JD Health 1H2023: Reports Operating Profits; Margin Upside Is Very Limited
Though JD Health made an OPM of 5.7% in 1Q2023, 1H2023 OPM was 3.5% in line with our analysis that OPM in excess of 2-3% may not be possible in the...
406 Views
LianLian Digitech Pre-IPO - Declining Profitability with No End in Sight Just Yet
Lianlian DigiTech (2104619D CH) is looking to raise up to US$500m in its upcoming HK IPO. Lianlian’s digital payments segment has historically been...
1.6k Views
SoCar Lock-Up - Close to All-Time Low but Can Expect Some Post-Lockup Selling
SOCAR's (403550 KS) one-year lockup will expire on 21st Aug 2023. In this note, we will talk about the lock-up dynamics and updates since our last...
277 Views
TVS Supply Chain Solutions IPO - RHP Updates, Peer Comparison & Thoughts on Valuation
TVS Supply Chain Solutions (1915741D IN) is looking to raise up to US$110m in its India IPO, after downsizing from an earlier float of up to US$500m.
402 Views
Pre-IPO HealthyWay - The Business Model Lacks Core Competitiveness
HealthyWay's model is essentially an intermediary business.The seemingly abundant resources may not necessarily transform into substantial revenue...
314 Views