HK/China Equity Long-Short

Osbert Tang, CFA

Equity Capital Markets

Foshan Haitian Flavouring & Food Company / Equity Capital Markets

<ul>
<li>Hong Kong's IPO market has gathered momentum lately, especially with the overwhelming response to <a href="https://www.smartkarma.com/entities/contemporary-amperex-technology-catl-co-limited" target="_blank" data-smartkarma-citation="entities:45179:1" rel="noopener">CATL (3750 HK)</a>. Consumer IPOs are the next ones to gather interest. </li>
<li>
<a href="https://www.smartkarma.com/entities/foshan-haitian-flavouring-food-company" target="_blank" data-smartkarma-citation="entities:44279:1" rel="noopener">Foshan Haitian Flavouring &amp; Food Co (FHF HK)</a> is the most imminent one, potentially seeking up to US$1bn. Without significant peers in Hong Kong, it should attract good attention.</li>
<li>The other interesting ones include <a href="https://www.smartkarma.com/entities/zhou-liu-fu-jewellery-co-ltd" target="_blank" data-smartkarma-citation="entities:43706:1" rel="noopener">Zhou Liu Fu Jewellery Co., Ltd. (1716396D CH)</a>, <a href="https://www.smartkarma.com/entities/three-squirrels" target="_blank" data-smartkarma-citation="entities:45113:1" rel="noopener">Three Squirrels (TRS HK)</a>, and <a href="https://www.smartkarma.com/entities/eastroc-beverage-group-co-ltd-f3283290-a611-4cb4-8857-93101786e283" target="_blank" data-smartkarma-citation="entities:45048:1" rel="noopener">Eastroc Beverage Group (EBG HK)</a>. </li>
</ul>


Hong Kong's IPO market has gathered momentum lately, especially with the overwhelming response to CATL (3750 HK). Consumer IPOs are the next ones to gather interest. 

Foshan Haitian Flavouring &amp; Food Co (FHF HK) is the most imminent one, potentially seeking up to US$1bn. Without significant peers in Hong Kong, it should attract good attention.
The other interesting ones include Zhou Liu Fu Jewellery Co., Ltd. (1716396D CH), Three Squirrels (TRS HK), and Eastroc Beverage Group (EBG HK). 


HK Strategy: Some Consumer IPO Pipelines and Their Proxies

China

Three Squirrels Inc. manufactures and distributes food products. The Company produces roasted food products, nuts, candied fruits, and other products. Three Squirrels also provides daily necessities, office supplies, plastics, craft gifts, electronic products, and other products.

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HK Strategy: Some Consumer IPO Pipelines and Their Proxies

HK's IPO market gains momentum with CATL leading the way. Consumer IPOs like Foshan Haitian are next in line, attracting attention. Others include...

Osbert Tang, CFA