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Caixin Global

Articles from Caixin Global

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Cross Asset Strategy

<ul><li>Cover Story: China’s AI Battle Moves From Chatbots to Agents Upload a set of spreadsheets to Tencent’s WorkBuddy and an agent can analyze the data and build an interactive dashboard.</li><li>Ask ByteDance’s Doubao Work to go through product comments, and it can identify what buyers like, recommend products to promote, and prepare advertising images and copy in several languages.</li><li>China’s Bank Resolution Regime Rated ‘Materially Non-Compliant’ by Global Watchdog The Chinese mainland’s bank resolution regime was rated “materially non-compliant” by the Financial Stability Board (FSB), which cited limited funding capacity and insufficient operational readiness for managing the failure of systemically important lenders.</li></ul>

Cover Story: China’s AI Battle Moves From Chatbots to Agents Upload a set of spreadsheets to Tencent’s WorkBuddy and an agent can analyze the data and build an interactive dashboard.Ask ByteDance’s Doubao Work to go through product comments, and it can identify what buyers like, recommend products to promote, and prepare advertising images and copy in several languages.China’s Bank Resolution Regime Rated ‘Materially Non-Compliant’ by Global Watchdog The Chinese mainland’s bank resolution regime was rated “materially non-compliant” by the Financial Stability Board (FSB), which cited limited funding capacity and insufficient operational readiness for managing the failure of systemically important lenders.

CX Daily: China’s AI Battle Moves From Chatbots to Agents 

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Equity Capital Markets

Luxshare Precision Industry / Equity Capital Markets

<ul>
<li>We update our HK A+H listing study with 13 deals since our April analysis, extending the study universe to 43 listings since 2025.</li>
<li>Aftermarket returns have rolled over. 3Q26 to date is the weakest quarter since 4Q25, with one positive deal in six.</li>
<li>The international cornerstone screen has lost selectivity. Deep pricing discounts and premium compression now explain more of the positive deals.</li>
</ul>


We update our HK A+H listing study with 13 deals since our April analysis, extending the study universe to 43 listings since 2025.
Aftermarket returns have rolled over. 3Q26 to date is the weakest quarter since 4Q25, with one positive deal in six.
The international cornerstone screen has lost selectivity. Deep pricing discounts and premium compression now explain more of the positive deals.


HK A+H IPO 2026: Supply Congestion, Stalled Premium Compression [Update 2]

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.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/luxshare-precision-industry-co-ltd-3f59eaa1-da7f-4d9b-add0-c8efccfee0d5" target="_blank" data-smartkarma-citation="entities:50296:1" rel="noopener">Luxshare Precision Industry (2475 HK)</a> (LP), a precision intelligent manufacturer, raised around US$3.5bn in its H-share listing.</li>
<li>LP provides cross-sector, vertically integrated development and intelligent manufacturing solutions—from components and modules to systems—for global clients across consumer electronics, automotive electronics, communication and data centers, and other end markets.</li>
<li>We have looked at the past performance and valuations in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>



Luxshare Precision Industry (2475 HK) (LP), a precision intelligent manufacturer, raised around US$3.5bn in its H-share listing.
LP provides cross-sector, vertically integrated development and intelligent manufacturing solutions—from components and modules to systems—for global clients across consumer electronics, automotive electronics, communication and data centers, and other end markets.
We have looked at the past performance and valuations in our previous note. In this note, we talk about the trading dynamics.


Aequitas: Luxshare Precision Trading - Weak Demand, Discount Has Narrowed

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

<ul>
<li>Luxshare Precision, a consumer electronics precision components and EMS manufacturer, raised HKD 24,039.1m (USD 3,089.9m) in net proceeds and will list on the HKEX on Thursday, July 9, 2026.</li>
<li>In our previous notes, we looked at the company's fundamentals and the deal terms.</li>
<li>In this note, we provide an update for the IPO before its trading debut.</li>
</ul>


Luxshare Precision, a consumer electronics precision components and EMS manufacturer, raised HKD 24,039.1m (USD 3,089.9m) in net proceeds and will list on the HKEX on Thursday, July 9, 2026.
In our previous notes, we looked at the company's fundamentals and the deal terms.
In this note, we provide an update for the IPO before its trading debut.


