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

China Tourism Group Duty Free / Equity Capital Markets

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>On the IPO front, China Tourism's listing appears to have set the ball rolling for others to follow.</li>
<li>After a flurry of activity in the prior week, there weren't any major placements this week.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
On the IPO front, China Tourism's listing appears to have set the ball rolling for others to follow.
After a flurry of activity in the prior week, there weren't any major placements this week.


ECM Weekly (28th Aug 2022) - China Tourism, BA REIT, Hongjiu Fruit, YH Ent, Biocyto, WM, APM, Daiwa

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

Chongqing Hongjiu Fruit   / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/chongqing-hongjiu-fruit" target="_blank" data-smartkarma-citation="entities:36023:1" rel="noopener">Chongqing Hongjiu Fruit (6689 HK)</a> is looking to raise up to US$93m in its HK IPO.</li>
<li>Chongqing Hongjiu Fruit (CHJF) is a multi-brand fresh fruit distributor in China with an end-to-end supply chain. They have 1.0% market share as China's second largest fruit distributor</li>
<li>CHJF had grown at an impressive rate even in the face of COVID-19. In this note, we will take a look at its valuations vs that of listed peers.</li>
</ul>



Chongqing Hongjiu Fruit (6689 HK) is looking to raise up to US$93m in its HK IPO.
Chongqing Hongjiu Fruit (CHJF) is a multi-brand fresh fruit distributor in China with an end-to-end supply chain. They have 1.0% market share as China's second largest fruit distributor
CHJF had grown at an impressive rate even in the face of COVID-19. In this note, we will take a look at its valuations vs that of listed peers.


Chongqing Hongjiu Fruit IPO - Not Fully Convinced but Appears Cheap on the Low End

China Tourism Group Duty Free Corp Ltd / Equity Capital Markets

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>On the IPO front, China Tourism launched its US$2.5bn IPO. </li>
<li>There were no major placements this week and it likely to remain that way in the near future owing to it being earnings season.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
On the IPO front, China Tourism launched its US$2.5bn IPO. 
There were no major placements this week and it likely to remain that way in the near future owing to it being earnings season.


ECM Weekly (14th Aug 2022) - China Tourism, A/H Listing, Hongjiu Fruit, Socar, Betagro, ThaiBev, GQG

<ul>
<li>
<a href="https://www.smartkarma.com/entities/chongqing-hongjiu-fruit" target="_blank" data-smartkarma-citation="entities:36023:1" rel="noopener">Chongqing Hongjiu Fruit (CHF HK)</a> is looking to raise up to US$300m in its upcoming Hong Kong IPO. </li>
<li>Chongqing Hongjiu Fruit (CHJF) is a multi-brand fresh fruit distributor in China with an end-to-end supply chain. They have 1.0% market share as China's second largest fruit distributor.</li>
<li>CHJF had grown at an impressive rate even in the face of COVID-19. In this note, we will undertake a peer comparison of CHJF with its listed peers.</li>
</ul>



Chongqing Hongjiu Fruit (CHF HK) is looking to raise up to US$300m in its upcoming Hong Kong IPO. 
Chongqing Hongjiu Fruit (CHJF) is a multi-brand fresh fruit distributor in China with an end-to-end supply chain. They have 1.0% market share as China's second largest fruit distributor.
CHJF had grown at an impressive rate even in the face of COVID-19. In this note, we will undertake a peer comparison of CHJF with its listed peers.


Chongqing Hongjiu Fruit IPO - Peer Comparison & Valuations - Growth & Margins Stand Out Among Peers

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.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/chongqing-hongjiu-fruit" target="_blank" data-smartkarma-citation="entities:36023:1" rel="noopener">Chongqing Hongjiu Fruit (CHF HK)</a>  focuses on managing the entire supply chain for quality fruits grown in China, Thailand and Vietnam.</li>
<li>The company has a portfolio of 49 fruit categories and has filed for an IPO on HKEx and plans to raise proceeds of US$300m.</li>
<li>CHF's earnings growth is slowing down while margins are trending downwards and the company’s cashflow burn is increasing</li>
</ul>



Chongqing Hongjiu Fruit (CHF HK)  focuses on managing the entire supply chain for quality fruits grown in China, Thailand and Vietnam.
The company has a portfolio of 49 fruit categories and has filed for an IPO on HKEx and plans to raise proceeds of US$300m.
CHF's earnings growth is slowing down while margins are trending downwards and the company’s cashflow burn is increasing


Chongqing Hongjiu Fruit IPO: Not Very Fruitful

China

Chongqing Hongjiu Fruit Co., Limited operates fresh fruit wholesale businesses. The Company distributes durian, mangosteen, longan, dragon fruit, cherry and grapes  and other products. Chongqing Hongjiu Fruit conducts businesses in China.

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Chongqing Hongjiu Fruit (6689 HK)

ECM Weekly (28th Aug 2022) - China Tourism, BA REIT, Hongjiu Fruit, YH Ent, Biocyto, WM, APM, Daiwa

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Chongqing Hongjiu Fruit IPO - Not Fully Convinced but Appears Cheap on the Low End

Chongqing Hongjiu Fruit (6689 HK) is looking to raise up to US$93m in its HK IPO. In this note, we will take a look at its valuations vs that of...

Ethan Aw

ECM Weekly (14th Aug 2022) - China Tourism, A/H Listing, Hongjiu Fruit, Socar, Betagro, ThaiBev, GQG

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Chongqing Hongjiu Fruit IPO - Peer Comparison & Valuations - Growth & Margins Stand Out Among Peers

Chongqing Hongjiu Fruit (CHF HK) is looking to raise up to US$300m in its upcoming Hong Kong IPO. In this note, we will undertake a peer...

Ethan Aw

Chongqing Hongjiu Fruit IPO: Not Very Fruitful

Our analysis on CHF’s financials reveals that the company’s earnings growth is slowing down while margins are trending downwards and the company’s...

Shifara Samsudeen, ACMA, CGMA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)