Overseas Chinese Equities, Aequitas Research

Ming Lu

A veteran with 19-year experience in equity research.

Geographical coverage:
* Companies operating in China, but listed in Hong Kong and the U.S.
* Previously China A-share (listed in mainland China).

Equity sector coverage:
* Chinese App / Internet-based consumption in China, e.g., Alibaba, Tencent, etc.
* Previously covered education, transportation, telecom, power, bank, advertisement, hotel, etc.

Research methods:
* Generally bottom-up.
* Talk to related people on the ground.  Talk to readers and independent writers for analyzing a news portal.  Talk to parents and teachers for analyzing a tutoring school. 
* Visit stores and show photos as evidence in notes.
* Do technical analysis when finding a short-seller attacking an equity.

Languages:
* English
* Mandarin Chinese (Official language of China)
* Shanghainese (Language of Shanghai, the most developed city in China)
* Cantonese (Language of Hong Kong and Canton Province, one of the most developed provinces in China)

Overseas Chinese Equities

China Internet Weekly (Mar 29): Margin Call Punched Chinese Equities, Alibaba Plans Store on Tencent

Tencent Music (TME): Upgrade to Buy for First Time After Plunge

Baidu: Attractive Short Term Entry Point Following SEC Statement and Block Sales

RLX Technology Pre-IPO (RLX): Store Visits to Relx and Its Competitors

RLX Technology IPO Trading - We Won't Be Chasing

RLX Technology IPO - Valuation Has More than Doubled in Two Months

RLX Technology Pre-IPO - Peer Comparison and Valuation

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 Bottom-Up

<ul>
<li>RLX stock price plunged by 48% yesterday.</li>
<li>For selling e-cigarette, a store will need a special license, the same as to sell traditional cigarette.</li>
<li>The law may stop RLX’s expansion via third-party stores.</li>
</ul>


RLX stock price plunged by 48% yesterday.
For selling e-cigarette, a store will need a special license, the same as to sell traditional cigarette.
The law may stop RLX’s expansion via third-party stores.


RLX Tech (RLX): Stock Down 48% After Amendment to Tobacco Law

RLX Technology Inc

RLX Tech (RLX): Stock Down 48% After Amendment to Tobacco Law