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

Hong Kong Exchange publishes share repurchases by listed companies on a daily basis. In our weekly note, we will provide statistics on top repurchases over one week, one month, one quarter and one year periods. In the past 7 days, the top 3 companies that repurchased the most shares from the market were <a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi Corp (1810 HK)</a> (HKD 400.0 million worth of buybacks), <a href="https://www.smartkarma.com/entities/perfect-shape-medical-limited" target="_blank" data-smartkarma-citation="entities:3639:1" rel="noopener">Perfect Shape Medical (1830 HK)</a> (HKD 29.1 million worth of buybacks), <a href="https://www.smartkarma.com/entities/ascletis-pharma-inc" target="_blank" data-smartkarma-citation="entities:27265:1" rel="noopener">Ascletis Pharma Inc (1672 HK)</a> (HKD 21.9 million worth of buybacks).In the past 30 days, the top 3 companies that repurchased the most shares from the market were Xiaomi Corporation (1810 HK) (HKD 400.0 million worth of buybacks), Yichang Hec Changjiang Pharmaceutical Co., Ltd. (1558 HK) (HKD 66.4 million worth of buybacks), Weimob Inc. (2013 HK) (HKD 56.6 million worth of buybacks). In the past 90 days, the top 3 companies that repurchased the most shares from the market were Xiaomi Corporation (1810 HK) (HKD 1,324.8 million worth of buybacks), Tencent Holdings Limited (700 HK) (HKD 973.0 million worth of buybacks), Dickson Concept (113 HK) (HKD 224.8 million worth of buybacks).In the past year, the top 3 companies that repurchased the most shares from the market were Xiaomi Corporation (1810 HK) (HKD 2,524.7 million worth of buybacks), Tencent Holdings Limited (700 HK) (HKD 1,125.6 million worth of buybacks), Hengan International Group Company Limited (1044 HK) (HKD 904.4 million worth of buybacks).

Hong Kong Exchange publishes share repurchases by listed companies on a daily basis. In our weekly note, we will provide statistics on top repurchases over one week, one month, one quarter and one year periods. In the past 7 days, the top 3 companies that repurchased the most shares from the market were Xiaomi Corp (1810 HK) (HKD 400.0 million worth of buybacks), Perfect Shape Medical (1830 HK) (HKD 29.1 million worth of buybacks), Ascletis Pharma Inc (1672 HK) (HKD 21.9 million worth of buybacks).In the past 30 days, the top 3 companies that repurchased the most shares from the market were Xiaomi Corporation (1810 HK) (HKD 400.0 million worth of buybacks), Yichang Hec Changjiang Pharmaceutical Co., Ltd. (1558 HK) (HKD 66.4 million worth of buybacks), Weimob Inc. (2013 HK) (HKD 56.6 million worth of buybacks). In the past 90 days, the top 3 companies that repurchased the most shares from the market were Xiaomi Corporation (1810 HK) (HKD 1,324.8 million worth of buybacks), Tencent Holdings Limited (700 HK) (HKD 973.0 million worth of buybacks), Dickson Concept (113 HK) (HKD 224.8 million worth of buybacks).In the past year, the top 3 companies that repurchased the most shares from the market were Xiaomi Corporation (1810 HK) (HKD 2,524.7 million worth of buybacks), Tencent Holdings Limited (700 HK) (HKD 1,125.6 million worth of buybacks), Hengan International Group Company Limited (1044 HK) (HKD 904.4 million worth of buybacks).

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

Union Medical Healthcare, the largest provider of aesthetic medical services in Hong Kong, plans to raise US$150m through its IPO in Hong Kong. As per media reports, the company is in the pre-marketing stage and could launch the IPO as soon as next month.In this insight take a look at some of the factors that could impact the deal. Post deal launch we will follow up with another insight to discuss valuations. At the outset a 64% CAGR in revenue appears impressive, however, a closer look reveals a few cracks in revenue and earnings growth. In addition, were one to exclude the revenue from unutilized of pre-paid treatments, there wouldn't be much earnings left.

Union Medical Healthcare, the largest provider of aesthetic medical services in Hong Kong, plans to raise US$150m through its IPO in Hong Kong. As per media reports, the company is in the pre-marketing stage and could launch the IPO as soon as next month.In this insight take a look at some of the factors that could impact the deal. Post deal launch we will follow up with another insight to discuss valuations. At the outset a 64% CAGR in revenue appears impressive, however, a closer look reveals a few cracks in revenue and earnings growth. In addition, were one to exclude the revenue from unutilized of pre-paid treatments, there wouldn't be much earnings left. 

Union Medical Healthcare Pre-IPO Review - Dressed up with More than Its Fair Share of Botox

Hong Kong

The Cross-Harbour (Holdings) Limited, through its subsidiaries, operates a driver training center, tunnel, and electronic tolls. The Company also provides treasury services.

