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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/guangdong-huayan-robotics-co-ltd" target="_blank" data-smartkarma-citation="entities:47616:1" rel="noopener">Guangdong Huayan Robotics</a> (GHR), a collaborative robotics company, raised around US$231m in its Hong Kong IPO.</li>
<li>GHR is a collaborative robotics (cobot) company engaged in the development, manufacturing and sale of cobots and core motion components for industrial automation applications.</li>
<li>We have covered various aspects of the deal in our previous notes. In this note, we will talk about the demand and trading dynamics.</li>
</ul>



Guangdong Huayan Robotics (GHR), a collaborative robotics company, raised around US$231m in its Hong Kong IPO.
GHR is a collaborative robotics (cobot) company engaged in the development, manufacturing and sale of cobots and core motion components for industrial automation applications.
We have covered various aspects of the deal in our previous notes. In this note, we will talk about the demand and trading dynamics.


Aequitas: Huayan Robotics Trading-Largest Customer Has Humanoid & Funding, Strongest Retail of Late

<ul>
<li>
<a href="https://www.smartkarma.com/entities/guangdong-huayan-robotics-co-ltd" target="_blank" data-smartkarma-citation="entities:47616:1" rel="noopener">Guangdong Huayan Robotics</a> (GHR), a collaborative robotics company, is looking to raise around US$175m in its Hong Kong IPO.</li>
<li>GHR is a collaborative robotics (cobot) company engaged in the development, manufacturing and sale of cobots and core motion components for industrial automation applications.</li>
<li>We have looked at the company's past performance in our previous note. In this note, we talk about valuations.</li>
</ul>



Guangdong Huayan Robotics (GHR), a collaborative robotics company, is looking to raise around US$175m in its Hong Kong IPO.
GHR is a collaborative robotics (cobot) company engaged in the development, manufacturing and sale of cobots and core motion components for industrial automation applications.
We have looked at the company's past performance in our previous note. In this note, we talk about valuations.


Aequitas: Guangdong Huayan Robotics IPO - Some Doubts but Relative Pricing Isn’t Expensive

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>There are 53 adds and 28 deletes for the Hang Seng Composite Index (HSCI) at the March rebalance to take the number of index constituents up to 532.</li>
<li>We expect 44 of the 53 HSCI inclusions to be Stock Connect adds from the open on 9 March. 25 of the 28 deletions could be removed from Stock Connect.</li>
<li>On average, stocks that are expected to be added to Southbound Stock Connect have massively outperformed stocks that are expected to be removed from Southbound Stock Connect.</li>
</ul>


There are 53 adds and 28 deletes for the Hang Seng Composite Index (HSCI) at the March rebalance to take the number of index constituents up to 532.
We expect 44 of the 53 HSCI inclusions to be Stock Connect adds from the open on 9 March. 25 of the 28 deletions could be removed from Stock Connect.
On average, stocks that are expected to be added to Southbound Stock Connect have massively outperformed stocks that are expected to be removed from Southbound Stock Connect.


HSCI Index Rebalance: 53 Adds, 28 Deletes, Changes to Southbound Stock Connect & BIG Outperformance

<ul>
<li>There could be 49 potential inclusions and 25 potential deletions for the Hang Seng Composite Index in March. There are more stocks that are close on market cap/liquidity.</li>
<li>A lot of the potential adds are very recently listed stocks that have a limited trading history. The low free float could lead to price spikes in the stocks.</li>
<li>There are stocks that have a very high percentage of holdings via Stock Connect and there could be some unwinding prior to the stocks becoming Sell-only.</li>
</ul>


There could be 49 potential inclusions and 25 potential deletions for the Hang Seng Composite Index in March. There are more stocks that are close on market cap/liquidity.
A lot of the potential adds are very recently listed stocks that have a limited trading history. The low free float could lead to price spikes in the stocks.
There are stocks that have a very high percentage of holdings via Stock Connect and there could be some unwinding prior to the stocks becoming Sell-only.


HSCI Index Rebalance Preview and Stock Connect (Mar 2026): Many Changes Following Huge IPO Quarter

SBI Shinsei Bank / 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, HK IPOs continue to be launched into the year end.</li>
<li>On the placements front, there are a number of lockup expiries coming up over the next few weeks.</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, HK IPOs continue to be launched into the year end.
On the placements front, there are a number of lockup expiries coming up over the next few weeks.


ECM Weekly (22 December 2025) - SBI Shinsei, ICICI AMC, Insilico, Forest Cabin Sanhua, IFBH, CaoCao

Hong Kong

OneRobotics (Shenzhen) Co., Ltd. develops robots. The Company manufactures humanoid intelligent robots, artificial intelligence tennis robots, and other products. OneRobotics (Shenzhen) also provides home robot systems.

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OneRobotics (Shenzhen) (6600 HK)

Aequitas: Huayan Robotics Trading-Largest Customer Has Humanoid & Funding, Strongest Retail of Late

Guangdong Huayan Robotics (GHR), a collaborative robotics company, raised around US$231m in its Hong Kong IPO. In this note, we talk about the...

Sumeet Singh

Aequitas: Guangdong Huayan Robotics IPO - Some Doubts but Relative Pricing Isn’t Expensive

Guangdong Huayan Robotics (GHR), a collaborative robotics company, is looking to raise around US$175m in its Hong Kong IPO. In this note, we talk...

Sumeet Singh

HSCI Index Rebalance: 53 Adds, 28 Deletes, Changes to Southbound Stock Connect & BIG Outperformance

There are 53 adds and 28 deletes for the HSCI in March. For Stock Connect, we expect 44 adds and 25 deletes. The forecast Connect adds have...

Brian Freitas

HSCI Index Rebalance Preview and Stock Connect (Mar 2026): Many Changes Following Huge IPO Quarter

There could be 74 changes for the HSCI in March. That could result in 64 changes to the Southbound Stock Connect list and also have implications...

Brian Freitas

ECM Weekly (22 December 2025) - SBI Shinsei, ICICI AMC, Insilico, Forest Cabin Sanhua, IFBH, CaoCao

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)