TMT: Capcom Co Ltd, CATL (A), Qingdao Ainnovation Technology Group Co Ltd, Warung Pintar, Tanla Platforms and more

• We had expected 3Q results for Capcom to be unsurprising given a lack of new titles and OP of ¥6.17bn was in line with consensus at ¥6.23bn. 
• The launch of Monster Hunter Rise for PC did not go as smoothly as we hoped but the trend appears to be improving. 
• All in all FY OP looks set to slightly beat consensus and guidance for better than double digit growth is likely in our view.

• In this analysis, we review allocations in Contemporary Amperex Technology among 3 sets of active China managers.  MSCI China Funds, China A-Share Funds and Greater China Funds. 
• We find that exposure in Contemporary Amperex Technology has risen to peak levels across all 3 investor sets, making it one of the largest overweight positions in China.
• Outside of dedicated China, we also see ownership growth among Global Emerging Market and Asia Ex-Japan active strategies.

• Qingdao Ainnovation Technology Group Co Ltd (1853807D CH) raised around US$151m after pricing its IPO at HKD26.3/share, at the bottom end of its IPO price range.
• Qingdao AInnovation Technology Group is an AI solutions provider offering full-stack AI-based products and solutions.
• In this note, we will look at the trading dynamics and current valuation.

• Sirclo, an Indonesia-based ecommerce enabler, has announced that it is set to acquire Warung Pintar
• The value of the deal is undisclosed, but the process is expected to be completed within the first quarter of this year
• Sirclo said that the deal helps its plan to offer more comprehensive online and offline commerce solutions for its clients

Tanla Platforms: Tanla reported a decent quarter with a slight miss on revenue (INR 8.8bn vs. estimate of INR 9.1bn) but better-than-expected margin performance. The gross margin of enterprise business improved +244bps QoQ to 24.6%, powered by a better mix. While enterprise growth was led by the BFSI, wholesale and government verticals, higher messaging volumes from enterprises were a result of festive season and marketing campaigns. The next phase of growth in the platform business will be powered by Wisely, whose commercial launch is expected in March 2022.