Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>Mobvoi, an emerging AIGC market player in China, set terms for an IPO and plans to raise ~HK$330M (~$42M) in Hong Kong. CICC and CMB International are leading the offering.</li>
<li>The initial public offering is expected to be between HK$3.70 and HK$4.10. At the midpoint of the range, Mobvoi has a market value of ~HK$5.8B based on 1491.5M outstanding shares.</li>
<li>In my insight, I discuss valuation framework for comparable company analysis and outline revenue growth scenarios for each business segment under my base case.</li>
</ul>


Mobvoi, an emerging AIGC market player in China, set terms for an IPO and plans to raise ~HK$330M (~$42M) in Hong Kong. CICC and CMB International are leading the offering.
The initial public offering is expected to be between HK$3.70 and HK$4.10. At the midpoint of the range, Mobvoi has a market value of ~HK$5.8B based on 1491.5M outstanding shares.
In my insight, I discuss valuation framework for comparable company analysis and outline revenue growth scenarios for each business segment under my base case.


Upcoming Mobvoi’s Debut: Downsized IPO Despite Hyper-Growth In AIGC Business Segment

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC 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.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mobvoi-information-technology-co" target="_blank" data-smartkarma-citation="entities:36799:1" rel="noopener">Mobvoi (2185047D CH)</a> is looking to raise about US$200m in its upcoming Hong Kong IPO. </li>
<li>Mobvoi is an AI company focusing on generative AI and voice interaction technologies. As per CIC, the firm is the largest revenue-generating AI company focusing on AI-generated content in 2022.</li>
<li>Mobvoi’s revenue growth was primarily driven by its AI enterprise solutions segment, which led to gross margin expansion and profitability turning positive on all fronts in FY22. </li>
</ul>



Mobvoi (2185047D CH) is looking to raise about US$200m in its upcoming Hong Kong IPO. 
Mobvoi is an AI company focusing on generative AI and voice interaction technologies. As per CIC, the firm is the largest revenue-generating AI company focusing on AI-generated content in 2022.
Mobvoi’s revenue growth was primarily driven by its AI enterprise solutions segment, which led to gross margin expansion and profitability turning positive on all fronts in FY22. 


Mobvoi Pre-IPO - Has Turned Profitable but Bulk of Growth Came from a Single Customer

Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

<ul>
<li>Mobvoi is a leading AI company with generative AI and voice interaction technologies at the core of its business. The company has filed for an IPO on the HKEx.</li>
<li>Unlike a lot of the AI start-ups, Mobvoi has already begun commercialising its products and services and the company has started generating operating profits in 2022.</li>
<li>The advent of ChatGPT and Midjourney have created a hype for AI. Mobvoi has taken the right decision to go public at the right time.</li>
</ul>


Mobvoi is a leading AI company with generative AI and voice interaction technologies at the core of its business. The company has filed for an IPO on the HKEx.
Unlike a lot of the AI start-ups, Mobvoi has already begun commercialising its products and services and the company has started generating operating profits in 2022.
The advent of ChatGPT and Midjourney have created a hype for AI. Mobvoi has taken the right decision to go public at the right time.


Mobvoi IPO: Right Decision at the Right Time

<ul>
<li>Mobvoi, the innovative Chinese AI company backed by Google, Volkswagen Group, and top-tier VC firms, filed for a Hong Kong IPO. The company plans to raise between $200M and $300M. </li>
<li>Mobvoi is a rapidly growing AI unicorn. Revenue from AI software solutions skyrocketed 400%+ y/y in 2022. The company will launch AI painting assistant and AI writing assistant 2.0. soon.</li>
<li>China-Based startup chose CICC and CMB international to tap capital markets to develop universal LLM, market expansion, strategic alliances, acquisitions, and working capital. </li>
</ul>


Mobvoi, the innovative Chinese AI company backed by Google, Volkswagen Group, and top-tier VC firms, filed for a Hong Kong IPO. The company plans to raise between $200M and $300M. 
Mobvoi is a rapidly growing AI unicorn. Revenue from AI software solutions skyrocketed 400%+ y/y in 2022. The company will launch AI painting assistant and AI writing assistant 2.0. soon.
China-Based startup chose CICC and CMB international to tap capital markets to develop universal LLM, market expansion, strategic alliances, acquisitions, and working capital. 


Mobvoi IPO: Rapidly Growing AI Unicorn And Creator of Universal LLM “Xuliehouzi.”

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

<ul>
<li>Mobvoi is getting ready to complete its IPO in Hong Kong in the coming weeks. Mobvoi is aiming to raise US$200 million to US$300 million in this IPO.</li>
<li>Given the exceptional interest in AI  related companies such as ChatGPT and NVIDIA, the current environment should be an opportune time for Mobvoi to complete its IPO. </li>
<li>Furthermore, Mobvoi has achieved a strong growth in sales and operating profits in 2022 which is also likely to drive higher interest in this IPO.</li>
</ul>


Mobvoi is getting ready to complete its IPO in Hong Kong in the coming weeks. Mobvoi is aiming to raise US$200 million to US$300 million in this IPO.
Given the exceptional interest in AI  related companies such as ChatGPT and NVIDIA, the current environment should be an opportune time for Mobvoi to complete its IPO. 
Furthermore, Mobvoi has achieved a strong growth in sales and operating profits in 2022 which is also likely to drive higher interest in this IPO.


China

Mobvoi, Inc. develops and markets a mobile speech recognition service application Chumenwenwen. The Company offers voice searching functions for local lifestyle services that are available in its account and covers the fields of catering, group buying, navigation, weather, tourism, and urban transportation. Mobvoi provides its services throughout Japan.

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

Mobvoi (2438 HK)

Upcoming Mobvoi’s Debut: Downsized IPO Despite Hyper-Growth In AIGC Business Segment

Mobvoi is expected to price its IPO next week and I have a positive long-term view on the high-growth name in AIGC business segment

Andrei Zakharov

Mobvoi Pre-IPO - Has Turned Profitable but Bulk of Growth Came from a Single Customer

Mobvoi (2185047D CH) is looking to raise about US$200m in its upcoming Hong Kong IPO. Mobvoi’s revenue growth was primarily driven by its AI...

Ethan Aw

Mobvoi IPO: Right Decision at the Right Time

Mobvoi's decision to go public is at the right time as the invent of ChatGPT has created a hype in the market. Unlike many AI startups, Mobvoi is...

Shifara Samsudeen, ACMA, CGMA

Mobvoi IPO: Rapidly Growing AI Unicorn And Creator of Universal LLM “Xuliehouzi.”

TicWatch maker and provider of generative AI and interactive voice technologies, Mobvoi, filed for a Hong Kong IPO. The AI company plans to raise...

Andrei Zakharov

Mobvoi IPO Preview

Given the exceptional interest in AI related companies such as ChatGPT and NVIDIA, the current environment should be an opportune time for Mobvoi...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)