APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC 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.

Equity Capital Markets

Growatt Technology / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/growatt-new-energy-technology" target="_blank" data-smartkarma-citation="entities:36103:1" rel="noopener">Growatt Technology (1833969D CH)</a> is looking to raise about US$1bn in its upcoming Hong Kong IPO. </li>
<li>Growatt Technology is a global distributed energy solution provider, specializing in sustainable energy generation, storage and consumption, as well as energy digitalization.</li>
<li>In our previous notes, we looked at the company’s past performance, peer comparison and our thoughts on valuation. In this note, we will talk about the updates from its PHIP.</li>
</ul>



Growatt Technology (1833969D CH) is looking to raise about US$1bn in its upcoming Hong Kong IPO. 
Growatt Technology is a global distributed energy solution provider, specializing in sustainable energy generation, storage and consumption, as well as energy digitalization.
In our previous notes, we looked at the company’s past performance, peer comparison and our thoughts on valuation. In this note, we will talk about the updates from its PHIP.


Growatt Technology Pre-IPO - PHIP Updates - Profitability Still Accelerating

<ul>
<li>
<a href="https://www.smartkarma.com/entities/growatt-new-energy-technology" target="_blank" data-smartkarma-citation="entities:36103:1" rel="noopener">Growatt Technology (1833969D CH)</a> is looking to raise about US$500m in its upcoming Hong Kong IPO. </li>
<li>Growatt Technology is a global distributed energy solution provider, specializing in sustainable energy generation, storage and consumption, as well as energy digitalization. </li>
<li>In our previous notes, we looked at the company’s past performance and peer comparison. In this note, we will look at assumptions and share our thoughts on valuation.</li>
</ul>



Growatt Technology (1833969D CH) is looking to raise about US$500m in its upcoming Hong Kong IPO. 
Growatt Technology is a global distributed energy solution provider, specializing in sustainable energy generation, storage and consumption, as well as energy digitalization. 
In our previous notes, we looked at the company’s past performance and peer comparison. In this note, we will look at assumptions and share our thoughts on valuation.


Growatt Technology Pre-IPO - Thoughts on Valuation

<ul>
<li>
<a href="https://www.smartkarma.com/entities/growatt-technology" target="_blank" data-smartkarma-citation="entities:36103:1" rel="noopener">Growatt Technology (1833969D CH)</a> is looking to raise about US$500m in its upcoming Hong Kong IPO. </li>
<li>Growatt Technology is a global distributed energy solution provider, specializing in sustainable energy generation, storage and consumption, as well as energy digitalization. </li>
<li>In our previous notes, we looked at the company’s past performance. In this note, we undertake a peer comparison.</li>
</ul>



Growatt Technology (1833969D CH) is looking to raise about US$500m in its upcoming Hong Kong IPO. 
Growatt Technology is a global distributed energy solution provider, specializing in sustainable energy generation, storage and consumption, as well as energy digitalization. 
In our previous notes, we looked at the company’s past performance. In this note, we undertake a peer comparison.


Growatt Technology Pre-IPO Peer Comparison - Performed Well on Many Fronts

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.</li>
<li>Overall, net outflow over the past week was ~US$0.15bn, split between Shanghai (+US$0.05bn) and Shenzhen (-US$0.20bn).</li>
<li>The largest inflows were into <a href="https://www.smartkarma.com/entities/kweichow-moutai-co-ltd-a" target="_blank" data-smartkarma-citation="entities:1553:1" rel="noopener">Kweichow Moutai (600519 CH)</a> and <a href="https://www.smartkarma.com/entities/zhejiang-huayou-cobalt-co-ltd" target="_blank" data-smartkarma-citation="entities:25048:1" rel="noopener">Zhejiang Huayou Cobalt (603799 CH)</a>. The largest outflows were in <a href="https://www.smartkarma.com/entities/longi-green-energy-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:12703:1" rel="noopener">LONGi Green Energy Technology (601012 CH)</a> and <a href="https://www.smartkarma.com/entities/contemporary-amperex-techn-a" target="_blank" data-smartkarma-citation="entities:24404:1" rel="noopener">CATL (300750 CH)</a>.</li>
</ul>


Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.
Overall, net outflow over the past week was ~US$0.15bn, split between Shanghai (+US$0.05bn) and Shenzhen (-US$0.20bn).
The largest inflows were into Kweichow Moutai (600519 CH) and Zhejiang Huayou Cobalt (603799 CH). The largest outflows were in LONGi Green Energy Technology (601012 CH) and CATL (300750 CH).


