Chinese beggars' stocks have returned! Second Listing of Weibo-SW--New Analysis of Hong Kong Stock Market in November 2021

Weibo-SW (09898)

Total market value: HK $91.022 billion-HK $91.022 billion

Number of Shares Offered: 11 million Shares (including 5.5 million New Shares and 5.5 million Sale Shares)

Hong Kong sales accounted for 10% and international sales accounted for 90%

Number of public offering shares: 1.1 million shares (55,000 lots)

Number of International Placing Shares: 99 million shares (49.5 million lots)

Offer price: HK $388

20 strands per hand

First-hand admission fee: HK $7838.20

Amount of funds raised: 2.004 billion

Sponsors: Goldman Sachs (Asia) Co., Ltd., Credit Suisse (Hong Kong) Co., Ltd., CITIC CLSA Capital Markets Co., Ltd., China International Capital Hong Kong Securities Co., Ltd.

Stable price operator: Goldman Sachs (Asia) Co., Ltd.

Purchase date: November 29 to December 02, 2021

Transaction date: December 08, 2021

Green shoe mechanism: Yes

Maximum market value: HK $91.022 billion

Company Profile:

The company is China's leading social media platform for people to create, discover and disseminate content.

Weibo has a huge active user base, with monthly active users from 462 million in 2018 to 566 million in June 2021 and average daily active users from 200 million in 2018 to 246 million in June 2021.

(Photo from Prospectus)

Revenue from 2018 to 2020 was US $1.71 billion, US $1.76 billion and US $1.68 billion respectively, and revenue from the six months ending June 30, 2021 was US $1.03 billion.

The operating profit from 2018 to 2020 was US $609 million, US $597 million and US $506 million respectively, and the operating profit for the six months ending June 30, 2021 was US $301 million.

The net profit from 2018 to 2020 was US $572 million, US $492 million and US $314 million respectively, and the net profit for the six months ending June 30, 2021 was US $129 million.

(Photo from Prospectus)

Cornerstone investors:


Sponsor's historical performance:

Goldman Sachs (Asia) Co., Ltd.

CITIC CLSA Capital Markets Limited

China International Capital Hong Kong Securities Limited

Credit Suisse (Hong Kong) Limited

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The sponsor is generally OK. The price stabilizer is Goldman Sachs (Asia) Co., Ltd., and the historical performance of price stabilization is still good.


Analysis of winning rate and new shares

At present, it is in a state of insufficient amount

(The picture above comes from AIPO)

Winning rate analysis:

It is estimated that the margin exhibition should be doubled, the number of participants is estimated to be about 10,000, and the first-hand winning rate is about 100%.

Group B needs a principal of 391,000 to go to Group B 20 times, and the winning market value definitely exceeds the principal.

The interest rate of Group B is 5 days, which is about 2 to 4 thousand.

(The picture above comes from AIPO)

This ticket is also a ticket for the return of Chinese stocks. For those who come to Hong Kong for secondary listing, at present, according to the upper limit of the offer price,

There is a premium of 16.28%! In the past, when it was very hot to play new games, no one participated in this kind of secondary listing, let alone how many people are willing to play now when it is so cold?

Moreover, Chinese stocks are not calm in US stocks now. Even if you buy US stocks and hold them for 5 days, a bunch of moths may come out. At present, the online jokes of the market have come out, which is also a reaction of many retail investors to the sentiment of China Stocks. In the long run, it may be a position opening point, but in the short term, it must be very risky.

$WB-SW(09898)$Venture investment in the stock market needs to be cautious. The above articles only represent personal views for reference only, and do not constitute any investment suggestions. Investors need to bear their own risks

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Disclaimer: The above content represents only the personal views of the poster and does not constitute investment advice on this platform.