Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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

<ul>
<li>Giant Biogene was listed in Hong Kong IPO in 2022. It has done well since and is now trading 45% above its IPO price, but its still cheap.</li>
<li>GB is a leader in the bioactive ingredient-based professional skin treatment product industry in China.</li>
<li>In this note, we will talk about the company’s past performance and future prospects.</li>
</ul>


Giant Biogene was listed in Hong Kong IPO in 2022. It has done well since and is now trading 45% above its IPO price, but its still cheap.
GB is a leader in the bioactive ingredient-based professional skin treatment product industry in China.
In this note, we will talk about the company’s past performance and future prospects.


2024 High Conviction - Giant Biogene - Growth Rate Keeps Moving Higher

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/geely-automobile-holdings-ltd" target="_blank" data-smartkarma-citation="entities:127:1" rel="noopener">Geely Auto (175 HK)</a></strong>'s share price has largely swatted away the pending US-listing of <strong><a href="https://www.smartkarma.com/entities/zeekr-intelligent-technology-holding" target="_blank" data-smartkarma-citation="entities:36785:1" rel="noopener">ZEEKR (ZK US)</a></strong>.</li>
<li>ZEEKR was valued at US$13bn after a US$750mn fund raising in February. At that value, Geely's 54.7% stake is worth 58% of its market cap.</li>
<li>Geely is trading around a six and half year low, and below its five average trailing/forward metrics. </li>
</ul>



Geely Auto (175 HK)'s share price has largely swatted away the pending US-listing of ZEEKR (ZK US).
ZEEKR was valued at US$13bn after a US$750mn fund raising in February. At that value, Geely's 54.7% stake is worth 58% of its market cap.
Geely is trading around a six and half year low, and below its five average trailing/forward metrics. 


<ul>
<li>With <a href="https://www.smartkarma.com/entities/toyota-motor-corp" target="_blank" data-smartkarma-citation="entities:73:1" rel="noopener">Toyota (7203 JP)</a> having sold some of its stake in <a href="https://www.smartkarma.com/entities/denso-corp" target="_blank" data-smartkarma-citation="entities:18703:1" rel="noopener">Denso</a>, <a href="https://www.smartkarma.com/entities/kddi-corp" target="_blank" data-smartkarma-citation="entities:639:1" rel="noopener">KDDI</a> and <a href="https://www.smartkarma.com/entities/harmonic-drive-systems-inc" target="_blank" data-smartkarma-citation="entities:10238:1" rel="noopener">Harmonic Drive</a> this year, it has firmly set the ball rolling for unwinding some of its cross-shareholding.</li>
<li>Toyota has a shareholding in around 60 listed companies, with its combined disposable stake worth over US$26bn.</li>
<li>In this note, we take a look at its stakes in various companies to see which ones could possibly be candidates for further selldowns.</li>
</ul>


With Toyota (7203 JP) having sold some of its stake in Denso, KDDI and Harmonic Drive this year, it has firmly set the ball rolling for unwinding some of its cross-shareholding.
Toyota has a shareholding in around 60 listed companies, with its combined disposable stake worth over US$26bn.
In this note, we take a look at its stakes in various companies to see which ones could possibly be candidates for further selldowns.


Toyota Cross-Shareholding - To Say a Whole Lot Is Left Would Be a US$26bn Understatement

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Thematic (Sector/Industry)

<ul><li>Chinese suppliers of both auto hardware and software are following their carmaking clients overseas, particularly focusing on Europe and North America, a new report showed.</li><li>The suppliers have several motivations, such as being more responsive to their Chinese clients with assembly plants abroad, reducing shipping costs, avoiding tariffs and localizing their operations, according to industry data compiled by Cyzone research center and a subsidiary of China Automotive Technology and Research Center Co. Ltd.</li><li>The report looked at 70 “outstanding” Chinese auto parts and software suppliers that were expanding overseas as of June.</li></ul>

Chinese suppliers of both auto hardware and software are following their carmaking clients overseas, particularly focusing on Europe and North America, a new report showed.The suppliers have several motivations, such as being more responsive to their Chinese clients with assembly plants abroad, reducing shipping costs, avoiding tariffs and localizing their operations, according to industry data compiled by Cyzone research center and a subsidiary of China Automotive Technology and Research Center Co. Ltd.The report looked at 70 “outstanding” Chinese auto parts and software suppliers that were expanding overseas as of June.

Most of China’s Top Auto Suppliers Are Expanding Into Europe, Report Shows 

<ul><li>China has slammed the European Commission for requiring Chinese electric-vehicle (EV) and battery makers to provide additional information for its anti-subsidy probe as beyond what is required, saying that its requirements “undermine fair competition” and “disregard” World Trade Organization (WTO) rules.</li><li>“The types, scope and amount of information that the European Commission has asked from Chinese companies are unprecedented, far exceeding the needs of the anti-subsidy investigation,” said He Yadong, a spokesperson for the Ministry of Commerce (MOC), at a Thursday media briefing.</li><li>The information requested included detailed battery components and formulation, as well as the production costs of EVs, purchase information for all EV parts and raw materials, sales channels and pricing methods, and information on customers in Europe, He said.</li></ul>

China has slammed the European Commission for requiring Chinese electric-vehicle (EV) and battery makers to provide additional information for its anti-subsidy probe as beyond what is required, saying that its requirements “undermine fair competition” and “disregard” World Trade Organization (WTO) rules.“The types, scope and amount of information that the European Commission has asked from Chinese companies are unprecedented, far exceeding the needs of the anti-subsidy investigation,” said He Yadong, a spokesperson for the Ministry of Commerce (MOC), at a Thursday media briefing.The information requested included detailed battery components and formulation, as well as the production costs of EVs, purchase information for all EV parts and raw materials, sales channels and pricing methods, and information on customers in Europe, He said.

China Slams EU’s EV Anti-Subsidy Probe as ‘Disregarding’ WTO Rules 

Hong Kong

Geely Automobile Holdings Limited operates as a passenger vehicles manufacturing company. The Company provides passenger vehicles development, manufacturing, sales, and other services. Geely Automobile Holdings also exports passenger vehicles.

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Geely Auto (175 HK)

2024 High Conviction - Giant Biogene - Growth Rate Keeps Moving Higher

Giant Biogene was listed in Hong Kong IPO in 2022. It has done well since and is now trading 45% above its IPO price, but its still cheap.

Sumeet Singh

Geely Stalls As ZEEKR Spins Off

Geely's share price has largely swatted away the pending listing of ZEEKR. Trading around six and half year lows, and below its five average...

David Blennerhassett

Toyota Cross-Shareholding - To Say a Whole Lot Is Left Would Be a US$26bn Understatement

Toyota, Toyota Industries and Denso are tag teaming to unwind some of their stake in Aisin, in a deal worth over US$1bn. While the timing of the...

Sumeet Singh

Most of China’s Top Auto Suppliers Are Expanding Into Europe, Report Shows

Chinese suppliers of both auto hardware and software are following their carmaking clients overseas, particularly focusing on Europe and North...

Caixin Global

China Slams EU’s EV Anti-Subsidy Probe as ‘Disregarding’ WTO Rules

China has slammed the European Commission for requiring Chinese electric-vehicle (EV) and battery makers to provide additional information for its...

Caixin Global

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