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

Hozon New Energy Automobile Co Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hozon-new-energy-automobile-co-ltd" target="_blank" data-smartkarma-citation="entities:43704:1" rel="noopener">Hozon New Energy Automobile</a> is looking to raise up to US$1bn in its upcoming HK IPO.</li>
<li>Hozon New Energy Automobile (HNEA) is a NEV technology company which sells cars under the Neta brand. The prices of its vehicles generally range between US$15,000 to US$45,000.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Hozon New Energy Automobile is looking to raise up to US$1bn in its upcoming HK IPO.
Hozon New Energy Automobile (HNEA) is a NEV technology company which sells cars under the Neta brand. The prices of its vehicles generally range between US$15,000 to US$45,000.
In this note, we talk about the not-so-positive aspects of the deal.


Hozon New Energy Automobile Pre-IPO - The Negatives - Remains Far from Being Profitable

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy 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

Thematic (Sector/Industry)

<ul>
<li>AAPL US/1810 HK/981 HK: iPhone 16 sees negative initial reception in China (-/+/+)</li>
<li>981 HK: SenseTime announces 54,000 GPU cluster, likely supplied by Huawei (+)</li>
<li>1810 HK/XPEV US/NIO US/LI US: Tesla officially announced that it will launch FSD in China in the first quarter of 2025.(///////)</li>
</ul>


AAPL US/1810 HK/981 HK: iPhone 16 sees negative initial reception in China (-/+/+)
981 HK: SenseTime announces 54,000 GPU cluster, likely supplied by Huawei (+)
1810 HK/XPEV US/NIO US/LI US: Tesla officially announced that it will launch FSD in China in the first quarter of 2025.(///////)


[Blue Lotus Daily]:AAPL US/1810 HK/981 HK/XPEV US/NIO US/LI US/1519 HK/ZTO US

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hozon-new-energy-automobile-co-ltd" target="_blank" data-smartkarma-citation="entities:43704:1" rel="noopener">Hozon New Energy Automobile</a> is looking to raise up to US$1bn in its upcoming HK IPO. </li>
<li>Hozon New Energy Automobile (HNEA) is a NEV technology company which sells cars under the Neta brand. The prices of its vehicles generally range between US$15,000 to US$45,000.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Hozon New Energy Automobile is looking to raise up to US$1bn in its upcoming HK IPO. 
Hozon New Energy Automobile (HNEA) is a NEV technology company which sells cars under the Neta brand. The prices of its vehicles generally range between US$15,000 to US$45,000.
In this note, we talk about the positive aspects of the deal.


Hozon New Energy Automobile Pre-IPO - The Positives - Has Been Ramping Up

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Equity Bottom-Up

<ul>
<li>ETF flows showed subdued activity during the week although the Southbound Connect platform had a minor outflow.</li>
<li>
<a href="https://www.smartkarma.com/entities/great-wall-motor-co-ltd-cb302af9-398c-4d2d-ba39-023e43287eef" target="_blank" data-smartkarma-citation="entities:128:1" rel="noopener">Great Wall Motor (2333 HK)</a> and <a href="https://www.smartkarma.com/entities/china-feihe-ltd" target="_blank" data-smartkarma-citation="entities:24413:1" rel="noopener">China Feihe (6186 HK)</a> both had positive news sentiment helping their share prices rally on better earnings announcements.
</li>
<li>
<a href="https://www.smartkarma.com/entities/new-world-development" target="_blank" data-smartkarma-citation="entities:7037:1" rel="noopener">New World Development (17 HK)</a> announced a major asset impairment write-down sending its stock to historic lows.  <a href="https://www.smartkarma.com/entities/china-tourism-group-duty-free" target="_blank" data-smartkarma-citation="entities:36229:1" rel="noopener">China Tourism Group Duty Free (1880 HK)</a> disappointed on 2Q24 sales and profits.
</li>
</ul>


ETF flows showed subdued activity during the week although the Southbound Connect platform had a minor outflow.

