IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<ul>
<li>A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.</li>
<li>ECM developments: <a href="https://www.smartkarma.com/entities/tokyo-metro-co-ltd" target="_blank" data-smartkarma-citation="entities:40930:1" rel="noopener">Tokyo Metro (9023 JP)</a>, <a href="https://www.smartkarma.com/entities/k-bank-co-ltd" target="_blank" data-smartkarma-citation="entities:36073:1" rel="noopener">K Bank (279570 KS)</a> and <a href="https://www.smartkarma.com/entities/china-resources-beverage" target="_blank" data-smartkarma-citation="entities:41984:1" rel="noopener">China Resources Beverage (CRB HK)</a> IPOs.</li>
<li>Event-Driven developments: <a href="https://www.smartkarma.com/entities/capitol-health-ltd" target="_blank" data-smartkarma-citation="entities:14504:1" rel="noopener">Capitol Health (CAJ AU)</a>, <a href="https://www.smartkarma.com/entities/sun-art-retail-group-ltd" target="_blank" data-smartkarma-citation="entities:401:1" rel="noopener">Sun Art Retail (6808 HK)</a>, <a href="https://www.smartkarma.com/entities/xingda-international-holdings" target="_blank" data-smartkarma-citation="entities:17836:1" rel="noopener">Xingda International (1899 HK)</a>, <a href="https://www.smartkarma.com/entities/fuji-soft-inc" target="_blank" data-smartkarma-citation="entities:17504:1" rel="noopener">Fuji Soft Inc (9749 JP)</a>, <a href="https://www.smartkarma.com/entities/dyna-mac-holdings-ltd" target="_blank" data-smartkarma-citation="entities:16153:1" rel="noopener">Dyna Mac Holdings (DMHL SP)</a>. </li>
</ul>


A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments: Tokyo Metro (9023 JP), K Bank (279570 KS) and China Resources Beverage (CRB HK) IPOs.
Event-Driven developments: Capitol Health (CAJ AU), Sun Art Retail (6808 HK), Xingda International (1899 HK), Fuji Soft Inc (9749 JP), Dyna Mac Holdings (DMHL SP). 


Weekly Deals Digest (29 Sep) - Tokyo Metro, CR Beverage, K Bank, Fuji Soft, Sun Art, Xingda, Capitol

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Thematic (Sector/Industry)

<ul>
<li>Obvious policy efforts are being made to drive consumption and improve consumer confidence.</li>
<li>Previous attempts have resulted in increased savings but policy direction has changed</li>
<li>Beaten-Up consumer names have a good risk-reward at this stage</li>
</ul>


Obvious policy efforts are being made to drive consumption and improve consumer confidence.
Previous attempts have resulted in increased savings but policy direction has changed
Beaten-Up consumer names have a good risk-reward at this stage


China Crosses the Rubicon - Direct Payments to Kickstart Consumption

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

<ul>
<li>MNSO US: MINISO Acquires 29.4% Stake in Yonghui Superstores for RMB6.3 Billion, Becoming Its Largest Shareholder(-)</li>
<li>BEKE US:Stimulus monetary policies bodes well for real estate and consumption(+)</li>
<li>BEKE US:Chongqing Agency Decco Real Estate Joins Beike, Bodes Well for Market Share Gains(+)</li>
</ul>


MNSO US: MINISO Acquires 29.4% Stake in Yonghui Superstores for RMB6.3 Billion, Becoming Its Largest Shareholder(-)
BEKE US:Stimulus monetary policies bodes well for real estate and consumption(+)
BEKE US:Chongqing Agency Decco Real Estate Joins Beike, Bodes Well for Market Share Gains(+)


[Blue Lotus Daily]:MNSO US/BEKE US/LKNCY US/XPEV US / LI US/ NIO US/1211 HK/NIO US /1810 HK/

Equity Bottom-Up

<ul>
<li>Miniso (MNSO) reported C2Q24 revenue (3.2%)/1.9% vs. our estimate/consensus. Non-GAAP NI (5.6%)/(2.7%) vs. our estimate/consensus. </li>
<li>Recent weak economic data in both China and U.S.,along with MNSO's deceleration in overseas average store sales;</li>
<li>We cut TP from US$34 to US$24 and maintain BUY.</li>
</ul>


Miniso (MNSO) reported C2Q24 revenue (3.2%)/1.9% vs. our estimate/consensus. Non-GAAP NI (5.6%)/(2.7%) vs. our estimate/consensus. 
Recent weak economic data in both China and U.S.,along with MNSO's deceleration in overseas average store sales;
We cut TP from US$34 to US$24 and maintain BUY.


