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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight flows of Alibaba, Horizon Robotics, Meituan, Byd, Xiaomi.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight flows of Alibaba, Horizon Robotics, Meituan, Byd, Xiaomi.


Hong Kong Connect Flows (September): $20bn Inflows

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/zijin-gold-international" target="_blank" data-smartkarma-citation="entities:45448:1" rel="noopener">Zijin Gold (2259 HK)</a> priced its IPO at HK$71.59 per share to raise gross proceeds of approximately US$3.2 billion. The shares will begin trading on September 30.</li>
<li>The IPO was discussed in <a href="https://www.smartkarma.com/insights/zijin-gold-ipo-the-investment-case" target="_blank" data-smartkarma-citation="insights:201176" rel="noopener">Zijin Gold IPO: The Investment Case</a> and <a href="https://www.smartkarma.com/insights/zijin-gold-ipo-2259-hk-valuation-insights" target="_blank" data-smartkarma-citation="insights:202646" rel="noopener">Zijin Gold IPO (2259 HK): Valuation Insights</a>.</li>
<li>The market sentiment of the peers has increased since the IPO launch. My analysis suggests that the IPO price range is attractive.</li>
</ul>



Zijin Gold (2259 HK) priced its IPO at HK$71.59 per share to raise gross proceeds of approximately US$3.2 billion. The shares will begin trading on September 30.
The IPO was discussed in Zijin Gold IPO: The Investment Case and Zijin Gold IPO (2259 HK): Valuation Insights.
The market sentiment of the peers has increased since the IPO launch. My analysis suggests that the IPO price range is attractive.


Chery Automobile / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/chery-automobile-co-ltd" target="_blank" data-smartkarma-citation="entities:39918:1" rel="noopener">Chery Automobile (9973</a><a target="_blank">. HK)</a> priced its IPO at HK$30.75 per share to raise gross proceeds of approximately US$1.2 billion. The shares will begin trading on September 25.</li>
<li>The IPO was discussed in <a href="https://www.smartkarma.com/insights/chery-automobile-ipo-the-bull-case" target="_blank" data-smartkarma-citation="insights:200985" rel="noopener">Chery Automobile IPO: The Bull Case</a>, <a href="https://www.smartkarma.com/insights/chery-automobile-ipo-the-bear-case" target="_blank" data-smartkarma-citation="insights:201049" rel="noopener">Chery Automobile IPO: The Bear Case</a> and <a href="https://www.smartkarma.com/insights/chery-automobile-ipo-9973-hk-valuation-insights" target="_blank" data-smartkarma-citation="insights:202204" rel="noopener">Chery Automobile IPO (9973 HK): Valuation Insights</a>. </li>
<li>The market sentiment of the peers has declined since the IPO launch. Chery Auto is fairly valued at the IPO price.</li>
</ul>



Chery Automobile (9973. HK) priced its IPO at HK$30.75 per share to raise gross proceeds of approximately US$1.2 billion. The shares will begin trading on September 25.
The IPO was discussed in Chery Automobile IPO: The Bull Case, Chery Automobile IPO: The Bear Case and Chery Automobile IPO (9973 HK): Valuation Insights. 
The market sentiment of the peers has declined since the IPO launch. Chery Auto is fairly valued at the IPO price.


Chery Automobile IPO (9973 HK) IPO: Trading Debut

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Victory Giant Technology -A / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/victory-giant-technology-a" target="_blank" data-smartkarma-citation="entities:25395:1" rel="noopener">Victory Giant Technology -A (300476 CH)</a> (VG) aims to raise around US$1bn in its H-share listing.</li>
<li>VG is one of the global leaders in advanced printed circuit boards (PCB) products for AI and high-performance computing.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Victory Giant Technology -A (300476 CH) (VG) aims to raise around US$1bn in its H-share listing.
VG is one of the global leaders in advanced printed circuit boards (PCB) products for AI and high-performance computing.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Victory Giant A/H Listing - Riding the AI Wave

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Thematic (Sector/Industry)

<ul>
<li>China is rapidly integrating artificial intelligence (AI) and robotics into its industrial sector to cement its position as a global leader in high-tech manufacturing.</li>
<li>With technological prowess, a large, established manufacturing base, and government support, Chinese factories will dominate automated manufacturing globally for the foreseeable future.</li>
<li>We look at a basket of Chinese manufacturers who are benefiting from automation with AI and robotics.  All the companies export a substantial portion of their products.</li>
</ul>


China is rapidly integrating artificial intelligence (AI) and robotics into its industrial sector to cement its position as a global leader in high-tech manufacturing.
With technological prowess, a large, established manufacturing base, and government support, Chinese factories will dominate automated manufacturing globally for the foreseeable future.
We look at a basket of Chinese manufacturers who are benefiting from automation with AI and robotics.  All the companies export a substantial portion of their products.


CHINA: Industrial Manufacturing Companies Up Their Game With Robotics!

China

Zhejiang Sanhua Intelligent Controls Co.,Ltd. manufactures refrigeration and air conditioning electrical parts. The Company designs, produces, and sells four-way reversing valves, electronic expansion valves, solenoid valves, microchannel heat exchangers, omega pumps, and more. Sanhua Intelligent also produces automotive thermal components for vehicles.

Zhejiang Sanhua Intelligent Controls (2050 HK)

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Zhejiang Sanhua Intelligent Controls (2050 HK)

Hong Kong Connect Flows (September): $20bn Inflows

We estimate that there were inflows of USD 20,828.1 million into HK Stocks in September. We highlight inflows into Alibaba, Horizon Robotics,...

Ke Yan, CFA, FRM

Zijin Gold IPO (2259 HK): Trading Debut

The market sentiment of the peers has increased since the IPO launch. My analysis suggests that the IPO price range is attractive.

Arun George

Chery Automobile IPO (9973 HK) IPO: Trading Debut

The IPO was priced at the top of the IPO range. The market sentiment of the peers has declined since the IPO launch. Chery Auto is fairly valued at...

Arun George

Victory Giant A/H Listing - Riding the AI Wave

Victory Giant Technology -A (300476 CH) (VG) aims to raise around US$1bn in its H-share listing. In this note, we look at the company's past...

Sumeet Singh

CHINA: Industrial Manufacturing Companies Up Their Game With Robotics!

China is rapidly integrating artificial intelligence (AI) and robotics into its industrial sector to cement its position as a global leader in high...

David Mudd

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52-week Range

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