Hope Education Group Co, Ltd. offers educational services. The Company provides educational training, knowledge point sharing, activities arrangement, and other services. Hope Education Group offers its services throughout China.

Water Oasis Group Limited distributes exclusively ~H2O+ brand skin-care products in Hong Kong, Macau, Taiwan and China. The Company also operates spa centers under the Oasis Spa, Oasis Beauty, and Oasis Beauty Homme brand names.

Anxian Yuan China Holdings Limited is a holding company. The Company, through its subsidiaries, operates cemetary business.

Green International Holdings Limited manufactures and trades toys and recreational products. The Company's product categories include hard and electronic toys for children, educational and recreational, soft toys, and sports products.

SDM Group Holdings Limited, through its subsidiaries, operates dance institutions for children in Hong Kong. The Company's schools offer courses in jazz, ballet, hip-hop and latin dance.

Steve Leung Design Group Limited provides interior designing services. The Company offers apartments, restaurants, and hotels interior designing services . Steve Leung Design Group provides services worldwide.

Sun International Group Limited offers equine services. The Company provides horse breeding, horse trading, horse raising, and other services. Sun International Group also operates futures trading, enterprise placement, financial credit financing, asset management, and other businesses.

Regal Hotels International Holdings Limited owns and operates hotels.  The Company also manages and invests in real estate properties as well as invests in and trades financial instruments and marketable securities.  In addition, Regal hotel operates brewery, operates restaurants, and provides travel and florist and wedding services.

Cafe De Coral Holdings Limited, through its subsidiaries, operates quick service restaurants, fast casual dining, institutional catering and specialty restaurant chains, and food manufacturing business.

Carriage Services, Inc. operates funeral homes and cemeteries in the United States.  The Company provides a complete range of services relating to funerals, burials, and cremations.  Carriage also sells related products and merchandise such as caskets, burial vaults, garments, and memorials.

Shanghai Xin Nanyang Co., Ltd., through its subsidiaries, manufactures communication products and industrial equipment, develops cable TV network, security trading, and communication systems, provides network integration, education, and precision processing services.

China Kepei Education Group Limited provides educational services. The Company offers high-quality profession-oriented education services and other services. China Kepei Education Group provides services in China.

Chegg, Inc. provides online educational platform. The Company offers homework help, course selection, note taking, manuals, and textbook rentals services. Chegg serves customers throughout the United States.

American Public Education Inc. provides online postsecondary education directed at the needs of the military and public service communities.  The Company offers a wide range of degree programs and certificate programs including national security, military studies, intelligence, homeland security, criminal justice, technology, business administration and liberal arts.

PIA CORPORATION provides event ticketing services in Japan.  The Company sells tickets for concerts, sporting contests, and other events of entertainment value through telephone operators, mobile phone services, and a network of ticket stores.  Pia also operates in entertainment publishing and information distribution services.

Nagase Brothers Inc. operates cram schools mainly in Tokyo metropolitan area. The Company offers educational services for elementary, junior high, and high school students.  Nagase Brothers also offers educational services via satellite.

JP-HOLDINGS, INC. is a Japan-based company that provides child-care centers. The Company provides food catering services for child-care centers. JP-HOLDINGS also offers English language Classes and Gymnastics Classes

AcadeMedia AB provides educational services. The Company offers pre-school, elementary, secondary, vocational, adult education, comprehensive lesson plans, skills training, and professional rehabilitation services. AcadeMedia operates throughout Sweden.

Propel Funeral Partners Limited provides funeral services. The Company owns and operates funeral homes, cemeteries, crematoria, and related assets, as well as offers funeral, cremation, burial, and mortuary services. Propel Funeral Partners serves individuals and families in Australia and New Zealand.

Perfect Medical Health Management (previously Perfect Shape Medical Limited) offers slimming and beauty treatments. The Company provides fat softens and dissolves services, laser freckle services, and other services. Perfect Shape Medical offers services in China.

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

Perfect Medical Health (1830 HK)

Hong Kong Buyback Weekly: Xiaomi Is Back

Hong Kong Exchange publishes share repurchases by listed companies on a daily basis. In our weekly note, we will provide statistics on top...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Buyback Weekly: Xiaomi Is Back

Hong Kong Exchange publishes share repurchases by listed companies on a daily basis. In our weekly note, we will provide statistics on top...

Ke Yan, CFA, FRM

Union Medical Healthcare Pre-IPO Review - Dressed up with More than Its Fair Share of Botox

Union Medical Healthcare, the largest provider of aesthetic medical services in Hong Kong, plans to raise US$150m through its IPO in Hong Kong. As...

Sumeet Singh