IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

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<li>
<a href="https://www.smartkarma.com/entities/huitongda" target="_blank" data-smartkarma-citation="entities:33789:1" rel="noopener">Huitongda (1566215D CH)</a> is a fast-growing commerce and service platform focused on China’s lower-tier retail market. It will launch an HKEx IPO on Monday to raise up to US$318 million.</li>
<li>In <a href="https://www.smartkarma.com/insights/huitongda-network-ipo-initiation-clicks-to-bricks" target="_blank" data-smartkarma-citation="insights:63428" rel="noopener">Huitongda Network IPO Initiation: Clicks to Bricks</a>, we noted the positives (addressable market, solid growth and profitability) and key negatives (low margins which reflect a fragmented and competitive market).   </li>
<li>For investors willing to brave the gloomy IPO market, our valuation analysis suggests that the IPO price range is attractive at the low end of the price range. </li>
</ul>



Huitongda (1566215D CH) is a fast-growing commerce and service platform focused on China’s lower-tier retail market. It will launch an HKEx IPO on Monday to raise up to US$318 million.
In Huitongda Network IPO Initiation: Clicks to Bricks, we noted the positives (addressable market, solid growth and profitability) and key negatives (low margins which reflect a fragmented and competitive market).   
For investors willing to brave the gloomy IPO market, our valuation analysis suggests that the IPO price range is attractive at the low end of the price range. 


Huitongda Network IPO: Valuation Insights