Aequitas Research - Alibaba (9988 HK) (9988) ... ECM Weekly (12th June 2022)

Report

Aequitas Research

Sumeet Singh

EUR 116.95 For Business Accounts Only

ECM Weekly (12th June 2022)

Aequitas Research publishes weekly updates on the deals that have been covered by the team recently along with updates for upcoming IPOs in the past week.

13/06/2022 1 EN

Underlyings

Alibaba (9988 HK)

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Alibaba Group Holding Ltd. Sponsored ADR

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US01609W1027 Stuttgart Stock Exchange Cayman Islands

KAKAO CORP

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Kakao Corp.

Kakao is engaged in the provision of Internet services to its users and advertisers. Co. provides its owned and operated online properties and services for its users. Co. provides a range of tools and marketing services designed to enable businesses to reach its users for its advertisers.

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KR7035720002 Korea Stock Exchange South Korea

NET PROTECTIONS HLDGS INC

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JP3758270007 Japan

Provider

Aequitas Research

Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.

Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.

Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.

Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.

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Analysts

Sumeet Singh

Other Reports on these Companies

UOB

Alibaba Group (9988 HK): 4QFY24 preview: Solid CMR and AIDC growth; lacklustre profitability.

Alibaba saw solid consumption momentum in Jan-Feb 24 on its platform and slight moderation in March with its continuous focus on user needs. We expect revenue to grow 6% yoy for 4QFY24, fuelled by better CMR growth. For FY25, Alibaba will continue to focus on user experience and investment in AIDC to foster revenue growth amid a highly competitive environment. Maintain BUY with a lower target price of HK$92.00 (US$92.00).

April 11, 2024 April 11, 2024 1 EN

UOB

Greater China Daily: Thursday, April 11, 2024

KEY HIGHLIGHTS Sector IT Hardware AI Hardware: Elevated investment to bolster investor confidence. Maintain OVERWEIGHT. Update Alibaba Group (9988 HK/BUY/HK$70.50/Target: HK$92.00) 4QFY24 preview: Solid CMR and AIDC growth; lacklustre profitability. TRADERS’ CORNER Guangzhou Automobile Group (2238 HK): Trading Buy range: HK$3.48-3.58 China Gas Holdings Limited (384 HK): Trading Buy range: HK$7.90-8.00

April 11, 2024 April 11, 2024 1 EN

UOB

Regional Morning Notes - Thursday, April 11, 2024

GREATER CHINA Sector IT Hardware: AI Hardware: Elevated investment to bolster investor confidence. Maintain OVERWEIGHT. Update Alibaba Group (9988 HK/BUY/HK$70.50/Target: HK$92.00): 4QFY24 preview: Solid CMR and AIDC growth; lacklustre profitability. SINGAPORE Update Marco Polo Marine (MPM SP/BUY/S$0.067/Target:S$0.086): Virtual call takeaways: Thriving on upswing in offshore industry. THAILAND Update Energy Absolute (EA TB/BUY/Bt35.25/Target: Bt70.00): Looking for new growth opportunities from EV trucks and green energy.

April 11, 2024 April 11, 2024 1 EN

Onewo Space-Tech Pre-IPO

Onewo Space-Tech (OST) aims to raise around US$2bn in its Hong Kong IPO. OST is a property management service provider in China, primarily owned by China Vanke. As per Frost & Sullivan, in 2020, amongst the residential community service providers in the market, OST ranked first in terms of revenue. It also ranked first in the commercial space integrated services market in China. As of end FY21, it has a footprint in 153 cities in 32 provinces across China with 89% of total GFA under management for residential properties located in first-tier, new first-tier and second-tier cities. OST has m...

EUR 93.30

July 27, 2022 July 27, 2022 1 EN

Sumeet Singh

Sumeet Singh

Legend Biotech Follow-on Offering

Legend Biotech, a non-wholly owned subsidiary of Hong Kong-listed GenScript, is planning to raise up to US$250m in its follow-on offering. The company last raised cash in Dec 2021 in a similar sized deal, which ended up doing very well after a sharp share price correction. In this note, we will talk about the deal dynamics and run the deal through our ECM framework.

EUR 93.30

July 26, 2022 July 26, 2022 1 EN

Clarence Chu

Clarence Chu

Xtep International Placement

Group Success Investments is looking to raise up to US$133m by trimming its holdings in Xtep International. We can’t say that the deal is expected and short interest on the stock hasn’t been creeping up as well. While the deal won’t be a large one, representing just 5.7 days of three month ADV, the firm’s last deal hasn’t done well.

EUR 93.30

July 26, 2022 July 26, 2022 1 EN

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ECM Weekly (12th June 2022)

Alibaba Group (9988 HK): 4QFY24 preview: Solid CMR and AIDC growth; lacklustre profitability.

Greater China Daily: Thursday, April 11, 2024

Regional Morning Notes - Thursday, April 11, 2024

Onewo Space-Tech Pre-IPO

Legend Biotech Follow-on Offering

Xtep International Placement

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