ECM Weekly (28th May 2023) - HK Trip Notes, Rakuten, JD Ind, Horizon Const, Nippon Prologis, MINT
Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
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Meituan (3690 HK, BUY, TP US$170) Target Price Change: Consolidating Market Share… Maintain BUY
Our BUY thesis remains unchanged, as we believe investors overestimate Douyin's impact, while underestimating Meituan's ability to improve margins....
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Meituan: Strong 1Q with Operating Profits; No Disclosure on User Numbers and Delivery Costs
Meituan reported adj. OP and core local commerce biz seeing strong growth. There is no disclosure on user/merchant numbers and delivery costs which...
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Meituan (3690 HK): 1Q23, Real Operating Profit Turned Positive After Nine Quarters
In 1Q23, Meituan (MT)’s revenues still strongly grew by 27% YoY with all business lines up by more than 10% YoY. The real operating profits turned...
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JD Industrials Pre-IPO - Peer Comparison - Some Interesting Nuggets from Peer Filings
JD Industrials is looking to raise about US$1bn in its upcoming HK IPO. In this note we talk about some additional useful information that we...
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