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 analyzed the latest HK SFC report for aggregate short position as of Jun 17th. </li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short interest increases in JD.com and Great Wall Motor. </li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jun 17th. 
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short interest increases in JD.com and Great Wall Motor. 


HK Short Interest: Short Spiked for JD.com, Great Wall Motor

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>A few IPOs are lined up in Thailand and South Korea, in addition a number of deals are gearing up for launch.</li>
<li>There were no major placements last week. Although there are a few large lockup releases soon.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
A few IPOs are lined up in Thailand and South Korea, in addition a number of deals are gearing up for launch.
There were no major placements last week. Although there are a few large lockup releases soon.


ECM Weekly (26th June 2022) - Tianqi, Thai Life, Thai Bev, ClouDr, ACommerce, SenseTime, SonaComstar

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Inside is a recap of movements in the last week relating to the Shanghai and Shenzhen-Hong Kong Stock Connect facilities, broken down by company and industry.</li>
<li>Overall, net inflow over the past week was ~US$1.3bn, split US$0.4bn for Shanghai and US$0.9bn for Shenzhen.</li>
<li>The largest inflows were into <a href="https://www.smartkarma.com/entities/xpeng-inc-4cc65854-d10c-4d20-bf7e-ca0e016715ff" target="_blank" data-smartkarma-citation="entities:33772:1" rel="noopener">XPeng (9868 HK)</a> and <a href="https://www.smartkarma.com/entities/hong-kong-exchanges-clearing" target="_blank" data-smartkarma-citation="entities:490:1" rel="noopener">HKEX (388 HK)</a>. The largest outflow was in <a href="https://www.smartkarma.com/entities/meituan-dianping" target="_blank" data-smartkarma-citation="entities:26970:1" rel="noopener">Meituan (3690 HK)</a> and <a href="https://www.smartkarma.com/entities/koolearn-technology-holding" target="_blank" data-smartkarma-citation="entities:27796:1" rel="noopener">Koolearn (1797 HK)</a>.</li>
</ul>


Inside is a recap of movements in the last week relating to the Shanghai and Shenzhen-Hong Kong Stock Connect facilities, broken down by company and industry.
Overall, net inflow over the past week was ~US$1.3bn, split US$0.4bn for Shanghai and US$0.9bn for Shenzhen.
The largest inflows were into XPeng (9868 HK) and HKEX (388 HK). The largest outflow was in Meituan (3690 HK) and Koolearn (1797 HK).


Shanghai/​​​​​Shenzhen Southbound Connect: Weekly Moves (24 June 2022)

Asia biased macro & technical analysis, Untying The Gordian Knot

Untying The Gordian Knot

Asia biased macro & technical analysis

A differentiated process with a primary focus on Asia. Technical Analysis as core and Macro drivers that could bring the view to fruition & changes that could make the idea fall apart. The objective is to be the best in class, hence corner shop.

Technical Analysis

<ul>
<li>Hong Kong's Link Riet has excellent assets, but the fears of further lockdowns and rising interest rates do not make for a good combination.</li>
<li>They seem to be leading other mall operators despite higher quality assets (mostly low-end and necessities).</li>
<li>Globally none of the delivery services has a cost-effective, scalable model, as they hit the regulatory challenges and hiring costs increases for every scaleup. </li>
</ul>


Hong Kong's Link Riet has excellent assets, but the fears of further lockdowns and rising interest rates do not make for a good combination.
They seem to be leading other mall operators despite higher quality assets (mostly low-end and necessities).
Globally none of the delivery services has a cost-effective, scalable model, as they hit the regulatory challenges and hiring costs increases for every scaleup. 


Hang Seng Index Constituents 22nd June 2022

<ul>
<li>SenseTime Group (STG) raised US$741m in its Hong Kong IPO in Dec 21. The IPO barely made it through and was priced at the bottom of its IPO price range.</li>
<li>STG is a leading AI software company. STG was the largest AI software company in Asia in terms of 2020 revenue, as per Frost &amp; Sullivan (F&amp;S).</li>
<li>In this note, we will talk about the lock-up dynamics and updates since our last note.</li>
</ul>


SenseTime Group (STG) raised US$741m in its Hong Kong IPO in Dec 21. The IPO barely made it through and was priced at the bottom of its IPO price range.
STG is a leading AI software company. STG was the largest AI software company in Asia in terms of 2020 revenue, as per Frost &amp; Sullivan (F&amp;S).
In this note, we will talk about the lock-up dynamics and updates since our last note.


SenseTime Lock-Up -Investment Blacklist Will Further Pressurize the Upcoming US$18bn Lock-Up Release

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.

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

Meituan (3690 HK)

HK Short Interest: Short Spiked for JD.com, Great Wall Motor

We highlight week-on-week short interest increases in JD.com and Great Wall Motor in the Hong Kong market based on the latest SFC short aggregate...

Ke Yan, CFA, FRM

ECM Weekly (26th June 2022) - Tianqi, Thai Life, Thai Bev, ClouDr, ACommerce, SenseTime, SonaComstar

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Shanghai/Shenzhen Southbound Connect: Weekly Moves (24 June 2022)

Overall, net inflow for the week was ~US$1.3bn, split US$0.4bn for Shanghai and US$0.9bn for Shenzhen. The largest inflows were into XPeng and...

David Blennerhassett

Hang Seng Index Constituents 22nd June 2022

Hong Kong's Link Riet has excellent assets, but the fears of further lockdowns and rising interest rates do not make for a good combination.

Untying The Gordian Knot

SenseTime Lock-Up -Investment Blacklist Will Further Pressurize the Upcoming US$18bn Lock-Up Release

SenseTime Group (STG) raised US$741m in its Hong Kong IPO in Dec 21. The lockup on the pre-IPO and cornerstone investors will expire later this month.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HK Short Interest: Short Spiked for JD.com, Great Wall Motor

We highlight week-on-week short interest increases in JD.com and Great Wall Motor in the Hong Kong market based on the latest SFC short aggregate...

Ke Yan, CFA, FRM

ECM Weekly (26th June 2022) - Tianqi, Thai Life, Thai Bev, ClouDr, ACommerce, SenseTime, SonaComstar

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Shanghai/​​​​​Shenzhen Southbound Connect: Weekly Moves (24 June 2022)

Overall, net inflow for the week was ~US$1.3bn, split US$0.4bn for Shanghai and US$0.9bn for Shenzhen. The largest inflows were into XPeng and...

David Blennerhassett

Hang Seng Index Constituents 22nd June 2022

Hong Kong's Link Riet has excellent assets, but the fears of further lockdowns and rising interest rates do not make for a good combination.

Untying The Gordian Knot

SenseTime Lock-Up -Investment Blacklist Will Further Pressurize the Upcoming US$18bn Lock-Up Release

SenseTime Group (STG) raised US$741m in its Hong Kong IPO in Dec 21. The lockup on the pre-IPO and cornerstone investors will expire later this month.

Sumeet Singh

Shanghai/Shenzhen Southbound Connect: Weekly Moves (24 June 2022)