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

Zhihu Technology / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/zhihu-technology-ltd" target="_blank" data-smartkarma-citation="entities:32185:1" rel="noopener">Zhihu Technology (ZH US)</a> is the largest Q&amp;A-inspired online community and one of the top five comprehensive online content communities in China, both in terms of average mobile MAUs and revenue in 2020, according to CIC. Zhihu is acknowledged as the first choice among all online content communities in China where people look for information to make decisions or find answers, according to CIC.</p><p>Zhihu is backed by <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent Holdings (700 HK)</a> (12.3% of outstanding shares, 7.1% of voting interest), <a href="https://www.smartkarma.com/entities/beijing-kuaishou-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:29725:1" rel="noopener">Kuaishou Technology (1024 HK)</a> (8.3% of outstanding shares, 4.8% of voting interest) and <a href="https://www.smartkarma.com/entities/baidu-inc" target="_blank" data-smartkarma-citation="entities:179:1" rel="noopener">Baidu (BIDU US)</a> (5.0% of outstanding shares, 2.9% of voting interest). Zhihu has filed for an NYSE IPO to raise proceeds of $1 billion, according to press reports. </p><p>Online content communities have a high level of user engagement, which enables them to pursue a wide variety of monetisation opportunities, resulting in more sustainable business models. Q&amp;A content by nature encourages a high level of user interaction and stirs sharing of knowledge, experience and insights. Crucially, users are progressively demanding quality online content and have shown a growing willingness to pay for them. Over 80% of surveyed users are willing to pay more for high-quality online content in the future, according to CIC. Also, merchants and brands in China increasingly use online content communities for marketing services to help develop a brand narrative that can appeal to customers and drive conversion.</p><div class="content-highlight"><p>As the largest Q&amp;A-inspired online community, Zhihu is well-positioned to benefit from these favourable trends. Overall, we believe that Zhihu’s fundamentals are attractive.</p></div>

Zhihu Technology (ZH US) is the largest Q&amp;A-inspired online community and one of the top five comprehensive online content communities in China, both in terms of average mobile MAUs and revenue in 2020, according to CIC. Zhihu is acknowledged as the first choice among all online content communities in China where people look for information to make decisions or find answers, according to CIC.Zhihu is backed by Tencent Holdings (700 HK) (12.3% of outstanding shares, 7.1% of voting interest), Kuaishou Technology (1024 HK) (8.3% of outstanding shares, 4.8% of voting interest) and Baidu (BIDU US) (5.0% of outstanding shares, 2.9% of voting interest). Zhihu has filed for an NYSE IPO to raise proceeds of $1 billion, according to press reports. Online content communities have a high level of user engagement, which enables them to pursue a wide variety of monetisation opportunities, resulting in more sustainable business models. Q&amp;A content by nature encourages a high level of user interaction and stirs sharing of knowledge, experience and insights. Crucially, users are progressively demanding quality online content and have shown a growing willingness to pay for them. Over 80% of surveyed users are willing to pay more for high-quality online content in the future, according to CIC. Also, merchants and brands in China increasingly use online content communities for marketing services to help develop a brand narrative that can appeal to customers and drive conversion.As the largest Q&amp;A-inspired online community, Zhihu is well-positioned to benefit from these favourable trends. Overall, we believe that Zhihu’s fundamentals are attractive.

China

Zhihu Inc. operates as an online share knowledge community. The Company provides a socialized website for questions and answers which enables users to obtain information through questions that provoke the opinions and views from answerers as individuals. Zhihu conducts businesses in China.

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Zhihu Technology (ZH US)

Zhihu IPO Initiation: Question Time

Zhihu has filed for an NYSE IPO to raise proceeds of $1 billion, according to press reports. Overall, we believe that Zhihu’s fundamentals are...

Arun George

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