Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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

REPT BATTERO Energy / Equity Capital Markets

<ul>
<li>REPT BATTERO Energy (REPT HK) is looking to raise US$1bn in its upcoming Hong Kong IPO.</li>
<li>REPT BATTERO Energy (REPT) is a lithium-ion battery manufacturer in China, focusing on R&amp;D, production, and sales of EV/ESS lithium-ion battery products such as battery cells, modules and packs. </li>
<li>In this note, we will talk about the not-so-positive aspects of the deal.</li>
</ul>


REPT BATTERO Energy (REPT HK) is looking to raise US$1bn in its upcoming Hong Kong IPO.
REPT BATTERO Energy (REPT) is a lithium-ion battery manufacturer in China, focusing on R&amp;D, production, and sales of EV/ESS lithium-ion battery products such as battery cells, modules and packs. 
In this note, we will talk about the not-so-positive aspects of the deal.


REPT BATTERO Energy Pre-IPO - The Negatives - Is Only Now Aiming for Sustainable Profits

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>We screen for companies that are at record positioning among active Asia Ex-Japan managers, whilst capturing strong investment growth over the last 6-months.</li>
<li>9 companies stand out, led by <a href="https://www.smartkarma.com/entities/yum-china-holdings-inc" target="_blank" data-smartkarma-citation="entities:23677:1" rel="noopener">Yum China Holdings, Inc (YUMC US)</a>  and <a href="https://www.smartkarma.com/entities/glodon-company-limited-a" target="_blank" data-smartkarma-citation="entities:10536:1" rel="noopener">Glodon Company Limited A (002410 CH)</a> </li>
<li>These 9 stocks have accelerated to a record combined weight of 3.04%.  The rate of increase has been remarkable, with average weights doubling since the end of March 2022.  </li>
</ul>


We screen for companies that are at record positioning among active Asia Ex-Japan managers, whilst capturing strong investment growth over the last 6-months.
9 companies stand out, led by Yum China Holdings, Inc (YUMC US)  and Glodon Company Limited A (002410 CH) 
These 9 stocks have accelerated to a record combined weight of 3.04%.  The rate of increase has been remarkable, with average weights doubling since the end of March 2022.  


Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of February 10th.</li>
<li>We estimate the weekly inflows to be US$456.0 million, led by financials, information technology, utilities sectors, and offset by materials, consumer discretionary.</li>
<li>We highlight flows for Ping An Insurance, Contemporary Amperex Technology, Kweichow Moutai, Luzhou Lao Jiao, Hundsun Technologies, Byd, Midea, Tongwei, Trina Solar</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of February 10th.
We estimate the weekly inflows to be US$456.0 million, led by financials, information technology, utilities sectors, and offset by materials, consumer discretionary.
We highlight flows for Ping An Insurance, Contemporary Amperex Technology, Kweichow Moutai, Luzhou Lao Jiao, Hundsun Technologies, Byd, Midea, Tongwei, Trina Solar


Northbound Flows (Feb 10th): Ping An Insurance, CATL, Moutai, Luzhou Lao Jiao, Hundsun

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Feb 3rd.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Bidu, Manulife, Mengniu Dairy, CDF, Tencent, Baba, Anta Sports, Wuxi Bio.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Feb 3rd.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Bidu, Manulife, Mengniu Dairy, CDF, Tencent, Baba, Anta Sports, Wuxi Bio.


HK Short Interest Weekly: Short Covers for Tencent, Baba, Anta, Wuxi Biologics

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

Event-Driven

Contemporary Amperex Technology (CATL) / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/contemporary-amperex-techn-a" target="_blank" data-smartkarma-citation="entities:24404:1" rel="noopener">CATL (A) (300750 CH)</a> is looking to raise up to US$6bn in its upcoming Swiss GDR listing. Bookrunners on the deal are CICC, China Securities, Goldman Sachs, and UBS.</li>
<li>The relatively large listing comes after the firm has been undertaking a series of capital raisings, since it's A-share debut back in Jun 2018, to fund its expansion. </li>
<li>In this note, we discuss GDR timelines, and the firm’s recent financial performance/valuations.</li>
</ul>



CATL (A) (300750 CH) is looking to raise up to US$6bn in its upcoming Swiss GDR listing. Bookrunners on the deal are CICC, China Securities, Goldman Sachs, and UBS.
The relatively large listing comes after the firm has been undertaking a series of capital raisings, since it's A-share debut back in Jun 2018, to fund its expansion. 
In this note, we discuss GDR timelines, and the firm’s recent financial performance/valuations.


CATL GDR Listing Early Look - Past Deals Have Done Well. Valuations Somewhat Justifiable

China

BYD Company Limited manufactures automotive products. The Company produces ordinary passenger cars, commercial vehicles, and other products. BYD also operates battery making, rail transportation construction, and other businesses.

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

BYD (002594 CH)

REPT BATTERO Energy Pre-IPO - The Negatives - Is Only Now Aiming for Sustainable Profits

REPT BATTERO Energy (REPT HK) is looking to raise US$1bn in its upcoming Hong Kong IPO. In this note we talk about the not-so-positive aspects of...

Sumeet Singh

Asia Ex-Japan's Rising Stars

We screen for companies in the Asia Ex-Japan region that are not widely held but are at record levels of ownership among actively managed funds.

Steven Holden

Northbound Flows (Feb 10th): Ping An Insurance, CATL, Moutai, Luzhou Lao Jiao, Hundsun

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Ping An Insurance, CATL, Moutai, Luzhou Lao Jiao,...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Short Covers for Tencent, Baba, Anta, Wuxi Biologics

We analyzed the latest HK SFC report for aggregate short position as of Feb 3rd and highlight short interest changes in Bidu, Manulife, Mengniu...

Ke Yan, CFA, FRM

CATL GDR Listing Early Look - Past Deals Have Done Well. Valuations Somewhat Justifiable

CATL (A) (300750 CH) is looking to raise up to US$6bn in its upcoming Swiss GDR listing. Bookrunners on the deal are CICC, China Securities,...

Clarence Chu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)