Overseas Chinese Equities, Aequitas Research

Ming Lu

A veteran with 19-year experience in equity research.

Geographical coverage:
* Companies operating in China, but listed in Hong Kong and the U.S.
* Previously China A-share (listed in mainland China).

Equity sector coverage:
* Chinese App / Internet-based consumption in China, e.g., Alibaba, Tencent, etc.
* Previously covered education, transportation, telecom, power, bank, advertisement, hotel, etc.

Research methods:
* Generally bottom-up.
* Talk to related people on the ground.  Talk to readers and independent writers for analyzing a news portal.  Talk to parents and teachers for analyzing a tutoring school. 
* Visit stores and show photos as evidence in notes.
* Do technical analysis when finding a short-seller attacking an equity.

Languages:
* English
* Mandarin Chinese (Official language of China)
* Shanghainese (Language of Shanghai, the most developed city in China)
* Cantonese (Language of Hong Kong and Canton Province, one of the most developed provinces in China)

Overseas Chinese Equities

China Internet Weekly (25Jan2021): Community Locked Down in Shanghai, Delivery Companies Polarized

China Internet Weekly (1Feb2021): Central Bank's Positive Comment on Ant, Xiaomi Got Mkt Share in Q4

Alibaba (BABA): Many Positive Signals in December Quarter, 27% Upside

Ant Group (蚂蚁集团): Facing Hostile Authorities After Jack Ma's Speech

Alibaba (BABA): This Online Antitrust Wave, A Risk, But Not A Massacre

RLX Technology Pre-IPO (RLX): Store Visits to Relx and Its Competitors

Gravity Works As WeWork Doesn't; Now Plan B

Bifurcated Chinese Express Market Developing

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.

Equity Bottom-Up

Alibaba Group Holding  / Equity Bottom-Up

<ul>
<li>Ele.me delivery man burned himself, as his payment was reduced.</li>
<li>Express parcels increased by 31.2% yoy to 83 billion in China in 2020.</li>
<li>Baidu (BIDU) announced that it would establish an electric vehicle joint venture.</li>
</ul>


Ele.me delivery man burned himself, as his payment was reduced.
Express parcels increased by 31.2% yoy to 83 billion in China in 2020.
Baidu (BIDU) announced that it would establish an electric vehicle joint venture.


China Internet Weekly (18Jan2021): BABA Delivery Man Tried Suicide, Baidu Produces Electric Vehicle