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

Tencent (700 HK) 3Q23 Earnings Preview: No Concern on EPS Decline, 58% Upside

Tencent (700 HK): Raise Margin Estimates After 3Q23 Results, 30% Upside, Buy

Tencent/Netease: Game Approval Skewed Towards Netease in '23

Tencent/Netease: Game Approval Rotation in May

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

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>China just announced game approval for September batch. The number of games approved is in-line with the pace of approval in recent month.</li>
<li>Pace of China game approval stays flattish, at a much slower pace than pre-tightening.</li>
<li>Neither Tencent or Netease received approval for any game. Same thing happened for July batch.</li>
</ul>


China just announced game approval for September batch. The number of games approved is in-line with the pace of approval in recent month.
Pace of China game approval stays flattish, at a much slower pace than pre-tightening.
Neither Tencent or Netease received approval for any game. Same thing happened for July batch.


Tencent/Netease: Zeroed for Two Rounds of Game Approval