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>On 8th Mar 2022, Securities Exchange Commission (SEC) added five China ADR names to its provisional list of issuers under the Holding Foreign Companies Accountable Act (HFCAA).</li>
<li>There is nothing new about the list, on 2nd Dec 2021, SEC had issued final amendments to implement the HFCAA which had already spoken about the list and its implications.</li>
<li>In this note, we'll talk about the latest developments its possible timelines and implications.</li>
</ul>


On 8th Mar 2022, Securities Exchange Commission (SEC) added five China ADR names to its provisional list of issuers under the Holding Foreign Companies Accountable Act (HFCAA).
There is nothing new about the list, on 2nd Dec 2021, SEC had issued final amendments to implement the HFCAA which had already spoken about the list and its implications.
In this note, we'll talk about the latest developments its possible timelines and implications.


China ADRs Delisting - SEC Sets the Clock Ticking and Sends China ADRs Tripping

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Cover Story: The reshaping of the world as Ukraine war rages on</li><li>China willing to mediate in Ukraine crisis, foreign minister says</li><li>Roundup: What the government work report told us about China’s 2022 economic plans</li></ul>

Cover Story: The reshaping of the world as Ukraine war rages onChina willing to mediate in Ukraine crisis, foreign minister saysRoundup: What the government work report told us about China’s 2022 economic plans

CX Daily: The Reshaping of the World as Ukraine War Rages On

Equity Analyst, LightStream Research

Shifara Samsudeen, FCMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/iqiyi-inc" target="_blank" data-smartkarma-citation="entities:26755:1" rel="noopener">IQIYI Inc (IQ US)</a> reported 4Q and full-year 2021 results on Tuesday. Revenue for the quarter declined 0.9% YoY to RMB7.39bn (vs consensus RMB7.31bn).</li>
<li>Operating losses for the quarter was RMB975.2m (vs consensus RMB1.33bn), about 13.2% of revenues compared to RMB1.31bn (17.5% of revenues) in 4Q2020.</li>
<li>IQiyi’s ADRs jumped 21.5% at the end of Tuesday’s close as the company mentioned that it expects quarterly non-GAAP operating break-even as soon as possible.</li>
</ul>



IQIYI Inc (IQ US) reported 4Q and full-year 2021 results on Tuesday. Revenue for the quarter declined 0.9% YoY to RMB7.39bn (vs consensus RMB7.31bn).
Operating losses for the quarter was RMB975.2m (vs consensus RMB1.33bn), about 13.2% of revenues compared to RMB1.31bn (17.5% of revenues) in 4Q2020.
IQiyi’s ADRs jumped 21.5% at the end of Tuesday’s close as the company mentioned that it expects quarterly non-GAAP operating break-even as soon as possible.


IQiyi: Huge Drop in Operating Losses Despite Flat Revenues; Path to Profits Becoming Clear

<ul><li>In Depth: China’s fintech plan part two puts data, risk control in driving seat</li><li>China considers ‘China-style’ strategy to coexist with Covid, top disease experts say</li><li>Analysis: China’s CIPS won’t rescue Russian banks from SWIFT ban</li></ul>

In Depth: China’s fintech plan part two puts data, risk control in driving seatChina considers ‘China-style’ strategy to coexist with Covid, top disease experts sayAnalysis: China’s CIPS won’t rescue Russian banks from SWIFT ban

CX Daily: China’s CIPS Won’t Rescue Russian Banks from SWIFT Ban

<ul>
<li>On 2nd Dec 2021, Securities Exchange Commission (SEC) issued Final amendments to implement the Holding Foreign Companies Accountable Act (HFCAA).</li>
<li>On 24th Mar 2021, SEC had issued Amendments, Seeks Public Comment on HFCAA. This was a follow up on the HFCAA.</li>
<li>In this note, we'll talk about the final amendments and its possible timelines and implications, and a possible trade setup.</li>
</ul>


On 2nd Dec 2021, Securities Exchange Commission (SEC) issued Final amendments to implement the Holding Foreign Companies Accountable Act (HFCAA).
On 24th Mar 2021, SEC had issued Amendments, Seeks Public Comment on HFCAA. This was a follow up on the HFCAA.
In this note, we'll talk about the final amendments and its possible timelines and implications, and a possible trade setup.


China ADRs Delisting - US Tightens and HK Loosens Requirements - Long/Short Basket Trade

China

iQIYI, Inc. offers video entertainment services. The Company provides movies, television dramas, variety shows, and other video contents. iQIYI offers services worldwide.

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iQIYI Inc (IQ US)

China ADRs Delisting - SEC Sets the Clock Ticking and Sends China ADRs Tripping

On 8th Mar 2022, Securities Exchange Commission (SEC) added five China ADR names to its provisional list of issuers under the Holding Foreign...

Sumeet Singh

CX Daily: The Reshaping of the World as Ukraine War Rages On

Cover Story: The reshaping of the world as Ukraine war rages on. China willing to mediate in Ukraine crisis, foreign minister says

Caixin Global

IQiyi: Huge Drop in Operating Losses Despite Flat Revenues; Path to Profits Becoming Clear

During iQiyi's 4Q2021 earnings call, the company mentioned that it expects quarterly non-GAAP operating breakeven as soon as possible. We discuss...

Shifara Samsudeen, FCMA, CGMA

CX Daily: China’s CIPS Won’t Rescue Russian Banks from SWIFT Ban

In Depth: China’s fintech plan part two puts data, risk control in driving seat. China considers ‘China-style’ strategy to coexist with Covid, top...

Caixin Global

China ADRs Delisting - US Tightens and HK Loosens Requirements - Long/Short Basket Trade

On 2nd Dec 2021, SEC issued Final amendments to implement the Holding Foreign Companies Accountable Act. In this note we will talk about the final...

Sumeet Singh

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