Luxshare Precision (立讯精密) IPO Trading

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/luxshare-precision-industry-co-ltd-3f59eaa1-da7f-4d9b-add0-c8efccfee0d5" target="_blank" data-smartkarma-citation="entities:50296:1" rel="noopener">Luxshare Precision Industry (2475 HK)</a> priced its H Share at HK$63.28, raising HK$24,266.2 million (US$3.1 billion) in gross proceeds. The H Share will be listed tomorrow.</li>
<li>I discussed the H Share listing in <strong><em><a href="https://www.smartkarma.com/insights/luxshare-h-share-listing-2475-hk-the-investment-case" target="_blank" data-smartkarma-citation="insights:245383" rel="noopener">Luxshare H Share Listing (2475 HK): The Investment Case</a></em></strong>. </li>
<li>The H Share listing price implies a 12.1% AH discount (based on the last close of the A Share price), which is unattractive.</li>
</ul>



Luxshare Precision Industry (2475 HK) priced its H Share at HK$63.28, raising HK$24,266.2 million (US$3.1 billion) in gross proceeds. The H Share will be listed tomorrow.
I discussed the H Share listing in Luxshare H Share Listing (2475 HK): The Investment Case. 
The H Share listing price implies a 12.1% AH discount (based on the last close of the A Share price), which is unattractive.


Luxshare H Share Listing (2475 HK): Valuation Insights

China

Luxshare Precision Industry Co., Ltd. provides intelligent manufacturing solutions. The Company offers integrated intelligent solutions, parts, modules and systems for enterprise communication products, consumer electronic products, and automobile systems. Luxshare Precision Industry conducts businesses worldwide.

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Luxshare Precision Industry (2475 HK)

CX Daily: China’s AI Battle Moves From Chatbots to Agents

TOP STORIES Cover Story: China’s AI Battle Moves From Chatbots to Agents Upload a set of spreadsheets to Tencent’s WorkBuddy and an agent can...

Caixin Global

HK A+H IPO 2026: Supply Congestion, Stalled Premium Compression [Update 2]

We update our HK A+H listing study with 13 deals since our April analysis, extending the study universe to 43 listings since 2025.

Ke Yan, CFA, FRM

Aequitas: Luxshare Precision Trading - Weak Demand, Discount Has Narrowed

Luxshare Precision Industry (2475 HK) (LP), a precision intelligent manufacturer, raised around US$3.5bn in its H-share listing. In this note, we...

Sumeet Singh

Luxshare Precision (立讯精密) IPO Trading

Luxshare Precision raised USD 3,089.9m in net proceeds and lists on HKEX on Thursday, July 9. We are cautious on debut performance given a tight A...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

CX Daily: China’s AI Battle Moves From Chatbots to Agents

TOP STORIES Cover Story: China’s AI Battle Moves From Chatbots to Agents Upload a set of spreadsheets to Tencent’s WorkBuddy and an agent can...

Caixin Global

HK A+H IPO 2026: Supply Congestion, Stalled Premium Compression [Update 2]

We update our HK A+H listing study with 13 deals since our April analysis, extending the study universe to 43 listings since 2025.

Ke Yan, CFA, FRM

Aequitas: Luxshare Precision Trading - Weak Demand, Discount Has Narrowed

Luxshare Precision Industry (2475 HK) (LP), a precision intelligent manufacturer, raised around US$3.5bn in its H-share listing. In this note, we...

Sumeet Singh

Luxshare Precision (立讯精密) IPO Trading

Luxshare Precision raised USD 3,089.9m in net proceeds and lists on HKEX on Thursday, July 9. We are cautious on debut performance given a tight A...

Ke Yan, CFA, FRM

Luxshare H Share Listing (2475 HK): Valuation Insights

Luxshare Precision priced its H Share at HK$63.28, raising US$3.1 billion in gross proceeds. In this note, I discuss valuation.

Arun George