Shanghai/​​​​​​​​​​​​​​​Shenzhen Northbound Connect: Weekly Moves (7 October 2022)

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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>We estimate that inflows for June was USD 11bn, led by consumer staple and financial sectors.</li>
<li>We highlight monthly inflows into Moutai, Yili, East Money, Tongwei, and Inovance.</li>
</ul>


We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.
We estimate that inflows for June was USD 11bn, led by consumer staple and financial sectors.
We highlight monthly inflows into Moutai, Yili, East Money, Tongwei, and Inovance.


Northbound Flows Monthly (June): $11bn Inflows

China

GoodWe Technologies Co.,Ltd produces and sells power supply equipment. The Compa ny manufactures and sells photovoltaic grid-connected inverter, photovoltaic ene rgy storage inverter, intelligent data collector, and other products. GoodWe Tec hnologies markets its products primarily throughout China with limited overseas.

Price Gauge
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GoodWe Technologies (688390 CH)

Growatt Technology Pre-IPO - PHIP Updates - Profitability Still Accelerating

Growatt Technology (1833969D CH) is looking to raise about US$1bn in its upcoming Hong Kong IPO. In this note, we will talk about the updates from...

Ethan Aw

Growatt Technology Pre-IPO - Thoughts on Valuation

Growatt Technology (1833969D CH) is looking to raise about US$500m in its upcoming Hong Kong IPO. In this note, we will look at assumptions and...

Ethan Aw

Growatt Technology Pre-IPO Peer Comparison - Performed Well on Many Fronts

Growatt Technology (1833969D CH) is looking to raise about US$500m in its upcoming Hong Kong IPO. In this note, we undertake a peer comparison.

Ethan Aw

Shanghai/Shenzhen Northbound Connect: Weekly Moves (7 October 2022)

Overall, net outflow over the past week in the HK -Shanghai-Shenzhen Northbound Connect facilities was ~US$0.15bn, split between Shanghai...

David Blennerhassett

Northbound Flows Monthly (June): $11bn Inflows

We estimate $11bn inflow into A-share market through northbound in June and highlight monthly inflows into Moutai, Yili, East Money, Tongwei, and...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Growatt Technology Pre-IPO - PHIP Updates - Profitability Still Accelerating

Growatt Technology (1833969D CH) is looking to raise about US$1bn in its upcoming Hong Kong IPO. In this note, we will talk about the updates from...

Ethan Aw

Growatt Technology Pre-IPO - Thoughts on Valuation

Growatt Technology (1833969D CH) is looking to raise about US$500m in its upcoming Hong Kong IPO. In this note, we will look at assumptions and...

Ethan Aw

Growatt Technology Pre-IPO Peer Comparison - Performed Well on Many Fronts

Growatt Technology (1833969D CH) is looking to raise about US$500m in its upcoming Hong Kong IPO. In this note, we undertake a peer comparison.

Ethan Aw

Shanghai/​​​​​​​​​​​​​​​Shenzhen Northbound Connect: Weekly Moves (7 October 2022)

Overall, net outflow over the past week in the HK -Shanghai-Shenzhen Northbound Connect facilities was ~US$0.15bn, split between Shanghai...

David Blennerhassett

Northbound Flows Monthly (June): $11bn Inflows

We estimate $11bn inflow into A-share market through northbound in June and highlight monthly inflows into Moutai, Yili, East Money, Tongwei, and...

Ke Yan, CFA, FRM

Shanghai/Shenzhen Northbound Connect: Weekly Moves (7 October 2022)