HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

<ul>
<li>As one of the few companies in the world that could provide one-stop solutions including all major medical devices used in non-vascular interventional surgery, Innovex’s outlook is promising.</li>
<li>About 30% overseas revenue indicates that the Company’s internationalization is on track, which could help to "hedge" negative domestic policy risks.</li>
<li>In terms of the valuation, Innovex’s valuation should be higher than Scivita but lower than Aohua. However, Innovex has the potential to surpass Aohua in the future.</li>
</ul>


As one of the few companies in the world that could provide one-stop solutions including all major medical devices used in non-vascular interventional surgery, Innovex’s outlook is promising.
About 30% overseas revenue indicates that the Company’s internationalization is on track, which could help to "hedge" negative domestic policy risks.
In terms of the valuation, Innovex’s valuation should be higher than Scivita but lower than Aohua. However, Innovex has the potential to surpass Aohua in the future.


Pre-IPO Innovex Medical - A Comprehensive Product Portfolio Underpins Future Growth Prospects

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.

Tsingtao Brewery Co Ltd H / Equity Capital Markets

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>IPO volumes remain subdued across the region, although a number of deals are said to be looking to launch soon.</li>
<li>Placements stole the limelight this week with Tsingtao, Woodside and Digital Tel Infra all managing to do well.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
IPO volumes remain subdued across the region, although a number of deals are said to be looking to launch soon.
Placements stole the limelight this week with Tsingtao, Woodside and Digital Tel Infra all managing to do well.


ECM Weekly (5th June 2022) - Tsingtao, Woodside, Digital Tel, CALB, Scivita

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Scivita Medical Technology / Equity Capital Markets

<ul>
<li>Scivita is a China-based medical device company with a focus on single-use endoscope. The company is looking to raise up to USD100 m via a Hong Kong listing.</li>
<li>In this note, we look at the company's background, the industry dynamics and the company's products.</li>
<li>We think the company has a decent investor backing and management team but the intense competition is the main issue.</li>
</ul>


Scivita is a China-based medical device company with a focus on single-use endoscope. The company is looking to raise up to USD100 m via a Hong Kong listing.
In this note, we look at the company's background, the industry dynamics and the company's products.
We think the company has a decent investor backing and management team but the intense competition is the main issue.


Scivita (新光维医疗) Pre-IPO: Intense Competition Ahead

<ul>
<li>
<a href="https://www.smartkarma.com/entities/scivita-medical-technology" target="_blank" data-smartkarma-citation="entities:34701:1" rel="noopener">Scivita Medical Technology (SMT HK)</a> has certain technical advantage and a comprehensive portfolio of products and candidates, which would help the Company seize a position in this market.</li>
<li>There are also some potential risks and concerns that could be unfavorable for Scivita’s development, which should be aware of by investors.</li>
<li>In terms of the valuation, SonoScape and Aohua Endoscopy (688212.CH) could be the comparable companies, but the valuation of Scivita should be lower than either of them.</li>
</ul>



Scivita Medical Technology (SMT HK) has certain technical advantage and a comprehensive portfolio of products and candidates, which would help the Company seize a position in this market.
There are also some potential risks and concerns that could be unfavorable for Scivita’s development, which should be aware of by investors.
In terms of the valuation, SonoScape and Aohua Endoscopy (688212.CH) could be the comparable companies, but the valuation of Scivita should be lower than either of them.


Pre-IPO Scivita Medical Technology - The Industry, the Business, and the Concerns

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/scivita-medical-technology" target="_blank" data-smartkarma-citation="entities:34701:1" rel="noopener">Scivita Medical Technology (SMT HK)</a> mainly focuses on single-use medical endoscopes, which comprises of three approved products and 11 pipeline products.</li>
<li>Global single-use medical endoscope market is a limited competition market, with high growth potential. The risk of contamination will continue to be the key driver of single-use endoscopes.</li>
<li>Scivita is at its early stage of commercialization in China and overseas market. Technical features of Scivita single-use endoscopes are comparable or superior to industry leader Ambu. </li>
</ul>



Scivita Medical Technology (SMT HK) mainly focuses on single-use medical endoscopes, which comprises of three approved products and 11 pipeline products.
Global single-use medical endoscope market is a limited competition market, with high growth potential. The risk of contamination will continue to be the key driver of single-use endoscopes.
Scivita is at its early stage of commercialization in China and overseas market. Technical features of Scivita single-use endoscopes are comparable or superior to industry leader Ambu. 


Scivita Medical Technology (SMT HK) Pre-IPO: A Promising Game Changer with First-Mover Advantage

Scivita Medical Technology (SMT HK)

Pre-IPO Innovex Medical - A Comprehensive Product Portfolio Underpins Future Growth Prospects

Innovex’s outlook is promising due to its capability to provide one-stop solutions. Its internationalization is on track to hedge domestic policy...

Xinyao (Criss) Wang

ECM Weekly (5th June 2022) - Tsingtao, Woodside, Digital Tel, CALB, Scivita

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Scivita (新光维医疗) Pre-IPO: Intense Competition Ahead

Scivita is a China-based medical device company with a focus on single-use medical endoscopes. We look at Scivita's portfolio, the industry...

Ke Yan, CFA, FRM

Pre-IPO Scivita Medical Technology - The Industry, the Business, and the Concerns

Scivita has technical advantage and a comprehensive portfolio, but there are uncertainties in terms of commercialization. Reusable and single-use...

Xinyao (Criss) Wang

Scivita Medical Technology (SMT HK) Pre-IPO: A Promising Game Changer with First-Mover Advantage

With its comprehensive endoscopic product portfolio and expanding commercialization capabilities, Scivita is well-positioned to capture the huge...

Tina Banerjee