APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC 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/zjld-group" target="_blank" data-smartkarma-citation="entities:36734:1" rel="noopener">ZJLD Group (ZJLD HK)</a> is looking to raise up to US$400m in its Hong Kong IPO. The deal will be run by Goldman Sachs and China Securities. </li>
<li>ZJLD Group (ZJLD) is a Chinese liquor company primarily producing baijiu.</li>
<li>As per F&amp;S, the firm was the fourth largest privately-owned baijiu company and ranked third among all baijiu companies with three or more aroma types in terms of FY21 sales. </li>
</ul>



ZJLD Group (ZJLD HK) is looking to raise up to US$400m in its Hong Kong IPO. The deal will be run by Goldman Sachs and China Securities. 
ZJLD Group (ZJLD) is a Chinese liquor company primarily producing baijiu.
As per F&amp;S, the firm was the fourth largest privately-owned baijiu company and ranked third among all baijiu companies with three or more aroma types in terms of FY21 sales. 


Qingdao Ainnovation Technology Group / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/qingdao-ainnovation-technology-group-co-ltd" target="_blank" data-smartkarma-citation="entities:35405:1" rel="noopener">Qingdao Ainnovation Technology Group (2121 HK)</a> was listed on 27th Jan 2022, with its one-year lockup expiring on 27th January 2023.</li>
<li>Qingdao AInnovation Technology Group is an AI solutions provider offering full-stack AI-based products and solutions.</li>
<li>Coming up for one-year lockup expiry are the pre-IPO shareholders. Bulk of them are in the money as some have invested as early as 2018.</li>
</ul>



Qingdao Ainnovation Technology Group (2121 HK) was listed on 27th Jan 2022, with its one-year lockup expiring on 27th January 2023.
Qingdao AInnovation Technology Group is an AI solutions provider offering full-stack AI-based products and solutions.
Coming up for one-year lockup expiry are the pre-IPO shareholders. Bulk of them are in the money as some have invested as early as 2018.


AInnovation Technology Lock-Up - US$670m Worth of Pre-IPO Investment Is Still Well in the Money

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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outlfows, and holding by mainland investors.</li>
<li>We highlight inflows into Meituan, HKEX, China Unicom, Shenzhou Intl, Sensetime, and outflows from Xiaomi, HSBC, Anta Sports, China Pacific.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outlfows, and holding by mainland investors.
We highlight inflows into Meituan, HKEX, China Unicom, Shenzhou Intl, Sensetime, and outflows from Xiaomi, HSBC, Anta Sports, China Pacific.


Hong Kong Connect Flows Monthly: 12 Months of Inflows

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of December 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 Meituan, Tencent, and outflows from China Mobile.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of December 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 Meituan, Tencent, and outflows from China Mobile.


Hong Kong Connect Flows (Dec 16th): Meituan, Tencent, China Mobile

Equity Analyst, LightStream Research

Shifara Samsudeen, FCMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

GoTo Gojek Tokopedia Tbk PT / Equity Capital Markets

<ul>
<li>As 2022 comes to an end, we revisit our IPO calls over the last 12-months and how these stocks have performed to assess the effectiveness of our calls.</li>
<li>We made explicit buy/sell calls on 12 IPOs during this period with a hit-rate of 83.3% with Grab, GoTo, Cloud Music, SenseTime and Leapmotor IPOs making the highest returns.</li>
<li>We also wrote on several other IPOs during this period, however, those IPOs have not received approval yet.</li>
</ul>


As 2022 comes to an end, we revisit our IPO calls over the last 12-months and how these stocks have performed to assess the effectiveness of our calls.
We made explicit buy/sell calls on 12 IPOs during this period with a hit-rate of 83.3% with Grab, GoTo, Cloud Music, SenseTime and Leapmotor IPOs making the highest returns.
We also wrote on several other IPOs during this period, however, those IPOs have not received approval yet.


China

SenseTime Group Inc. offers information technology services. The Company develops artificial intelligence software products, computer vision software products, and other products. SenseTime Group provides its services throughout China.

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SenseTime Group (20 HK)

ZJLD Group Pre-IPO Tearsheet

ZJLD Group (ZJLD HK) is looking to raise up to US$400m in its Hong Kong IPO. The deal will be run by Goldman Sachs and China Securities.

Clarence Chu

AInnovation Technology Lock-Up - US$670m Worth of Pre-IPO Investment Is Still Well in the Money

Qingdao Ainnovation Technology Group (2121 HK) was listed on 27th Jan 2023, with its one-year lockup expiring on 27th January 2023. Coming up for...

Clarence Chu

Hong Kong Connect Flows Monthly: 12 Months of Inflows

We analyzed the Hong Kong Connect Scheme for December and highlight flows for Meituan, HKEX, China Unicom, Shenzhou Intl, Sensetime, Xiaomi, HSBC,...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Dec 16th): Meituan, Tencent, China Mobile

We analyzed the Hong Kong Connect Scheme for last week and highlight inflows for Meituan, Tencent, and outflows from China Mobile.

Ke Yan, CFA, FRM

Our IPO Calls for 2022

As 2022 comes to an end, we revisit our IPO calls for 2022 and assess the performance of these calls which had a hit rate of 83.3%. Some of the...

Shifara Samsudeen, FCMA, CGMA

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52-week Range

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