ECM Weekly (16th July 2023) - LG Energy, Socionext, Plus Alpha, Syngenta, Cinema XXI, Genda, Fadu
Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
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Hong Kong Buybacks Weekly (Jul 14th): Tencent, AIA, Xiaomi
We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...
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China TMT Update-Premier's Symposium;a Summary of Meituan Vs Douyin;feedbacks of Amazon Prime Day
Premier Li Qiang chaired a symposium with internet platform enterprises; A summary of recent Meituan local news; Chinese merchants' feedbacks of...
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Fadu IPO - Thoughts on Valuation
Fadu (440110 KS) is looking to raise up to US$147m in its Korean IPO. Previously, we looked at the company’s past performance and undertook a peer...
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[Tencent (700 HK, BUY, TP HK$450) TP Change]: "DNF Mobile" And Strong Ads Are Two Catalysts
We expect that Tencent's 2Q23’s rev./non-IFRS net income to be 0.2%/5.2% vs cons. We raise the TP to $450, which implies 20.1X PE in 2023.
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