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 analyse the changes of A/H premium on 134 stocks over the last week. </li>
<li>Consumer staple sector led the A/H increase which was due to Lanzhou Zhuangyuan Pasture, while utilities saw the biggest A/H premium decline among sectors. </li>
<li>We highlight stocks at 52 week high of A/H premium: Tigermed, Zoomlion, Flat Glass, Baiyunshan, Hepalink. Many of these names are in the health care sector. </li>
</ul>


We analyse the changes of A/H premium on 134 stocks over the last week. 
Consumer staple sector led the A/H increase which was due to Lanzhou Zhuangyuan Pasture, while utilities saw the biggest A/H premium decline among sectors. 
We highlight stocks at 52 week high of A/H premium: Tigermed, Zoomlion, Flat Glass, Baiyunshan, Hepalink. Many of these names are in the health care sector. 


A/H Premium Weekly: Tigermed, Zoomlion, Flat Glass, Baiyunshan, Hepalink at 52w High

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

Asymchem Laboratories Tianjin / Equity Capital Markets

<ul>
<li>Asymchem Laboratories raised around US$1.05bn in its H-share listing in Hong Kong.</li>
<li>AL is a provider of outsourced pharmaceutical development and manufacturing solutions and services. </li>
<li>In this note, we will talk about the subscription levels and trading dynamics.</li>
</ul>


Asymchem Laboratories raised around US$1.05bn in its H-share listing in Hong Kong.
AL is a provider of outsourced pharmaceutical development and manufacturing solutions and services. 
In this note, we will talk about the subscription levels and trading dynamics.


Asymchem Labs A/H Trading - Moderate Demand and Upside

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.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/asymchem-laboratories-tianjin-co-ltd" target="_blank" data-smartkarma-citation="entities:28265:1" rel="noopener">Asymchem Laboratories (002821 CH)</a> is a global contract development manufacturing organisation (CDMO). Asymchem has launched an H Share listing to raise net proceeds of $0.9 billion, at the mid-point price.</li>
<li>In <a href="https://www.smartkarma.com/insights/asymchem-laboratories-h-share-listing-on-demand-science" target="_blank" data-smartkarma-citation="insights:61561" rel="noopener">Asymchem Laboratories H Share Listing: On-Demand Science</a>, we noted that the forward indicators suggest that the near-term prospects remain solid. We concluded that Asymchem has robust fundamentals.  </li>
<li>Overall, the combination of a reasonable AH discount and relative valuation suggests the proposed H-share price range is attractive, in our view.</li>
</ul>



Asymchem Laboratories (002821 CH) is a global contract development manufacturing organisation (CDMO). Asymchem has launched an H Share listing to raise net proceeds of $0.9 billion, at the mid-point price.
In Asymchem Laboratories H Share Listing: On-Demand Science, we noted that the forward indicators suggest that the near-term prospects remain solid. We concluded that Asymchem has robust fundamentals.  
Overall, the combination of a reasonable AH discount and relative valuation suggests the proposed H-share price range is attractive, in our view.


Asymchem Laboratories H Share Listing: Valuation Insights

<ul>
<li>Asymchem Laboratories (AL) aims to raise up to US$968m in its H-share listing in Hong Kong.</li>
<li>AL is a provider of outsourced pharmaceutical development and manufacturing solutions and services. </li>
<li>In this note, we will talk about the recent updates and IPO pricing.</li>
</ul>


Asymchem Laboratories (AL) aims to raise up to US$968m in its H-share listing in Hong Kong.
AL is a provider of outsourced pharmaceutical development and manufacturing solutions and services. 
In this note, we will talk about the recent updates and IPO pricing.


Asymchem Labs A/​H Listing - Pricing Seems Adequate Despite the Share Price Run Up

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

<ul>
<li>We reviewed the 2021 performance and summarized the 2022 outlook for China healthcare sector.</li>
<li>We listed the 2022 high conviction ideas and mainly analyzed the industry characteristics, the business, the core competitiveness, the forecast and the concerns of related companies.</li>
<li>Overall, there are still good investment opportunities in China healthcare industry in 2022.</li>
</ul>


We reviewed the 2021 performance and summarized the 2022 outlook for China healthcare sector.
We listed the 2022 high conviction ideas and mainly analyzed the industry characteristics, the business, the core competitiveness, the forecast and the concerns of related companies.
Overall, there are still good investment opportunities in China healthcare industry in 2022.


2022 High Conviction (China Healthcare) - Seek the Relative Certainties Out of the Uncertainties

China

Hangzhou Tigermed Consulting Co.,Ltd. provides professional clinical research services for domestic and foreign pharmaceutical and health-related research and development. The Company's main services include clinical trial technology services, data management, and statistical analysis. Hangzhou Tigermed Consulting offers services worldwide.

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

Hangzhou Tigermed Consulting C (3347 HK)

A/H Premium Weekly: Tigermed, Zoomlion, Flat Glass, Baiyunshan, Hepalink at 52w High

We look at the changes in A/H premium in the last week. We highlight consumer staple sector and utilities sector, and stocks including Tigermed,...

Ke Yan, CFA, FRM

Asymchem Labs A/H Trading - Moderate Demand and Upside

Asymchem Laboratories raised around US$1.05bn in its H-share listing in Hong Kong. In this note, we talk about the trading dynamics.

Sumeet Singh

2022 High Conviction (China Healthcare) - Seek the Relative Certainties Out of the Uncertainties

The article analyzed the 2021 review and 2022 high conviction ideas, including the industry characteristics, the business, the core...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

A/H Premium Weekly: Tigermed, Zoomlion, Flat Glass, Baiyunshan, Hepalink at 52w High

We look at the changes in A/H premium in the last week. We highlight consumer staple sector and utilities sector, and stocks including Tigermed,...

Ke Yan, CFA, FRM

Asymchem Labs A/H Trading - Moderate Demand and Upside

Asymchem Laboratories raised around US$1.05bn in its H-share listing in Hong Kong. In this note, we talk about the trading dynamics.

Sumeet Singh

Asymchem Laboratories H Share Listing: Valuation Insights

The combination of a reasonable AH discount and relative valuation suggests the proposed H-share price range of HK$350-410 is attractive, in our view.

Arun George

Asymchem Labs A/​H Listing - Pricing Seems Adequate Despite the Share Price Run Up

Asymchem Laboratories (AL) aims to raise up to US$968m in its H-share listing in Hong Kong. In this note, we will talk about the IPO pricing.

Sumeet Singh

2022 High Conviction (China Healthcare) - Seek the Relative Certainties Out of the Uncertainties

The article analyzed the 2021 review and 2022 high conviction ideas, including the industry characteristics, the business, the core...

Xinyao (Criss) Wang

Asymchem Labs A/H Listing - Pricing Seems Adequate Despite the Share Price Run Up