APAC IPOs & Placements, Aequitas Research

Hong Jie Seow

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

Shanghai Seer Intelligent Technology / Equity Capital Markets

Shanghai Seer Intelligent Technology (SSIT HK)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shanghai-seer-intelligent-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:50161:1" rel="noopener">Shanghai Seer Intelligent Technology (SSIT HK)</a> raised around US$136m in its Hong Kong IPO.</li>
<li>SIT has registered strong topline growth and narrowing losses. However, its valuation is not exactly the cheapest though its premium could be justified by faster revenue growth and higher GPMs.</li>
<li>We have looked at the company’s background and pricing in our earlier note, in this note we talk about the trading dynamics.</li>
</ul>



Shanghai Seer Intelligent Technology (SSIT HK) raised around US$136m in its Hong Kong IPO.
SIT has registered strong topline growth and narrowing losses. However, its valuation is not exactly the cheapest though its premium could be justified by faster revenue growth and higher GPMs.
We have looked at the company’s background and pricing in our earlier note, in this note we talk about the trading dynamics.


Aequitas: Shanghai Seer Intelligent Technology IPO Trading - Strong Retail And Insti Demand

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shanghai-seer-intelligent-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:50161:1" rel="noopener">Shanghai Seer Intelligent Technology (SSIT HK)</a> is looking to raise around US$136m in its upcoming Hong Kong IPO.</li>
<li>Shanghai Seer Intelligent Technology (SSIT) is an intelligent robotics company that provides an open platform enabling the "one-stop" development, acquisition, and use of intelligent robots, primarily for industrial applications.</li>
<li>In this note, we talk about the company's and valuations.</li>
</ul>



Shanghai Seer Intelligent Technology (SSIT HK) is looking to raise around US$136m in its upcoming Hong Kong IPO.
Shanghai Seer Intelligent Technology (SSIT) is an intelligent robotics company that provides an open platform enabling the "one-stop" development, acquisition, and use of intelligent robots, primarily for industrial applications.
In this note, we talk about the company's and valuations.


Shanghai Seer Intelligent Technology IPO - A Premium Play On Robotics Automation

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>Seer Technology launched Hongkong IPO to raise up to HK$ 1066.5M (~ US$ 136.1M). They are an intelligent robotics company in China, specializing in robotic controllers, software, robots and accessories.</li>
<li>Seer Technology intends to use the IPO proceeds for enhancing R&amp;D capabilities, overseas business development, acquisition/investment opportunities and working capital.</li>
<li>Seer Technology is a long-term growth story. We would recommend investors with a long-term investment horizon to consider the name, given the potential.</li>
</ul>


Seer Technology launched Hongkong IPO to raise up to HK$ 1066.5M (~ US$ 136.1M). They are an intelligent robotics company in China, specializing in robotic controllers, software, robots and accessories.
Seer Technology intends to use the IPO proceeds for enhancing R&amp;D capabilities, overseas business development, acquisition/investment opportunities and working capital.
Seer Technology is a long-term growth story. We would recommend investors with a long-term investment horizon to consider the name, given the potential.


Seer Technology IPO: R&D Capability, Product Portfolio Expansion, Sustained Demand Suffice Value

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

<ul>
<li>Seer has a three-in-one composite model consisting of "technology licensing centered on the controller + complete system integration + software platform subscription".The core logic is to achieve downward compatibility/upward extension.</li>
<li>When analyzing the revenue structure in depth, the growth quality is worrying: the high-margin core business is shrinking, and the main driver of growth has become the low-margin hardware sales.</li>
<li>Seer's positioning combines the scarcity of high-tech barriers and growth risk of not being profitable. Valuation would be balanced between the two. A neutral scenario could be P/S of 5-6x.</li>
</ul>


Seer has a three-in-one composite model consisting of "technology licensing centered on the controller + complete system integration + software platform subscription".The core logic is to achieve downward compatibility/upward extension.
When analyzing the revenue structure in depth, the growth quality is worrying: the high-margin core business is shrinking, and the main driver of growth has become the low-margin hardware sales.
Seer's positioning combines the scarcity of high-tech barriers and growth risk of not being profitable. Valuation would be balanced between the two. A neutral scenario could be P/S of 5-6x.


