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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

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, outflows, and holding by mainland investors.</li>
<li>We highlight inflows into ICBC, Tencent, CCB, Yankuang, Sinopec, and outflows from HSBC, Meituan, HKEx, China Hongqiao, CNOOC. </li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight inflows into ICBC, Tencent, CCB, Yankuang, Sinopec, and outflows from HSBC, Meituan, HKEx, China Hongqiao, CNOOC. 


Hong Kong Connect Flows (July): 11 Months of Inflows

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>BZ US: Enterprises’ Recruitment Confidence Shows Slight Recovery in July(+)</li>
<li>3690HK: Meituan and Restaurant Brands Collaborate to Establish Take-out Satellite Stores, Further Penetrating Offline Catering in China.(+)</li>
<li>PDD US/BABA US /SHEIN/SE US: Hundreds of Temu merchants protest at Guangzhou headquarters (-/+/+)</li>
</ul>


BZ US: Enterprises’ Recruitment Confidence Shows Slight Recovery in July(+)
3690HK: Meituan and Restaurant Brands Collaborate to Establish Take-out Satellite Stores, Further Penetrating Offline Catering in China.(+)
PDD US/BABA US /SHEIN/SE US: Hundreds of Temu merchants protest at Guangzhou headquarters (-/+/+)


[Blue Lotus Daily-TMT Update]:BZ US/3690HK/PDD US/BABA US/SE US/JD US/700HK/NTES US/BIDU/MSFT/TCOM

<ul>
<li>BABA US/PDD US/JD US: Alibaba overhauls Taobao/Tmall merchant fees (+/-/-)</li>
<li>NTES US: NetEase's &lt;Naraka Mobile&gt; Ranks 3rd on China iOS Grossing Chart on First Day, Performance In Line with Expectations (+)</li>
<li>TCOM US/ATAT US: Hotel RevPAR Drops 9% YoY in July MTD (-/-）</li>
</ul>


BABA US/PDD US/JD US: Alibaba overhauls Taobao/Tmall merchant fees (+/-/-)
NTES US: NetEase's &lt;Naraka Mobile&gt; Ranks 3rd on China iOS Grossing Chart on First Day, Performance In Line with Expectations (+)
TCOM US/ATAT US: Hotel RevPAR Drops 9% YoY in July MTD (-/-）


[Blue Lotus Daily-TMT Update]:BABA US/PDD US/JD US/NTES US/TCOM US/ATAT US/3690 HK/700 HK

Analyst - Media&Entertainment Sector, Blue Lotus Research Institute

Stan Zhao

Analyst - Media&Entertainment Sector

<ul>
<li>Tencent's game performance was mixed. &lt;DnF Mobile&gt; continued to perform well, with popularity increasing after the summer update. &lt;Peacekeeper Elite&gt; saw a natural decline due to the game's lifespan.</li>
<li>NetEase's &lt;Naraka Mobile&gt; launched on July 25 and showed an impressive performance with a large influx of players. It is expected to be a blockbuster with billions in annual grossing</li>
<li>Bilibili's &lt;FGO&gt; surged to fifth place on the grossing chart after its anniversary event, demonstrating the strong spending enthusiasm and loyalties of players for this nearly decade-old game.</li>
</ul>


Tencent's game performance was mixed. &lt;DnF Mobile&gt; continued to perform well, with popularity increasing after the summer update. &lt;Peacekeeper Elite&gt; saw a natural decline due to the game's lifespan.
NetEase's &lt;Naraka Mobile&gt; launched on July 25 and showed an impressive performance with a large influx of players. It is expected to be a blockbuster with billions in annual grossing
Bilibili's &lt;FGO&gt; surged to fifth place on the grossing chart after its anniversary event, demonstrating the strong spending enthusiasm and loyalties of players for this nearly decade-old game.


Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

<ul>
<li>10-15% Market Share for Server Chassis -- Chenbro is one of the leading producers of server chassis in the world.</li>
<li>Key Nvidia Development Partner -- Chenbro produces servers for most major data center names including AWS and China's BAT, as well as for Nvidia servers and architecture.</li>
<li>New Server Market Color to Be Released Soon -- The company is well positioned to expand capacity as the market expands and is expected to release 2Q24E earnings in early-August.</li>
</ul>


10-15% Market Share for Server Chassis -- Chenbro is one of the leading producers of server chassis in the world.
Key Nvidia Development Partner -- Chenbro produces servers for most major data center names including AWS and China's BAT, as well as for Nvidia servers and architecture.
New Server Market Color to Be Released Soon -- The company is well positioned to expand capacity as the market expands and is expected to release 2Q24E earnings in early-August.


TechChain Insights: Visit with Nvidia Server Chassis Producer Chenbro; A Ubiquitous Supplier

China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

Price Gauge
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Tencent Holdings (ADR) (TCEHY US)

Hong Kong Connect Flows (July): 11 Months of Inflows

We analyzed the Hong Kong Connect Scheme for July and highlighted inflows into ICBC, Tencent, CCB, Yankuang, Sinopec, and outflows from HSBC,...

Ke Yan, CFA, FRM

[Blue Lotus Daily-TMT Update]:BZ US/3690HK/PDD US/BABA US/SE US/JD US/700HK/NTES US/BIDU/MSFT/TCOM

Enterprises in the US show slight recovery in recruitment confidence, Meituan and Restaurant Brands collaborate to establish take-out satellite...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:BABA US/PDD US/JD US/NTES US/TCOM US/ATAT US/3690 HK/700 HK

Alibaba changes fees for Taobao/Tmall merchants, NetEase's <naraka mobile> ranks 3rd in China iOS chart, hotel RevPAR drops 9% YoY in July.</naraka>

Blue Lotus Research Institute

Online Game Monitor: July 15-29, 2024

Tencent's games have mixed performance, NetEase's <naraka mobile> shows performance and Bilibili's climbed the grossing chart after the...

Blue Lotus Research Institute

TechChain Insights: Visit with Nvidia Server Chassis Producer Chenbro; A Ubiquitous Supplier

Chenbro holds 10-15% market share in server chassis, serving major data center names like AWS and Nvidia, with new server market color to be...

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Connect Flows (July): 11 Months of Inflows

We analyzed the Hong Kong Connect Scheme for July and highlighted inflows into ICBC, Tencent, CCB, Yankuang, Sinopec, and outflows from HSBC,...

Ke Yan, CFA, FRM

[Blue Lotus Daily-TMT Update]:BZ US/3690HK/PDD US/BABA US/SE US/JD US/700HK/NTES US/BIDU/MSFT/TCOM

​Enterprises in the US show slight recovery in recruitment confidence, Meituan and Restaurant Brands collaborate to establish take-out satellite...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:BABA US/PDD US/JD US/NTES US/TCOM US/ATAT US/3690 HK/700 HK

​Alibaba changes fees for Taobao/Tmall merchants, NetEase's <naraka mobile> ranks 3rd in China iOS chart, hotel RevPAR drops 9% YoY in July.</naraka>

Blue Lotus Research Institute

Online Game Monitor: July 15-29, 2024

​Tencent's games have mixed performance, NetEase's <naraka mobile> shows performance and Bilibili's climbed the grossing chart after the...

Blue Lotus Research Institute

TechChain Insights: Visit with Nvidia Server Chassis Producer Chenbro; A Ubiquitous Supplier

​Chenbro holds 10-15% market share in server chassis, serving major data center names like AWS and Nvidia, with new server market color to be...

Vincent Fernando, CFA

Enterprises in the US show slight recovery in recruitment confidence, Meituan and Restaurant Brands collaborate to establish take-out satellite...

Alibaba changes fees for Taobao/Tmall merchants, NetEase's <naraka mobile> ranks 3rd in China iOS chart, hotel RevPAR drops 9% YoY in July.</naraka>

Tencent's games have mixed performance, NetEase's <naraka mobile> shows performance and Bilibili's climbed the grossing chart after the...

Chenbro holds 10-15% market share in server chassis, serving major data center names like AWS and Nvidia, with new server market color to be...