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.

Equity Capital Markets

Sunshine Insurance Group  Lt / Equity Capital Markets

<ul>
<li>Sunshine Insurance Group (SIG), a life, health and P&amp;C insurance company, aims to raise up to US$1bn in its HK IPO.</li>
<li>SIG is an integrated insurance provider which offers both life and health (L&amp;H) and property and casualty (P&amp;C) insurance in China.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>


Sunshine Insurance Group (SIG), a life, health and P&amp;C insurance company, aims to raise up to US$1bn in its HK IPO.
SIG is an integrated insurance provider which offers both life and health (L&amp;H) and property and casualty (P&amp;C) insurance in China.
In this note, we talk about the positive aspects of the deal.


Sunshine Insurance Group Pre-IPO - The Positives - Steady Headline Growth

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

Alibaba Group Holding  / Technical Analysis

<ul><li>The YTD performance of HSI -22%, HSI Tech Index -35%, HSI Properties -18.6%, and continued 23-25% short trading volume are set up for sharp rallies.</li><li>Investment banks and brokers forecast economic recovery for buying in Q4 2022 or 2023.</li><li>Overall volume continues to fall [something evident from HKEX share price as well].</li></ul>

The YTD performance of HSI -22%, HSI Tech Index -35%, HSI Properties -18.6%, and continued 23-25% short trading volume are set up for sharp rallies.Investment banks and brokers forecast economic recovery for buying in Q4 2022 or 2023.Overall volume continues to fall [something evident from HKEX share price as well].

<ul><li>The carnage in China and some Hong Kong real estate and property management companies and financials went largely unnoticed.</li><li>The five-day decline in Longfor was 18%, Country Garden by 15.50%, Hang Seng Mainland Properties Index fell 6.75%, and HSI Properties Index fell 2.75%.</li><li>It has had zero impact on the rest of the world (ROW) markets.</li></ul>

The carnage in China and some Hong Kong real estate and property management companies and financials went largely unnoticed.The five-day decline in Longfor was 18%, Country Garden by 15.50%, Hang Seng Mainland Properties Index fell 6.75%, and HSI Properties Index fell 2.75%.It has had zero impact on the rest of the world (ROW) markets.

HSI Index: Longfor, Alibaba, Ping An, and Tencent

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul>
<li>
Cover Story: How bad is China’s manufacturing exodus? 
</li>
<li>
Goldman’s China wealth management venture gets OK to launch business 
</li>
<li>
China regulator issues draft rules for private pension investment products 
</li>
</ul>



Cover Story: How bad is China’s manufacturing exodus? 


Goldman’s China wealth management venture gets OK to launch business 


China regulator issues draft rules for private pension investment products 



CX Daily: How Bad Is China’s Manufacturing Exodus?

Silver Point

Thomas J. Monaco

Independent Insight Provider

Silver Point is a boutique research firm that focuses on the broader financial services sector, with a particular focus on troubled institutions globally. 

Asia Ex Japan

Equity Bottom-Up

<ul>
<li>
Another Weak Number: Waterdrop (WDH.US) reported a third set of losses since its IPO, coming in at a negative CNY 477 mn  - improving CNY 227 mn (32.5%) QOQ; </li>
<li>
High Cumulative Losses: Cumulative losses since its IPO are over CNY 1.5 bn, and represent about 57% of IPO funds raised. Challenges come from weaker revenues and excessive costs; and    </li>
<li>
Notice” To Online Insurers: The CBIRC's roll out of the internet insurance revision plan aims to scrutinize mainland China’s insurance technology platforms. </li>
</ul>



Another Weak Number: Waterdrop (WDH.US) reported a third set of losses since its IPO, coming in at a negative CNY 477 mn  - improving CNY 227 mn (32.5%) QOQ; 

High Cumulative Losses: Cumulative losses since its IPO are over CNY 1.5 bn, and represent about 57% of IPO funds raised. Challenges come from weaker revenues and excessive costs; and    

Notice” To Online Insurers: The CBIRC's roll out of the internet insurance revision plan aims to scrutinize mainland China’s insurance technology platforms. 


Hong Kong

Ping An Securities Group (Holdings) Limited is an investment holding company. The Company, through its subsidiaries, provides a wide range of financial services that includes the provision of securities brokerage, securities underwriting and placements, and financial advisory services in Hong Kong.

Ping An Securities Group (Holdings) (231 HK)

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Ping An Securities Group (Holdings) (231 HK)

Sunshine Insurance Group Pre-IPO - The Positives - Steady Headline Growth

Sunshine Insurance Group (SIG), a life, health and P&C insurance company, aims to raise up to US$1bn in its HK IPO. In this note, we talk about the...

Sumeet Singh

Alibaba, ICBC, Tencent, and Ping An

The YTD performance of HSI -22%, HSI Tech Index -35%, HSI Properties -18.6%, and continued 23-25% short trading volume are set up for sharp rallies.

Untying The Gordian Knot

HSI Index: Longfor, Alibaba, Ping An, and Tencent

The carnage in China and some Hong Kong real estate and property management companies and financials went largely unnoticed.

Untying The Gordian Knot

CX Daily: How Bad Is China’s Manufacturing Exodus?

Cover Story: How bad is China’s manufacturing exodus? Goldman’s China wealth management venture gets OK to launch business

Caixin Global

Waterdrop – Still Bleeding

WATERDROP: Waterdrop reported losses of CNY 477 mn - improving CNY 227 mn or 32.5% linked quarter and bringing cumulative losses since its IPO to...

Thomas J. Monaco

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)