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/kayou" target="_blank" data-smartkarma-citation="entities:40875:1" rel="noopener">Kayou</a> is looking to raise up to US$500m in its upcoming HK IPO.</li>
<li>Kayou is a Chinese pan-entertainment product retailer of toys, with trading cards in particular as its core product.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Kayou is looking to raise up to US$500m in its upcoming HK IPO.
Kayou is a Chinese pan-entertainment product retailer of toys, with trading cards in particular as its core product.
In this note, we talk about the positive aspects of the deal.


Kayou Pre-IPO - The Positives - Strong FY22 Growth

Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/playmates-toys-ltd" target="_blank" data-smartkarma-citation="entities:2946:1" rel="noopener">Playmates Toys (869 HK)</a> reported strong 1H23 results on the back of initial demand for TMNT toys. Revenues were up 30% and operating profits increased 3x.</li>
<li>Management remains optimistic for 2H23 on the back of continued excitement for TMNT movie and follow-up series on Paramount+.</li>
<li>Playmates Toys trades at 5x FY23 P/E and &gt;1x P/E on an ex-cash basis. The company also declared another 2c interim dividend.</li>
</ul>



Playmates Toys (869 HK) reported strong 1H23 results on the back of initial demand for TMNT toys. Revenues were up 30% and operating profits increased 3x.
Management remains optimistic for 2H23 on the back of continued excitement for TMNT movie and follow-up series on Paramount+.
Playmates Toys trades at 5x FY23 P/E and &gt;1x P/E on an ex-cash basis. The company also declared another 2c interim dividend.


Playmates Toys: 1H23 Results Show Strong TMNT Potential

<ul>
<li>Teenage Mutant Ninja Turtles: Mutant Mayhem had a smash opening grossing over 50M USD at the box office in its first week of operation.</li>
<li>The box office success de-risks the upside potential for Playmates Toys as successful movies have a high likelihood of driving toy sales.</li>
<li>Paramount+ launching the new TMNT-inspired series will also drive Ninja Turtles' revival even more.</li>
</ul>


Teenage Mutant Ninja Turtles: Mutant Mayhem had a smash opening grossing over 50M USD at the box office in its first week of operation.
The box office success de-risks the upside potential for Playmates Toys as successful movies have a high likelihood of driving toy sales.
Paramount+ launching the new TMNT-inspired series will also drive Ninja Turtles' revival even more.


Playmates Toys: TMNT Movie Grosses 50M+ Global Sales in Opening Week, Toy Sales to Follow

<ul>
<li>Three weeks ahead of the global launch of TMNT Mutant Mayhem momentum is building</li>
<li>Google Trends searches reveal rising interest in both movies and toys</li>
<li>Risk/Reward is still highly attractive, last time a TMNT movie was a success stock hit 4 HKD</li>
</ul>


Three weeks ahead of the global launch of TMNT Mutant Mayhem momentum is building
Google Trends searches reveal rising interest in both movies and toys
Risk/Reward is still highly attractive, last time a TMNT movie was a success stock hit 4 HKD


Playmates Toys: Movie and Toy Reviews TMNT Mutant Mayhem Suggest Big Upside Ahead

<ul>
<li>1983 was the year both TMNT and Mario Bros were created by two different animation studios</li>
<li>Mario Bros latest movie has now grossed $1.3 billion in box office receipts YTD, entering the all-time top-3 of animated movies </li>
<li>TNMT will see its debut in US theatres on the 2nd of August 2023. Will the turtles get the same reception as Mario Bros?</li>
</ul>


1983 was the year both TMNT and Mario Bros were created by two different animation studios
Mario Bros latest movie has now grossed $1.3 billion in box office receipts YTD, entering the all-time top-3 of animated movies 
TNMT will see its debut in US theatres on the 2nd of August 2023. Will the turtles get the same reception as Mario Bros?


Playmates Toys: Mario Bros Movie Surpasses $1.3 Billion in Box Office; TMNT Next?

Hong Kong

Playmates Toys is a Hong Kong-based company that designs, develops, markets, and distributes a wide range of toys and family entertainment products globally. The company is known for its action figures and dolls, including popular brands like Teenage Mutant Ninja Turtles, Godzilla, and Miraculous Ladybug. Founded in Hong Kong in 1966, Playmates Toys Limited maintains its headquarters there.

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Playmates Toys (869 HK)

Kayou Pre-IPO - The Positives - Strong FY22 Growth

Kayou is looking to raise up to US$500m in its upcoming HK IPO. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

Playmates Toys: 1H23 Results Show Strong TMNT Potential

1H23 showed strong sales and sharply higher profits on the back of initial TMNT toy shipments. With a new TMNT movie likely and TMNT series coming...

Nicolas Van Broekhoven

Playmates Toys: TMNT Movie Grosses 50M+ Global Sales in Opening Week, Toy Sales to Follow

TMNT Mutant Mayhem had a great box office start grossing over 50M USD. The success of the movie de-risks the story for Playmates Toys as successful...

Nicolas Van Broekhoven

Playmates Toys: Movie and Toy Reviews TMNT Mutant Mayhem Suggest Big Upside Ahead

TMNT Mutant Mayhem momentum is on the rise with more positive chatter about the movie and the toys made by Playmates Toys. The last time there was...

Nicolas Van Broekhoven

Playmates Toys: Mario Bros Movie Surpasses $1.3 Billion in Box Office; TMNT Next?

Mario Bros latest movie has entered top-3 animated box office hits of all time. Will TMNT join the hype? Yesterday the movie was shown and received...

Nicolas Van Broekhoven

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