In today’s briefing:
- 2023 High Conviction Ideas: Meituan
- Growatt Technology Pre-IPO – Still Looks Good, Updated Thoughts on Valuation
- Shanghai/Shenzhen Southbound Connect: Weekly Moves (25 November 2022)
- Chinese Property Weekly – 25 November 2022 – Lucror Analytics
- Chinese Property Weekly – 25 November 2022 – Lucror Analytics
- Shanghai/Shenzhen Northbound Connect: Weekly Moves (25 November 2022)
- TS Group (Global) Pre-IPO Tearsheet
- Weekly Wrap – 25 Nov 2022
- Weekly Wrap – 25 Nov 2022
2023 High Conviction Ideas: Meituan
- Meituan is a leading “service e-commerce” platform in China, leveraging technology to connect consumers with merchants.
- With the gradual re-opening in 2023, core local commerce will deliver better than expected result.
- Tencent’s distribution of Meituan shares provides a good entry point.
Growatt Technology Pre-IPO – Still Looks Good, Updated Thoughts on Valuation
- Growatt Technology (1833969D CH) is looking to raise about US$1bn in its upcoming Hong Kong IPO.
- Growatt Technology is a global distributed energy solution provider, specializing in sustainable energy generation, storage and consumption, as well as energy digitalization.
- In our previous notes, we looked at various aspects of the company’s performance. In this note, we’ll provide our updated thoughts on the company’s valuation.
Shanghai/Shenzhen Southbound Connect: Weekly Moves (25 November 2022)
- Inside is a recap of movements in the last week relating to the Shanghai and Shenzhen-Hong Kong Stock Connect facilities, broken down by company and industry.
- Overall, the net inflow over the past week was ~HK$0.67bn, split (+HK$0.1bn) for Shanghai and (+HK$0.57bn) for Shenzhen.
- The largest inflows were in Tencent (700 HK) and Tracker Fund of Hong Kong Ltd (2800 HK). The largest outflows were in Meituan (3690 HK) and Li Ning (2331 HK).
Chinese Property Weekly – 25 November 2022 – Lucror Analytics
The Chinese Property Weekly focuses on providing updates in the Chinese real-estate sector, including recent regulatory and company developments, top and bottom performers, rating actions, as well as a list of bond maturities in the next 30 days.
Chinese Property Weekly – 25 November 2022 – Lucror Analytics
The Chinese Property Weekly focuses on providing updates in the Chinese real-estate sector, including recent regulatory and company developments, top and bottom performers, rating actions, as well as a list of bond maturities in the next 30 days.
Shanghai/Shenzhen Northbound Connect: Weekly Moves (25 November 2022)
- Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.
- Overall, net inflow over the past week was ~US$0.83bn, split between Shanghai (+US$1.16bn) and Shenzhen (-US$0.32bn).
- The largest inflows were into Kweichow Moutai (600519 CH) and Shenzhen Mindray Bio-Medical (300760 CH). The largest outflows were in Yunnan Energy New Material (002812 CH) and BYD (002594 CH).
TS Group (Global) Pre-IPO Tearsheet
- TS Group (Global) (TS HK) is looking to raise at least US$100m in its upcoming Hong Kong IPO. The bookrunners are JPM, and China Merchant Securities.
- TS Group (Global) is a container shipping firm primarily focusing on the Asia region, which as per the Drewry report, is the largest and one of the fastest growing regions.
- As of Jun 2022, it had a total of 52 vessels, consisting of 26 owned vessels and 26 chartered-in vessels, with a total capacity of 107,907 total equivalent units (TEU).
Weekly Wrap – 25 Nov 2022
Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:
- China Jinmao Holdings
- Guangzhou R&F Properties
- Sunac China Holdings
- Evergrande
- Central China Real Estate
and more…
Weekly Wrap – 25 Nov 2022
Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:
- China Jinmao Holdings
- Guangzhou R&F Properties
- Sunac China Holdings
- Evergrande
- Central China Real Estate
and more…
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