IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zeekr-intelligent-technology-holding" target="_blank" data-smartkarma-citation="entities:36785:1" rel="noopener">ZEEKR (ZK US)</a>, a premium Chinese BEV manufacturer and a subsidiary of <a href="https://www.smartkarma.com/entities/geely-automobile-holdings-ltd" target="_blank" data-smartkarma-citation="entities:127:1" rel="noopener">Geely Auto (175 HK)</a>, has filed for a US$500 million IPO to list on the NYSE.</li>
<li>ZEEKR has launched three models - the luxury shooting brake coupe ZEEKR 001, the luxury pure electric MPV – ZEEKR 009 and the new luxury versatile SUV – ZEEKR X.</li>
<li>The bull case rests on bestselling premium BEVs, rapid vehicle sales growth, rising gross margin, debt-free balance sheet and a favourable cash conversion cycle.</li>
</ul>



ZEEKR (ZK US), a premium Chinese BEV manufacturer and a subsidiary of Geely Auto (175 HK), has filed for a US$500 million IPO to list on the NYSE.
ZEEKR has launched three models - the luxury shooting brake coupe ZEEKR 001, the luxury pure electric MPV – ZEEKR 009 and the new luxury versatile SUV – ZEEKR X.
The bull case rests on bestselling premium BEVs, rapid vehicle sales growth, rising gross margin, debt-free balance sheet and a favourable cash conversion cycle.


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/zeekr-intelligent-technology-holding" target="_blank" data-smartkarma-citation="entities:36785:1" rel="noopener">Zeekr</a>, a premium EV brand by <a href="https://www.smartkarma.com/entities/geely-automobile-holdings-ltd" target="_blank" data-smartkarma-citation="entities:127:1" rel="noopener">Geely Auto (175 HK)</a> , aims to raise around US$500m in its US listing.</li>
<li>Zeekr was formed in Mar 2021 as a JV between Geely and its founder. Its first model was launched in Apr 21 with deliveries starting in Oct 21.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Zeekr, a premium EV brand by Geely Auto (175 HK) , aims to raise around US$500m in its US listing.
Zeekr was formed in Mar 2021 as a JV between Geely and its founder. Its first model was launched in Apr 21 with deliveries starting in Oct 21.
In this note, we talk about the positive aspects of the deal.


Zeekr Pre-IPO - The Positives - Has Been Growing Very Fast While Meeting Its Targets

<ul>
<li>Zeekr, a premium EV brand by Geely, aims to raise around US$1bn (estimated) in its US listing in 1H2023. GS, BofA and MS are said to be running the deal.</li>
<li>Zeekr was formed in Mar 2021 as a JV between Geely and its founder. Its first model was launched in Apr 21 with deliveries starting in Oct 21.</li>
<li>In this note, we take an early look at the IPO based on publicly avaiable information.</li>
</ul>


Zeekr, a premium EV brand by Geely, aims to raise around US$1bn (estimated) in its US listing in 1H2023. GS, BofA and MS are said to be running the deal.
Zeekr was formed in Mar 2021 as a JV between Geely and its founder. Its first model was launched in Apr 21 with deliveries starting in Oct 21.
In this note, we take an early look at the IPO based on publicly avaiable information.


Zeekr IPO Early Look - Possibly US$0 to US$7bn Revenue in Under Three Years

Event-Driven

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<li>
<a href="https://www.smartkarma.com/entities/calb-group-co-ltd" target="_blank" data-smartkarma-citation="entities:35985:1" rel="noopener">CALB Group (3931 HK)</a> raised around US$1.2bn in its Hong Kong IPO in Oct 2022. The lockup on its pre-IPO shareholders will expire tomorrow.</li>
<li>CALB undertakes design, R&amp;D, production and sales of EV batteries and Energy Storage Systems (ESS) products in China.</li>
<li>In this note, we will talk about the lock-up dynamics and updates since our last note.</li>
</ul>



CALB Group (3931 HK) raised around US$1.2bn in its Hong Kong IPO in Oct 2022. The lockup on its pre-IPO shareholders will expire tomorrow.
CALB undertakes design, R&amp;D, production and sales of EV batteries and Energy Storage Systems (ESS) products in China.
In this note, we will talk about the lock-up dynamics and updates since our last note.


CALB IPO Lock-Up - US$2.6bn Lockup Release but Mostly SOE Owned

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

Equity Bottom-Up

WM Motor Technology Co Ltd / Equity Bottom-Up

<ul><li>Troubled Chinese electric-vehicle startup WM Motor Holdings Ltd.’s hopes of a business turnaround were dashed as a white knight investor bailed out of a $2.02 billion takeover.</li><li>Hong Kong-traded Apollo Future Mobility Group Ltd. Friday dropped its planned acquisition of WM and said a related share placement plan will no longer proceed.</li><li>The deal, announced in January, was seen as a survival move for embattled WM as it was intended to float the EV maker in Hong Kong through a backdoor listing.</li></ul>

Troubled Chinese electric-vehicle startup WM Motor Holdings Ltd.’s hopes of a business turnaround were dashed as a white knight investor bailed out of a $2.02 billion takeover.Hong Kong-traded Apollo Future Mobility Group Ltd. Friday dropped its planned acquisition of WM and said a related share placement plan will no longer proceed.The deal, announced in January, was seen as a survival move for embattled WM as it was intended to float the EV maker in Hong Kong through a backdoor listing.

WM Revival Hopes Dashed as Investor Abandons $2.02 Billion Rescue

China

WM Motor Technology Co. Ltd. manufactures automobiles. The Company produces new energy vehicles, shared cars, motor vehicles, and other products. WM Motor Technology also operates automobile technology development, import and export, and other businesses.

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WM Motor Technology Co Ltd (WMT CH)

ZEEKR IPO: The Bull Case

The bull case rests on bestselling premium BEVs, rapid vehicle sales growth, rising gross margin, debt-free balance sheet and a favourable cash...

Arun George

Zeekr Pre-IPO - The Positives - Has Been Growing Very Fast While Meeting Its Targets

Zeekr, a premium EV brand by Geely Auto (175 HK) , aims to raise around US$500m in its US listing. In this note we talk about the positive aspects...

Sumeet Singh

Zeekr IPO Early Look - Possibly US$0 to US$7bn Revenue in Under Three Years

Zeekr, a premium EV brand by Geely, publicly filed for a US IPO overnight. The company had earlier planned to raise over US$1bn.

Sumeet Singh

CALB IPO Lock-Up - US$2.6bn Lockup Release but Mostly SOE Owned

CALB Group (3931 HK) raised around US$1.2bn in its Hong Kong IPO in Oct 2022. The lockup on its pre-IPO shareholders will expire tomorrow.

Sumeet Singh

WM Revival Hopes Dashed as Investor Abandons $2.02 Billion Rescue

Troubled Chinese electric-vehicle startup WM Motor Holdings Ltd.’s hopes of a business turnaround were dashed as a white knight investor bailed...

Caixin Global

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