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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/guangdong-huayan-robotics-co-ltd" target="_blank" data-smartkarma-citation="entities:47616:1" rel="noopener">Guangdong Huayan Robotics </a>(GHR), a collaborative robotics company, is looking to raise around US$200m in its upcoming Hong Kong IPO.</li>
<li>GHR is a collaborative robotics (cobot) company engaged in the development, manufacturing and sale of cobots and core motion components for industrial automation applications.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Guangdong Huayan Robotics (GHR), a collaborative robotics company, is looking to raise around US$200m in its upcoming Hong Kong IPO.
GHR is a collaborative robotics (cobot) company engaged in the development, manufacturing and sale of cobots and core motion components for industrial automation applications.
In this note, we talk about the not-so-positive aspects of the deal.


Aequitas: Guangdong Huayan Robotics Pre-IPO - The Negatives - Most of the Revenue Comes from Related

<ul>
<li>
<a href="https://www.smartkarma.com/entities/guangdong-huayan-robotics-co-ltd" target="_blank" data-smartkarma-citation="entities:47616:1" rel="noopener">Guangdong Huayan Robotics</a> (GHR), a collaborative robotics company, is looking to raise around US$200m in its upcoming Hong Kong IPO.</li>
<li>GHR is a collaborative robotics (cobot) company engaged in the development, manufacturing and sale of cobots and core motion components for industrial automation applications.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Guangdong Huayan Robotics (GHR), a collaborative robotics company, is looking to raise around US$200m in its upcoming Hong Kong IPO.
GHR is a collaborative robotics (cobot) company engaged in the development, manufacturing and sale of cobots and core motion components for industrial automation applications.
In this note, we talk about the positive aspects of the deal.


Aequitas: Guangdong Huayan Robotics Pre-IPO - The Positives - Fast Growth

Shenzhen Zhaowei Machinery & Electronics / Equity Capital Markets

Shenzhen Zhaowei Machinery & Electronics (2692 HK)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shenzhen-zhaowei-machinery-a" target="_blank" data-smartkarma-citation="entities:46000:1" rel="noopener">Shenzhen Zhaowei Machinery (003021 CH)</a>, aims to raise around US$254m in its H-share listing.</li>
<li>Shenzhen Zhaowei Machinery &amp; Electronic (SZME) is a provider of integrated micro transmission and drive system solutions ranking first in China and fourth globally by revenue, according to F&amp;S.</li>
<li>We have looked at the company’s past performance in our previous note. In this note, we talk about the pricing.</li>
</ul>



Shenzhen Zhaowei Machinery (003021 CH), aims to raise around US$254m in its H-share listing.
Shenzhen Zhaowei Machinery &amp; Electronic (SZME) is a provider of integrated micro transmission and drive system solutions ranking first in China and fourth globally by revenue, according to F&amp;S.
We have looked at the company’s past performance in our previous note. In this note, we talk about the pricing.


Aequitas: Shenzhen Zhaowei A/H Listing - Hoping to Catch the Robotics Wave

APAC IPOs & Placements, Aequitas Research

Nicholas Tan

APAC IPOs & Placements

Estun Automation / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/estun-automation-co-ltd" target="_blank" data-smartkarma-citation="entities:25177:1" rel="noopener">Estun Automation (002747 CH)</a>, aims to raise up to US$300m in its H-share listing.</li>
<li>It is a leading industrial robotics company in China, engaged in the sales of (i) industrial robots and intelligent manufacturing systems and (ii) core automation components and motion control systems.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Estun Automation (002747 CH), aims to raise up to US$300m in its H-share listing.
It is a leading industrial robotics company in China, engaged in the sales of (i) industrial robots and intelligent manufacturing systems and (ii) core automation components and motion control systems.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Aequitas: Estun Automation A/H Listing -  Playing the Robotics Theme

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

Zijin Gold International / Index Rebalance

<ul>
<li>The review period for the March rebalance of this global index ended 31 December, the changes should be announced on 20 February and implemented at the close on 20 March.</li>
<li>For Asia Pac ex Japan, we forecast 266 changes (adds, deletes, migrations) for the index. Of those, 63 stocks could have over US$20m to trade from passive trackers.</li>
<li>The forecast passive buys have outperformed the headlines indices in all major markets and there could be some profit-taking following announcement of the changes.</li>
</ul>


The review period for the March rebalance of this global index ended 31 December, the changes should be announced on 20 February and implemented at the close on 20 March.
For Asia Pac ex Japan, we forecast 266 changes (adds, deletes, migrations) for the index. Of those, 63 stocks could have over US$20m to trade from passive trackers.
The forecast passive buys have outperformed the headlines indices in all major markets and there could be some profit-taking following announcement of the changes.


Asia Pac: (Forecast) Global Index Changes in March as Adds Outperform Bigly

China

UBTECH Robotics is a leading company specializing in the research, development, design, production, and commercialization of humanoid and smart service robots. Their product offerings include AI education solutions, smart logistics robots, and various sector-tailored service robots. The company was founded in March 2012 and is headquartered in Shenzhen, China.

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UBTECH Robotics (9880 HK)

Aequitas: Guangdong Huayan Robotics Pre-IPO - The Positives - Fast Growth

Guangdong Huayan Robotics (GHR), a collaborative robotics company, is looking to raise around US$200m in its upcoming Hong Kong IPO. In this note,...

Sumeet Singh

Aequitas: Shenzhen Zhaowei A/H Listing - Hoping to Catch the Robotics Wave

Shenzhen Zhaowei Machinery (003021 CH), aims to raise around US$254m in its H-share listing. In this note, we talk about pricing.

Sumeet Singh

Aequitas: Estun Automation A/H Listing - Playing the Robotics Theme

Estun Automation, aims to raise up to US$300m in its H-share listing. In this note, we look at its past performance and other deal dynamics that...

Nicholas Tan

Asia Pac: (Forecast) Global Index Changes in March as Adds Outperform Bigly

There will be over 250 changes in AP for a global index in March. The large adds have outperformed their country indices over the last few months...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Aequitas: Guangdong Huayan Robotics Pre-IPO - The Negatives - Most of the Revenue Comes from Related

Guangdong Huayan Robotics (GHR), a collaborative robotics company, is looking to raise around US$200m in its Hong Kong IPO. In this note, we talk...

Sumeet Singh

Aequitas: Guangdong Huayan Robotics Pre-IPO - The Positives - Fast Growth

Guangdong Huayan Robotics (GHR), a collaborative robotics company, is looking to raise around US$200m in its upcoming Hong Kong IPO. In this note,...

Sumeet Singh

Aequitas: Shenzhen Zhaowei A/H Listing - Hoping to Catch the Robotics Wave

Shenzhen Zhaowei Machinery (003021 CH), aims to raise around US$254m in its H-share listing. In this note, we talk about pricing.

Sumeet Singh

Aequitas: Estun Automation A/H Listing - Playing the Robotics Theme

Estun Automation, aims to raise up to US$300m in its H-share listing. In this note, we look at its past performance and other deal dynamics that...

Nicholas Tan

Asia Pac: (Forecast) Global Index Changes in March as Adds Outperform Bigly

There will be over 250 changes in AP for a global index in March. The large adds have outperformed their country indices over the last few months...

Brian Freitas