Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Cross Asset Strategy

<ul>
<li>China is again finding favour among investors but investment in Chinese equities has to be nuanced and calibrated. Even high growth and policy beneficiary sectors have underperformed lately.</li>
<li>Avoiding the victims of involution, selecting market leaders who can protect their margins and companies with overseas manufacturing bases who can protect their foreign margins seem a viable strategy.</li>
<li>Latest consumption trends indicate strength in communication equipment, gold and silver jewelry, beverages and cosmetics. Precautionary buying of precious metals indicates that high dividend yield stocks could do well too.</li>
</ul>


China is again finding favour among investors but investment in Chinese equities has to be nuanced and calibrated. Even high growth and policy beneficiary sectors have underperformed lately.
Avoiding the victims of involution, selecting market leaders who can protect their margins and companies with overseas manufacturing bases who can protect their foreign margins seem a viable strategy.
Latest consumption trends indicate strength in communication equipment, gold and silver jewelry, beverages and cosmetics. Precautionary buying of precious metals indicates that high dividend yield stocks could do well too.


Asian Equities: Investing in China Necessitates a Careful and Calibrated Approach

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.

Thematic (Sector/Industry)

<ul>
<li>We tracked AI models, infrastructure, and M&amp;A; this week: OpenAI launched GPT-5.5, Anthropic took anchor commitments from Amazon and Google, and DeepSeek released V4 Preview.</li>
<li>Moonshot shipped Kimi K2.6, Alibaba split Qwen into a closed Max tier and open dense 27B, Tencent released Hy3 Preview, Xiaomi launched MiMo-V2.5.</li>
<li>SpaceX took a purchase option on Cursor, Tencent and Alibaba opened DeepSeek's first external round, and NDRC curbed US capital into Chinese AI.</li>
</ul>


We tracked AI models, infrastructure, and M&amp;A; this week: OpenAI launched GPT-5.5, Anthropic took anchor commitments from Amazon and Google, and DeepSeek released V4 Preview.
Moonshot shipped Kimi K2.6, Alibaba split Qwen into a closed Max tier and open dense 27B, Tencent released Hy3 Preview, Xiaomi launched MiMo-V2.5.
SpaceX took a purchase option on Cursor, Tencent and Alibaba opened DeepSeek's first external round, and NDRC curbed US capital into Chinese AI.


This Week in AI (Apr 19-25): GPT-5.5 Comes After Opus 4.7; Deepseek V4 After Long Wait

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

Linktel Technologies / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/linktel-technologies-co-ltd" target="_blank" data-smartkarma-citation="entities:55392:1" rel="noopener">Linktel Technologies (301205 CH)</a>, an optical transceiver provider, aims to raise around US$300m in its H-share listing.</li>
<li>Linktel is an optical transceiver provider with integrated capabilities spanning R&amp;D and vertically integrated manufacturing. </li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Linktel Technologies (301205 CH), an optical transceiver provider, aims to raise around US$300m in its H-share listing.
Linktel is an optical transceiver provider with integrated capabilities spanning R&amp;D and vertically integrated manufacturing. 
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Aequtias: Linktel Technologies A/H Listing -Growing Fast but Still a Small Player

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>On 2 April, South Korea's National Assembly Political Affairs Committee held a Bill Review Subcommittee meeting and passed the amendment to the Capital Markets Act for the cornerstone system introduction.</li>
<li>The main purpose of the cornerstone system is encourage institutional investors to pledge to hold the shares for at least six months after listing.</li>
<li>The Korean National Assembly is likely to finally pass the allowance of the cornerstone system for IPOs in Korea.</li>
</ul>


On 2 April, South Korea's National Assembly Political Affairs Committee held a Bill Review Subcommittee meeting and passed the amendment to the Capital Markets Act for the cornerstone system introduction.
The main purpose of the cornerstone system is encourage institutional investors to pledge to hold the shares for at least six months after listing.
The Korean National Assembly is likely to finally pass the allowance of the cornerstone system for IPOs in Korea.


South Korea's National Assembly Ready to Finally Approve the Cornerstone System for IPOs

INFRONEER Holdings  / Equity Capital Markets

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, last week's Hong kong listings were a mixed bag.</li>
<li>On the placement front, given the holiday shorterened week there were only a few placements across the region.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, last week's Hong kong listings were a mixed bag.
On the placement front, given the holiday shorterened week there were only a few placements across the region.


Aequitas ECM Weekly (5 October 2026)- Moore Threads, ASR, Adtek, ESWIN, Transsion, Infroneer, Woori

China

MiniMax Group is an artificial intelligence company that develops multimodal AI models and consumer applications. Its offerings include AI character apps like Talkie and Xingye, and video-generation services such as Hailuo AI. The company also creates proprietary foundation models capable of understanding, generating, and integrating various modalities including text, audio, images, video, and music. Headquartered in Shanghai, China, MiniMax was founded in December 2021.

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

MiniMax (100 HK)

Asian Equities: Investing in China Necessitates a Careful and Calibrated Approach

Investing in CN equity needs a nuanced approach, focusing on market leaders who can protect margins during "involution" & companies with foreign...

Manishi Raychaudhuri

This Week in AI (Apr 19-25): GPT-5.5 Comes After Opus 4.7; Deepseek V4 After Long Wait

This week in AI: GPT-5.5 tops Opus 4.7 on AAII v4.0; DeepSeek V4 cuts open-weight cost; SpaceX takes $60bn option on Cursor; Tencent and Alibaba...

Ke Yan, CFA, FRM

Aequtias: Linktel Technologies A/H Listing -Growing Fast but Still a Small Player

Linktel Technologies (301205 CH), an optical transceiver provider, aims to raise around US$300m in its H-share listing. In this note, we talk about...

Sumeet Singh

South Korea's National Assembly Ready to Finally Approve the Cornerstone System for IPOs

South Korea's National Assembly Political Affairs Committee held a Bill Review Subcommittee meeting and passed the amendment to the Capital Markets...

Douglas Kim

Aequitas ECM Weekly (5 October 2026)- Moore Threads, ASR, Adtek, ESWIN, Transsion, Infroneer, Woori

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Asian Equities: Investing in China Necessitates a Careful and Calibrated Approach

​Investing in CN equity needs a nuanced approach, focusing on market leaders who can protect margins during "involution" & companies with foreign...

Manishi Raychaudhuri

This Week in AI (Apr 19-25): GPT-5.5 Comes After Opus 4.7; Deepseek V4 After Long Wait

This week in AI: GPT-5.5 tops Opus 4.7 on AAII v4.0; DeepSeek V4 cuts open-weight cost; SpaceX takes $60bn option on Cursor; Tencent and Alibaba...

Ke Yan, CFA, FRM

Aequtias: Linktel Technologies A/H Listing -Growing Fast but Still a Small Player

Linktel Technologies (301205 CH), an optical transceiver provider, aims to raise around US$300m in its H-share listing. In this note, we talk about...

Sumeet Singh

South Korea's National Assembly Ready to Finally Approve the Cornerstone System for IPOs

South Korea's National Assembly Political Affairs Committee held a Bill Review Subcommittee meeting and passed the amendment to the Capital Markets...

Douglas Kim

Aequitas ECM Weekly (5 October 2026)- Moore Threads, ASR, Adtek, ESWIN, Transsion, Infroneer, Woori

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Investing in CN equity needs a nuanced approach, focusing on market leaders who can protect margins during "involution" & companies with foreign...