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

Shenzhen Megmeet Electrical  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shenzhen-megmeet-electrical-co" target="_blank" data-smartkarma-citation="entities:29400:1" rel="noopener">Shenzhen Megmeet Electrical (002851 CH)</a> (SME), an industrial technology group, aims to raise around US$750m in its H-share listing.</li>
<li>SME has a broad product portfolio with six major business segments comprising power supplies, new energy transportation, industrial automation, smart home appliances, intelligent equipment, and precision connectivity and magnetic components.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Shenzhen Megmeet Electrical (002851 CH) (SME), an industrial technology group, aims to raise around US$750m in its H-share listing.
SME has a broad product portfolio with six major business segments comprising power supplies, new energy transportation, industrial automation, smart home appliances, intelligent equipment, and precision connectivity and magnetic components.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Aequitas: Shenzhen Megmeet Electrical A/H Listing - Broad Portfolio, Stock Driven by NVIDIA

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

<ul>
<li>Megmeet actively involved in the power system design of NVIDIA's Blackwell and Vera Rubin series architectures. This position enjoys very strong scarcity and an ecological moat.</li>
<li>If the product iteration pace of NVIDIA slows down, the technical roadmap changes, or the order delivery fails to meet expectations, it will directly affect Megmeet's growth logic.</li>
<li>The “scarcity” of Megmeet can provide certain valuation premium. Conservative scenario is A/H discount of 35%. Neutral scenario is A/H discount of 25%. Optimistic scenario is A/H discount of 15%.</li>
</ul>


Megmeet actively involved in the power system design of NVIDIA's Blackwell and Vera Rubin series architectures. This position enjoys very strong scarcity and an ecological moat.
If the product iteration pace of NVIDIA slows down, the technical roadmap changes, or the order delivery fails to meet expectations, it will directly affect Megmeet's growth logic.
The “scarcity” of Megmeet can provide certain valuation premium. Conservative scenario is A/H discount of 35%. Neutral scenario is A/H discount of 25%. Optimistic scenario is A/H discount of 15%.


Pre-IPO Shenzhen Megmeet Electrical (A/H Listing) - The Strength and the Concerns Behind

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.

<ul>
<li>Megmeet, a power supply manufacturer, is seeking an A+H listing. Huatai and Citi are the sponsors.</li>
<li>We look at the company's core segments: smart home appliances and power supplies.</li>
<li>We discuss preliminary thoughts on the company's valuation based on A-H premiums.</li>
</ul>


Megmeet, a power supply manufacturer, is seeking an A+H listing. Huatai and Citi are the sponsors.
We look at the company's core segments: smart home appliances and power supplies.
We discuss preliminary thoughts on the company's valuation based on A-H premiums.


Megmeet (麦格米特) A+H Pre-IPO: Early Thoughts

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Robotechnik Intelligent Te-A / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/robotechnik-intelligent-te-a" target="_blank" data-smartkarma-citation="entities:29824:1" rel="noopener">Robotechnik Intelligent Te-A (300757 CH)</a> has dual-listed H-shares (3757 HK) today.  The company operates in the automation equipment industry, primarily serving the PV solar cell and electronics/semiconductor industries.
</li>
<li>RoboTechnik ranked first among all brands in China's industrial robot market by shipment volume in H1 2026 and has held the top position among domestic brands for eight consecutive years. </li>
<li>The company's risks include: solar overcapacity, intense competition, regulatory &amp; geopolitical issues, customer concentration, capital needs, rising leverage, and governance issues.  </li>
</ul>



Robotechnik Intelligent Te-A (300757 CH) has dual-listed H-shares (3757 HK) today.  The company operates in the automation equipment industry, primarily serving the PV solar cell and electronics/semiconductor industries.

RoboTechnik ranked first among all brands in China's industrial robot market by shipment volume in H1 2026 and has held the top position among domestic brands for eight consecutive years. 
The company's risks include: solar overcapacity, intense competition, regulatory &amp; geopolitical issues, customer concentration, capital needs, rising leverage, and governance issues.  


