Abstract: Inovance is seeking to raise at least USD 100m via a Hong Kong listing. MS, CICC, GTJA, and BOA are the sponsors. This note covers Inovance's industrial automation and NEV businesses, peer valuation. We also discussed our preliminary thoughts on valuation.
WEICHAI POWER, ZHEJIANG SANHUA INTELLIGENT CONTROLS, ESTUN AUTOMATION, SANHUA, WEICHAI POWER, ESTUN, Inovance, SHENZHEN HAN'S CNC TECHNOLOGY, HANS CNC, ZHUZHOU CRRC TIMES ELECTRIC, Yaskawa Electric, ZHUZHOU CRRC TIMES ELECTRIC, Rockwell Automation
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