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

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Nov 15th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were AIA (1299 HK), Cosco Shipping (1919 HK), Sinopec (386 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were AIA (1299 HK), Cosco Shipping (1919 HK), Swire Pacific (19 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Nov 15th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were AIA (1299 HK), Cosco Shipping (1919 HK), Sinopec (386 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were AIA (1299 HK), Cosco Shipping (1919 HK), Swire Pacific (19 HK).


Hong Kong Buybacks Weekly (Nov 15th): AIA, Cosco Shipping, Sinopec

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Equity Bottom-Up

<ul>
<li>We expect Kuaishou to report C3Q24 revenue, IFRS operating profit and IFRS net income in-line, 5.9%, and 7.0% vs. consensus.</li>
<li>The quarter is marked by robust advertising but moderated GMV growth due to weak consumption. </li>
<li>We maintain our BUY rating and TP of HK$75 . </li>
</ul>


We expect Kuaishou to report C3Q24 revenue, IFRS operating profit and IFRS net income in-line, 5.9%, and 7.0% vs. consensus.
The quarter is marked by robust advertising but moderated GMV growth due to weak consumption. 
We maintain our BUY rating and TP of HK$75 . 


[Kuaishou (1024 HK, BUY, TP HK$75) Preview]: C3Q24 Preview: Solid Growth and Faster Growth Ahead

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/maanshan-dingtai-rare-a" target="_blank" data-smartkarma-citation="entities:4128:1" rel="noopener">S.F. Holding (002352 CH)</a> (SFH), China’s largest express delivery company, is now said to be looking to raise around US$1-1.5bn in its H-share listing in Hong Kong.</li>
<li>SFH is the largest integrated express logistics service provider in China and the fourth largest in the world. It has been listed on the Shenzhen Stock Exchange since 2017.</li>
<li>We have covered the company and deal background in our previous notes. In this note, we talk about the past A/H listing and possible premium.</li>
</ul>



S.F. Holding (002352 CH) (SFH), China’s largest express delivery company, is now said to be looking to raise around US$1-1.5bn in its H-share listing in Hong Kong.
SFH is the largest integrated express logistics service provider in China and the fourth largest in the world. It has been listed on the Shenzhen Stock Exchange since 2017.
We have covered the company and deal background in our previous notes. In this note, we talk about the past A/H listing and possible premium.


SF Holdings A/H Listing - Thoughts on A/H Premium and past A/H Listings

Thematic (Sector/Industry)

<ul>
<li>JD US/3690 HK:JD.com to Launch Self-operated On-Demand Delivery Service. (+/-)</li>
<li>JD US/BABA US/1810 HK:Shanghai expands the products eligible for home appliance subsidies (+/+/+)</li>
<li>BABA US / 700 HK: Alipay suffers brief outage. (-/+)</li>
</ul>


JD US/3690 HK:JD.com to Launch Self-operated On-Demand Delivery Service. (+/-)
JD US/BABA US/1810 HK:Shanghai expands the products eligible for home appliance subsidies (+/+/+)
BABA US / 700 HK: Alipay suffers brief outage. (-/+)


[Blue Lotus Daily-TMT Update]:JD/3690 HK/BABA/1810 HK/700 HK/BILI/1024 HK/BIDU/20 HK/NTES/SE/GRAB

<ul>
<li>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.</li>
<li>On the IPOs front, Indian deals flow seemed to be the only one continuing unbated despite the US elections overhang from the past week. </li>
<li>On the placements front, there weren't many large deals but we did look at upcoming lockup expiries.</li>
</ul>


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.
On the IPOs front, Indian deals flow seemed to be the only one continuing unbated despite the US elections overhang from the past week. 
On the placements front, there weren't many large deals but we did look at upcoming lockup expiries.


ECM Weekly (11th Nov 2024)-SF Holdings, Swiggy, ACME, NivaBupa, Sagility, Eternal Beauty, Shuangdeng

China

Kuaishou Technology operates as a content community and social platform. The Company helps users create, upload and watch short videos on mobile devices. Kuaishou Technology offers services worldwide.

Price Gauge
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Kuaishou Technology (1024 HK)

Hong Kong Buybacks Weekly (Nov 15th): AIA, Cosco Shipping, Sinopec

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were AIA (1299 HK),...

Ke Yan, CFA, FRM

[Kuaishou (1024 HK, BUY, TP HK$75) Preview]: C3Q24 Preview: Solid Growth and Faster Growth Ahead

Kuaishou's C3Q24 results meet expectations with strong advertising but slower GMV growth, prompting analysts to maintain a BUY rating with a...

Blue Lotus Research Institute

SF Holdings A/H Listing - Thoughts on A/H Premium and past A/H Listings

S.F. Holding (002352 CH) is now said to be looking to raise around US$1-1.5bn in its H-share listing in Hong Kong. In this note, we talk about the...

Sumeet Singh

[Blue Lotus Daily-TMT Update]:JD/3690 HK/BABA/1810 HK/700 HK/BILI/1024 HK/BIDU/20 HK/NTES/SE/GRAB

JD.com is launching a self-operated on-demand delivery service, Shanghai expands home appliance subsidies, and Alipay experiences a brief outage.

Blue Lotus Research Institute

ECM Weekly (11th Nov 2024)-SF Holdings, Swiggy, ACME, NivaBupa, Sagility, Eternal Beauty, Shuangdeng

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.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Buybacks Weekly (Nov 15th): AIA, Cosco Shipping, Sinopec

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were AIA (1299 HK),...

Ke Yan, CFA, FRM

[Kuaishou (1024 HK, BUY, TP HK$75) Preview]: C3Q24 Preview: Solid Growth and Faster Growth Ahead

​Kuaishou's C3Q24 results meet expectations with strong advertising but slower GMV growth, prompting analysts to maintain a BUY rating with a...

Blue Lotus Research Institute

SF Holdings A/H Listing - Thoughts on A/H Premium and past A/H Listings

S.F. Holding (002352 CH) is now said to be looking to raise around US$1-1.5bn in its H-share listing in Hong Kong. In this note, we talk about the...

Sumeet Singh

[Blue Lotus Daily-TMT Update]:JD/3690 HK/BABA/1810 HK/700 HK/BILI/1024 HK/BIDU/20 HK/NTES/SE/GRAB

​JD.com is launching a self-operated on-demand delivery service, Shanghai expands home appliance subsidies, and Alipay experiences a brief outage.

Blue Lotus Research Institute

ECM Weekly (11th Nov 2024)-SF Holdings, Swiggy, ACME, NivaBupa, Sagility, Eternal Beauty, Shuangdeng

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.

Sumeet Singh

Kuaishou's C3Q24 results meet expectations with strong advertising but slower GMV growth, prompting analysts to maintain a BUY rating with a...

JD.com is launching a self-operated on-demand delivery service, Shanghai expands home appliance subsidies, and Alipay experiences a brief outage.