Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Capital Markets

Cainiao Smart Logistics Network / Equity Capital Markets

<ul>
<li>Within <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba (ADR) (BABA US)</a>'s June quarter results, the numbers from logistics arm <a href="https://www.smartkarma.com/entities/cainiao-smart-logistics-network-ltd" target="_blank" data-smartkarma-citation="entities:36859:1" rel="noopener">Cainiao Smart Logistics (1437124D HK)</a> stood out: revenue up 34% Y/Y, &amp; EBITA turned to +ive</li>
<li>In this insight we attempt to place Cainiao's stellar results into context: it grew far faster than parent Alibaba's revenue, but also faster than Chinese e-comm and Chinese express</li>
<li>As Cainiao preps for its IPO, its June results should boost investors' confidence. The numbers also hint at what is driving Cainiao's recent performance, and which indicators to watch</li>
</ul>


Within Alibaba (ADR) (BABA US)'s June quarter results, the numbers from logistics arm Cainiao Smart Logistics (1437124D HK) stood out: revenue up 34% Y/Y, &amp; EBITA turned to +ive
In this insight we attempt to place Cainiao's stellar results into context: it grew far faster than parent Alibaba's revenue, but also faster than Chinese e-comm and Chinese express
As Cainiao preps for its IPO, its June results should boost investors' confidence. The numbers also hint at what is driving Cainiao's recent performance, and which indicators to watch


With A Long-Anticipated IPO on the Horizon, Alibaba's Cainiao Posts Stellar June Quarter Results

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.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cainiao-smart-logistics-network-ltd" target="_blank" data-smartkarma-citation="entities:36859:1" rel="noopener">Cainiao Smart Logistics</a> ,  <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd-d7b798e2-202d-4e01-9a1e-799e2ae8f0c7" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group Holding (9988 HK)</a>’s logistics linked arm, is planning to raise at least US$1bn in its Hong Kong IPO.</li>
<li>Cainiao is the largest provider of cross-border e-commerce logistics services globally and a leader in China logistics services, according to CIC.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Cainiao Smart Logistics ,  Alibaba Group Holding (9988 HK)’s logistics linked arm, is planning to raise at least US$1bn in its Hong Kong IPO.
Cainiao is the largest provider of cross-border e-commerce logistics services globally and a leader in China logistics services, according to CIC.
In this note, we talk about the positive aspects of the deal.


Cainiao Pre-IPO - The Postivies - Evolving into a Global Player, Decent Revenue Growth

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

<ul>
<li>
<a href="https://www.smartkarma.com/entities/4paradigm" target="_blank" data-smartkarma-citation="entities:34465:1" rel="noopener">4Paradigm (6682 HK)</a> raised around US$131m in its Hong Kong IPO. </li>
<li>4P is a platform-centric AI enterprise solutions provider. It was the largest player by revenue in the platform-centric decision-making AI market in China in 2022, as per CIC. </li>
<li>We have covered various aspects of the deal in our previous notes. In this note, we will talk about the demand and trading dynamics.</li>
</ul>



4Paradigm (6682 HK) raised around US$131m in its Hong Kong IPO. 
4P is a platform-centric AI enterprise solutions provider. It was the largest player by revenue in the platform-centric decision-making AI market in China in 2022, as per CIC. 
We have covered various aspects of the deal in our previous notes. In this note, we will talk about the demand and trading dynamics.


4Paradigm IPO Trading - Low Insti Subscription and Small Float

Alibaba Group Holding  / Equity Capital Markets

<ul>
<li>On 28th Mar 2023, <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba (ADR) (BABA US)</a> announced that it would adopt a new organizational and governance structure, splitting into six major business groups and other investments.</li>
<li>Alibaba also stated that each of the business groups would be set up as an independent entity with its own board and the groups will eventually seek to list.</li>
<li>In our previous note, we highlighted which division could list. In this note, we will look at Cainiao.</li>
</ul>


On 28th Mar 2023, Alibaba (ADR) (BABA US) announced that it would adopt a new organizational and governance structure, splitting into six major business groups and other investments.
Alibaba also stated that each of the business groups would be set up as an independent entity with its own board and the groups will eventually seek to list.
In our previous note, we highlighted which division could list. In this note, we will look at Cainiao.


Alibaba Potential IPOs - Part 2 - An Early Look at Cainiao, US$10bn+

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

Equity Bottom-Up

<ul>
<li>Kanzhun or Boss Zhipin, is the largest online recruiting platform for white collar workers.</li>
<li>Users exceeded servers’ capacity for the third time this year.</li>
<li>The positive signal is that recruiters began to grow in 2Q23.</li>
</ul>


Kanzhun or Boss Zhipin, is the largest online recruiting platform for white collar workers.
Users exceeded servers’ capacity for the third time this year.
The positive signal is that recruiters began to grow in 2Q23.


Kanzhun (2076 HK): A Monitor of Job Market in China

China

PDD Holdings Inc. is a multinational commerce group that owns and operates a portfolio of businesses. The Company focuses on digital economy so that local communities and small businesses can benefit from the increased productivity and new opportunities. PDD Holdings has built a network of sourcing, logistics, and fulfillment capabilities for its underlying businesses.

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PDD Holdings (PDD US)

With A Long-Anticipated IPO on the Horizon, Alibaba's Cainiao Posts Stellar June Quarter Results

In response to the news CaiNiao Smart Logistics has applied to list its shares in Hong Kong, we're re-upping this insight

Tracking Traffic

Cainiao Pre-IPO - The Postivies - Evolving into a Global Player, Decent Revenue Growth

Cainiao Smart Logistics , Alibaba Group Holding (9988 HK)’s logistics linked arm, is planning to raise at least US$1bn in its Hong Kong IPO.

Sumeet Singh

4Paradigm IPO Trading - Low Insti Subscription and Small Float

4Paradigm (6682 HK) raised around US$131m in its Hong Kong IPO. We have covered various aspects of the deal in our previous notes. In this note, we...

Ethan Aw

Alibaba Potential IPOs - Part 2 - An Early Look at Cainiao, US$10bn+

Alibaba has confirmed that Cainiao will the first mini-Baba to list on its own. Baba in its filing stated that it obtained HKEX approval for the...

Sumeet Singh

Kanzhun (2076 HK): A Monitor of Job Market in China

Users exceeded servers’ capacity for the third time this year. However, the positive signal is that recruiters began to grow.

Ming Lu

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