HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Shukun (Beijing) Technology / Equity Capital Markets

<ul>
<li>China's AI medical imaging industry is still in its infancy, and needs to face industry supervision, data safety, potential compliance issues, doubts on commercialization prospects, NRDL coverage and increasing competition. </li>
<li>Shukun has its obvious technical advantage, rich product portfolio and many registration certificates, but the Company's path to commercialization and profitability still remains to be seen.</li>
<li>Infervision and Airdoc could be the benchmark companies. Considering the strength, the moat, and the potential of Shukun, its valuation could be higher than Infervision and Airdoc.</li>
</ul>


China's AI medical imaging industry is still in its infancy, and needs to face industry supervision, data safety, potential compliance issues, doubts on commercialization prospects, NRDL coverage and increasing competition. 
Shukun has its obvious technical advantage, rich product portfolio and many registration certificates, but the Company's path to commercialization and profitability still remains to be seen.
Infervision and Airdoc could be the benchmark companies. Considering the strength, the moat, and the potential of Shukun, its valuation could be higher than Infervision and Airdoc.


Pre IPO Shukun Technology - Obvious Strength in Technology/Products but Commercialization Is the Key

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.

Cisarua Mountain Dairy / Equity Capital Markets

<ul>
<li>Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs. </li>
<li>Hong Kong IPO pipeline looks strong with Weilong Delicious Global, CANbridge Pharmaceuticals,  Asymchem Laboratories, and China Tourism Group either close to approval or seeking approval with HKEX soon.</li>
<li>Indonesia ECM is looking busier than ever this year with the launch of Cisarua Mountain Dairy (Cimory) and PT Avia Avian IPO bookbuilds this week.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs. 
Hong Kong IPO pipeline looks strong with Weilong Delicious Global, CANbridge Pharmaceuticals,  Asymchem Laboratories, and China Tourism Group either close to approval or seeking approval with HKEX soon.
Indonesia ECM is looking busier than ever this year with the launch of Cisarua Mountain Dairy (Cimory) and PT Avia Avian IPO bookbuilds this week.


ECM Weekly (14th November 2021) - Cimory, Infervision, Daiwa House REIT, Weilong Delicious

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Infervision Medical Technology / Equity Capital Markets

Infervision, a China-based AI-assisted medical imaging solution company, plans to raise up to USD 300m via a Hong Kong listing.The company's AI-medical screening and diagnostic products mainly focus on the pulmonary segment. Upon reading the company's disclosure on its core products, we are of the view that it does not provide detailed enough data closure for investors to determine if its accuracy is superior to its competitors. The company does not have a strong pre-IPO investor backing and the experience of the management team is mediocre. We do not think that the fundamentals of the company are attractive.

Infervision, a China-based AI-assisted medical imaging solution company, plans to raise up to USD 300m via a Hong Kong listing.The company's AI-medical screening and diagnostic products mainly focus on the pulmonary segment. Upon reading the company's disclosure on its core products, we are of the view that it does not provide detailed enough data closure for investors to determine if its accuracy is superior to its competitors. The company does not have a strong pre-IPO investor backing and the experience of the management team is mediocre. We do not think that the fundamentals of the company are attractive.

Infervision (推想医疗科技) Pre-IPO: Lacking Disclosure

Shukun Technology, a China-based AI-assisted medical imaging solution company, plans to raise up to USD 300m via a Hong Kong listing.Shukun's products have three main lines, covering screening and diagnosis of heart, brain and lung diseases. We had a look at its features and the clinical trial results of CoronaryDoc, CerebralDoc and LungDoc, we think its products are promising, given its accuracy and time saving for diagnosing physicians. What's more important, we like the high awareness of the products and encouraging signs of product adoption based on initial sales data. The company also has a strong investor backing and decent management experience. We recommend investors to follow the company closely.

Shukun Technology, a China-based AI-assisted medical imaging solution company, plans to raise up to USD 300m via a Hong Kong listing.Shukun's products have three main lines, covering screening and diagnosis of heart, brain and lung diseases. We had a look at its features and the clinical trial results of CoronaryDoc, CerebralDoc and LungDoc, we think its products are promising, given its accuracy and time saving for diagnosing physicians. What's more important, we like the high awareness of the products and encouraging signs of product adoption based on initial sales data. The company also has a strong investor backing and decent management experience. We recommend investors to follow the company closely.

Shukun Technology (数坤网络科技) Pre-IPO: Promising AI-Assisted Diagnosis

This year, many AI startups are preparing IPO, among which AI medical companies are one of the main forces. For example, after <a href="https://www.smartkarma.com/entities/beijing-airdoc-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:33524:1" rel="noopener">Beijing Airdoc Technology (BAT HK)</a><a href="https://www.smartkarma.com/entities/beijing-keya-medical-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:32228:1" rel="noopener">,</a> another company in this field <a href="https://www.smartkarma.com/entities/infervision-medical-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:34296:1" rel="noopener">Infervision Medical Technology (IMT HK)</a> also submitted its prospectus to the HKEX and officially started its IPO process. Infervision is an AI medical technology company dedicated to the R&amp;D and commercialization of AI medical products that precisely address the industry pain points. This article mainly analyzed the industry characteristics, the business and the concerns of the Company.

This year, many AI startups are preparing IPO, among which AI medical companies are one of the main forces. For example, after Beijing Airdoc Technology (BAT HK), another company in this field Infervision Medical Technology (IMT HK) also submitted its prospectus to the HKEX and officially started its IPO process. Infervision is an AI medical technology company dedicated to the R&amp;D and commercialization of AI medical products that precisely address the industry pain points. This article mainly analyzed the industry characteristics, the business and the concerns of the Company. 

Pre-IPO Infervision Medical Technology - Insights on Industry, Business and Concerns

Infervision Medical Technology (IMT HK)

Pre IPO Shukun Technology - Obvious Strength in Technology/Products but Commercialization Is the Key

Shukun has technical advantage, rich products and registration certificates. Due to immature industry, its path to commercialization/profitability...

Xinyao (Criss) Wang

ECM Weekly (14th November 2021) - Cimory, Infervision, Daiwa House REIT, Weilong Delicious

Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Infervision (推想医疗科技) Pre-IPO: Lacking Disclosure

Infervision, a China-based AI-assisted medical imaging solution company, plans to raise up to USD 300m via a Hong Kong listing. In this insight, we...

Ke Yan, CFA, FRM

Shukun Technology (数坤网络科技) Pre-IPO: Promising AI-Assisted Diagnosis

We look at the main AI-assisted diagnostic products of Shukun which is seeking a Hong Kong listing. The main products we reviewed include...

Ke Yan, CFA, FRM

Pre-IPO Infervision Medical Technology - Insights on Industry, Business and Concerns

This article mainly analyzed Infervision Medical Technology in terms of the AI medical industry characteristics, the business, the product layout,...

Xinyao (Criss) Wang