External broker reports(aggregated public sources), KGI Securities Singapore

KGI Securities

External broker reports(aggregated public sources)

KGI Securities Singapore

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Equity Bottom-Up

Infinity Development Holdings Company Limited / Equity Bottom-Up

Infinity Development Holdings Company Limited

<ul><li>Dual listing on SGX Catalist. Infinity Development Holdings launched an all-placement IPO of 35.1mn shares at S$0.39, raising S$13.7mn to list its existing and new shares on the Singapore Exchange Catalist Board, enabling dual trading on HKEX and SGX-ST.</li><li>Trading on SGX-ST will commence on 3 December 2025.</li><li>One of the top Asia’s footwear adhesive producers. Infinity ranks among the top three adhesive producers in Asia with a market share of approximately 6.6%-9.0% in 2023</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Dual listing on SGX Catalist. Infinity Development Holdings launched an all-placement IPO of 35.1mn shares at S$0.39, raising S$13.7mn to list its existing and new shares on the Singapore Exchange Catalist Board, enabling dual trading on HKEX and SGX-ST.Trading on SGX-ST will commence on 3 December 2025.One of the top Asia’s footwear adhesive producers. Infinity ranks among the top three adhesive producers in Asia with a market share of approximately 6.6%-9.0% in 2023Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Infinity Development Hldgs Ltd. (ZBA.SI / 640 HK): Amass War Chest To Expand Regional Footprint

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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

Hong Kong Exchange publishes share repurchases by listed companies on a daily basis. In our weekly note, we will provide statistics on top repurchases over one week, one month, one quarter and one year periods.In the past 7 days, the top 3 companies that repurchased the most shares from the market were <a href="https://www.smartkarma.com/entities/link-reit" target="_blank" data-smartkarma-citation="entities:872:1" rel="noopener">Link REIT (823 HK)</a> (HKD 149.5 million worth of buybacks), <a href="https://www.smartkarma.com/entities/fosun-international-ltd" target="_blank" data-smartkarma-citation="entities:433:1" rel="noopener">Fosun International (656 HK)</a> (HKD 41.3 million worth of buybacks), <a href="https://www.smartkarma.com/entities/infinity-chemical-holdings-company-ltd" target="_blank" data-smartkarma-citation="entities:20508:1" rel="noopener">Infinity Chemical Holdings Company Ltd (640 HK)</a> (HKD 15.0 million worth of buybacks). There were 13 companies that repurchased shares in the market. These repurchases amounted to HKD 238.9 million.In the past 30 days, the top 3 companies that repurchased the most shares from the market were Link Reit (823 HK) (HKD 585.2 million worth of buybacks), Fosun International Limited (656 HK) (HKD 185.8 million worth of buybacks), <a href="https://www.smartkarma.com/entities/china-medical-system-holdings" target="_blank" data-smartkarma-citation="entities:18736:1" rel="noopener">China Medical System (867 HK)</a> (HKD 98.2 million worth of buybacks).In the past 90 days, the top 3 companies that repurchased the most shares from the market were Link Reit (823 HK) (HKD 2,541.5 million worth of buybacks), Fosun International Limited (656 HK) (HKD 246.0 million worth of buybacks), Bosideng International Holdings Limited (3998 HK) (HKD 150.3 million worth of buybacks).In the past 365 days, the top 3 companies that repurchased the most shares from the market were Hsbc Holdings Plc (5 HK) (HKD 7,813.7 million worth of buybacks), Link Reit (823 HK) (HKD 4,083.0 million worth of buybacks), Xiaomi Corporation (1810 HK) (HKD 2,914.3 million worth of buybacks).

Hong Kong Exchange publishes share repurchases by listed companies on a daily basis. In our weekly note, we will provide statistics on top repurchases over one week, one month, one quarter and one year periods.In the past 7 days, the top 3 companies that repurchased the most shares from the market were Link REIT (823 HK) (HKD 149.5 million worth of buybacks), Fosun International (656 HK) (HKD 41.3 million worth of buybacks), Infinity Chemical Holdings Company Ltd (640 HK) (HKD 15.0 million worth of buybacks). There were 13 companies that repurchased shares in the market. These repurchases amounted to HKD 238.9 million.In the past 30 days, the top 3 companies that repurchased the most shares from the market were Link Reit (823 HK) (HKD 585.2 million worth of buybacks), Fosun International Limited (656 HK) (HKD 185.8 million worth of buybacks), China Medical System (867 HK) (HKD 98.2 million worth of buybacks).In the past 90 days, the top 3 companies that repurchased the most shares from the market were Link Reit (823 HK) (HKD 2,541.5 million worth of buybacks), Fosun International Limited (656 HK) (HKD 246.0 million worth of buybacks), Bosideng International Holdings Limited (3998 HK) (HKD 150.3 million worth of buybacks).In the past 365 days, the top 3 companies that repurchased the most shares from the market were Hsbc Holdings Plc (5 HK) (HKD 7,813.7 million worth of buybacks), Link Reit (823 HK) (HKD 4,083.0 million worth of buybacks), Xiaomi Corporation (1810 HK) (HKD 2,914.3 million worth of buybacks).

Hong Kong Buyback Weekly: Link Reit, Fosun, Infinity Dev

Hong Kong

Infinity Development Holdings Company Limited produces, develops, and sells adhesives and primers as well as distributes hardeners. The Company's products are used by customers that manufacture footwear in the Peoples Republic of China and Vietnam.

Infinity Development Holdings Company Limited (640 HK)

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Infinity Development Holdings Company Limited (640 HK)

Infinity Development Hldgs Ltd. (ZBA.SI / 640 HK): Amass War Chest To Expand Regional Footprint

Infinity Development Holdings launched an all-placement IPO of 35.1mn shares at S$0.39, raising S$13.7mn to list its existing and new shares on the...

KGI Securities

Hong Kong Buyback Weekly: Link Reit, Fosun, Infinity Dev

Hong Kong Exchange publishes share repurchases by listed companies on a daily basis. In our weekly note, we will provide statistics on top...

Ke Yan, CFA, FRM

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)