IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Qingdao Ainnovation Technology Group / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ainnovation-technology" target="_blank" data-smartkarma-citation="entities:35386:1" rel="noopener">AInnovation Technology (AIT HK)</a> is a fast-growing enterprise AI solutions provider in China. It has launched an HKEx IPO to raise up to US$157 million. </li>
<li>In <a href="https://www.smartkarma.com/insights/ainnovation-technology-ipo-initiation-code-amber" target="_blank" data-smartkarma-citation="insights:63587" rel="noopener">AInnovation Technology IPO Initiation: Code Amber</a>, we stated that the negatives outweigh the positives and we would give the IPO a pass.</li>
<li>Our valuation analysis suggests that the IPO price is fair. Due to our concerns about the fundamentals, we remain on the sidelines. Pricing is 20 January, listing on 27 January.</li>
</ul>



AInnovation Technology (AIT HK) is a fast-growing enterprise AI solutions provider in China. It has launched an HKEx IPO to raise up to US$157 million. 
In AInnovation Technology IPO Initiation: Code Amber, we stated that the negatives outweigh the positives and we would give the IPO a pass.
Our valuation analysis suggests that the IPO price is fair. Due to our concerns about the fundamentals, we remain on the sidelines. Pricing is 20 January, listing on 27 January.


AInnovation Technology IPO: Valuation Insights

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC 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/qingdao-ainnovation-technology-group-co-ltd" target="_blank" data-smartkarma-citation="entities:35405:1" rel="noopener">Qingdao Ainnovation Technology Group Co Ltd (1853807D CH)</a> is looking to raise up to US$157m in its Hong Kong IPO.</li>
<li>Qingdao AInnovation Technology Group is an AI solutions provider offering full-stack AI-based products and solutions. </li>
<li>While we don’t have a fundamental issue with the listing, at asking valuations, the firm appears to be fairly valued with limited upside on its FY23 numbers. </li>
</ul>



Qingdao Ainnovation Technology Group Co Ltd (1853807D CH) is looking to raise up to US$157m in its Hong Kong IPO.
Qingdao AInnovation Technology Group is an AI solutions provider offering full-stack AI-based products and solutions. 
While we don’t have a fundamental issue with the listing, at asking valuations, the firm appears to be fairly valued with limited upside on its FY23 numbers. 


Qingdao AInnovation Technology Group IPO - Fairly Valued with Mediocre Cornerstones

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ainnovation-technology" target="_blank" data-smartkarma-citation="entities:35386:1" rel="noopener">AInnovation Technology (AIT HK)</a> is a fast-growing enterprise AI solutions provider in China. It is set to launch an HKEx IPO to raise up to US$157 million.  </li>
<li>The fundamentals are mixed as diverging growth profiles of key segments, low market share and cash burn are accompanied by a narrowing loss margin. </li>
<li>Overall, we believe the negatives outweigh the positives and we would give the IPO a pass. </li>
</ul>



AInnovation Technology (AIT HK) is a fast-growing enterprise AI solutions provider in China. It is set to launch an HKEx IPO to raise up to US$157 million.  
The fundamentals are mixed as diverging growth profiles of key segments, low market share and cash burn are accompanied by a narrowing loss margin. 
Overall, we believe the negatives outweigh the positives and we would give the IPO a pass. 


AInnovation Technology IPO Initiation: Code Amber

<ul>
<li>
<a href="https://www.smartkarma.com/entities/qingdao-ainnovation-technology-group-co-ltd" target="_blank" data-smartkarma-citation="entities:35405:1" rel="noopener">Qingdao Ainnovation Technology Group Co Ltd (1853807D CH)</a> is looking to raise up to US$200m in its Hong Kong IPO.</li>
<li>Qingdao AInnovation Technology Group is an AI solutions provider offering full-stack AI-based products and solutions. </li>
<li>While revenue has grown since inception, margin improvement can’t be attributed solely to better cost controls. It also has an unproven track record and operates in a highly fragmented market. </li>
</ul>



Qingdao Ainnovation Technology Group Co Ltd (1853807D CH) is looking to raise up to US$200m in its Hong Kong IPO.
Qingdao AInnovation Technology Group is an AI solutions provider offering full-stack AI-based products and solutions. 
While revenue has grown since inception, margin improvement can’t be attributed solely to better cost controls. It also has an unproven track record and operates in a highly fragmented market. 


Qingdao AInnovation Technology Group Pre-IPO - Has Grown Fast, but Holds an Unproven Track Record

China

Qingdao AInnovation Technology Group is an AI solutions provider offering full-stack AI-based products and solutions. According to Frost & Sullivan (F&S), the firm was the third largest AI technology driven solution provider in the enterprise AI solutions market in China in terms of 2020 revenue.

Qingdao Ainnovation Technology Group (2121 HK)

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Qingdao Ainnovation Technology Group (2121 HK)

AInnovation Technology IPO: Valuation Insights

Our valuation analysis suggests that AInnovation is fully priced at the IPO price range. Due to our concerns about the fundamentals, we remain on...

Arun George

Qingdao AInnovation Technology Group IPO - Fairly Valued with Mediocre Cornerstones

Qingdao Ainnovation Technology Group Co Ltd (1853807D CH) is looking to raise up to US$157m in its Hong Kong IPO. It is an AI solutions provider...

Clarence Chu

AInnovation Technology IPO Initiation: Code Amber

AInnovation is set to launch an HKEx IPO to raise up to US$157 million. Overall, we believe the negatives outweigh the positives and we would give...

Arun George

Qingdao AInnovation Technology Group Pre-IPO - Has Grown Fast, but Holds an Unproven Track Record

Qingdao Ainnovation Technology Group Co Ltd (1853807D CH) is looking to raise up to US$200m in its Hong Kong IPO. It is an AI solutions provider...

Clarence Chu

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)