Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

An inquisitive investment analyst with background in both finance and computing. Covering ECM research, biotech, market data analytics.

Asia Pac IPO & Placement Research, China biotech

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IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Neusoft Medical Systems / Equity Capital Markets

Neusoft Medical Systems, a leading medical imaging device provider in China, plans to raise up to USD 400m via a Hong Kong listing.The company's source of revenue came from the sales of medical devices, mostly the CT scanners, complemented by other imaging devices, as well as IVD devices (mainly ACAs) and value-add services such as service and trading, as well as computer aided diagnostics. We think the company is not attractive despite the selling point of value-add services. Only if the monetization of the data and software services became the main source of profit does the company worth a re-rating.

Neusoft Medical Systems, a leading medical imaging device provider in China, plans to raise up to USD 400m via a Hong Kong listing.The company's source of revenue came from the sales of medical devices, mostly the CT scanners, complemented by other imaging devices, as well as IVD devices (mainly ACAs) and value-add services such as service and trading, as well as computer aided diagnostics. We think the company is not attractive despite the selling point of value-add services. Only if the monetization of the data and software services became the main source of profit does the company worth a re-rating. 

Neusoft Medical Systems (东软医疗系统) Pre-IPO: Unattractive Fundamentals