2024 High Conviction Idea: More Downside for Meituan
We believe Meituan will disappoint market in terms of bottom line growth in 2024 due to the constraints of its business model. We valued the...
923 Views
Zensho Placement - Good Price to Raise At, at Least for the Company
Zensho Holdings (7550 JP) aims to raise around US$300m via a public offering. In this note, we talk about the deal dynamics and run the deal...
516 Views
Sichuan Baicha Baidao Pre-IPO - The Positives - Riding on Franchise Store Expansion
Sichuan Baicha Baidao Industrial (SBBI) is looking to raise up to US$300m in its upcoming HK IPO. The company sells new style tea drinks through...
547 Views
What Is Holding Back China Consumers’ Potential?
The majority of under-educated Chinese in lower-tier cities is irrelevant to China consumer market as we know it. Be cautious with simple...
863 Views
DPC Dash IPO - US$400m Lockup Expiry Should Provide a Liquidity Boost
DPC Dash (1405 HK) raised around US$75m in its Hong Kong IPO in Mar 2023. Its IPO linked lockup is set to expire soon, resulting in US$400m worth...
797 Views