IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Xizhi Technology (Lightelligence) (1879 HK) IPO: Valuation Insights

Weekly Deals Digest (26 Apr) - Xizhi (Lightelligence), Metis TechBio, Makino, Emmerson, Qoria, Qube

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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

Shanghai Xizhi Technology / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shanghai-xizhi-technology-lightelligence" target="_blank" data-smartkarma-citation="entities:48061:1" rel="noopener">Shanghai Xizhi Technology (Lightelligence) (LIG HK)</a>, a Chinese optical interconnect company, is pre-marketing an HKEx IPO to raise US$300-400 million.   </li>
<li>Its main product is a scale-up optical interconnect that creates tightly interconnected GPU clusters that can operate as a single unit for LLM (large language model) training and inference.</li>
<li>The investment case is bearish due to the tiny market share, nascent monetisation ill-suited for public markets, an uncertain path to profitability, cash burn, and an elongated cash conversion cycle. </li>
</ul>



Shanghai Xizhi Technology (Lightelligence) (LIG HK), a Chinese optical interconnect company, is pre-marketing an HKEx IPO to raise US$300-400 million.   
Its main product is a scale-up optical interconnect that creates tightly interconnected GPU clusters that can operate as a single unit for LLM (large language model) training and inference.
The investment case is bearish due to the tiny market share, nascent monetisation ill-suited for public markets, an uncertain path to profitability, cash burn, and an elongated cash conversion cycle. 


Xizhi Technology (Lightelligence) IPO: The Investment Case