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

Contemporary Amperex Technology / Equity Capital Markets

Contemporary Amperex Technology (3750 HK)

<ul>
<li>With over 27 A/H listings since the start of 2025, we look back at some of the trends from the recent listings.</li>
<li>In this note, we will also talk about how the A/H premiums have moved since our last note in July 2025.</li>
<li>Overall, A/H listings since 2025 have reversed the trend of past A/H listings not doing much in the near term, with a few exceptions. </li>
</ul>


With over 27 A/H listings since the start of 2025, we look back at some of the trends from the recent listings.
In this note, we will also talk about how the A/H premiums have moved since our last note in July 2025.
Overall, A/H listings since 2025 have reversed the trend of past A/H listings not doing much in the near term, with a few exceptions. 


Aequitas: A/H Premiums and 27 Deals Performance-Better Returns, Some Premium & Coverage Correlation

Shenzhen Zhaowei Machinery & Electronics / Equity Capital Markets

Shenzhen Zhaowei Machinery & Electronics (2692 HK)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shenzhen-zhaowei-machinery-a" target="_blank" data-smartkarma-citation="entities:46000:1" rel="noopener">Shenzhen Zhaowei Machinery (2692 HK)</a> (003021 CH), raised around US$240m in its H-share listing.</li>
<li>(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>We have looked at the past performance and likely A/H premium in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>



Shenzhen Zhaowei Machinery (2692 HK) (003021 CH), raised around US$240m in its H-share listing.
(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.
We have looked at the past performance and likely A/H premium in our previous note. In this note, we talk about the trading dynamics.


Aequitas: Shenzhen Zhaowei A/H Trading - Decent Insti and Strong Retail Demand, No Greenshoe

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

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.

Quantitative Analysis

<ul>
<li>We analyse the changes of A-H premium on 176 stocks over the last week. The average A-H premium was 67.7% as of Mar 6th.</li>
<li>The average A-H premium changed by 1.0ppt week-on-week, led by materials, energy, financials and offset by communication services, utilities, health care.</li>
<li>We highlight weekly changes in A-H premium for Sinopec, COSCO Shipping Energy, China Coal Energy, CNOOC, China Oilfield Services, BYD.</li>
</ul>


We analyse the changes of A-H premium on 176 stocks over the last week. The average A-H premium was 67.7% as of Mar 6th.
The average A-H premium changed by 1.0ppt week-on-week, led by materials, energy, financials and offset by communication services, utilities, health care.
We highlight weekly changes in A-H premium for Sinopec, COSCO Shipping Energy, China Coal Energy, CNOOC, China Oilfield Services, BYD.


A-H Premium Weekly (Mar 6th): Sinopec, COSCO Shipping Energy, China Coal Energy, CNOOC

<ul>
<li>We analyse the changes of A-H premium on 176 stocks over the last week. The average A-H premium was 66.6% as of Feb 27th.</li>
<li>The average A-H premium changed by 3.4ppt week-on-week, led by health care, financials, consumer discretionary.</li>
<li>We highlight weekly changes in A-H premium for YOFC, Anhui Conch Cement, ZTE, Huaneng Power International.</li>
</ul>


We analyse the changes of A-H premium on 176 stocks over the last week. The average A-H premium was 66.6% as of Feb 27th.
The average A-H premium changed by 3.4ppt week-on-week, led by health care, financials, consumer discretionary.
We highlight weekly changes in A-H premium for YOFC, Anhui Conch Cement, ZTE, Huaneng Power International.


A-H Premium Weekly (Feb 27th): YOFC, Anhui Conch Cement, ZTE, Huaneng Power International

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Bottom-Up

<ul>
<li>We compile our selection of companies across Japan, China and India based on bottom-up triggers in each company.</li>
<li>In India its <a href="https://www.smartkarma.com/entities/ashok-leyland-ltd" target="_blank" data-smartkarma-citation="entities:20104:1" rel="noopener">Ashok Leyland (AL IN)</a>,<a href="https://www.smartkarma.com/entities/maruti-suzuki-india-ltd" target="_blank" data-smartkarma-citation="entities:733:1" rel="noopener">Maruti Suzuki India (MSIL IN)</a>&amp;<a href="https://www.smartkarma.com/entities/mahindra-mahindra-ltd" target="_blank" data-smartkarma-citation="entities:16441:1" rel="noopener">Mahindra &amp; Mahindra (MM IN)</a>.Japan its <a href="https://www.smartkarma.com/entities/mazda-motor-corp" target="_blank" data-smartkarma-citation="entities:20528:1" rel="noopener">Mazda Motor (7261 JP),</a><a href="https://www.smartkarma.com/entities/suzuki-motor-corp" target="_blank" data-smartkarma-citation="entities:732:1" rel="noopener">Suzuki Motor (7269 JP)</a>,<a href="https://www.smartkarma.com/entities/aisin-corp" target="_blank" data-smartkarma-citation="entities:11809:1" rel="noopener">Aisin (7259 JP)</a> &amp;<a href="https://www.smartkarma.com/entities/rohm-co-ltd" target="_blank" data-smartkarma-citation="entities:2953:1" rel="noopener">ROHM Co Ltd (6963 JP)</a>.</li>
<li>In China its <a href="https://www.smartkarma.com/entities/yadea-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:22706:1" rel="noopener">Yadea Group Holdings (1585 HK)</a> , <a href="https://www.smartkarma.com/entities/midea-group-co-ltd" target="_blank" data-smartkarma-citation="entities:43993:1" rel="noopener">Midea Group (300 HK)</a> , <a href="https://www.smartkarma.com/entities/haier-smart-home-co-ltd-b3ef445f-0f54-4586-8c58-9073de98d60e" target="_blank" data-smartkarma-citation="entities:31105:1" rel="noopener">Haier Smart Home (6690 HK)</a> and <a href="https://www.smartkarma.com/entities/gree-electric-appliances-inc-of-zhuhai" target="_blank" data-smartkarma-citation="entities:7622:1" rel="noopener">Gree Electric Appliances (000651 CH)</a>.</li>
</ul>


