APAC IPOs & Placements, Aequitas Research

Clarence Chu

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zjld-group" target="_blank" data-smartkarma-citation="entities:36734:1" rel="noopener">ZJLD Group (ZJLD HK)</a> is looking to raise up to US$400m in its upcoming Hong Kong IPO</li>
<li>ZJLD is a Chinese liquor company primarily producing baijiu. As per F&amp;S, the firm was the fourth largest privately-owned baijiu company in terms of FY21 sales.</li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>



ZJLD Group (ZJLD HK) is looking to raise up to US$400m in its upcoming Hong Kong IPO
ZJLD is a Chinese liquor company primarily producing baijiu. As per F&amp;S, the firm was the fourth largest privately-owned baijiu company in terms of FY21 sales.
In this note, we will talk about the positive aspects of the deal.


ZJLD Group Pre-IPO - The Positives - Larger Network Led to Sales Growth. Poised for Market Tailwind

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 Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outlfows, and holding by mainland investors.</li>
<li>We highlight flows of China Mobile, BYD, Simcere, ICBC, CNOOC, Meituan, Geely, CCB, Country Garden Services, Anta. </li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outlfows, and holding by mainland investors.
We highlight flows of China Mobile, BYD, Simcere, ICBC, CNOOC, Meituan, Geely, CCB, Country Garden Services, Anta. 


Hong Kong Connect Flows Monthly: Health Care Led Inflows in Jan

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of January 20th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for China Mobile, Tencent, Meituan, China Construction Bank, Hong Kong Exchanges And Clearing.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of January 20th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for China Mobile, Tencent, Meituan, China Construction Bank, Hong Kong Exchanges And Clearing.


Hong Kong Connect Flows (Jan 20th): China Mobile, Tencent, Meituan, CCB, HKEX

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Shandong BoAn Biotechnology  / Equity Capital Markets

<ul>
<li>Without the advantages in product efficacy, production capacity, clinical progress and speed of approval, Boan's products have lost their pricing power in both China and overseas markets.</li>
<li>Due to the lack of differentiation and frontier enough target layout, the product commercialization potential is bound to be more easily questioned, with limited value in the long term.</li>
<li>Even if Boan could go public successfully, investors may not be able to achieve the expected returns because of the unfriendly market sentiment and a lack of liquidity in HKEX. </li>
</ul>


Without the advantages in product efficacy, production capacity, clinical progress and speed of approval, Boan's products have lost their pricing power in both China and overseas markets.
Due to the lack of differentiation and frontier enough target layout, the product commercialization potential is bound to be more easily questioned, with limited value in the long term.
Even if Boan could go public successfully, investors may not be able to achieve the expected returns because of the unfriendly market sentiment and a lack of liquidity in HKEX. 


Pre-IPO Shandong Boan Biotechnology - Conservative About the Outlook

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Shanghai Pharmaceuticals Holding / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shanghai-pharmaceuticals-holding" target="_blank" data-smartkarma-citation="entities:228:1" rel="noopener">Shanghai Pharmaceuticals Holding (2607 HK)</a> reported strong result for the first nine months of 2022, with revenue increasing 8.5% to RMB174.6B. Notably, total revenue growth accelerated to 13% in 3Q22.</li>
<li>With a leading market positioning and nation-wide distribution network, the company is well-positioned to benefit from the sector tailwinds. Easing of restrictions will provide a major impetus to the company.</li>
<li>The company has been improving its innovative drug pipeline. It has 42 innovative products in its pipeline, six of which are in pivotal studies.</li>
</ul>



Shanghai Pharmaceuticals Holding (2607 HK) reported strong result for the first nine months of 2022, with revenue increasing 8.5% to RMB174.6B. Notably, total revenue growth accelerated to 13% in 3Q22.
With a leading market positioning and nation-wide distribution network, the company is well-positioned to benefit from the sector tailwinds. Easing of restrictions will provide a major impetus to the company.
The company has been improving its innovative drug pipeline. It has 42 innovative products in its pipeline, six of which are in pivotal studies.


Shanghai Pharmaceuticals (2607 HK): Stable Core Business; New Drug Approvals to Accelerate Growth

China

Luye Pharma Group Ltd focuses on the research and development, production, and sales of pharmaceutical drugs for orthopedics, neurology, gastroenterology, and hepatology. The Company also sells active ingredients, R&D results, and patents of new drugs, as well as providing research services on a contractual basis.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Luye Pharma (2186 HK)

ZJLD Group Pre-IPO - The Positives - Larger Network Led to Sales Growth. Poised for Market Tailwind

ZJLD Group (ZJLD HK) is looking to raise up to US$400m in its upcoming Hong Kong IPO. In this note, we will talk about the positive aspects of the...

Clarence Chu

Hong Kong Connect Flows Monthly: Health Care Led Inflows in Jan

We analyzed the Hong Kong Connect Scheme for January and highlight flows for China Mobile, BYD, Simcere, ICBC, CNOOC, Meituan, Geely, CCB, Country...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Jan 20th): China Mobile, Tencent, Meituan, CCB, HKEX

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for China Mobile, Tencent, Meituan, China Construction Bank,...

Ke Yan, CFA, FRM

Pre-IPO Shandong Boan Biotechnology - Conservative About the Outlook

Due to lack of differentiated/frontier enough target layout and slow progress, Boan's product commercialization potential is highly uncertain....

Xinyao (Criss) Wang

Shanghai Pharmaceuticals (2607 HK): Stable Core Business; New Drug Approvals to Accelerate Growth

SPH reported accelerated double-digit revenue growth in Q3. Sector tailwinds, easing of COVID restrictions, and rich pipeline of innovative drugs...

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)