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.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lens-technology" target="_blank" data-smartkarma-citation="entities:45390:1" rel="noopener">Lens Technology (6613 HK)</a>, a precision manufacturing solution provider, raised around US$700m in its H-share listing.  The lockup on its cornerstone investors is set to expire soon.</li>
<li>Lens Technology (LT) is one of the leading players in precision structural parts and modules integrated solutions for both consumer electronics and smart vehicles interaction systems.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Lens Technology (6613 HK), a precision manufacturing solution provider, raised around US$700m in its H-share listing.  The lockup on its cornerstone investors is set to expire soon.
Lens Technology (LT) is one of the leading players in precision structural parts and modules integrated solutions for both consumer electronics and smart vehicles interaction systems.
In this note, we will talk about the lockup dynamics and possible placement.


Lens Technology IPO Lockup - Has Had a Good Run, Cornerstones Could Book Gains

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Sichuan Teway Food Group / Equity Capital Markets

<ul>
<li>Teway's product development strategy is to focus on creating blockbuster products for C-end market.The B-end adopts the model of "sales of standard and major products + customization for top customers".</li>
<li>Investors need to be aware that seasoning companies are generally facing the dilemma of declining revenue and profits, with almost no incremental market and difficulty in competing for existing markets.</li>
<li>Teway's valuation would be lower than Haitian. If Teway's growth potential/channel vitality can offset the binding advantages of Yihai + Haidilao, Teway's valuation may be comparable to or higher than Yihai.</li>
</ul>


Teway's product development strategy is to focus on creating blockbuster products for C-end market.The B-end adopts the model of "sales of standard and major products + customization for top customers".
Investors need to be aware that seasoning companies are generally facing the dilemma of declining revenue and profits, with almost no incremental market and difficulty in competing for existing markets.
Teway's valuation would be lower than Haitian. If Teway's growth potential/channel vitality can offset the binding advantages of Yihai + Haidilao, Teway's valuation may be comparable to or higher than Yihai.


Pre-IPO Sichuan Teway Food Group (A/H Listing) - Business Model, Risks and Thoughts on Valuation

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 analyse the changes of A-H premium on 160 stocks over the last week. The average A-H premium was 65.7% as of Dec 19th.</li>
<li>The average A-H premium changed by 2.0ppt week-on-week, led by consumer discretionary, information technology, utilities.</li>
<li>We highlight weekly changes in A-H premium for BankComm, Anjoy Foods, Cosco Shipping Development, Shanghai Electric.</li>
</ul>


We analyse the changes of A-H premium on 160 stocks over the last week. The average A-H premium was 65.7% as of Dec 19th.
The average A-H premium changed by 2.0ppt week-on-week, led by consumer discretionary, information technology, utilities.
We highlight weekly changes in A-H premium for BankComm, Anjoy Foods, Cosco Shipping Development, Shanghai Electric.


A-H Premium Weekly (Dec 19th): BankComm, Anjoy Foods, Cosco Shipping Development, Shanghai Electric

Sanhua Intelligent Controls / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zhejiang-sanhua-intelligent-controls-co-ltd" target="_blank" data-smartkarma-citation="entities:45277:1" rel="noopener">Zhejiang Sanhua Intelligent Controls (2050 HK)</a>, raised around US$1.4bn in its H-share listing. The lockup on its cornerstone investors is set to expire soon.</li>
<li>ZSIC is a market leader in a number of products, with commanding market share both domestically and globally.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Zhejiang Sanhua Intelligent Controls (2050 HK), raised around US$1.4bn in its H-share listing. The lockup on its cornerstone investors is set to expire soon.
ZSIC is a market leader in a number of products, with commanding market share both domestically and globally.
In this note, we will talk about the lockup dynamics and possible placement.


Zhejiang Sanhua Intelligent Controls IPO Lockup - US$800m Cornerstone Release

China

Foshan Haitian Flavouring & Food Company Ltd. manufactures food seasonings. The Company develops, produces, and distributes condiments including soy sauce, oyster sauce, vinegar, flavoring sauce, chicken stock, monosodium glutamate, and oil.

Foshan Haitian Flavouring & Food (603288 CH)

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

Foshan Haitian Flavouring & Food (603288 CH)

Lens Technology IPO Lockup - Has Had a Good Run, Cornerstones Could Book Gains

Lens Technology (6613 HK), a precision manufacturing solution provider, raised around US$700m in its H-share listing. The lockup on its...

Sumeet Singh

Pre-IPO Sichuan Teway Food Group (A/H Listing) - Business Model, Risks and Thoughts on Valuation

Teway focuses on blockbuster products for C-end market, while face challenges in declining seasoning industry. Valuation will be lower than...

Xinyao (Criss) Wang

A-H Premium Weekly (Dec 19th): BankComm, Anjoy Foods, Cosco Shipping Development, Shanghai Electric

We analyzed A-H premium changes in the past week and highlight A-H premium changes for BankComm, Anjoy Foods, Cosco Shipping Development, Shanghai...

Ke Yan, CFA, FRM

A-H Premium Weekly (Dec 19th): BankComm, Anjoy Foods, Cosco Shipping Development, Shanghai Electric

We analyzed A-H premium changes in the past week and highlight A-H premium changes for BankComm, Anjoy Foods, Cosco Shipping Development, Shanghai...

Ke Yan, CFA, FRM

Zhejiang Sanhua Intelligent Controls IPO Lockup - US$800m Cornerstone Release

Zhejiang Sanhua Intelligent Controls (2050 HK), raised around US$1.4bn in its H-share listing. The lockup on its cornerstone investors is set to...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Lens Technology IPO Lockup - Has Had a Good Run, Cornerstones Could Book Gains

Lens Technology (6613 HK), a precision manufacturing solution provider, raised around US$700m in its H-share listing. The lockup on its...

Sumeet Singh

Pre-IPO Sichuan Teway Food Group (A/H Listing) - Business Model, Risks and Thoughts on Valuation

​Teway focuses on blockbuster products for C-end market, while face challenges in declining seasoning industry. Valuation will be lower than...

Xinyao (Criss) Wang

A-H Premium Weekly (Dec 19th): BankComm, Anjoy Foods, Cosco Shipping Development, Shanghai Electric

We analyzed A-H premium changes in the past week and highlight A-H premium changes for BankComm, Anjoy Foods, Cosco Shipping Development, Shanghai...

Ke Yan, CFA, FRM

A-H Premium Weekly (Dec 19th): BankComm, Anjoy Foods, Cosco Shipping Development, Shanghai Electric

We analyzed A-H premium changes in the past week and highlight A-H premium changes for BankComm, Anjoy Foods, Cosco Shipping Development, Shanghai...

Ke Yan, CFA, FRM

Zhejiang Sanhua Intelligent Controls IPO Lockup - US$800m Cornerstone Release

Zhejiang Sanhua Intelligent Controls (2050 HK), raised around US$1.4bn in its H-share listing. The lockup on its cornerstone investors is set to...

Sumeet Singh

Teway focuses on blockbuster products for C-end market, while face challenges in declining seasoning industry. Valuation will be lower than...