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 statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 2nd based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Aia (1299 HK), Ck Asset (1113 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Aia (1299 HK), Ck Asset (1113 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 2nd based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Aia (1299 HK), Ck Asset (1113 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Aia (1299 HK), Ck Asset (1113 HK).


Hong Kong Buybacks Weekly (Jun 2nd): Tencent, AIA, CK Asset

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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>In the IPO space, Indonesia appears to be the only market where sizeable deals are being done as Growatt and Olam Agri  laucnhes got pushed back.</li>
<li>On the placement front, there were only a few smaller deals that were lauched, apart from the selldown in <a href="https://www.smartkarma.com/entities/coal-india-ltd" target="_blank" data-smartkarma-citation="entities:9117:1" rel="noopener">Coal India Ltd (COAL IN)</a>. </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.
In the IPO space, Indonesia appears to be the only market where sizeable deals are being done as Growatt and Olam Agri  laucnhes got pushed back.
On the placement front, there were only a few smaller deals that were lauched, apart from the selldown in Coal India Ltd (COAL IN). 


ECM Weekly (4th June 2023) - JD Ind, Alibaba, Growatt, Olam Agri, Coal India, Adani, Patanjali

China/Asia TMT

Shawn Yang

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>PDD: Pinduoduo starts its "618 Opening Red" campaign, investing 5 billion RMB and offering subsidies for 4 consecutive days</li>
<li>Tencent: Streamers and players indicate that there have been a large number of AI-controlled bots appearing in the matches of the game "Honor of Kings".</li>
<li>LKNCY: COTTI Coffee opened its No.3000 stores, and Luckin Coffee is going to open its No.10k store.(/)</li>
</ul>


PDD: Pinduoduo starts its "618 Opening Red" campaign, investing 5 billion RMB and offering subsidies for 4 consecutive days
Tencent: Streamers and players indicate that there have been a large number of AI-controlled bots appearing in the matches of the game "Honor of Kings".
LKNCY: COTTI Coffee opened its No.3000 stores, and Luckin Coffee is going to open its No.10k store.(/)


China TMT Update June 2 - PDD/700.HK/LKNCY: Pinduoduo Starts "618 " Campaign, Investing 5 Bn RMB

<ul>
<li>700.HK:  Supercell’s new game Floodrush receives unenthusiastic reception ( - )</li>
<li>3690.HK / TCOM: Douyin launches new hotel booking feature (-/-)</li>
<li>LI: Li Auto's daily order volume exceeds 1k for three consecutive weeks (+)</li>
</ul>


700.HK:  Supercell’s new game Floodrush receives unenthusiastic reception ( - )
3690.HK / TCOM: Douyin launches new hotel booking feature (-/-)
LI: Li Auto's daily order volume exceeds 1k for three consecutive weeks (+)


China TMT Update Jun 1 - 700.HK/Douyin/3690.HK/TCOM/Li- Supercell’s New Game Receives Unenthusiastic

<ul>
<li>On 28th Mar 2023, <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba (ADR) (BABA US)</a> announced that it would adopt a new organizational and governance structure, splitting into six major business groups and other investments.</li>
<li>Alibaba also stated that each of the business groups would be set up as an independent entity with its own board and the groups will eventually seek to list.</li>
<li>In our previous notes, we highlighted which divisions could list and looked at some of the divisions in more detail. In this note, we will talk about the local operations.</li>
</ul>


On 28th Mar 2023, Alibaba (ADR) (BABA US) announced that it would adopt a new organizational and governance structure, splitting into six major business groups and other investments.
Alibaba also stated that each of the business groups would be set up as an independent entity with its own board and the groups will eventually seek to list.
In our previous notes, we highlighted which divisions could list and looked at some of the divisions in more detail. In this note, we will talk about the local operations.


Alibaba Potential IPOs - Part 5 - An Early Look at Local Operations

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.

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Tencent Holdings (ADR) (TCEHY US)

Hong Kong Buybacks Weekly (Jun 2nd): Tencent, AIA, CK Asset

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

ECM Weekly (4th June 2023) - JD Ind, Alibaba, Growatt, Olam Agri, Coal India, Adani, Patanjali

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

China TMT Update June 2 - PDD/700.HK/LKNCY: Pinduoduo Starts "618 " Campaign, Investing 5 Bn RMB

PDD: Pinduoduo starts "618 Opening Red" campaign；Tencent: a large number of AI-controlled bots in "Honor of Kings"；LKNCY: COTTI Coffee opened...

Blue Lotus Research Institute

China TMT Update Jun 1 - 700.HK/Douyin/3690.HK/TCOM/Li- Supercell’s New Game Receives Unenthusiastic

700.HK: Supercell’s new game receives unenthusiastic reception (-) 3690.HK/TCOM: Douyin launches new hotel booking feature; LI: Li Auto's daily...

Blue Lotus Research Institute

Alibaba Potential IPOs - Part 5 - An Early Look at Local Operations

On 28th Mar 2023, Alibaba (BABA US) announced that it would adopt a new organizational and governance structure. In those note we take an early...

Sumeet Singh

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