In today’s briefing:
- Lung Fung Group Holdings Ltd Pre-IPO Tearsheet
- CiDi IPO – Peer Comp and Thoughts on Valuation
- Iron Ore’s Speculative Run Loses Steam
- Lucror Analytics – Morning Views Asia
- Hong Kong Single Stock Options Weekly (Dec 08–12): Late Support Emerges as Breadth and Volumes Slide
Lung Fung Group Holdings Ltd Pre-IPO Tearsheet
- Lung Fung Group (LFG HK) is looking to raise at least US$100m in its upcoming Hong Kong IPO. The deal will be run by DBS.
- LFG is a Hong Kong-based department store chain retailing a wide variety of pharmaceutical products, health products, beauty products and other consumer goods.
- According to Frost & Sullivan in 2024, LFG was the largest pharmaceutical product retailer by retail sales value in Hong Kong, with a 5.2% market share.
CiDi IPO – Peer Comp and Thoughts on Valuation
- CiDi Inc (CIDI HK) is looking to raise about US$183m in its upcoming Hong Kong IPO.
- CiDi is a leading autonomous driving technology provider for commercial vehicles in China, with a strong foothold in the autonomous mining segment.
- In our previous note, we looked at the firm’s past performance. In this note, we talk about the IPO valuations.
Iron Ore’s Speculative Run Loses Steam
- Iron ore’s rally appeared sentiment driven, as narrowing mill margins and easing blast furnace activity highlight softening fundamentals and fading demand support.
- Broader technical momentum is weakening as MACD turns bearish and prices retreat from Bollinger resistance, flagging rising downside risks ahead.
- The DCE-SGX spread’s position below key MAs and repeated lower Bollinger band tests signal weak momentum, leaving upside uncertain and the near-term bias tilted bearish.
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: Longfor Group, Seazen Group, Nickel Industries
- UST yields were stable yesterday, with long-end yields rising marginally despite a decent auction of 30Y notes (which stopped through marginally, at 4.773% award vs. the 4.774% when-issued yield).
- The yield on the 2Y UST was unchanged at 3.54%, while the yield on the 10Y UST rose 1 bp to 4.16%. Equities were mixed, as tech stocks declined on disappointing earnings from Oracle Corp. The S&P 500 rose 0.2% to 6,901, while the Nasdaq declined 0.3% to 23,594.
Hong Kong Single Stock Options Weekly (Dec 08–12): Late Support Emerges as Breadth and Volumes Slide
- Early weakness gave way to a late rebound, leaving HSI modestly lower on the week after a choppy but contained trading pattern.
- Breadth continued to deteriorate, with fewer than one third of optionable names finishing higher for a second consecutive week. Option volumes continue lower trend.
- Pop Mart stood out with a large increase in option volume after heavy selling to start the week.
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