In today’s briefing:
- CALB Pre-IPO – The Negatives – Lots of Shareholder Re-Shuffling
- WM Motor IPO Initiation: Electric Jitters
- Pre-IPO OrbusNeich Medical Group – The Industry, the Business and the Concerns
CALB Pre-IPO – The Negatives – Lots of Shareholder Re-Shuffling
- CALB aims to raise around US$1.5bn in its Hong Kong IPO.
- CALB undertakes design, R&D, production and sales of EV batteries and Energy Storage Systems (ESS) products.
- In this note, we will talk about the not so positive aspects of the deal.
WM Motor IPO Initiation: Electric Jitters
- WM Motor Technology Co Ltd (WMT CH), an EV manufacturer, has filed for a US$1 billion IPO on the HKEx. It recently raised US$595.7 million at a US$7 billion valuation.
- In line with industry trends and listed Chinese peers, WM Motor rapidly grew its vehicle deliveries in 2021. Price increases and a good roadmap support future growth.
- WM Motor is sub-scale vs peers pointing to an uncertain path to profitability. As the era of being rewarded for growth at any cost is over, the timing feels off.
Pre-IPO OrbusNeich Medical Group – The Industry, the Business and the Concerns
- OrbusNeich Medical Group (NEICHZ HK) has a rich pipeline with a leadership position in the PCI balloon markets.
- Its global business layout would also help the Company “hedge” the negative domestic policy impact or regulation changes.
- However, the fierce competition, market pattern, industry characteristics, centralized procurement and other concerns should not be neglected.
Before it’s here, it’s on Smartkarma
