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/hesai-group" target="_blank" data-smartkarma-citation="entities:36743:1" rel="noopener">Hesai Group (HSAI US)</a> has launched a Nasdaq IPO to raise up to US$171 million at an indicative price range of US$17-19 per ADS.</li>
<li>Hesai is a global leader in LiDAR technology for autonomous driving and ADAS. In the ADAS market, Hesai is the global leader in terms of shipment volume in 2022.</li>
<li>The key elements of the bull case rest on a solid competitive positioning, large addressable markets, high growth and a strong balance sheet.</li>
</ul>



Hesai Group (HSAI US) has launched a Nasdaq IPO to raise up to US$171 million at an indicative price range of US$17-19 per ADS.
Hesai is a global leader in LiDAR technology for autonomous driving and ADAS. In the ADAS market, Hesai is the global leader in terms of shipment volume in 2022.
The key elements of the bull case rest on a solid competitive positioning, large addressable markets, high growth and a strong balance sheet.


Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

<ul>
<li>Hesai Group (HSAI US) is getting ready to complete its IPO in the next several weeks in the United States, planning to raise as much as $171 million.</li>
<li>The ADAS penetration rate in China is expected to surge from 4.6% in 2022 to 11.2% in 2024 and 87.9% in 2030.</li>
<li>The company is a leading maker of laser-based LiDAR sensors in China. The company's major customers in the ADAS segment include Li Auto, Jidu, and Lotus.</li>
</ul>


Hesai Group (HSAI US) is getting ready to complete its IPO in the next several weeks in the United States, planning to raise as much as $171 million.
The ADAS penetration rate in China is expected to surge from 4.6% in 2022 to 11.2% in 2024 and 87.9% in 2030.
The company is a leading maker of laser-based LiDAR sensors in China. The company's major customers in the ADAS segment include Li Auto, Jidu, and Lotus.


APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC 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.

New Ruipeng Pet Group / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/new-ruipeng-pet-group-inc" target="_blank" data-smartkarma-citation="entities:36735:1" rel="noopener">New Ruipeng Pet Group (RPET US)</a> is looking to raise at least US$100m in its upcoming US IPO. </li>
<li>New Ruipeng Pet Group (Ruipeng) is a pet services platform, primarily offering pet care services, supply chain services and local services, covering the entire lifecycle of pets.</li>
<li>In this note, we will talk about the not-so-positive aspects of the deal.</li>
</ul>



New Ruipeng Pet Group (RPET US) is looking to raise at least US$100m in its upcoming US IPO. 
New Ruipeng Pet Group (Ruipeng) is a pet services platform, primarily offering pet care services, supply chain services and local services, covering the entire lifecycle of pets.
In this note, we will talk about the not-so-positive aspects of the deal.


New Ruipeng Pet Group Pre-IPO - The Negative - Loss-Making and Cash Burn Could Dampen Ambitions

<ul>
<li>
<a href="https://www.smartkarma.com/entities/new-ruipeng-pet-group-inc" target="_blank" data-smartkarma-citation="entities:36735:1" rel="noopener">New Ruipeng Pet Group (RPET US)</a> is looking to raise at least US$100m in its upcoming US IPO. </li>
<li>New Ruipeng Pet Group (Ruipeng) is a pet services platform, primarily offering pet care services, supply chain services and local services, covering the entire lifecycle of pets.</li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>



New Ruipeng Pet Group (RPET US) is looking to raise at least US$100m in its upcoming US IPO. 
New Ruipeng Pet Group (Ruipeng) is a pet services platform, primarily offering pet care services, supply chain services and local services, covering the entire lifecycle of pets.
In this note, we will talk about the positive aspects of the deal.


New Ruipeng Pet Group Pre-IPO - The Positives - Compelling Growth Story Reflected in Sales Growth

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hesai-group" target="_blank" data-smartkarma-citation="entities:36743:1" rel="noopener">Hesai Group (HSAI US)</a> is looking to raise at least US$100m in its upcoming US IPO.</li>
<li>HSAI is a manufacturer of three-dimensional light detection and ranging (Lidar) solutions. It has shipped over 103,000 Lidar units from 2017 to the end of 2022.</li>
<li>In this note, we will undertake a peer comparison with domestic and US-listed peers.</li>
</ul>



Hesai Group (HSAI US) is looking to raise at least US$100m in its upcoming US IPO.
HSAI is a manufacturer of three-dimensional light detection and ranging (Lidar) solutions. It has shipped over 103,000 Lidar units from 2017 to the end of 2022.
In this note, we will undertake a peer comparison with domestic and US-listed peers.


Hesai Group Pre-IPO -  Peer Comparison - Not Really the Largest, Globally or Locally

United States

Hesai Group provides 3D light detection and ranging solutions. The Company's LiDAR products enables a broad spectrum of applications across passenger and commercial vehicles with advanced driver assistance systems, as well as autonomous vehicle fleets providing passenger and freight mobility services.

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Hesai Group (HSAI US)

Hesai Group IPO: The Bull Case

The key elements of the bull case rest on a solid competitive positioning, large addressable markets, high growth and a strong balance sheet.

Arun George

HESAI Group IPO Preview

Hesai Group is getting ready to complete its IPO in the next several weeks in the United States, planning to raise as much as $171 million. It is a...

Douglas Kim

New Ruipeng Pet Group Pre-IPO - The Negative - Loss-Making and Cash Burn Could Dampen Ambitions

New Ruipeng Pet Group (RPET US) is looking to raise at least US$100m in its upcoming US IPO. In this note, we will talk about the not-so-positive...

Clarence Chu

New Ruipeng Pet Group Pre-IPO - The Positives - Compelling Growth Story Reflected in Sales Growth

New Ruipeng Pet Group (RPET US) is looking to raise at least US$100m in its upcoming US IPO. Ruipeng is a pet services platform, primarily offering...

Clarence Chu

Hesai Group Pre-IPO - Peer Comparison - Not Really the Largest, Globally or Locally

Hesai Group (HSAI US) is looking to raise at least US$100m in its upcoming US IPO. In this note, we will undertake a peer comparison.

Sumeet Singh

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