemporary Amperex Technology (CATL) / Equity Capital Markets

Contemporary Amperex Technology (CATL) (300750 CH)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/contemporary-amperex-technolog" target="_blank" data-smartkarma-citation="entities:24404:1" rel="noopener">Contemporary Amperex Technology (CATL) (300750 CH)</a>, one of the world’s largest battery solutions providers, raised around US$5.2bn in its H-share listing.</li>
<li>
<a href="https://www.smartkarma.com/entities/contemporary-amperex-technology-co-limited" target="_blank" data-smartkarma-citation="entities:45179:1" rel="noopener">Contemporary Amperex Technology (3750 HK)</a> is the global leader in new energy vehicle battery solutions, in China and globally, as per SNE Research. Its A-shares have been listed since 2018.</li>
<li>We have looked at the company’s past performance and valuations in our earlier notes. In this note, we talk about the trading dynamics.</li>
</ul>



Contemporary Amperex Technology (CATL) (300750 CH), one of the world’s largest battery solutions providers, raised around US$5.2bn in its H-share listing.

Contemporary Amperex Technology (3750 HK) is the global leader in new energy vehicle battery solutions, in China and globally, as per SNE Research. Its A-shares have been listed since 2018.
We have looked at the company’s past performance and valuations in our earlier notes. In this note, we talk about the trading dynamics.


CATL A/H Trading - Strong Demand, Upsized, Included in Short-Sell List

China

EVE Energy Co., Ltd researches, manufactures and sells lithium battery.  The Company also provides portable power source solutions.

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EVE Energy (300014 CH)

CSI 100 Index Earning Revision (Aug): CAMBRICON, CHINA VANKE, ZIJIN MINING, TONGWEI

We analyzed CSI 100's consensus for Aug 2025 and highlighted changes of EPS in CAMBRICON TECHNOLOGIES (688256 CH), CHINA VANKE (000002 CH), ZIJIN...

Ke Yan, CFA, FRM

SICC A/H Trading - Strong Retail, Lukewarm Insti Demand

SICC (688234 CH), a manufacturer of high-quality SiC substrates, raised around US$260m in its H-share listing. In this note, we talk about the...

Sumeet Singh

ECM Weekly (18 August 2025)- Eve Energy, CNGR, Will Semi, 52 Toys, JSW, Bluestone, Tuas, Hexaware

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

Eve Energy A/H Listing - One of the Leaders but Growth Has Been Slowing

EVE Energy (300014 CH) (EVE), a lithium battery provider, aims to raise around US$1bn in its H-share listing. In this note, we look at the...

Sumeet Singh

CATL A/H Trading - Strong Demand, Upsized, Included in Short-Sell List

Contemporary Amperex Technology (300750 CH), one of the world’s largest battery solutions providers, raised around US$5.2bn in its H-share listing....

Sumeet Singh

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52-week Range

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