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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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Xiabuxiabu Catering / Equity Capital Markets

<p>We would bid for the IPO, given that 1) the company is a dominant player in fast casual hotpot market and has competitive advantage in its supply chain management over its peers; and 2) The valuation range (15.4x – 17.5x 2015E PER) represents 24% to 13% discount to its peers’ average 20.2x PER, providing valuation support upon debut.</p>

We would bid for the IPO, given that 1) the company is a dominant player in fast casual hotpot market and has competitive advantage in its supply chain management over its peers; and 2) The valuation range (15.4x – 17.5x 2015E PER) represents 24% to 13% discount to its peers’ average 20.2x PER, providing valuation support upon debut.

Xiabu Xiabu IPO - Buy the leading hotpot restaurant chain

China

Xiabuxiabu Catering Management China Holdings Co Ltd  owns and operates a chain of restaurants in China. The company allows customers to choose from a selection of vegetables, meats, and seafood to cook in their own individual hot pot in its restaurants.

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Xiabuxiabu Catering (520 HK)

Xiabu Xiabu IPO - Buy the leading hotpot restaurant chain

We would bid for the IPO, given that 1) the company is a dominant player in fast casual hotpot market and has competitive advantage in its supply...

Ke Yan, CFA, FRM

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52-week Range

Market Cap (USDm)

P/E

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