In today’s briefing:
- Huitongda (汇通达) IPO – Not the Right Price
- Pre-IPO HeMo Bioengineering – Insights on Industry, Business and Concerns
Huitongda (汇通达) IPO – Not the Right Price
- Huitongda (9878 HK) is looking to raise up to US$318m in its Hong Kong IPO.
- Huitongda (HTD) is a leading commerce and service platform serving businesses in the lower-tier retail markets of China.
- In this note, we will look at deal dynamics, assumptions, and share our thoughts on valuation.
Pre-IPO HeMo Bioengineering – Insights on Industry, Business and Concerns
- It is worth rejoicing that HeMo Bioengineering (HMB HK) has entered commercialization stage, but some of the key products are in-licensed from other companies, not self-developed.
- In front of fierce competition and policy impact, how to establish its high moat in R&D, innovation and commercialization capability would be the key factors to support long-term development.
- Our view is that opportunities coexist with challenges, and investors should also pay attention to the market sentiment towards new IPOs at that time.
Before it’s here, it’s on Smartkarma
