ECM Weekly (16 June 2025) - Haitian, Sanhua, Kitazato, Primo, Kioxia, Xtalpi, Horizon, Keymed, Wuxi
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.
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Quiddity Leaderboard HSIII Sep25: Some Changes to Expectations; Trade Idea Successful
The SHORT Expected DEL Net Dragon vs Peers trade has generated a strong positive return during the last month. This could continue over the next...
629 Views
Quiddity Leaderboard HSTECH Sep25: 1 Low-Conviction Change + 1 FAF Revision; US$1.3bn One-Way
We expect high-impact index flows for the ADD, DEL, and the FAF-revision names. There could be multiple days of volume to trade for these names if...
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Horizon Robotics Placement - Momentum Is Strong but Raising Seems Opportunistic
Horizon Robotics (9660 HK) raised around US$800m in its Hong Kong IPO in October 2024. It’s back again to raise another US$600m via a placement.
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HS TECH Index Earning Revision (May): Xiaomi, Ntes, Meituan, Jd, Smic, Horizonrobot
We analyzed HS TECH's consensus for May 2025 and highlighted changes of EPS in Xiaomi, Ntes - S, Meituan, Jd - Sw, Smic, Horizonrobot, Hua Hong Semi.
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