Aequitas Research

Hong Jie Seow

Independent Insight Provider

IPOs and Placements coverage across Asia Pacific

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

Mininglamp Technology / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mininglamp-technology" target="_blank" data-smartkarma-citation="entities:45939:1" rel="noopener">Mininglamp Technology (1912140D HK)</a> raised around US$131m in its Hong Kong IPO.</li>
<li>Mininglamp Technology (formerly known as Leading Smart Holdings), is a data intelligence software provider in China, specializing in transforming enterprises’ marketing and operational decision-making.</li>
<li>We have looked at the company’s background and pricing in our earlier note, in this note we talk about the trading dynamics.</li>
</ul>



Mininglamp Technology (1912140D HK) raised around US$131m in its Hong Kong IPO.
Mininglamp Technology (formerly known as Leading Smart Holdings), is a data intelligence software provider in China, specializing in transforming enterprises’ marketing and operational decision-making.
We have looked at the company’s background and pricing in our earlier note, in this note we talk about the trading dynamics.


Mininglamp Technology IPO Trading: Strong Retail Demand, Decent Insti Demand

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mininglamp-technology" target="_blank" data-smartkarma-citation="entities:45939:1" rel="noopener">Mininglamp Technology (1912140D HK)</a> is looking to raise US$131m in its Hong Kong IPO.</li>
<li>Mininglamp Technology (formerly known as Leading Smart Holdings), is a data intelligence software provider in China, specializing in transforming enterprises’ marketing and operational decision-making through large model driven analytics.</li>
<li>In this note, we will talk about the company’s past performances and valuations.</li>
</ul>



Mininglamp Technology (1912140D HK) is looking to raise US$131m in its Hong Kong IPO.
Mininglamp Technology (formerly known as Leading Smart Holdings), is a data intelligence software provider in China, specializing in transforming enterprises’ marketing and operational decision-making through large model driven analytics.
In this note, we will talk about the company’s past performances and valuations.


Mininglamp Technology IPO: Inflection into Profitability but Priced at a Steep Premium

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<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, the deal flow continues unabated, although a lot of listing in Hong Kong didn't do to well last week.</li>
<li>On the placements front, there were a number of deals, with a few right at lockup expiry.</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, the deal flow continues unabated, although a lot of listing in Hong Kong didn't do to well last week.
On the placements front, there were a number of deals, with a few right at lockup expiry.


ECM Weekly (10 November 2025) - Seres, Pony, WeRide, Joyson, DIY, Maynilad, Northsand, Softcare

Samsung Electronics / 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, there were a flurry of deal launches across Hong Kong and India.</li>
<li>On the placements front, while the week was rather quiet, we did have a look at the upcoming lockup release.</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, there were a flurry of deal launches across Hong Kong and India.
On the placements front, while the week was rather quiet, we did have a look at the upcoming lockup release.


ECM Weekly (3 November 2025)-Sany, Seres, CIG, PonyAI, WeRide, Mininglamp, Lenskart, Groww, Softcare

China

Mininglamp Technology (formerly known as Leading Smart Holdings), is a data intelligence software provider in China, specializing in transforming enterprises’ marketing and operational decision-making through large model driven analytics and multimodal data integration.

Price Gauge
52-week Range	0.00 - 0.00
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Mininglamp Technology (1912140D HK)

Mininglamp Technology IPO Trading: Strong Retail Demand, Decent Insti Demand

Mininglamp Technology raised US$131m in its Hong Kong IPO, specializing in data intelligence software for enterprises in China. This note...

Hong Jie Seow

Mininglamp Technology IPO: Inflection into Profitability but Priced at a Steep Premium

Mininglamp Technology is seeking to raise $131m in its Hong Kong IPO, offering data intelligence software for enterprises in China. This note...

Hong Jie Seow

ECM Weekly (10 November 2025) - Seres, Pony, WeRide, Joyson, DIY, Maynilad, Northsand, Softcare

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

ECM Weekly (3 November 2025)-Sany, Seres, CIG, PonyAI, WeRide, Mininglamp, Lenskart, Groww, Softcare

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)

Mininglamp Technology IPO Trading: Strong Retail Demand, Decent Insti Demand

​Mininglamp Technology raised US$131m in its Hong Kong IPO, specializing in data intelligence software for enterprises in China. This note...

Hong Jie Seow

Mininglamp Technology IPO: Inflection into Profitability but Priced at a Steep Premium

​Mininglamp Technology is seeking to raise $131m in its Hong Kong IPO, offering data intelligence software for enterprises in China. This note...

Hong Jie Seow

ECM Weekly (10 November 2025) - Seres, Pony, WeRide, Joyson, DIY, Maynilad, Northsand, Softcare

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

ECM Weekly (3 November 2025)-Sany, Seres, CIG, PonyAI, WeRide, Mininglamp, Lenskart, Groww, Softcare

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

Mininglamp Technology raised US$131m in its Hong Kong IPO, specializing in data intelligence software for enterprises in China. This note...

Mininglamp Technology is seeking to raise $131m in its Hong Kong IPO, offering data intelligence software for enterprises in China. This note...