[Miniso Group (MNSO US, BUY, TP US$24) TP Change]: Management Might Have Been Overly Optimistic

Independent Sell Side Equity Research Analyst, ChartSmarter

Douglas Busch

Independent Sell Side Equity Research Analyst

ChartSmarter

ChartSmarter is a service dedicated to the art of technical analysis.

On a daily basis we write up actionable ideas on a specific, major S&P sector on both the long and short side, in an easy yet thorough way. In the notes we give precise entries and exits, while looking to capture the "meat" of a trend.

Technical Analysis.

Technical Analysis

<ul>
<li>Gold breaks above MONTHLY bull flag suggesting possible move to 3000.</li>
<li>Is China ready to duplicate prior move we witnessed in Nikkei?</li>
<li>BABA looks technically attractive and could reach par by year-end.</li>
</ul>


Gold breaks above MONTHLY bull flag suggesting possible move to 3000.
Is China ready to duplicate prior move we witnessed in Nikkei?
BABA looks technically attractive and could reach par by year-end.


China

MINISO Group Holding is a value retailer with a focus on offering products that are aesthetically pleasing, good-quality, and affordable.

Price Gauge
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Miniso (MNSO US)

Weekly Deals Digest (29 Sep) - Tokyo Metro, CR Beverage, K Bank, Fuji Soft, Sun Art, Xingda, Capitol

Last week, notable developments occurred in Event-Driven (Capitol Health, Sun Art Retail, Xingda, Fuji Soft, Dyna Mac) and ECM (Tokyo Metro, CR...

Arun George

China Crosses the Rubicon - Direct Payments to Kickstart Consumption

Policy efforts are shifting towards driving consumption and boosting consumer confidence, presenting a favourable risk-reward opportunity for...

Rikki Malik

[Blue Lotus Daily]:MNSO US/BEKE US/LKNCY US/XPEV US / LI US/ NIO US/1211 HK/NIO US /1810 HK/

MINISO acquires majority stake in Yonghui Superstores, Beike benefits from stimulus policies and market share gains with Decco Real Estate...

Blue Lotus Research Institute

[Miniso Group (MNSO US, BUY, TP US$24) TP Change]: Management Might Have Been Overly Optimistic

Miniso reports lower than expected revenue and non-GAAP net income, attributed to weak economic data in China and the U.S. Overseas store sales...

Blue Lotus Research Institute

Time To Buy China/Gold

Gold breaks above bull flag, China may follow Nikkei's move, BABA could hit par by year-end. Region and the precious metal could power higher into...

Douglas Busch

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Weekly Deals Digest (29 Sep) - Tokyo Metro, CR Beverage, K Bank, Fuji Soft, Sun Art, Xingda, Capitol

Last week, notable developments occurred in Event-Driven (Capitol Health, Sun Art Retail, Xingda, Fuji Soft, Dyna Mac) and ECM (Tokyo Metro, CR...

Arun George

China Crosses the Rubicon - Direct Payments to Kickstart Consumption

​Policy efforts are shifting towards driving consumption and boosting consumer confidence, presenting a favourable risk-reward opportunity for...

Rikki Malik

[Blue Lotus Daily]:MNSO US/BEKE US/LKNCY US/XPEV US / LI US/ NIO US/1211 HK/NIO US /1810 HK/

​MINISO acquires majority stake in Yonghui Superstores, Beike benefits from stimulus policies and market share gains with Decco Real Estate...

Blue Lotus Research Institute

[Miniso Group (MNSO US, BUY, TP US$24) TP Change]: Management Might Have Been Overly Optimistic

​Miniso reports lower than expected revenue and non-GAAP net income, attributed to weak economic data in China and the U.S. Overseas store sales...

Blue Lotus Research Institute

Time To Buy China/Gold

​Gold breaks above bull flag, China may follow Nikkei's move, BABA could hit par by year-end. Region and the precious metal could power higher into...

Douglas Busch

Policy efforts are shifting towards driving consumption and boosting consumer confidence, presenting a favourable risk-reward opportunity for...

MINISO acquires majority stake in Yonghui Superstores, Beike benefits from stimulus policies and market share gains with Decco Real Estate...

Miniso reports lower than expected revenue and non-GAAP net income, attributed to weak economic data in China and the U.S. Overseas store sales...

Gold breaks above bull flag, China may follow Nikkei's move, BABA could hit par by year-end. Region and the precious metal could power higher into...