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.

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of February 24th.</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 China Mobile, Tencent, Byd, China Construction Bank.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of February 24th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for China Mobile, Tencent, Byd, China Construction Bank.


Hong Kong Connect Flows (Feb 24th): China Mobile, Tencent, Byd, CCB

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Jiangsu Fangzhou Chemical / Equity Capital Markets

<ul>
<li>Fangzhou initially launched online retail pharmacy to address the needs of chronic disease patients, and then expand to online chronic disease management. However,the investment logic of this business is problematic. </li>
<li>Due to the low willingness to pay/high acquisition cost of C-end patients, it is difficult to achieve large-scale profits. Developing To B business would be important for Fangzhou’s future development. </li>
<li>Either To B business or To C business, the key point is to accumulate/retain large physician resources, but Fangzhou hasn’t had “a panacea” in this regard.</li>
</ul>


Fangzhou initially launched online retail pharmacy to address the needs of chronic disease patients, and then expand to online chronic disease management. However,the investment logic of this business is problematic. 
Due to the low willingness to pay/high acquisition cost of C-end patients, it is difficult to achieve large-scale profits. Developing To B business would be important for Fangzhou’s future development. 
Either To B business or To C business, the key point is to accumulate/retain large physician resources, but Fangzhou hasn’t had “a panacea” in this regard.


Pre-IPO Fangzhou Group - The Business and the Concerns

China/Asia TMT

Shawn Yang

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>JD:JD is reported to launch “RMB10bn subsidy” channel in March(-)</li>
<li>241HK/6618HK:Shanxi stops allowing first medical consultation to be online, other provinces may follow suit(-)</li>
<li>1024HK:Kwai recruitment releases performance of serial New Spring Recruit Event（+）</li>
</ul>


JD:JD is reported to launch “RMB10bn subsidy” channel in March(-)
241HK/6618HK:Shanxi stops allowing first medical consultation to be online, other provinces may follow suit(-)
1024HK:Kwai recruitment releases performance of serial New Spring Recruit Event（+）


China TMT Update(Feb.20): JD.US, 241HK, 6618HK, 1024HK - JD Is Reported to Launch “RMB10bn Subsidy”

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

Alibaba Group Holding  / Equity Capital Markets

<ul>
<li>In this note, we will take a look at bookrunner performance for ASEAN IPOs from 2019-2022. </li>
<li>The following dataset includes all ASEAN IPOs above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of <strong>41 deals.</strong>
</li>
<li>The deals you see in this note are based on our historical IPO tracker. Feel free to drop us a message for additional information on any of these IPOs.</li>
</ul>


In this note, we will take a look at bookrunner performance for ASEAN IPOs from 2019-2022. 
The following dataset includes all ASEAN IPOs above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of 41 deals.

The deals you see in this note are based on our historical IPO tracker. Feel free to drop us a message for additional information on any of these IPOs.


Aequitas ASEAN IPOs Bookrunner Performance (2019-2022)

<ul>
<li>In this note, we will take a look at bookrunner performance for Indian IPOs from 2019-2022. </li>
<li>The following dataset includes all Indian IPOs above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of <strong>49 deals</strong>.</li>
<li>The deals you see in this note are based on our historical IPO tracker. Feel free to drop us a message for additional information on any of these IPOs.</li>
</ul>


In this note, we will take a look at bookrunner performance for Indian IPOs from 2019-2022. 
The following dataset includes all Indian IPOs above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of 49 deals.
The deals you see in this note are based on our historical IPO tracker. Feel free to drop us a message for additional information on any of these IPOs.


Aequitas India IPOs Bookrunner Performance (2019-2022)

China

Alibaba Health Information Technology Limited is an integrated healthcare information and content service provider. The Company uses product identification, authentication, and tracking system data for its healthcare information.

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Alibaba Health Information Tec (241 HK)

Hong Kong Connect Flows (Feb 24th): China Mobile, Tencent, Byd, CCB

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for China Mobile, Tencent, Byd, China Construction Bank.

Ke Yan, CFA, FRM

Pre-IPO Fangzhou Group - The Business and the Concerns

The 2C model of online medical care is hard to achieve large-scale profit. 2B is a breakthrough point. But Fangzhou has no perfect solution to...

Xinyao (Criss) Wang

China TMT Update(Feb.20): JD.US, 241HK, 6618HK, 1024HK - JD Is Reported to Launch “RMB10bn Subsidy”

JD is reported to launch “RMB10bn subsidy” channel in March; Shanxi stops allowing first medical consultation to be online; Kwai recruitment...

Blue Lotus Research Institute

Aequitas ASEAN IPOs Bookrunner Performance (2019-2022)

In this note, we will take a look at bookrunner performance for ASEAN IPOs from 2019-2022 which includes all ASEAN IPOs above US$100m, amounting...

Ethan Aw

Aequitas India IPOs Bookrunner Performance (2019-2022)

In this note, we will take a look at bookrunner performance for Indian IPOs from 2019-2022. This includes all Indian IPOs above US$100m for 2019...

Ethan Aw

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)