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 Capital Markets

Lalatech Holdings Co Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lalatech-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:36848:1" rel="noopener">Lalatech Holdings Co Ltd (LALA HK)</a>  is looking to raise about US$1bn in its upcoming HK IPO.</li>
<li>Lalatech operates via a marketplace model serving merchants and carriers. Its platform facilitates closed-loop transactions from online shipping order booking to intelligent order matching, and automated dispatching to after-sale services.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Lalatech Holdings Co Ltd (LALA HK)  is looking to raise about US$1bn in its upcoming HK IPO.
Lalatech operates via a marketplace model serving merchants and carriers. Its platform facilitates closed-loop transactions from online shipping order booking to intelligent order matching, and automated dispatching to after-sale services.
In this note, we talk about the not-so-positive aspects of the deal.


Lalatech Holdings Limited Pre-IPO - The Negatives - Has Raised a Lot of Money, so Has the Founder

Anta Sports Products / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/anta-sports-products-ltd" target="_blank" data-smartkarma-citation="entities:10261:1" rel="noopener">Anta Sports Products (2020 HK)</a>  aims to raise around US$1.5bn in its top-up placement. </li>
<li>Anta hasn’t specified what it aims to do with the money that it's looking to raise, furthermore, it's already net cash.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>



Anta Sports Products (2020 HK)  aims to raise around US$1.5bn in its top-up placement. 
Anta hasn’t specified what it aims to do with the money that it's looking to raise, furthermore, it's already net cash.
In this note, we will talk about the placement and run the deal through our ECM framework.


Anta Sports Placement - A Large Deal to Digest with Unknown Use of Proceeds but Track Record Is Good

Technical Analysis / Chartered Market Technician, The Markets Academy

David Coloretti, CMT

Technical Analysis / Chartered Market Technician

The Markets Academy

TMA implements 2 strategies. 1) Tactical ... Trend Sustainability Score (TSS) allows TMA to identify exhaustion / reversal points in interim trends by utilising our proprietary analysis of ST momentum indicators. 2) Medium Term ... our 3 Pillars approach to technical analysis allows TMA to determine high probability medium term outcomes in markets.

Technical Analysis

Hang Seng China Enterprises Index / Technical Analysis

<ul>
<li>At TMA we deliver high probability outcomes by focusing on our 3 pillars of technical analysis. 1) Response to key levels. 2) Price action. 3) Momentum confirmation.</li>
<li>A prominent bottom below 5000 in Q4 2022 set up an impulsive multi-month uptrend and LT uptrend bias. Our 2023 target at 9450/70 reflects this major bottom.</li>
<li>2023 has delivered a tangible downward correction. Since mid-February a Head and Shoulders Bottom has formed. A break above the neckline at 7085 targets 7770/80 in Q2 2023.</li>
</ul>


At TMA we deliver high probability outcomes by focusing on our 3 pillars of technical analysis. 1) Response to key levels. 2) Price action. 3) Momentum confirmation.
A prominent bottom below 5000 in Q4 2022 set up an impulsive multi-month uptrend and LT uptrend bias. Our 2023 target at 9450/70 reflects this major bottom.
2023 has delivered a tangible downward correction. Since mid-February a Head and Shoulders Bottom has formed. A break above the neckline at 7085 targets 7770/80 in Q2 2023.


Hang Seng CEI (HSCEI) - Pending Confirmation of Bullish Breakout and Textbook 7770/80 Q2 2023 Target

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zjld-group" target="_blank" data-smartkarma-citation="entities:36734:1" rel="noopener">ZJLD Group (ZJLD HK)</a> is looking to raise around US$811m in its Hong Kong IPO.</li>
<li>ZJLD Group (ZJLD) is a Chinese liquor company primarily producing baijiu.</li>
<li>In this note, we will look at deal dynamics and share our thoughts on valuation.</li>
</ul>



ZJLD Group (ZJLD HK) is looking to raise around US$811m in its Hong Kong IPO.
ZJLD Group (ZJLD) is a Chinese liquor company primarily producing baijiu.
In this note, we will look at deal dynamics and share our thoughts on valuation.


ZJLD Group IPO - Sentiment Could See a Positive Shift, Mid-Bottom End Digestible

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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 14th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Sensetime, Semiconductor Manufacturing International, Cnooc, China Mobile, Tencent, Meituan, Kuaishou Technology.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 14th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Sensetime, Semiconductor Manufacturing International, Cnooc, China Mobile, Tencent, Meituan, Kuaishou Technology.


Hong Kong Connect Flows (Apr 14th): Sensetime, SMIC, Cnooc, China Mobile, Tencent, Meituan, Kuaishou

China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Tencent (700 HK)

Lalatech Holdings Limited Pre-IPO - The Negatives - Has Raised a Lot of Money, so Has the Founder

Lalatech Holdings is looking to raise about US$1bn in its upcoming HK IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

Anta Sports Placement - A Large Deal to Digest with Unknown Use of Proceeds but Track Record Is Good

Anta Sports Products (2020 HK) aims to raise around US$1.5bn in its top-up placement. In this note, we talk about the deal dynamics and run the...

Sumeet Singh

Hang Seng CEI (HSCEI) - Pending Confirmation of Bullish Breakout and Textbook 7770/80 Q2 2023 Target

30+ years as a technical analyst and a razor sharp focus on momentum confirmation delivered TMA a 75% unleveraged return on our 7 Smartkarma...

David Coloretti, CMT

ZJLD Group IPO - Sentiment Could See a Positive Shift, Mid-Bottom End Digestible

ZJLD Group (ZJLD HK) is looking to raise around US$811m in its Hong Kong IPO. In this note, we will look at deal dynamics and share our thoughts on...

Clarence Chu

Hong Kong Connect Flows (Apr 14th): Sensetime, SMIC, Cnooc, China Mobile, Tencent, Meituan, Kuaishou

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Sensetime, SMIC, Cnooc, China Mobile, Tencent, Meituan,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)