In today’s briefing:
- Weekly Deals Digest (30 Jun) – China TCM, Henlius, Midea RE, MMG, Aisin, Sanil, Shift Up
- (Mostly) Asia-Pac M&A: TCM, Henlius Bio, Mideal Real Estate, Malaysia Airports, S Line, Best World
- Polestar Automotive Holding UK: A Tale Of An Enhanced Product Mix and Margin Improvement Strategy! – Major Drivers
- Tencent Music Entertainment Group: How Are They Enhancing User Engagement through Artificial Intelligence? – Major Drivers
- SF Holding Pre-IPO: Dominance in Domestic Time-Definite (Air) Express Is a Durable Differentiator
Weekly Deals Digest (30 Jun) – China TCM, Henlius, Midea RE, MMG, Aisin, Sanil, Shift Up
- A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
- ECM developments: MMG (1208 HK) rights issue, Aisin (7259 JP) placement, Sanil Electric (062040 KS) IPO, and Shift Up (462870 KS) IPO.
- Event-Driven developments: China Traditional Chinese Medicine (570 HK), Shanghai Henlius Biotech (2696 HK), Midea Real Estate Holding (3990 HK), Best World International (BEST SP).
(Mostly) Asia-Pac M&A: TCM, Henlius Bio, Mideal Real Estate, Malaysia Airports, S Line, Best World
- I tally 49 – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
- One. new deal was discussed this week: Shanghai Henlius Biotech (2696 HK)‘s cash/scrip Offer. Midea Real Estate Holding (3990 HK) also fielded a “Partial Scheme”.
- Key updates took place on: China Traditional Chinese Medicine (570 HK), Malaysia Airports Holdings (MAHB MK), S Line Co Ltd (9078 JP), Best World International (BEST SP) .
Polestar Automotive Holding UK: A Tale Of An Enhanced Product Mix and Margin Improvement Strategy! – Major Drivers
- Polestar presented a mixed but broadly positive financial picture in the third quarter of 2023.
- The company, known for its focus on electric vehicles, reported record third-quarter deliveries of 13,976 units, marking a significant 51% increase from the previous year.
- This robust performance can be attributed to a positive product and channel mix and the initial rollout of the Polestar 2’s model year ’24, illustrating a strong consumer demand for Polestar’s offerings.
Tencent Music Entertainment Group: How Are They Enhancing User Engagement through Artificial Intelligence? – Major Drivers
- Tencent Music Entertainment Group, a leading player in China’s music streaming industry, started the year 2024 with some substantial financial and operational achievements, reflecting its continued emphasis on a dual-engine strategy of content richness and platform optimization.
- However, not all indicators were uniformly positive, revealing certain challenges and strategic pivots.
- On the upside, Tencent Music reported a marked increase in its subscriber base, adding a record 6.8 million net subscribers during the quarter, which pushes the total count to 113.5 million music-paying users.
SF Holding Pre-IPO: Dominance in Domestic Time-Definite (Air) Express Is a Durable Differentiator
- SF Holding’s time-definite express service differentiates it from Chinese rivals
- We believe SF dominates China’s domestic inter-city air express segment
- High exposure to air service mostly beneficial, with few risks, in our view
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