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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

Cross Asset Strategy

<ul><li>In Depth: China’s fintech plan part two puts data, risk control in driving seat</li><li>China considers ‘China-style’ strategy to coexist with Covid, top disease experts say</li><li>Analysis: China’s CIPS won’t rescue Russian banks from SWIFT ban</li></ul>

In Depth: China’s fintech plan part two puts data, risk control in driving seatChina considers ‘China-style’ strategy to coexist with Covid, top disease experts sayAnalysis: China’s CIPS won’t rescue Russian banks from SWIFT ban

CX Daily: China’s CIPS Won’t Rescue Russian Banks from SWIFT Ban

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

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>The stock price plunged further after the news about layoff.</li>
<li>We believe this is not an opportunity to buy the stock.</li>
<li>We believe no manager can deal with the business environment that IQ faces.</li>
</ul>


The stock price plunged further after the news about layoff.
We believe this is not an opportunity to buy the stock.
We believe no manager can deal with the business environment that IQ faces.


IQiyi (IQ): Plunge After Layoff News, Not Opportunity at All

Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

<ul>
<li>Cloud Village raised net proceeds of HK$3,124m (US$406.1m) at HK$205 per share, which is the midpoint of the IPO price range of HK$190-220 per share.</li>
<li>At the IPO price of HK$205 per share, CV will have a market capitalisation of HK$42.6bn and a post-money EV of HK$34.5bn.</li>
<li>The HK offer and the international offer were oversubscribed by 8.92x and 1.7x respectively. Cornerstone investment accounted for 83.15% of the total shares offered at the IPO.</li>
</ul>


Cloud Village raised net proceeds of HK$3,124m (US$406.1m) at HK$205 per share, which is the midpoint of the IPO price range of HK$190-220 per share.
At the IPO price of HK$205 per share, CV will have a market capitalisation of HK$42.6bn and a post-money EV of HK$34.5bn.
The HK offer and the international offer were oversubscribed by 8.92x and 1.7x respectively. Cornerstone investment accounted for 83.15% of the total shares offered at the IPO.


Cloud Village IPO: Thoughts on First Day Trading

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>Cloud Village Inc. (CVI), also known as NetEase Music, raised around US$420m in its Hong Kong IPO.</li>
<li>The company has obtained investments from Baidu and Alibaba, along with other investors.</li>
<li>In this note, we will talk about the trading dynamics.</li>
</ul>


Cloud Village Inc. (CVI), also known as NetEase Music, raised around US$420m in its Hong Kong IPO.
The company has obtained investments from Baidu and Alibaba, along with other investors.
In this note, we will talk about the trading dynamics.


Cloud Village (NetEase Music) IPO Trading - One of the Lowest Insti Subscriptions Yet

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cloud-village-inc" target="_blank" data-smartkarma-citation="entities:33412:1" rel="noopener">Cloud Village (CLV HK)</a> has announced the terms for its IPO where it plans to issue 16m shares at an indicative IPO price range of HK$190-220 per share.</li>
<li>At the midpoint of HK$205 per share, the company will raise net proceeds of HK$3.1bn (approx. US$406m) at a market capitalisation of HK$42.6bn and post-money EV of HK$34.5bn</li>
<li>Cornerstone investors have agreed to subscribe for approx. US$350m worth of IPO shares which accounts for about 83.15% of the total no. of shares offered at the IPO (excl. over-allotment).</li>
</ul>



Cloud Village (CLV HK) has announced the terms for its IPO where it plans to issue 16m shares at an indicative IPO price range of HK$190-220 per share.
At the midpoint of HK$205 per share, the company will raise net proceeds of HK$3.1bn (approx. US$406m) at a market capitalisation of HK$42.6bn and post-money EV of HK$34.5bn
Cornerstone investors have agreed to subscribe for approx. US$350m worth of IPO shares which accounts for about 83.15% of the total no. of shares offered at the IPO (excl. over-allotment).


Cloud Village IPO: Peer Comparison and Valuation

China

iQIYI, Inc. offers video entertainment services. The Company provides movies, television dramas, variety shows, and other video contents. iQIYI offers services worldwide.

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iQIYI Inc (IQ US)

CX Daily: China’s CIPS Won’t Rescue Russian Banks from SWIFT Ban

In Depth: China’s fintech plan part two puts data, risk control in driving seat. China considers ‘China-style’ strategy to coexist with Covid, top...

Caixin Global

IQiyi (IQ): Plunge After Layoff News, Not Opportunity at All

The stock price plunged further after the news about layoff. We do not believe this is an opportunity to buy the stock. We believe no manager can...

Ming Lu

Cloud Village IPO: Thoughts on First Day Trading

CV raised net proceeds of HK$3,124m (US$406.1m) at HK$205 per share, which is the midpoint of the IPO price range. CV's IPO is overvalued and we...

Shifara Samsudeen, ACMA, CGMA

Cloud Village (NetEase Music) IPO Trading - One of the Lowest Insti Subscriptions Yet

Cloud Village Inc. (CVI), also known as NetEase Music, raised around US$420m in its Hong Kong IPO. In this note, we will talk about the trading...

Sumeet Singh

Cloud Village IPO: Peer Comparison and Valuation

Cloud Village plans to raise net proceeds of around US$400m and our analysis shows that the company's IPO is priced on the expensive side and is...

Shifara Samsudeen, ACMA, CGMA

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