IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/metis-techbio-co-ltd" target="_blank" data-smartkarma-citation="entities:48022:1" rel="noopener">Metis TechBio (MTB HK)</a>, an AI-driven nanomaterial platform technology company, is pre-marketing an HKEx IPO to raise US$300 million.</li>
<li>Metis has over 10 pipeline products, comprising 4 pre-clinical candidates, 3 clinical-stage products (MTS-201, MTS-105, MTS-109), 1 pre-NDA product (MTS-004) and 2 animal health products (PTS-201, PTS-101).</li>
<li>The investment case is bullish, driven by MTS-004's first-mover position, promising clinical-stage products, and strong licensing agreements.</li>
</ul>



Metis TechBio (MTB HK), an AI-driven nanomaterial platform technology company, is pre-marketing an HKEx IPO to raise US$300 million.
Metis has over 10 pipeline products, comprising 4 pre-clinical candidates, 3 clinical-stage products (MTS-201, MTS-105, MTS-109), 1 pre-NDA product (MTS-004) and 2 animal health products (PTS-201, PTS-101).
The investment case is bullish, driven by MTS-004's first-mover position, promising clinical-stage products, and strong licensing agreements.


Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of MS-China in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on ALIBABA, TENCENT, PDD, JIANGSU EASTERN SHENGHONG, TRINA SOLAR, GDS, China Life, PING AN INSURANCE.</li>
</ul>


We analysed the earning revision of component stocks of MS-China in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on ALIBABA, TENCENT, PDD, JIANGSU EASTERN SHENGHONG, TRINA SOLAR, GDS, China Life, PING AN INSURANCE.


MS-China Index Earning Revision (Feb): ALIBABA, TENCENT, PDD

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

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jan 30th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Alibaba (9988 HK), AIA (2318 HK), Sinopec (386 HK).</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jan 30th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Alibaba (9988 HK), AIA (2318 HK), Sinopec (386 HK).


HK Short Interest Weekly: Alibaba, AIA, Sinopec, CATL

<ul>
<li>We analysed the earning revision of component stocks of MS-China in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on CCB, ALIBABA, TAL Education, JD.COM, REMEGEN, ZIJIN MINING, XTALPI, TENCENT.</li>
</ul>


We analysed the earning revision of component stocks of MS-China in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on CCB, ALIBABA, TAL Education, JD.COM, REMEGEN, ZIJIN MINING, XTALPI, TENCENT.


MS-China Index Earning Revision (Jan): CCB, ALIBABA, TAL Education, JD.COM, REMEGEN, ZIJIN MINING

China

XtalPi is a biotechnology company that leverages artificial intelligence, quantum physics, and robotics to provide research and development solutions for early-stage drug discovery and material science. Its services include drug discovery solutions and intelligent automation solutions, offering products like XmartChem and PatSight. The company was founded in 2015 and is headquartered in Shenzhen, China.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

XtalPi (2228 HK)

Metis TechBio IPO: The Investment Case

Metis TechBio, an AI-driven nanomaterial platform technology company, is pre-marketing an HKEx IPO to raise US$300 million. In this note, I discuss...

Arun George

MS-China Index Earning Revision (Feb): ALIBABA, TENCENT, PDD

We analyzed MS-China's consensus for Feb 2026 and highlighted changes of EPS in ALIBABA (9988 HK), TENCENT (700 HK), PDD Holdings (PDD US).

Ke Yan, CFA, FRM

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

HK Short Interest Weekly: Alibaba, AIA, Sinopec, CATL

We analyzed the latest HK SFC report for aggregate short position as of Jan 30th and highlight short interest changes in Alibaba, AIA, Sinopec, CATL.

Ke Yan, CFA, FRM

MS-China Index Earning Revision (Jan): CCB, ALIBABA, TAL Education, JD.COM, REMEGEN, ZIJIN MINING

We analyzed MS-China's consensus for Jan 2026 and highlighted changes of EPS in CCB, ALIBABA, TAL Education, JD.COM, REMEGEN, ZIJIN MINING, XTALPI,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)