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>Chindata (CD) is the leading carrier-neutral hyperscale data center solution provider in Asia Pacific emerging markets and the company focuses on China, India and Southeast Asian markets.</li>
<li>According to Frost &amp; Sullivan, Chindata was ranked first in the carrier-neutral hyperscale data center market in Asia-Pacific emerging markets in terms of capacity in service, with a 21.5% market share (as of December 2019).</li>
<li>The company operates six hyperscale data centers in China and one data center in Malaysia and is in the process of constructing five data centers in China and one data center in India as of the date of the IPO prospectus.</li>
<li>The company has filed for an IPO in the US and has a placeholder indication to raise up to US$400m and plans to use approximately 70% of the IPO proceeds on the development and construction of new data center projects. </li>
</ul>


Chindata (CD) is the leading carrier-neutral hyperscale data center solution provider in Asia Pacific emerging markets and the company focuses on China, India and Southeast Asian markets.
According to Frost &amp; Sullivan, Chindata was ranked first in the carrier-neutral hyperscale data center market in Asia-Pacific emerging markets in terms of capacity in service, with a 21.5% market share (as of December 2019).
The company operates six hyperscale data centers in China and one data center in Malaysia and is in the process of constructing five data centers in China and one data center in India as of the date of the IPO prospectus.
The company has filed for an IPO in the US and has a placeholder indication to raise up to US$400m and plans to use approximately 70% of the IPO proceeds on the development and construction of new data center projects. 


Chindata IPO: Making Good Progress but Challenges Ahead

<ul>
<li>Boqii is one of the largest pet-focused platforms in China who offers a one-stop destination for pet parents to get everything they need for their pets including pet food, toys, vitamins and toiletries. The company operates an online platform as well as an offline retail network.</li>
<li>The company has filed for an IPO in the US and has a placeholder indication to raise US$115m and plans to use part of the IPO proceeds on further enhancing content, R&amp;D, big data technology and develop private label brands.</li>
<li>China’s pet economy is still in its infant stages as the market is significantly underpenetrated and this presents a huge potential for industry participants. The young millennials are driving the growth in the market and the pet goods retail market is shifting largely towards online channels in the country.</li>
<li>Boqii earns a majority of its revenue through online platforms (self-operated Boqii Mall and other third-party platforms) and at the same time, the third-party platforms bring in almost two-third of the company’s revenues.</li>
<li>The online pet good retail market in China is highly competitive and are dominated by large and established online retail platforms, including generic e-commerce platforms.</li>
<li>In this insight, we examine the company’s business model, the industry and the revenue channels. Boqii is the largest pet-focused online retail platform in China and the company has taken several initiatives including M&amp;A deals to expand its presence in the market. The company is operating in a growing market and it seems that the company has a strong business model.</li>
<li>In a follow-up insight, we will be discussing the company’s financials (revenue, margins and balance sheet) in detail.</li>
</ul>


Boqii is one of the largest pet-focused platforms in China who offers a one-stop destination for pet parents to get everything they need for their pets including pet food, toys, vitamins and toiletries. The company operates an online platform as well as an offline retail network.
The company has filed for an IPO in the US and has a placeholder indication to raise US$115m and plans to use part of the IPO proceeds on further enhancing content, R&amp;D, big data technology and develop private label brands.
China’s pet economy is still in its infant stages as the market is significantly underpenetrated and this presents a huge potential for industry participants. The young millennials are driving the growth in the market and the pet goods retail market is shifting largely towards online channels in the country.
Boqii earns a majority of its revenue through online platforms (self-operated Boqii Mall and other third-party platforms) and at the same time, the third-party platforms bring in almost two-third of the company’s revenues.
The online pet good retail market in China is highly competitive and are dominated by large and established online retail platforms, including generic e-commerce platforms.
In this insight, we examine the company’s business model, the industry and the revenue channels. Boqii is the largest pet-focused online retail platform in China and the company has taken several initiatives including M&amp;A deals to expand its presence in the market. The company is operating in a growing market and it seems that the company has a strong business model.
In a follow-up insight, we will be discussing the company’s financials (revenue, margins and balance sheet) in detail.


Boqii IPO: Another Pet Humanization Stock in a Booming Market Led by Large E-Commerce Platforms

China

Boqii Holding Limited opeates as a holding company. The Company, through its subsidiaries, retails pet related products such as pet foods and accessories. Boqii Holding serves customers in China.

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

Boqii Holding (BQ US)

Chindata IPO: Making Good Progress but Challenges Ahead

Chindata (CD) is the leading carrier-neutral hyperscale data center solution provider in Asia Pacific emerging markets and the company focuses on...

Shifara Samsudeen, ACMA, CGMA

Boqii IPO: Another Pet Humanization Stock in a Booming Market Led by Large E-Commerce Platforms

Boqii is one of the largest pet-focused platforms in China who offers a one-stop destination for pet parents to get everything they need for their...

Shifara Samsudeen, ACMA, CGMA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)