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

JOINN Laboratories IPO: Valuation First Look

JOINN Laboratories IPO: Valuation Insights

JOINN Laboratories IPO Initiation: On-Demand Science

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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

Joinn Laboratories China  Lt / Equity Capital Markets

<div><p><a href="https://www.smartkarma.com/entities/joinn-laboratories-china-co-a" target="_blank" data-smartkarma-citation="entities:28273:1" rel="noopener">Joinn Laboratories China Co-A (603127 CH)</a> is a global contract research organisation (CRO). JOINN is the largest CRO in non-clinical drug safety assessment in China with a revenue market share of 15.5% in 2019 and ranked the third among the world’s non-clinical drug safety assessment CRO’s as measured by revenues in 2019, according to Frost &amp; Sullivan. JOINN is seeking to raise as much as $600 million through a Hong Kong IPO, according to press reports.</p></div><div><p>In <a href="https://www.smartkarma.com/insights/joinn-laboratories-ipo-initiation-on-demand-science" target="_blank" data-smartkarma-citation="insights:47482" rel="noopener">JOINN Laboratories IPO Initiation: On-Demand Science</a>, we stated that JOINN potentially gives investors another avenue to gain exposure to the China CRO industry. On balance, we concluded that JOINN’s fundamentals are attractive as the positives outweigh the negatives. </p></div><div><div><div class="content-highlight"><p>In this note, we look at the PHIP which disclose the 9M20 results and recent developments. Overall, we continue to believe that JOINN is worth a closer look and has attractive fundamentals. </p></div></div></div>

Joinn Laboratories China Co-A (603127 CH) is a global contract research organisation (CRO). JOINN is the largest CRO in non-clinical drug safety assessment in China with a revenue market share of 15.5% in 2019 and ranked the third among the world’s non-clinical drug safety assessment CRO’s as measured by revenues in 2019, according to Frost &amp; Sullivan. JOINN is seeking to raise as much as $600 million through a Hong Kong IPO, according to press reports.In JOINN Laboratories IPO Initiation: On-Demand Science, we stated that JOINN potentially gives investors another avenue to gain exposure to the China CRO industry. On balance, we concluded that JOINN’s fundamentals are attractive as the positives outweigh the negatives. In this note, we look at the PHIP which disclose the 9M20 results and recent developments. Overall, we continue to believe that JOINN is worth a closer look and has attractive fundamentals. 

Hangzhou Tigermed Consulting (A) (300347 CH)

JOINN Laboratories IPO: PHIP Points to Progress