Abstract: NASN, a brake-by-wire solutions supplier, has passed the HKEX listing hearing and is seeking a Main Board listing. Haitong and BOCI are the joint sponsors. We look at the company's core segments: NBC solutions and ESC solutions. We think the deal is not interesting: localisation is real, but NBC margin is too low for the growth case.
ZHEJIANG ASIA-PACIFIC MECHANICAL & ELECTRONIC, ZHEJIANG VIE SCIENCE & TECHNOLOGY, NEXTEER AUTOMOTIVE, HL MANDO, BETHEL AUTOMOTIVE SAFETY SYSTEMS, JTEKT, BEIJING JINGWEI HIRAIN TEC
Research on Hong Kong and A+H equity offerings, from the first filing to the aftermarket. Coverage includes pre-IPO early thoughts on the business and valuation, analysis of the final deal terms and cornerstone investors, and updates as new prospectus versions are filed.
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