Report
EUR 95.47
For Business Accounts Only
Deewin Tianxia (DT) is a service provider in the commercial automobile service industry in China. Its value-added services to players across the commercial automobile industry chain include: logistics and supply chain services, financial services and IoV data services; commercial automobiles mainly includes trucks, pickups, trailers, buses and lorries.
The firm generates the bulk of its revenue from its controlling shareholder and the latter’s associates. While it has been attempting to diversify towards independent customers, it hasn’t really made headways on that front, in our view. Furthermore, it has also paid its controlling shareholders dividends in each fiscal period across the track period.
Listing sentiment hasn’t been the greatest as of late and the tepid cornerstone list doesn’t help. In our view, the firm would probably have to trade inline with peers or even at a discount. We would skip the deal.
Deewin Tianxia IPO
Deewin Tianxia is looking to raise up to US$147m in its Hong Kong IPO.Deewin Tianxia (DT) is a service provider in the commercial automobile service industry in China. Its value-added services to players across the commercial automobile industry chain include: logistics and supply chain services, financial services and IoV data services; commercial automobiles mainly includes trucks, pickups, trailers, buses and lorries.
The firm generates the bulk of its revenue from its controlling shareholder and the latter’s associates. While it has been attempting to diversify towards independent customers, it hasn’t really made headways on that front, in our view. Furthermore, it has also paid its controlling shareholders dividends in each fiscal period across the track period.
Listing sentiment hasn’t been the greatest as of late and the tepid cornerstone list doesn’t help. In our view, the firm would probably have to trade inline with peers or even at a discount. We would skip the deal.
Underlying
Deewin Tianxia
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.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Clarence Chu
Other Reports on these Companies
Other Reports from Aequitas Research
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.