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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Nov 3rd.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in HSBC, Haidilao and China Mobile.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Nov 3rd.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in HSBC, Haidilao and China Mobile.


HK Short Interest Weekly: HSBC, Haidilao, China Mobile

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

Sichuan Baicha Baidao Industrial / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sichuan-baicha-baidao-industrial" target="_blank" data-smartkarma-citation="entities:40029:1" rel="noopener">Sichuan Baicha Baidao Industrial </a>(SBBI) is looking to raise up to US$300m in its upcoming HK IPO. </li>
<li>SBBI sells new-style tea drinks through its ChaPanda stores. According to F&amp;S, SBBI ranked third in China’s new-style tea shop market with a market share of 6.6%.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Sichuan Baicha Baidao Industrial (SBBI) is looking to raise up to US$300m in its upcoming HK IPO. 
SBBI sells new-style tea drinks through its ChaPanda stores. According to F&amp;S, SBBI ranked third in China’s new-style tea shop market with a market share of 6.6%.
In this note, we talk about the positive aspects of the deal.


Sichuan Baicha Baidao Pre-IPO - The Positives - Riding on Franchise Store Expansion

Greater China Equity Long/Short Analyst

Eric Chen

Equity Bottom-Up

<ul>
<li>We believe the company is well positioned in China's rapidly growing pizza market thanks to its strong brand and superior store economics. </li>
<li>Despite stock rally post 1H23 results, market still underestimates its earnings for both near and long term. We expect RMB250 million net profit for 2024 versus break-even by consensus.  </li>
<li>History suggests DPC Dash has recipe for attractive stock return driven by its highly visible growth that can shield it from macro situations, which is desperately needed by China investors.  </li>
</ul>


We believe the company is well positioned in China's rapidly growing pizza market thanks to its strong brand and superior store economics. 
Despite stock rally post 1H23 results, market still underestimates its earnings for both near and long term. We expect RMB250 million net profit for 2024 versus break-even by consensus.  
History suggests DPC Dash has recipe for attractive stock return driven by its highly visible growth that can shield it from macro situations, which is desperately needed by China investors.  


DPC Dash (1405 HK): Recipe for Multibagger

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 3rd.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Li Ning, Semiconductor Manufacturing International, Xiaomi, Wuxi Biologics, Kuaishou Technology.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 3rd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Li Ning, Semiconductor Manufacturing International, Xiaomi, Wuxi Biologics, Kuaishou Technology.


Hong Kong Connect Flows (Nov 3rd): Li Ning, SMIC, Xiaomi

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 20th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We have highlighted the flows for Meituan (3690 HK) .</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 20th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We have highlighted the flows for Meituan (3690 HK) .


Hong Kong Connect Flows (Oct 20th): Meituan

China

Haidilao International Holding Ltd. operates Chinese cuisine restaurant brand focusing on hot pot cuisine. The Company provides hot pots, soup bases, dipping sauces, drinks, prepared food, and other products. Haidilao International Holding opens restaurants in Taiwan, Hong Kong, Singapore, South Korea, Japan, and the United States.

Price Gauge
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Haidilao International Holding (6862 HK)

HK Short Interest Weekly: HSBC, Haidilao, China Mobile

We analyzed the latest HK SFC report for aggregate short position as of Nov 3rd and highlight short interest changes in HSBC, Haidilao, China Mobile.

Ke Yan, CFA, FRM

Sichuan Baicha Baidao Pre-IPO - The Positives - Riding on Franchise Store Expansion

Sichuan Baicha Baidao Industrial (SBBI) is looking to raise up to US$300m in its upcoming HK IPO. The company sells new style tea drinks through...

Sumeet Singh

DPC Dash (1405 HK): Recipe for Multibagger

We believe the company has the right recipe to become another multibagger in China's catering sector thanks to its strong brand and superior store...

Eric Chen

Hong Kong Connect Flows (Nov 3rd): Li Ning, SMIC, Xiaomi

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Li Ning, Semiconductor Manufacturing International, Xiaomi,...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Oct 20th): Meituan

We have analyzed southbound Hong Kong connect flows in the past week and have highlighted flows for Meituan ( 3690 HK ).

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)