Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

Shanghai Biren Intelligent Technology / Equity Capital Markets

Shanghai Biren Intelligent Technology Co. Ltd. operates as a general smart chip design developer. The Company provides artificial intelligence training and inference, graphics rendering, high performance general purpose computing, and other services. Shanghai Biren Intelligent Technology conducts businesses in China.

Shanghai Biren Intelligent Technology (SBIT HK)

<ul>
<li>Biren Technology, a Shanghai-based fabless chip design company that develops intelligent processors for GPU and DSA computation architectures, filed to go public in Hong Kong.  </li>
<li>Biren Technology was founded in 2019 by CEO &amp; Chairman Mr. Wen Zhang, who previously worked at AI software company SenseTime Group Inc.   </li>
<li>This is a red-hot upcoming IPO to watch, in my view. Moore Threads and MetaX Integrated Circuits have recently raised $1.1B and ~$600M in their public share offerings in Shanghai.</li>
</ul>


Biren Technology, a Shanghai-based fabless chip design company that develops intelligent processors for GPU and DSA computation architectures, filed to go public in Hong Kong.  
Biren Technology was founded in 2019 by CEO &amp; Chairman Mr. Wen Zhang, who previously worked at AI software company SenseTime Group Inc.   
This is a red-hot upcoming IPO to watch, in my view. Moore Threads and MetaX Integrated Circuits have recently raised $1.1B and ~$600M in their public share offerings in Shanghai.


Biren Technology IPO: China’s “NVIDIA Moment” and The Rise of a Homegrown AI Chip Champion

Global Healthcare Analyst

Tina Banerjee

Shanghai Forest Cabin Biological-Tech / Equity Capital Markets

Shanghai Forest Cabin Biological-Tech (SFCBT HK)

<ul>
<li>Shanghai Forest Cabin launched its Hongkong IPO aiming to raise up to HK$1086.2M. The company plans to sell 13.97M shares at HK$77.77 per share.</li>
<li>Shanghai Forest Cabin (SFC) are a premium domestic skincare brand in China with a focus on the anti-wrinkle and firming skincare market, under their flagship brand Forest Cabin.</li>
<li>The company’s business model is robust. We think Shanghai Forest Cabin issue is attractively priced and investors can surely look to invest in this growth story.</li>
</ul>


Shanghai Forest Cabin launched its Hongkong IPO aiming to raise up to HK$1086.2M. The company plans to sell 13.97M shares at HK$77.77 per share.
Shanghai Forest Cabin (SFC) are a premium domestic skincare brand in China with a focus on the anti-wrinkle and firming skincare market, under their flagship brand Forest Cabin.
The company’s business model is robust. We think Shanghai Forest Cabin issue is attractively priced and investors can surely look to invest in this growth story.


Shanghai Forest Cabin IPO: Delivers Essence-Tial Growth, Investors Can Put A Skin in The Game

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.

InSilico Medicine Cayman TopCo / Equity Capital Markets

<ul>
<li>InSilico Medicine, an AI-driven drug discovery and development, launched its IPO to raise at least USD 293 million via a Hong Kong listing.</li>
<li>In this note, we look at the deal terms and provide a valuation for the company.</li>
<li>We think the valuation is anchored by its innovative assets while the AI asset value provides upside.</li>
</ul>


InSilico Medicine, an AI-driven drug discovery and development, launched its IPO to raise at least USD 293 million via a Hong Kong listing.
In this note, we look at the deal terms and provide a valuation for the company.
We think the valuation is anchored by its innovative assets while the AI asset value provides upside.


InSilico Medicine (英矽智能) IPO: AI Assets as Upside

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

GigaDevice Semiconductor  / Equity Capital Markets

GigaDevice Semiconductor Inc. manufactures and distributes non volatile memory devices. The Company produces and sells memory cards, controllers, flash chips, integrated circuits, and other products. GigaDevice Semiconductor also operates goods and technology import and export, import and export agency, and other businesses.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/gigadevice-semiconductor-inc" target="_blank" data-smartkarma-citation="entities:27253:1" rel="noopener">GigaDevice Semiconductor (603986 CH)</a> (GD), an IC design house, aims to raise around US$1bn in its H-share listing.</li>
<li>GD is a leading specialty memory chip and MCU company in mainland China.</li>
<li>We have looked at the company’s past performance in our previous note. In this note, we talk about the recent updates and likely A/H premium.</li>
</ul>



GigaDevice Semiconductor (603986 CH) (GD), an IC design house, aims to raise around US$1bn in its H-share listing.
GD is a leading specialty memory chip and MCU company in mainland China.
We have looked at the company’s past performance in our previous note. In this note, we talk about the recent updates and likely A/H premium.


GigaDevice A/H Listing - PHIP Updates and Thoughts on A/H Premium

Hong Jie Seow

Independent Insight Provider

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shanghai-forest-cabin-biological-tech-co-ltd" target="_blank" data-smartkarma-citation="entities:45249:1" rel="noopener">Shanghai Forest Cabin Biological-Tech (SFCBT HK)</a> is looking to raise up to US$139m in its upcoming Hong Kong IPO.</li>
<li>SFC is the leader among China’s premium domestic skincare brands with a focus on anti-wrinkle and firming skincare market.</li>
<li>We have looked at the company's past performance in our previous note. In this note, we talk about valuations.</li>
</ul>



Shanghai Forest Cabin Biological-Tech (SFCBT HK) is looking to raise up to US$139m in its upcoming Hong Kong IPO.
SFC is the leader among China’s premium domestic skincare brands with a focus on anti-wrinkle and firming skincare market.
We have looked at the company's past performance in our previous note. In this note, we talk about valuations.


Shanghai Forest Cabin IPO: High Growth And Margins, Priced At A Discount

Coverage of China and Hong Kong IPOs & Placements