Great Wall Motor (2333 HK) and China Feihe (6186 HK) both had positive news sentiment helping their share prices rally on better earnings announcements.


New World Development (17 HK) announced a major asset impairment write-down sending its stock to historic lows.  China Tourism Group Duty Free (1880 HK) disappointed on 2Q24 sales and profits.



The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (September 7)

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

<ul>
<li>In August, Tesla’s shipments grew by 3% YoY, while top domestic producers’ shipments grew over 30% YoY.</li>
<li>The revenues of two domestic sneaker makers, 361 Degree and Anta, increased by 19% YoY and 14% YoY in 1H24.</li>
<li>In 2Q24, NIO’s deliveries and revenue increased by 144% YoY and 99% YoY, but its losses were still significant.</li>
</ul>


In August, Tesla’s shipments grew by 3% YoY, while top domestic producers’ shipments grew over 30% YoY.
The revenues of two domestic sneaker makers, 361 Degree and Anta, increased by 19% YoY and 14% YoY in 1H24.
In 2Q24, NIO’s deliveries and revenue increased by 144% YoY and 99% YoY, but its losses were still significant.


China Consumption Weekly (9 Sep 2024): Tesla, NIO, PDD, Anta, 361 Degree

China

Li Auto Inc. manufactures automobiles. The Company designs, develops, and sells smart new energy electric sport utility vehicles. Li Auto conducts businesses in China.

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Li Auto (LI US)

Hozon New Energy Automobile Pre-IPO - The Negatives - Remains Far from Being Profitable

Hozon New Energy Automobile is looking to raise up to US$1bn in its upcoming HK IPO. In this note, we talk about the not-so-positive aspects of the...

Sumeet Singh

[Blue Lotus Daily]:AAPL US/1810 HK/981 HK/XPEV US/NIO US/LI US/1519 HK/ZTO US

Negative initial reception for iPhone 16 in China, SenseTime announces large GPU cluster, and Tesla to launch FSD in China by Q1 2025.

Blue Lotus Research Institute

Hozon New Energy Automobile Pre-IPO - The Positives - Has Been Ramping Up

Hozon New Energy Automobile is looking to raise up to US$1bn in its upcoming HK IPO. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (September 7)

China Feihe beat estmates for 2Q with higher profits and GW Motor substantially increased international sales of EV's. NWD will take a large asset...

David Mudd

China Consumption Weekly (9 Sep 2024): Tesla, NIO, PDD, Anta, 361 Degree

In August, Tesla’s shipments grew by only 3% YoY in China, much lower than the industry average 30%. NIO denied bankruptcy.

Ming Lu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hozon New Energy Automobile Pre-IPO - The Negatives - Remains Far from Being Profitable

Hozon New Energy Automobile is looking to raise up to US$1bn in its upcoming HK IPO. In this note, we talk about the not-so-positive aspects of the...

Sumeet Singh

[Blue Lotus Daily]:AAPL US/1810 HK/981 HK/XPEV US/NIO US/LI US/1519 HK/ZTO US

​Negative initial reception for iPhone 16 in China, SenseTime announces large GPU cluster, and Tesla to launch FSD in China by Q1 2025.

Blue Lotus Research Institute

Hozon New Energy Automobile Pre-IPO - The Positives - Has Been Ramping Up

Hozon New Energy Automobile is looking to raise up to US$1bn in its upcoming HK IPO. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (September 7)

China Feihe beat estmates for 2Q with higher profits and GW Motor substantially increased international sales of EV's. NWD will take a large asset...

David Mudd

China Consumption Weekly (9 Sep 2024): Tesla, NIO, PDD, Anta, 361 Degree

In August, Tesla’s shipments grew by only 3% YoY in China, much lower than the industry average 30%. NIO denied bankruptcy.

Ming Lu

Negative initial reception for iPhone 16 in China, SenseTime announces large GPU cluster, and Tesla to launch FSD in China by Q1 2025.