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

Ke Yan, CFA, FRM

An inquisitive investment analyst with background in both finance and computing. Covering ECM research, biotech, market data analytics.

Asia Pac IPO & Placement Research, China biotech

Netjoy (云想科技) IPO: Alarming 1H2020, Avoid

Netjoy (云想科技) IPO Trading: Fairly Valued

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 Capital Markets

Netjoy, a leading short video marketing solution player, is raising USD 200m via a listing in Hong Kong.Netjoy rode the wave of emergence of short video platforms such as Tiktok and Kuaishou. It specialises in short video marketing. Online gaming is the main spender on ads through Netjoy.We note that key operating metrics such as revenue per click and revenue per advertiser has been trending down in the track record period. The company's shareholders are mainly individuals with no significant investments from institutional investors. We also note that the company didn't disclose operating data in 2020 hence it is challenging to assess the recent development. We provide our preliminary thought on its valuation.

Netjoy, a leading short video marketing solution player, is raising USD 200m via a listing in Hong Kong.Netjoy rode the wave of emergence of short video platforms such as Tiktok and Kuaishou. It specialises in short video marketing. Online gaming is the main spender on ads through Netjoy.We note that key operating metrics such as revenue per click and revenue per advertiser has been trending down in the track record period. The company's shareholders are mainly individuals with no significant investments from institutional investors. We also note that the company didn't disclose operating data in 2020 hence it is challenging to assess the recent development. We provide our preliminary thought on its valuation.

Netjoy (云想科技) Pre-IPO: Growth Stalled for the Short Video Marketer