Information Technology Consultant

Ishita Jain

Thematic (Sector/Industry)

In today's digitized world, everything is connected and&nbsp;&nbsp;'smart' - our phones are packed with ever more functionality, we can surf the net directly from our TVs and our fitness trackers can dish out tons of metrics regarding our habits. Internet of things takes this one step further; by attaching sensors to every day and typically non-digital things, it promises&nbsp;to make everything around us 'smart'. This insight is an overview of the industry, its market potential and some thoughts on how to invest in it.

In today's digitized world, everything is connected and&nbsp;&nbsp;'smart' - our phones are packed with ever more functionality, we can surf the net directly from our TVs and our fitness trackers can dish out tons of metrics regarding our habits. Internet of things takes this one step further; by attaching sensors to every day and typically non-digital things, it promises&nbsp;to make everything around us 'smart'. This insight is an overview of the industry, its market potential and some thoughts on how to invest in it.

Investing in the Internet of Things (IoT)

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

China Energy Engineering / Equity Capital Markets

China Energy Engineering Corporation (CEEC) plans to raise US$1.8-2.0bn through its IPO. It&nbsp;has locked in twenty (mostly government affiliated) cornerstone investors, who will take up over 60% of the deal.We&nbsp;remain lukewarm about the IPO, given:<ul><li>The company's main expertise lie in designing and constructing fossil fuel plants,&nbsp;investment in which is flat lining</li><li>Overseas orders have been coming through thick and fast but don't seem to be flowing through as fast to revenue, and hence, overseas accounts for&nbsp;a smaller proportion of revenue</li><li>Valuation isn't demanding, but growth prospects remain dim</li><li>The deal scores a mixed score on our framework</li></ul>

China Energy Engineering Corporation (CEEC) plans to raise US$1.8-2.0bn through its IPO. It&nbsp;has locked in twenty (mostly government affiliated) cornerstone investors, who will take up over 60% of the deal.We&nbsp;remain lukewarm about the IPO, given:The company's main expertise lie in designing and constructing fossil fuel plants,&nbsp;investment in which is flat liningOverseas orders have been coming through thick and fast but don't seem to be flowing through as fast to revenue, and hence, overseas accounts for&nbsp;a smaller proportion of revenueValuation isn't demanding, but growth prospects remain dimThe deal scores a mixed score on our framework

Well past Its Prime - Domestic Growth Slowing, While Overseas Projects Remain Slow Moving

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Equity Bottom-Up

China Railway Construction Corp / Equity Bottom-Up

&nbsp;China Railway Construction Corp, or CRCC, reported mixed results for the year to Sept. 30 that fell around 10% short of our original revenue and net profit estimates. The miss was driven by slower-than-expected commencements in new infrastructure projects, in addition to a sharp decline in new overseas contracts wins.We continue to believe that CRCC&rsquo;s 2016-17 growth prospects remain intact, as the government has rolled out more infrastructure projects to help stimulate the economy. We maintain our fair value estimate of HKD 11, along with our very high uncertainty rating, and we consider the current share price to be fairly valued.Our nomoat rating remains unchanged, underpinned by fierce competition that leaves CRCC with little pricing power.Analyst:&nbsp;John Hu

&nbsp;China Railway Construction Corp, or CRCC, reported mixed results for the year to Sept. 30 that fell around 10% short of our original revenue and net profit estimates. The miss was driven by slower-than-expected commencements in new infrastructure projects, in addition to a sharp decline in new overseas contracts wins.We continue to believe that CRCC&rsquo;s 2016-17 growth prospects remain intact, as the government has rolled out more infrastructure projects to help stimulate the economy. We maintain our fair value estimate of HKD 11, along with our very high uncertainty rating, and we consider the current share price to be fairly valued.Our nomoat rating remains unchanged, underpinned by fierce competition that leaves CRCC with little pricing power.Analyst:&nbsp;John Hu

CRCC Reported Mixed Q3 2015 result; FVE Maintained at HKD 11

China Railway Group Ltd H / Equity Bottom-Up

<ul><li>China Railway Group, or CRG, and China Railway Erju, or Erju, which is 49% owned by CRG, announced their preliminary reorganisation plan.</li><li>CRG will swap its equipment and component manufacturing operation for Erju's existing business.</li><li>The companies have not yet finalised the scope of assets involved, but CRG has stated that no additional share issuance is required for this transaction.</li><li>In our view, this marks the beginning of a new wave of State-Owned Enterprise reform, and we are likely to see more assets swap/injection and mergers among key SOEs in the near future.</li></ul>Analyst: John HuFull report below the fold....&nbsp;

China Railway Group, or CRG, and China Railway Erju, or Erju, which is 49% owned by CRG, announced their preliminary reorganisation plan.CRG will swap its equipment and component manufacturing operation for Erju's existing business.The companies have not yet finalised the scope of assets involved, but CRG has stated that no additional share issuance is required for this transaction.In our view, this marks the beginning of a new wave of State-Owned Enterprise reform, and we are likely to see more assets swap/injection and mergers among key SOEs in the near future.Analyst: John HuFull report below the fold....&nbsp;

New Asset Swap Plan Provides Earnings Accretion

China, land of coal and smog, is now increasing the generation of electricity from renewable sources faster than any other country, with more than 100 GWs a year of installed generating capacity from wind, a third of the world&rsquo;s total. Generating capacity is up tenfold in the last decade and three of the world&rsquo;s top ten turbine manufacturers are Chinese. Xinjiang&nbsp;Goldwind, the world&rsquo;s second largest wind turbine maker, seems poised to continue its growth story and be instrumental in shaping the Chinese wind energy market.

China, land of coal and smog, is now increasing the generation of electricity from renewable sources faster than any other country, with more than 100 GWs a year of installed generating capacity from wind, a third of the world&rsquo;s total. Generating capacity is up tenfold in the last decade and three of the world&rsquo;s top ten turbine manufacturers are Chinese. Xinjiang&nbsp;Goldwind, the world&rsquo;s second largest wind turbine maker, seems poised to continue its growth story and be instrumental in shaping the Chinese wind energy market.

Flying along China's wind of change: Goldwind

China

China Railway Group Ltd. offers transportation systems construction services. The Company builds railroads, roads, tunnels, and bridges.

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China Railway Group Ltd H (390 HK)

Investing in the Internet of Things (IoT)

In today's digitized world, everything is connected and 'smart' - our phones are packed with ever more functionality, we can surf the net directly...

Ishita Jain

Well past Its Prime - Domestic Growth Slowing, While Overseas Projects Remain Slow Moving

China Energy Engineering Corporation (CEEC) plans to raise US$1.8-2.0bn through its IPO. It has locked in twenty (mostly government affiliated)...

Sumeet Singh

CRCC Reported Mixed Q3 2015 result; FVE Maintained at HKD 11

China Railway Construction Corp, or CRCC, reported mixed results for the year to Sept. 30 that fell around 10% short of our original revenue and...

Morningstar, Inc.

New Asset Swap Plan Provides Earnings Accretion

China Railway Group, or CRG, and China Railway Erju, or Erju, which is 49% owned by CRG, announced their preliminary reorganisation plan. CRG will...

Morningstar, Inc.

Flying along China's wind of change: Goldwind

China, land of coal and smog, is now increasing the generation of electricity from renewable sources faster than any other country, with more than...

Ishita Jain

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