We compile our selection of companies across Japan, China and India based on bottom-up triggers in each company.
In India its Ashok Leyland (AL IN),Maruti Suzuki India (MSIL IN)&amp;Mahindra &amp; Mahindra (MM IN).Japan its Mazda Motor (7261 JP),Suzuki Motor (7269 JP),Aisin (7259 JP) &amp;ROHM Co Ltd (6963 JP).
In China its Yadea Group Holdings (1585 HK) , Midea Group (300 HK) , Haier Smart Home (6690 HK) and Gree Electric Appliances (000651 CH).


Shortlist Of High Conviction Ideas Across China, Japan, India - February 2026

China

Midea Group is a global technology group and one of the world's largest manufacturers of home appliances, offering a comprehensive range of products including air conditioners, refrigerators, washing machines, and kitchen appliances. The company also specializes in industrial technologies, intelligent building solutions, and robotics and automation. Midea Group was founded in 1968 and is headquartered in Foshan, Guangdong, China.

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Midea Group (300 HK)

Aequitas: A/H Premiums and 27 Deals Performance-Better Returns, Some Premium & Coverage Correlation

With over 27 A/H listings since the start of 2025, we look back at some of the trends from the recent listings including returns, premiums and...

Sumeet Singh

Aequitas: Shenzhen Zhaowei A/H Trading - Decent Insti and Strong Retail Demand, No Greenshoe

Shenzhen Zhaowei Machinery (2692 HK) (003021 CH), raised around US$240m in its H-share listing. In this note, we talk about the trading dyanmics.

Sumeet Singh

A-H Premium Weekly (Mar 6th): Sinopec, COSCO Shipping Energy, China Coal Energy, CNOOC

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Sinopec, COSCO Shipping Energy, China Coal Energy, CNOOC,...

Ke Yan, CFA, FRM

A-H Premium Weekly (Feb 27th): YOFC, Anhui Conch Cement, ZTE, Huaneng Power International

We analyzed A-H premium changes in the past week and highlight A-H premium changes for YOFC, Anhui Conch Cement, ZTE, Huaneng Power International.

Ke Yan, CFA, FRM

Shortlist Of High Conviction Ideas Across China, Japan, India - February 2026

Selection of companies in Japan, China, and India based on bottom-up triggers, including Ashok Leyland, Maruti Suzuki, M&M, Mazda, Rohm, Aisin,...

Sreemant Dudhoria

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Aequitas: A/H Premiums and 27 Deals Performance-Better Returns, Some Premium & Coverage Correlation

With over 27 A/H listings since the start of 2025, we look back at some of the trends from the recent listings including returns, premiums and...

Sumeet Singh

Aequitas: Shenzhen Zhaowei A/H Trading - Decent Insti and Strong Retail Demand, No Greenshoe

Shenzhen Zhaowei Machinery (2692 HK) (003021 CH), raised around US$240m in its H-share listing. In this note, we talk about the trading dyanmics.

Sumeet Singh

A-H Premium Weekly (Mar 6th): Sinopec, COSCO Shipping Energy, China Coal Energy, CNOOC

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Sinopec, COSCO Shipping Energy, China Coal Energy, CNOOC,...

Ke Yan, CFA, FRM

A-H Premium Weekly (Feb 27th): YOFC, Anhui Conch Cement, ZTE, Huaneng Power International

We analyzed A-H premium changes in the past week and highlight A-H premium changes for YOFC, Anhui Conch Cement, ZTE, Huaneng Power International.

Ke Yan, CFA, FRM

Shortlist Of High Conviction Ideas Across China, Japan, India - February 2026

​Selection of companies in Japan, China, and India based on bottom-up triggers, including Ashok Leyland, Maruti Suzuki, M&M, Mazda, Rohm, Aisin,...

Sreemant Dudhoria

Selection of companies in Japan, China, and India based on bottom-up triggers, including Ashok Leyland, Maruti Suzuki, M&M, Mazda, Rohm, Aisin,...