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.

Equity Capital Markets

MicroTech Medical Hangzhou / Equity Capital Markets

MicroTech Medical is a China-based diabetes management medical device company. The company launched book building to raise up to USD 226m via a Hong Kong listing.In our previous note, we discussed that the company's core product insulin patch pump system (Equil) has received NMPA approval in 2018 and EU's CE marking in 2017. It has design features that are more appealing than both the tubed players as well as the patch pump competitors. Having said that, we note that the insulin pump market is competitive and the company's sales data after product launch is far from being ideal. The company's pre-IPO investor is decent. The management team has relevant product development experience but is not considered a superstar team. We also provide a forecast for the company's main products and our thoughts on the pre-money valuation.In this note, we also provided an update for the book building. We will run the deal through our ECM framework and provide an update on the deal.

MicroTech Medical is a China-based diabetes management medical device company. The company launched book building to raise up to USD 226m via a Hong Kong listing.In our previous note, we discussed that the company's core product insulin patch pump system (Equil) has received NMPA approval in 2018 and EU's CE marking in 2017. It has design features that are more appealing than both the tubed players as well as the patch pump competitors. Having said that, we note that the insulin pump market is competitive and the company's sales data after product launch is far from being ideal. The company's pre-IPO investor is decent. The management team has relevant product development experience but is not considered a superstar team. We also provide a forecast for the company's main products and our thoughts on the pre-money valuation.In this note, we also provided an update for the book building. We will run the deal through our ECM framework and provide an update on the deal.

MicroTech (微泰医疗) IPO: Demanding Valuation Despite a Decent Story

MicroTech Medical, a China-based diabetes management medical device company, plans to raise up to USD 300m via a Hong Kong listing.In our previous note, we discussed that the company's core product insulin patch pump system (Equil) has received NMPA approval in 2018 and EU's CE marking in 2017. It has design features that are more appealing than both the tubed players as well as the patch pump competitors. Having said that, we note that the insulin pump market is competitive and the company's sales data after product launch is far from being ideal. The company's pre-IPO investor is decent. The management team has relevant product development experience but is not considered a superstar team.In this note, we provide a forecast for the company's main products and our thoughts on the pre-money valuation.

MicroTech Medical, a China-based diabetes management medical device company, plans to raise up to USD 300m via a Hong Kong listing.In our previous note, we discussed that the company's core product insulin patch pump system (Equil) has received NMPA approval in 2018 and EU's CE marking in 2017. It has design features that are more appealing than both the tubed players as well as the patch pump competitors. Having said that, we note that the insulin pump market is competitive and the company's sales data after product launch is far from being ideal. The company's pre-IPO investor is decent. The management team has relevant product development experience but is not considered a superstar team.In this note, we provide a forecast for the company's main products and our thoughts on the pre-money valuation.

MicroTech (微泰医疗) Pre-IPO: Thoughts on Valuation

MicroTech Medical, a China-based diabetes management medical device company, plans to raise up to USD 300m via a Hong Kong listing.The company's core product insulin patch pump system (Equil) has received NMPA approval in 2018 and EU's CE marking in 2017. It has design features that are more appealing than both the tubed players as well as the patch pump competitors. Having said that, we note that the insulin pump market is competitive and the company's sales data after product launch is far from being ideal. The company's pre-IPO investor is decent. The management team has relevant product development experience but is not considered a superstar team.

MicroTech Medical, a China-based diabetes management medical device company, plans to raise up to USD 300m via a Hong Kong listing.The company's core product insulin patch pump system (Equil) has received NMPA approval in 2018 and EU's CE marking in 2017. It has design features that are more appealing than both the tubed players as well as the patch pump competitors. Having said that, we note that the insulin pump market is competitive and the company's sales data after product launch is far from being ideal. The company's pre-IPO investor is decent. The management team has relevant product development experience but is not considered a superstar team.

MicroTech (微泰医疗) Pre-IPO: A Story of Domestic Product Replacing International Competitors

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

The number of diabetes cases in the world has been increasing every year, and it has been listed as the third most common disease in developed countries after cardiovascular disease and tumor. In recent years, due to the huge market potential, more and more listed companies are focusing on diabetes. For example, on May 14th, 2021, <a href="https://www.smartkarma.com/entities/microtech-medical-hangzhou-co-ltd" target="_blank" data-smartkarma-citation="entities:33367:1" rel="noopener">MicroTech Medical Hangzhou (MTM HK) </a>submitted its prospectus to HKEX and officially started the IPO process. In addition to listing on the HKEX, MicroTech also has plans to list on A-shares. So how about this Company? This insight mainly analyze the main products, the business and challenges.

The number of diabetes cases in the world has been increasing every year, and it has been listed as the third most common disease in developed countries after cardiovascular disease and tumor. In recent years, due to the huge market potential, more and more listed companies are focusing on diabetes. For example, on May 14th, 2021, MicroTech Medical Hangzhou (MTM HK) submitted its prospectus to HKEX and officially started the IPO process. In addition to listing on the HKEX, MicroTech also has plans to list on A-shares. So how about this Company? This insight mainly analyze the main products, the business and challenges.

Pre-IPO MicroTech Medical (Hangzhou) - The Main Products, the Business and the Challenges

China

MicroTech Medical Hangzhou Co Ltd manufactures and distributes medical equipment. The Company produces intelligent insulin pumps, blood glucose monitoring systems, blood glucose meters, protein analysis systems and other equipment. Microtech Medical(hangzhou) also operates import and export businesses.

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

MicroTech Medical Hangzhou (2235 HK)

MicroTech (微泰医疗) IPO: Demanding Valuation Despite a Decent Story

We provided an update for the book building of MicroTech Medical which sells diabetes management products including patch insulin pump (Equil) and...

Ke Yan, CFA, FRM

MicroTech (微泰医疗) Pre-IPO: Thoughts on Valuation

In this note, we provide a financial forecast for the MicroTech's main products (Equil, BGMS, CGMS) and our thoughts on the pre-money valuation.

Ke Yan, CFA, FRM

MicroTech (微泰医疗) Pre-IPO: A Story of Domestic Product Replacing International Competitors

We look at the prospect of MicroTech Medical, an emerging diabetes treatment and management medical device player in China, which is looking to...

Ke Yan, CFA, FRM

Pre-IPO MicroTech Medical (Hangzhou) - The Main Products, the Business and the Challenges

This article mainly analyzed the main products (Equil, AiDEX G7, AiDEX X), the business, the related challenges, the financial position and the...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)