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 Capital Markets

Blue Moon Group Holdings / Equity Capital Markets

<ul>
<li>We visited RT-Mart in Shanghai.</li>
<li>We noticed that no brand takes an exclusive shelf.</li>
<li>We also notice that all brands imitate others’ products.</li>
<li>We believe there is no entry barrier but severe competition in the detergent market.</li>
</ul>


We visited RT-Mart in Shanghai.
We noticed that no brand takes an exclusive shelf.
We also notice that all brands imitate others’ products.
We believe there is no entry barrier but severe competition in the detergent market.


Blue Moon: No. 1 But No Exclusive Advantage, Observation on the Ground

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<p><a href="https://www.smartkarma.com/entities/guangzhou-blue-moon-industry-co-ltd" target="_blank" data-smartkarma-citation="entities:29179:1" rel="noopener">Blue Moon Group Holdings (BMG HK)</a> is a leading consumer household care company in China. In 2019, Blue Moon ranked first in China’s liquid laundry detergent market, concentrated liquid laundry detergent market and liquid soap market as measured by retail sales value, with a market share of 24.4%, 27.9% and 17.4%, respectively, according to Frost &amp; Sullivan. It has filed for a Hong Kong IPO to raise $1 billion, according to press reports.</p><div class="content-highlight"><p>On balance we think the positives (market-leading brand, strong margin progression, solid cash generation) outweigh the negatives (declining revenue growth and short-term COVID-19 impact). Consequently, Blue Moon’s fundamentals are attractive, in our view.</p></div>

Blue Moon Group Holdings (BMG HK) is a leading consumer household care company in China. In 2019, Blue Moon ranked first in China’s liquid laundry detergent market, concentrated liquid laundry detergent market and liquid soap market as measured by retail sales value, with a market share of 24.4%, 27.9% and 17.4%, respectively, according to Frost &amp; Sullivan. It has filed for a Hong Kong IPO to raise $1 billion, according to press reports.On balance we think the positives (market-leading brand, strong margin progression, solid cash generation) outweigh the negatives (declining revenue growth and short-term COVID-19 impact). Consequently, Blue Moon’s fundamentals are attractive, in our view.

China

Blue Moon Group Holdings Limited operates as a household care company. The Company produces liquid laundry detergents, liquid soaps, concentrated liquid laundry detergents, and other products. Blue Moon Group Holdings markets its products throughout China.

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Blue Moon Group Holdings (6993 HK)

Blue Moon: No. 1 But No Exclusive Advantage, Observation on the Ground

We visited RT-Mart in Shanghai. We noticed that no brand takes an exclusive shelf. We also notice that all brands imitate others’ products. We...

Ming Lu

Blue Moon IPO Initiation: Laundry List

Blue Moon Group Holdings (BMG HK) is a leading consumer household care company in China. In 2019, Blue Moon ranked first in China’s liquid laundry...

Arun George

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