Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li><p>Data / Five things to know about China’s mega East-West data center plan</p></li><li><p>Futures / China to scrutinize foreign businesses in the new futures market</p></li><li><p>Fintech / Ant Group to acquire Singaporean payment platform 2C2P</p></li></ul>

Data / Five things to know about China’s mega East-West data center planFutures / China to scrutinize foreign businesses in the new futures marketFintech / Ant Group to acquire Singaporean payment platform 2C2P

CX Daily: Five Things to Know About China’s Mega East-West Data Center Plan

Founder & CEO Bond Angle, LLC, Bond Angle, LLC

Vicki Bryan

Founder & CEO Bond Angle, LLC

Bond Angle, LLC

Insightful commentary and analysis on bond markets and market movers, including financial, economic, and industry catalysts and management shenanigans. 

High yield market investment research

Credit

<ul>
<li>Early reports of Tesla's "strong" Feb "sales" l<strong>eft out critical data, </strong>
</li>
<li>Like <strong>Model 3 deliveries sunk like an anchor</strong>, as I expected, and <strong>Model Y pace may already be slowing</strong>. </li>
<li>
<strong>Critical March</strong> is now hit with a <strong>major Covid outbreak—and lockdowns</strong>.</li>
</ul>


Early reports of Tesla's "strong" Feb "sales" left out critical data, 

Like Model 3 deliveries sunk like an anchor, as I expected, and Model Y pace may already be slowing. 

Critical March is now hit with a major Covid outbreak—and lockdowns.


Tesla China Deliveries: Weaker And More Important Than You Think

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

SenseTime Group  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sensetime-group" target="_blank" data-smartkarma-citation="entities:34319:1" rel="noopener">SenseTime Group (1475539D HK)</a> has relaunched its HKEx IPO with an unchanged IPO price range and target raise of up to US$768 million. Pricing is set for 23 December.</li>
<li>In <a href="https://www.smartkarma.com/insights/sensetime-ipo-initiation-big-brother" target="_blank" data-smartkarma-citation="insights:62104" rel="noopener">SenseTime IPO Initiation: Big Brother</a>, we stated that the negatives outweigh the positives and we would give the IPO a pass.</li>
<li>Our base-case DCF value is HK$3.48 per share, -11% below the mid-point of the IPO price range. Our DCF sensitivity analysis shows that the IPO price remains unattractive.   </li>
</ul>



SenseTime Group (1475539D HK) has relaunched its HKEx IPO with an unchanged IPO price range and target raise of up to US$768 million. Pricing is set for 23 December.
In SenseTime IPO Initiation: Big Brother, we stated that the negatives outweigh the positives and we would give the IPO a pass.
Our base-case DCF value is HK$3.48 per share, -11% below the mid-point of the IPO price range. Our DCF sensitivity analysis shows that the IPO price remains unattractive.   


SenseTime IPO: Relaunched but Remains a Pass

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sensetime-group" target="_blank" data-smartkarma-citation="entities:34319:1" rel="noopener">SenseTime Group (1475539D HK)</a> is the largest AI software company in Asia as measured by revenue in 2020. It has launched an HKEx IPO to raise up to US$767 million.  </li>
<li>In <a href="https://www.smartkarma.com/insights/sensetime-ipo-initiation-big-brother" target="_blank" data-smartkarma-citation="insights:62104" rel="noopener">SenseTime IPO Initiation: Big Brother</a>, we stated that the negatives outweigh the positives and we would give the IPO a pass. </li>
<li>Our valuation analysis suggests that the IPO price is unattractive. We would give the IPO a pass. Pricing is expected on 10 December with a listing on 17 December.</li>
</ul>



SenseTime Group (1475539D HK) is the largest AI software company in Asia as measured by revenue in 2020. It has launched an HKEx IPO to raise up to US$767 million.  
In SenseTime IPO Initiation: Big Brother, we stated that the negatives outweigh the positives and we would give the IPO a pass. 
Our valuation analysis suggests that the IPO price is unattractive. We would give the IPO a pass. Pricing is expected on 10 December with a listing on 17 December.


Chief Economist

Diana Choyleva

Enodo Economics

Enodo Economics is an independent macroeconomic forecasting company that untangles complexity, challenges the consensus, and makes sense of the future. Our focus is on China – one of the most misunderstood economies in the world, but one of the most important to figure out.  Enodo’s chief economist, Diana Choyleva, has been analysing China for almost 20 years, while Enodo’s team boasts a combined 140 years’ experience covering China’s economy, politics and markets. 

Macroeconomics

<h2>China News That Matters</h2><ul>
<li>This party keeps on rocking</li>
<li>More stocks, and students, to make better chips</li>
<li>Abandon engagement with China?</li>
<li>A toast, Good-Neighbourliness!</li>
<li>Western water powers Eastern China</li>
</ul><div class="content-remarks"><p>In my weekly digest China News That Matters, I will give you selected summaries, sourced from a variety of local Chinese-language and international news outlets, and highlight why I think the news is significant. These posts are meant to neither be bullish nor bearish, but help you separate the signal from the noise.</p></div>

China News That Matters
This party keeps on rocking
More stocks, and students, to make better chips
Abandon engagement with China?
A toast, Good-Neighbourliness!
Western water powers Eastern China
In my weekly digest China News That Matters, I will give you selected summaries, sourced from a variety of local Chinese-language and international news outlets, and highlight why I think the news is significant. These posts are meant to neither be bullish nor bearish, but help you separate the signal from the noise.

China

SAIC Motor Corporation Ltd., through joint ventures, manufactures and markets automobiles and related parts and accessories.

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SAIC Motor (600104 CH)

CX Daily: Five Things to Know About China’s Mega East-West Data Center Plan

Five things to know about China’s mega East-West data center plan. China to scrutinize foreign businesses in the new futures market

Caixin Global

Tesla China Deliveries: Weaker And More Important Than You Think

Early reports of Tesla's "strong" Feb "sales" left out critical data, like Model 3 sunk like an anchor, as I expected, and Model Y pace may already...

Vicki Bryan

SenseTime IPO: Relaunched but Remains a Pass

SenseTime has relaunched its HKEx IPO with an unchanged IPO price range and target raise of up to US$768 million. Our DCF sensitivity analysis...

Arun George

SenseTime IPO: Valuation Insights

Our valuation analysis suggests that the IPO price is unattractive. We would give the IPO a pass. Pricing is expected on 10 December with a listing...

Arun George

CCP/ Chips/ US-China/ Russia/ Hydro

In my weekly digest, I will give you selected summaries, sourced from a variety of local Chinese-language and international news outlets, and...

Diana Choyleva

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