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.

Equity Bottom-Up

<div><ul><li>Long-term UE expansion for FD business remains on track.</li><li>ISHT: awaits operational recovery next year.</li><li>New businesses: eyes on UE improvement for Meituan Select in the ST, and business model evolvement over the long 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.

Long-term UE expansion for FD business remains on track.ISHT: awaits operational recovery next year.New businesses: eyes on UE improvement for Meituan Select in the ST, and business model evolvement over the long 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.

Meituan (3690 HK) – Balancing Growth and Efficiency

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 analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outlfows, and holding by mainland investors.</li>
<li>We highlight inflows into Tencent, Meituan, Wuxi Biologics, Li Auto, Kuaishou, and outflows from Tsingtao Brewery.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outlfows, and holding by mainland investors.
We highlight inflows into Tencent, Meituan, Wuxi Biologics, Li Auto, Kuaishou, and outflows from Tsingtao Brewery.


Hong Kong Connect Flows Monthly: $8.1bn Inflows in October

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

Private Capital Markets

<ul>
<li>XPeng Robotics is a bionic smart robot maker backed by Chinese EV giant XPeng and high-profile investor IDG Capital. The company focuses on AI, robot autonomy, and interaction.</li>
<li>Founded in 2016 and headquartered in Shenzhen, XPeng Robotics is an affiliate of XPeng, with R&amp;D centers in Beijing, Guangzhou, and Silicon Valley. </li>
<li>Bloomberg reported that $100M+ Series A financing was the largest single-tranche fundraising for the bionic robot sector in China in the past two years. </li>
</ul>


XPeng Robotics is a bionic smart robot maker backed by Chinese EV giant XPeng and high-profile investor IDG Capital. The company focuses on AI, robot autonomy, and interaction.
Founded in 2016 and headquartered in Shenzhen, XPeng Robotics is an affiliate of XPeng, with R&amp;D centers in Beijing, Guangzhou, and Silicon Valley. 
Bloomberg reported that $100M+ Series A financing was the largest single-tranche fundraising for the bionic robot sector in China in the past two years. 


XPeng Robotics: Early-Stage VC Investment in Developer of Smart Robot Pony

Gaussian Robotics / Private Capital Markets

<ul>
<li>Gaussian Robotics sells a new generation of autonomous cleaning robots that can be applied in office buildings, shopping malls, indoor galleries, hotels, schools, healthcare facilities, and warehouses.  </li>
<li>Shanghai-Based unicorn wants to disrupt the cleaning industry with automation, promoting the use of low-cost autonomous cleaning robots worldwide. </li>
<li>The company owns the world’s most advanced commercial cleaning robot portfolio offering cost-effective smart robotic solutions to 2,000+ customers in 40+ countries across 6 regions.</li>
</ul>


Gaussian Robotics sells a new generation of autonomous cleaning robots that can be applied in office buildings, shopping malls, indoor galleries, hotels, schools, healthcare facilities, and warehouses.  
Shanghai-Based unicorn wants to disrupt the cleaning industry with automation, promoting the use of low-cost autonomous cleaning robots worldwide. 
The company owns the world’s most advanced commercial cleaning robot portfolio offering cost-effective smart robotic solutions to 2,000+ customers in 40+ countries across 6 regions.


Gaussian Robotics: Leading Provider of AI-Powered Cleaning Robots

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

Alibaba Group Holding  / Equity Bottom-Up

<ul>
<li>In 3Q22, S. F. Holdings’s revenue grew by 45% YoY and net profit increased by 89% YoY.</li>
<li>Alibaba resumed its link on Kuaishou's live streaming sales before Singles’ Day.</li>
<li>Tencent denied the rumor that it would be acquired by China Mobile.</li>
</ul>


In 3Q22, S. F. Holdings’s revenue grew by 45% YoY and net profit increased by 89% YoY.
Alibaba resumed its link on Kuaishou's live streaming sales before Singles’ Day.
Tencent denied the rumor that it would be acquired by China Mobile.


China Internet Weekly (31Oct2022): Alibaba, Tencent, Meituan, Kuaishou, S.F.

China

Meituan operates as a web based shopping platform for locally found consumer products and retail services. The Company offers deals of the day by selling vouchers on local services and entertainment, dining, delivery, and other services. Meituan provides its services throughout China.

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Meituan (3690 HK)

Meituan (3690 HK) – Balancing Growth and Efficiency

ISHT: awaits operational recovery next year. New businesses: eyes on UE improvement for Meituan Select in the ST, and business model evolvement...

CMB International

Hong Kong Connect Flows Monthly: $8.1bn Inflows in October

We analyzed the Hong Kong Connect Scheme for October and highlight flows for Tencent, Meituan, Wuxi Biologics, Li Auto, Kuaishou, Tsingtao Brewery.

Ke Yan, CFA, FRM

XPeng Robotics: Early-Stage VC Investment in Developer of Smart Robot Pony

With Chinese EV giant XPeng moving into robotics, we believe XPeng Robotics is a high-return early-stage VC investment in the rapidly growing...

Andrei Zakharov

Gaussian Robotics: Leading Provider of AI-Powered Cleaning Robots

High-growth unicorn Gaussian Robotics is a leading player in China’s commercial cleaning robot market, and we are positive on the company’s product...

Andrei Zakharov

China Internet Weekly (31Oct2022): Alibaba, Tencent, Meituan, Kuaishou, S.F.

In 3Q22, S. F. Holdings’s revenue grew by 45% YoY and net profit increased by 89% YoY. Alibaba resumed the cooperation with Kuaishou. Tencent...

Ming Lu

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