HK IPO WATCH: RoboTechnik Intelligent Technology - Automating the Solar Sector !!

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Giant Network Group Co Ltd / Technical Analysis

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.</li>
<li>We will maintain our bullish intermediate-term view as long as market dynamics remain healthy and the SPX and ACWI-US are above 6028-6059 and $119-$121.</li>
<li>We remain overweight/continue to have a major focus on China (Shanghai Composite). It continues to offer the most attractive opportunities, with a significant number of today's recommendations coming from China.</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.
We will maintain our bullish intermediate-term view as long as market dynamics remain healthy and the SPX and ACWI-US are above 6028-6059 and $119-$121.
We remain overweight/continue to have a major focus on China (Shanghai Composite). It continues to offer the most attractive opportunities, with a significant number of today's recommendations coming from China.


Sticking With China; Bullish Outlook Intact. Buys in Consumer Discretionary, Materials, and Tech

China

Shenzhen Megmeet Electrical Co., Ltd. provides industrial automation and power supply solutions. The Company offers medical and IT equipment, telecom products, smart home appliances, lighting systems, flat panel displays, electric vehicles, and electric charging systems.

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Shenzhen Megmeet Electrical (002851 CH)

Aequitas: Shenzhen Megmeet Electrical A/H Listing - Broad Portfolio, Stock Driven by NVIDIA

Shenzhen Megmeet Electrical (002851 CH) (SME), an industrial technology group, aims to raise around US$750m in its H-share listing. In this note,...

Sumeet Singh

Pre-IPO Shenzhen Megmeet Electrical (A/H Listing) - The Strength and the Concerns Behind

Megmeet plays a crucial role in NVIDIA's power system design, with its scarcity/moat potentially leading to valuation premiums.But any slowdown in...

Xinyao (Criss) Wang

Megmeet (麦格米特) A+H Pre-IPO: Early Thoughts

Megmeet is seeking an A+H listing. This note covers the company's business and industry context, and gives our early valuation view.

Ke Yan, CFA, FRM

HK IPO WATCH: RoboTechnik Intelligent Technology - Automating the Solar Sector !!

Robotechnik Intelligent Technology is dual-listed on the H-share market today. The company operates in the automation equipment industry, serving...

David Mudd

Sticking With China; Bullish Outlook Intact. Buys in Consumer Discretionary, Materials, and Tech

Still Bullish. China (Shanghai Composite) has been a major focus ever since our July 3 Int'l Compass titled "China and Japan Breaking Out." It...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Aequitas: Shenzhen Megmeet Electrical A/H Listing - Broad Portfolio, Stock Driven by NVIDIA

Shenzhen Megmeet Electrical (002851 CH) (SME), an industrial technology group, aims to raise around US$750m in its H-share listing. In this note,...

Sumeet Singh

Pre-IPO Shenzhen Megmeet Electrical (A/H Listing) - The Strength and the Concerns Behind

​Megmeet plays a crucial role in NVIDIA's power system design, with its scarcity/moat potentially leading to valuation premiums.But any slowdown in...

Xinyao (Criss) Wang

Megmeet (麦格米特) A+H Pre-IPO: Early Thoughts

Megmeet is seeking an A+H listing. This note covers the company's business and industry context, and gives our early valuation view.

Ke Yan, CFA, FRM

HK IPO WATCH: RoboTechnik Intelligent Technology - Automating the Solar Sector !!

Robotechnik Intelligent Technology is dual-listed on the H-share market today. The company operates in the automation equipment industry, serving...

David Mudd

Sticking With China; Bullish Outlook Intact. Buys in Consumer Discretionary, Materials, and Tech

Still Bullish. China (Shanghai Composite) has been a major focus ever since our July 3 Int'l Compass titled "China and Japan Breaking Out." It...

Vermilion Research

Megmeet plays a crucial role in NVIDIA's power system design, with its scarcity/moat potentially leading to valuation premiums.But any slowdown in...