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/onewo-space-tech" target="_blank" data-smartkarma-citation="entities:36204:1" rel="noopener">Onewo Space-Tech (ONEWO HK)</a> (OST) aims to raise upto US$784m in its Hong Kong IPO. OST is a property management service provider primarily owned by <a href="https://www.smartkarma.com/entities/china-vanke-co-ltd-h" target="_blank" data-smartkarma-citation="entities:18368:1" rel="noopener">China Vanke (2202 HK)</a>. </li>
<li>As per Frost &amp; Sullivan, amongst the residential community service providers in China, OST ranked first. It also ranked first in the commercial space integrated services market in China.</li>
<li>In this note, we will run the deal through our ECM framework and talk about valuations.</li>
</ul>



Onewo Space-Tech (ONEWO HK) (OST) aims to raise upto US$784m in its Hong Kong IPO. OST is a property management service provider primarily owned by China Vanke (2202 HK). 
As per Frost &amp; Sullivan, amongst the residential community service providers in China, OST ranked first. It also ranked first in the commercial space integrated services market in China.
In this note, we will run the deal through our ECM framework and talk about valuations.


Onewo Space-Tech IPO - Appears Digestible Even on Conservative Assumptions

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 16th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight inflows into Wuxi Biologics (Cayman) Inc and CNOOC. </li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 16th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight inflows into Wuxi Biologics (Cayman) Inc and CNOOC. 


Hong Kong Connect Flows (Sep 16th): Chinese Buying Wuxi Biologics After Biden's New Executive Order

<ul>
<li>
<a href="https://www.smartkarma.com/entities/onewo-space-tech" target="_blank" data-smartkarma-citation="entities:36204:1" rel="noopener">Onewo Space-Tech (ONEWO HK)</a> aims to raise upto US$2bn in its Hong Kong IPO. OST is a property management service provider primarily owned by <a href="https://www.smartkarma.com/entities/china-vanke-co-ltd-h" target="_blank" data-smartkarma-citation="entities:18368:1" rel="noopener">China Vanke (2202 HK)</a>. </li>
<li>As per Frost &amp; Sullivan, amongst the residential community service providers in China, OST ranked first. It also ranked first in the commercial space integrated services market in China.</li>
<li>In this note, we undertake a peer comparison with some of its larger listed peers.</li>
</ul>



Onewo Space-Tech (ONEWO HK) aims to raise upto US$2bn in its Hong Kong IPO. OST is a property management service provider primarily owned by China Vanke (2202 HK). 
As per Frost &amp; Sullivan, amongst the residential community service providers in China, OST ranked first. It also ranked first in the commercial space integrated services market in China.
In this note, we undertake a peer comparison with some of its larger listed peers.


Onewo Space-Tech Pre-IPO - Peer Comparison - Large Scale, Small Margins

<ul>
<li>
<a href="https://www.smartkarma.com/entities/onewo-space-tech" target="_blank" data-smartkarma-citation="entities:36204:1" rel="noopener">Onewo Space-Tech</a> (OST) aims to raise upto US$2bn in its Hong Kong IPO. OST is a property management service provider primarily owned by <a href="https://www.smartkarma.com/entities/china-vanke-co-ltd-h" target="_blank" data-smartkarma-citation="entities:18368:1" rel="noopener">China Vanke Co Ltd (H) (2202 HK)</a>. </li>
<li>As per Frost &amp; Sullivan, amongst the residential community service providers in China, OST ranked first. It also ranked first in the commercial space integrated services market in China.</li>
<li>In this note, we talk about the updates from its recently filed PHIP.</li>
</ul>



Onewo Space-Tech (OST) aims to raise upto US$2bn in its Hong Kong IPO. OST is a property management service provider primarily owned by China Vanke Co Ltd (H) (2202 HK). 
As per Frost &amp; Sullivan, amongst the residential community service providers in China, OST ranked first. It also ranked first in the commercial space integrated services market in China.
In this note, we talk about the updates from its recently filed PHIP.


Onewo Space-Tech Pre-IPO - PHIP Updates - Topline Still Strong YoY, Sequentially Cracks Emerging

<ul>
<li>Onewo Space-Tech (OST) aims to raise around US$2bn in its Hong Kong IPO. OST is a property management service provider primarily owned by <a href="https://www.smartkarma.com/entities/china-vanke-co-ltd-h" target="_blank" data-smartkarma-citation="entities:18368:1" rel="noopener">China Vanke Co Ltd (H) (2202 HK)</a>.</li>
<li>As per Frost &amp; Sullivan, amongst the residential community service providers in China, OST ranked first. It also ranked first in the commercial space integrated services market in China.</li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>


Onewo Space-Tech (OST) aims to raise around US$2bn in its Hong Kong IPO. OST is a property management service provider primarily owned by China Vanke Co Ltd (H) (2202 HK).
As per Frost &amp; Sullivan, amongst the residential community service providers in China, OST ranked first. It also ranked first in the commercial space integrated services market in China.
In this note, we will talk about the positive aspects of the deal.


Onewo Space-Tech Pre-IPO - The Positives - One of the Largest and Still Growing Fast

China

Powerlong Commercial Management Holdings Limited provides commercial operational and residential property management services across the People's Republic of China. Its commercial services include tenant management, rent collection, and value-added services for shopping malls and retail properties, while residential services cover properties, serviced apartments, and office buildings. The company was founded in 1993 and is headquartered in Shanghai.

Powerlong Commercial Management (9909 HK)

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Powerlong Commercial Management (9909 HK)

Onewo Space-Tech IPO - Appears Digestible Even on Conservative Assumptions

Onewo Space-Tech aims to raise upto US$784m in its Hong Kong IPO. OST is a property management service provider primarily owned by China Vanke.

Sumeet Singh

Hong Kong Connect Flows (Sep 16th): Chinese Buying Wuxi Biologics After Biden's New Executive Order

We analyzed Hong Connect flows last week and highlight Chinese purchase of Wuxi Biologics post new executive order signed on Monday.

Ke Yan, CFA, FRM

Onewo Space-Tech Pre-IPO - Peer Comparison - Large Scale, Small Margins

Onewo Space-Tech (ONEWO HK) aims to raise upto US$2bn in its Hong Kong IPO. OST is a property management service provider primarily owned by China...

Sumeet Singh

Onewo Space-Tech Pre-IPO - PHIP Updates - Topline Still Strong YoY, Sequentially Cracks Emerging

Onewo Space-Tech (OST) aims to raise upto US$2bn in its Hong Kong IPO. OST is a property management service provider primarily owned by China Vanke...

Sumeet Singh

Onewo Space-Tech Pre-IPO - The Positives - One of the Largest and Still Growing Fast

Onewo Space-Tech aims to raise around US$2bn in its Hong Kong IPO. OST is a property management service provider primarily owned by China Vanke Co...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)