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

Cross Asset Strategy

<ul><li>In Depth: Rival ride-hailing apps challenge Didi in world’s biggest market</li><li>Xi calls for improved China-Australia relations at G-20</li><li>Indonesia IT minister plays up opportunities in country’s digital transformation</li></ul>

In Depth: Rival ride-hailing apps challenge Didi in world’s biggest marketXi calls for improved China-Australia relations at G-20Indonesia IT minister plays up opportunities in country’s digital transformation

CX Daily: Rival Ride-Hailing Apps Challenge Didi in World’s Biggest Market

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<div><ul><li>Pull and push to online e-commerce channels propelled the strong YoY growth in online retail sales of physical goods GMV</li><li>Overall consumption sentiment still needs confidence boost.</li><li>Ability to stabilize earnings remains the key focus in the near term.</li></ul></div>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pull and push to online e-commerce channels propelled the strong YoY growth in online retail sales of physical goods GMVOverall consumption sentiment still needs confidence boost.Ability to stabilize earnings remains the key focus in the near term.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Internet – October online retail sales recap

<ul><li>Resilient online sales growth during double 11, where Tik Tok, PDD and JD platforms continued to outperform.</li><li>Based on our channel check and CMBI est., the online GMV growth during 2022’s double 11 was at ~14% YoY, inline with CMBI est. and beat market expectation, similar to online sales growth in Sep 2022 and had picked up vs Oct 2022.</li><li>In terms of platforms, YoY growth for Alibaba (Tmall + Tao Bao)/ JD/ PDD/ TikTok increased by ~flattish/ ~teens/ 27%/ 38%.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Resilient online sales growth during double 11, where Tik Tok, PDD and JD platforms continued to outperform.Based on our channel check and CMBI est., the online GMV growth during 2022’s double 11 was at ~14% YoY, inline with CMBI est. and beat market expectation, similar to online sales growth in Sep 2022 and had picked up vs Oct 2022.In terms of platforms, YoY growth for Alibaba (Tmall + Tao Bao)/ JD/ PDD/ TikTok increased by ~flattish/ ~teens/ 27%/ 38%.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Sportswear Sector – Sequential improvements during double 11

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.

Event-Driven

<ul>
<li>In Nov 2021, Sapphire Foods Limited (SFL), one of Yum Brand’s franchisees in the Indian subcontinent, raised around US$280m in its Indian IPO. </li>
<li>The lock-up on its shareholders will expire soon, with a number of PE funds on its register</li>
<li>In this note, we will talk about the upcoming lockup expiry.</li>
</ul>


In Nov 2021, Sapphire Foods Limited (SFL), one of Yum Brand’s franchisees in the Indian subcontinent, raised around US$280m in its Indian IPO. 
The lock-up on its shareholders will expire soon, with a number of PE funds on its register
In this note, we will talk about the upcoming lockup expiry.


Sapphire Foods IPO - Smallish Stock with Big (US$550m) Multiple PE Lockup Expiry

<ul><li>2022 “11.11” saw mild GMV recovery, with emphasis on “quality growth”, “agricultural incentives”, “domestics promotion”, “opening up” and “user experience”.</li><li>Total GMV recorded RMB1,151bn, +13% YoY, based on Syntun data.</li><li>Short videos share gain continued, up to 16% mkt share from 7% in 2021 (livestreaming ecommerce GMV+146% YoY, vs. comprehensive platforms +2.9%).</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

2022 “11.11” saw mild GMV recovery, with emphasis on “quality growth”, “agricultural incentives”, “domestics promotion”, “opening up” and “user experience”.Total GMV recorded RMB1,151bn, +13% YoY, based on Syntun data.Short videos share gain continued, up to 16% mkt share from 7% in 2021 (livestreaming ecommerce GMV+146% YoY, vs. comprehensive platforms +2.9%).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Internet Sector – 2022 "11.11": Moderate recovery with quality growth

China

JD.com Inc is an online direct sales company in China.  The Company offers a wide selection of products through its website and mobile applications.  JD.com sells appliances, computers, digital products, communication products, garments, books, and household items to consumers and vendors.

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JD.com Inc (ADR) (JD US)

CX Daily: Rival Ride-Hailing Apps Challenge Didi in World’s Biggest Market

In Depth: Rival ride-hailing apps challenge Didi in world’s biggest market. Xi calls for improved China-Australia relations at G-20.

Caixin Global

China Internet – October online retail sales recap

Pull and push to online e-commerce channels propelled the strong YoY growth in online retail sales of physical goods GMV. Overall consumption...

CMB International

China Sportswear Sector – Sequential improvements during double 11

Based on our channel check and CMBI est., the online GMV growth during 2022’s double 11 was at ~14% YoY, inline with CMBI est. and beat market...

CMB International

Sapphire Foods IPO - Smallish Stock with Big (US$550m) Multiple PE Lockup Expiry

In Nov 2021, Sapphire Foods Limited, one of Yum Brand’s franchisees in the Indian subcontinent, raised around US$280m in its Indian IPO. In this...

Sumeet Singh

China Internet Sector – 2022 "11.11": Moderate recovery with quality growth

2022 “11.11” saw mild GMV recovery, with emphasis on “quality growth”, “agricultural incentives”, “domestics promotion”, “opening up” and “user...

CMB International

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52-week Range

Market Cap (USDm)

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