In today’s briefing:
- ECM Weekly (1st Oct 2023) – Cainiao, J&T, Kokusai, Seoul Guarantee, Ecopro, Leapmotor, Bajaj Finance
- China Healthcare Weekly (Sep.29) – Be Rational About Biotech Investment, R&D Team Layoffs, Huadong
ECM Weekly (1st Oct 2023) – Cainiao, J&T, Kokusai, Seoul Guarantee, Ecopro, Leapmotor, Bajaj Finance
- Aequitas Reserach puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- In the IPO space, Cainiao Smart Logistics finally set the ball rollling for Alibaba (ADR) (BABA US)‘s restrucuting, by filing for an HK listing
- In the placement space, Star Entertainment Group (SGR AU) was back in the market again, while Zhejiang Leapmotor Technologie (9863 HK) and DPC Dash (1405 HK) came of lock-ups.
China Healthcare Weekly (Sep.29) – Be Rational About Biotech Investment, R&D Team Layoffs, Huadong
- We have discovered something interesting from the innovative drug evaluations disclosed by the NMPA over the years. It’s recommended to establish rational expectations for the investment return of biopharmaceutical industry.
- We analyzed the different situations faced by Biotech in IPO/M&A process, so as to help investors make rational judgments. R&D team is likely to be cut regardless of the circumstances.
- We updated views on Huadong. Its old businesses dragged down valuation. It may need to wait until Huadong delivers better-than-expected sales/profit growth in weight-loss management business before further boosting valuation.
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