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.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vinfast" target="_blank" data-smartkarma-citation="entities:36550:1" rel="noopener">VinFast (1905332D VN)</a>, a Vietnamese EV (electric vehicle) manufacturer and a majority-owned affiliate of <a href="https://www.smartkarma.com/entities/vingroup-jsc" target="_blank" data-smartkarma-citation="entities:13213:1" rel="noopener">Vingroup Jsc (VIC VN)</a>, has filed for a US$1.0 billion IPO to list on Nasdaq.</li>
<li>VinFast is in the middle of a transition from an ICE to a pure-play EV manufacturer. VF 8, its second EV SUV, will be delivered in the US in 4Q22. </li>
<li>The key elements of the bull case rest on a credible EV roadmap, speed-to-market, solid consumer interest and models with attractive range-to-price ratios and total cost of ownership.</li>
</ul>



VinFast (1905332D VN), a Vietnamese EV (electric vehicle) manufacturer and a majority-owned affiliate of Vingroup Jsc (VIC VN), has filed for a US$1.0 billion IPO to list on Nasdaq.
VinFast is in the middle of a transition from an ICE to a pure-play EV manufacturer. VF 8, its second EV SUV, will be delivered in the US in 4Q22. 
The key elements of the bull case rest on a credible EV roadmap, speed-to-market, solid consumer interest and models with attractive range-to-price ratios and total cost of ownership.


Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Thematic (Sector/Industry)

<ul><li>Chinese electric-vehicle (EV) makers are pulling out all the stops to lure buyers into placing orders by the end of 2022, before subsidies for new-energy vehicle (NEV) purchases are completely phased out</li><li>Carmakers are adopting these sales strategies because they want to “get in ahead of rivals” to secure as many orders as possible before 2023 amid growing speculation that China’s passenger NEV market will likely enter a phase of readjustment</li><li>Government subsidies were introduced in 2010 to spur the growth of the industry — alongside other support policies such as tax breaks for buyers</li></ul>

Chinese electric-vehicle (EV) makers are pulling out all the stops to lure buyers into placing orders by the end of 2022, before subsidies for new-energy vehicle (NEV) purchases are completely phased outCarmakers are adopting these sales strategies because they want to “get in ahead of rivals” to secure as many orders as possible before 2023 amid growing speculation that China’s passenger NEV market will likely enter a phase of readjustmentGovernment subsidies were introduced in 2010 to spur the growth of the industry — alongside other support policies such as tax breaks for buyers

China’s EV-Makers Race to Secure Orders Before Subsidies End

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.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vinfast" target="_blank" data-smartkarma-citation="entities:36550:1" rel="noopener">VinFast Auto (1905332D VN)</a>  is looking to raise up to US$1bn in its upcoming US IPO.</li>
<li>VinFast is a full-scale mobility platform focused primarily on designing and manufacturing premium EVs, electric scooters and electric buses.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



VinFast Auto (1905332D VN)  is looking to raise up to US$1bn in its upcoming US IPO.
VinFast is a full-scale mobility platform focused primarily on designing and manufacturing premium EVs, electric scooters and electric buses.
In this note, we talk about the positive aspects of the deal.


VinFast Auto Pre-IPO - The Positives - Aiming High...

Cross Asset Strategy

<ul><li>Accounting : In Depth: U.S. audit row dims big accounting’s prospects in China</li><li>Covid-19: China targets seniors in renewed Covid vaccination drive</li><li>PMI: China’s manufacturing activity contracts again, Caixin PMI shows</li></ul>

Accounting : In Depth: U.S. audit row dims big accounting’s prospects in ChinaCovid-19: China targets seniors in renewed Covid vaccination drivePMI: China’s manufacturing activity contracts again, Caixin PMI shows

CX Daily: U.S. Audit Row Dims Big Accounting’s Prospects in China

China Specialist, Auto and Industrial Specialist

Victoria Li

<ul>
<li>Despite the remaining EV subsidies finishing next year, we expect demand to be relatively unimpacted</li>
<li>Battery supply issues should be eased with Covid lockdowns easing and new capacity expansions</li>
<li>&gt;100 new models due for launch in 2023E vs ~70 in 2022 and will keep potential customers and market excited in the sector</li>
</ul>


Despite the remaining EV subsidies finishing next year, we expect demand to be relatively unimpacted
Battery supply issues should be eased with Covid lockdowns easing and new capacity expansions
&gt;100 new models due for launch in 2023E vs ~70 in 2022 and will keep potential customers and market excited in the sector


China NEV Outlook: Life After Subsidies Is Still Beautiful

China

XPeng Inc. designs, produces, and distributes electric vehicles. The Company designs, develops, manufactures and markets smart smart electric vehicles, as well as finance, parts, and maintenance services. XPeng serves customers in China.

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XPeng (XPEV US)

VinFast Auto IPO: The Bull Case

The key elements of the bull case rest on a credible EV roadmap, speed-to-market, solid consumer interest and models with attractive range-to-price...

Arun George

China’s EV-Makers Race to Secure Orders Before Subsidies End

Chinese electric-vehicle (EV) makers are pulling out all the stops to lure buyers into placing orders by the end of 2022, before subsidies...

Caixin Global

VinFast Auto Pre-IPO - The Positives - Aiming High...

VinFast Auto (1905332D VN) is looking to raise up to US$1bn in its upcoming US IPO. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

CX Daily: U.S. Audit Row Dims Big Accounting’s Prospects in China

Accounting : In Depth: U.S. audit row dims big accounting’s prospects in China. Covid-19: China targets seniors in renewed Covid vaccination drive

Caixin Global

China NEV Outlook: Life After Subsidies Is Still Beautiful

Despite the remaining EV subsidies finishing next year, we expect demand to be relatively unimpacted. Battery supply issues should be eased with...

Victoria Li

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