Pre-IPO Shanghai Seer Intelligent Technology (PHIP Updates) - Some Points Worth the Attention

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shanghai-seer-intelligent-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:50161:1" rel="noopener">Shanghai Seer Intelligent Technology (SSIT HK)</a> is looking to raise US$200m in its upcoming Hong Kong IPO.</li>
<li>Shanghai Seer Intelligent Technology (SSIT) is an intelligent robotics company that provides an open platform enabling the "one-stop" development, acquisition, and use of intelligent robots, primarily for industrial applications.</li>
<li>In this note, we look at the company’s past performance.</li>
</ul>



Shanghai Seer Intelligent Technology (SSIT HK) is looking to raise US$200m in its upcoming Hong Kong IPO.
Shanghai Seer Intelligent Technology (SSIT) is an intelligent robotics company that provides an open platform enabling the "one-stop" development, acquisition, and use of intelligent robots, primarily for industrial applications.
In this note, we look at the company’s past performance.


Aequitas: Shanghai Seer Intelligent Technology Pre-IPO-Strong Topline Growth, But Still Unprofitable

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Shanghai Seer Intelligent Technology (SSIT HK)

Aequitas: Shanghai Seer Intelligent Technology IPO Trading - Strong Retail And Insti Demand

Shanghai Seer Intelligent Technology raises $136m in HK IPO, showing strong growth but facing high valuation. Trading dynamics discussed in latest...

Hong Jie Seow

Shanghai Seer Intelligent Technology IPO - A Premium Play On Robotics Automation

Shanghai Seer Intelligent Technology plans to raise $136m in Hong Kong IPO, offering open platform for intelligent robotics in industrial...

Hong Jie Seow

Seer Technology IPO: R&D Capability, Product Portfolio Expansion, Sustained Demand Suffice Value

Seer Technology launched its Hong Kong IPO to raise over US$136M for R&D, business development, and growth opportunities, positioning itself as a...

Tina Banerjee

Pre-IPO Shanghai Seer Intelligent Technology (PHIP Updates) - Some Points Worth the Attention

Seer's model aims for compatibility/growth, but revenue structure shows concern with shrinking high-margin business. Valuation balances strength...

Xinyao (Criss) Wang

Aequitas: Shanghai Seer Intelligent Technology Pre-IPO-Strong Topline Growth, But Still Unprofitable

Shanghai Seer Intelligent Technology (SSIT HK) aims to raise US$200m in Hong Kong IPO, offering open platform for intelligent robotics development...

Hong Jie Seow

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Aequitas: Shanghai Seer Intelligent Technology IPO Trading - Strong Retail And Insti Demand

​Shanghai Seer Intelligent Technology raises $136m in HK IPO, showing strong growth but facing high valuation. Trading dynamics discussed in latest...

Hong Jie Seow

Shanghai Seer Intelligent Technology IPO - A Premium Play On Robotics Automation

​Shanghai Seer Intelligent Technology plans to raise $136m in Hong Kong IPO, offering open platform for intelligent robotics in industrial...

Hong Jie Seow

Seer Technology IPO: R&D Capability, Product Portfolio Expansion, Sustained Demand Suffice Value

​Seer Technology launched its Hong Kong IPO to raise over US$136M for R&D, business development, and growth opportunities, positioning itself as a...

Tina Banerjee

Pre-IPO Shanghai Seer Intelligent Technology (PHIP Updates) - Some Points Worth the Attention

​Seer's model aims for compatibility/growth, but revenue structure shows concern with shrinking high-margin business. Valuation balances strength...

Xinyao (Criss) Wang

Aequitas: Shanghai Seer Intelligent Technology Pre-IPO-Strong Topline Growth, But Still Unprofitable

​Shanghai Seer Intelligent Technology (SSIT HK) aims to raise US$200m in Hong Kong IPO, offering open platform for intelligent robotics development...

Hong Jie Seow

Shanghai Seer Intelligent Technology raises $136m in HK IPO, showing strong growth but facing high valuation. Trading dynamics discussed in latest...

Shanghai Seer Intelligent Technology plans to raise $136m in Hong Kong IPO, offering open platform for intelligent robotics in industrial...

Seer Technology launched its Hong Kong IPO to raise over US$136M for R&D, business development, and growth opportunities, positioning itself as a...

Seer's model aims for compatibility/growth, but revenue structure shows concern with shrinking high-margin business. Valuation balances strength...

Shanghai Seer Intelligent Technology (SSIT HK) aims to raise US$200m in Hong Kong IPO, offering open platform for intelligent robotics development...