Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Thematic (Sector/Industry)

<ul>
<li>The global robotics industry is experiencing rapid growth as the combination of AI and manufacturing efficiency feed demand for robotic products. As a global robotics leader China's companies are benefiting.</li>
<li>Global robotics industry is projected to double over the next few years to over $150 billion by 2030.  China is the world's largest market for industrial robots.</li>
<li>China's leading robotics companies serve industrial industries like auto, equipment, and electronics, as well as service industries like healthcare, biotech, logistics, and hospitality.</li>
</ul>


The global robotics industry is experiencing rapid growth as the combination of AI and manufacturing efficiency feed demand for robotic products. As a global robotics leader China's companies are benefiting.
Global robotics industry is projected to double over the next few years to over $150 billion by 2030.  China is the world's largest market for industrial robots.
China's leading robotics companies serve industrial industries like auto, equipment, and electronics, as well as service industries like healthcare, biotech, logistics, and hospitality.


China Robotics: EVOLUTION OF THE HUMANOID RACE

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.

Equity Capital Markets

Suzhou Novosense Microelectron / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/suzhou-novosense-microelectron" target="_blank" data-smartkarma-citation="entities:36368:1" rel="noopener">Suzhou Novosense Microelectron (688052 CH)</a>, an analog chips producer, aims to raise around US$285m in its H-share listing.</li>
<li>According to Frost &amp; Sullivan, in terms of revenue from analog chips in 2024, SNM ranked fifth among Chinese analog chip companies in the Chinese analog chip market.</li>
<li>We have looked at the past performance and likely A/H premium in our previous note. In this note, we talk about the IPO pricing.</li>
</ul>



Suzhou Novosense Microelectron (688052 CH), an analog chips producer, aims to raise around US$285m in its H-share listing.
According to Frost &amp; Sullivan, in terms of revenue from analog chips in 2024, SNM ranked fifth among Chinese analog chip companies in the Chinese analog chip market.
We have looked at the past performance and likely A/H premium in our previous note. In this note, we talk about the IPO pricing.


Suzhou Novosense A/H Listing - Strong Growth but Lacks Margin Stability

<ul>
<li>
<a href="https://www.smartkarma.com/entities/suzhou-novosense-microelectron" target="_blank" data-smartkarma-citation="entities:36368:1" rel="noopener">Suzhou Novosense Microelectron (688052 CH)</a>, an analog chips producer, aims to raise around US$500m in its H-share listing.</li>
<li>According to Frost &amp; Sullivan, in terms of revenue from analog chips in 2024, SNM ranked fifth among Chinese analog chip companies in the Chinese analog chip market.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Suzhou Novosense Microelectron (688052 CH), an analog chips producer, aims to raise around US$500m in its H-share listing.
According to Frost &amp; Sullivan, in terms of revenue from analog chips in 2024, SNM ranked fifth among Chinese analog chip companies in the Chinese analog chip market.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Suzhou Novosense A/H Listing - Growth Has Been Strong but Margins Weak

Shenzhen Zhaowei Machinery / Equity Capital Markets

<ul>
<li>Shenzhen Zhaowei Machinery &amp; Electronics (003021 CH), aims to raise around US$700m in its H-share listing.</li>
<li>Shenzhen Zhaowei Machinery &amp; Electronic (SZME) is a provider of integrated micro transmission and drive system solutions ranking first in China and fourth globally by revenue, according to F&amp;S.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>


Shenzhen Zhaowei Machinery &amp; Electronics (003021 CH), aims to raise around US$700m in its H-share listing.
Shenzhen Zhaowei Machinery &amp; Electronic (SZME) is a provider of integrated micro transmission and drive system solutions ranking first in China and fourth globally by revenue, according to F&amp;S.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Shenzhen Zhaowei A/H Listing - Autos Thriving but Robotics Driving Share Price

Sany Heavy Industry / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sany-heavy-industry-co-ltd" target="_blank" data-smartkarma-citation="entities:20183:1" rel="noopener">Sany Heavy Industry (600031 CH)</a>, raised around US$2.0bn in its H-share listing.</li>
<li>Sany Heavy Industry was the world’s third largest and China’s largest construction machinery company in terms of construction machinery’s cumulative revenue from 2020 to 2024, according to Frost &amp; Sullivan.</li>
<li>We have looked at the past performance and valuation in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>



Sany Heavy Industry (600031 CH), raised around US$2.0bn in its H-share listing.
Sany Heavy Industry was the world’s third largest and China’s largest construction machinery company in terms of construction machinery’s cumulative revenue from 2020 to 2024, according to Frost &amp; Sullivan.
We have looked at the past performance and valuation in our previous note. In this note, we talk about the trading dynamics.


Sany Heavy Industries A/H Trading - Strong Insti, Weak Retail. Pricing Still Tight

China

Lens Technology Co., Ltd. manufactures optical products. The Company produces optical lenses and other products. Lens Technology also produces electronic components, metal parts, and other products.

Price Gauge
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Lens Technology (300433 CH)

China Robotics: EVOLUTION OF THE HUMANOID RACE

Global robotics is experiencing rapid growth as the combination of AI & manufacturing efficiency grow robotic product demand. Rapid industry growth...

David Mudd

Suzhou Novosense A/H Listing - Strong Growth but Lacks Margin Stability

Suzhou Novosense Microelectron (688052 CH), an analog chips producer, aims to raise around US$285m in its H-share listing. In this note, we talk...

Sumeet Singh

Suzhou Novosense A/H Listing - Growth Has Been Strong but Margins Weak

The deal is now live with the company looking to raise a smaller amount of US$285m, as expected. We will follow-up with another note looking at...

Sumeet Singh

Sany Heavy Industries A/H Trading - Strong Insti, Weak Retail. Pricing Still Tight

Sany Heavy Industry (600031 CH), raised around US$2.0bn in its H-share listing. In this note, we talk about the trading dynamics.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

China Robotics: EVOLUTION OF THE HUMANOID RACE

Global robotics is experiencing rapid growth as the combination of AI & manufacturing efficiency grow robotic product demand. Rapid industry growth...

David Mudd

Suzhou Novosense A/H Listing - Strong Growth but Lacks Margin Stability

Suzhou Novosense Microelectron (688052 CH), an analog chips producer, aims to raise around US$285m in its H-share listing. In this note, we talk...

Sumeet Singh

Suzhou Novosense A/H Listing - Growth Has Been Strong but Margins Weak

The deal is now live with the company looking to raise a smaller amount of US$285m, as expected. We will follow-up with another note looking at...

Sumeet Singh

Shenzhen Zhaowei A/H Listing - Autos Thriving but Robotics Driving Share Price

Shenzhen Zhaowei Machinery & Electronics (003021 CH), aims to raise around US$700m in its H-share listing. In this note, we look at the company's...

Sumeet Singh

Sany Heavy Industries A/H Trading - Strong Insti, Weak Retail. Pricing Still Tight

Sany Heavy Industry (600031 CH), raised around US$2.0bn in its H-share listing. In this note, we talk about the trading dynamics.

Sumeet Singh