Haixiang
Zhao.

Remote · Shanghai team · Buy-side M&A advisory for an automotive-sector client.

• Support industry and company research for a buy-side M&A engagement, assessing automotive-sector trends and potential acquisition directions.
• Build target-company mappings and screening frameworks; collect market, company and financial data to identify potential acquisition targets.
• Prepare industry reports, pitchbooks and management presentation materials, with further support for valuation and transaction materials as the engagement progresses.

• M&A advisory
• Industry research
• Target screening

Remote · Equity research focused on AI data-centre power and cooling infrastructure.

• Screened AI infrastructure subsectors and selected data-centre power and thermal management for in-depth equity research.
• Built a research framework linking hyperscaler capital expenditure, deployed IT capacity and equipment spending per megawatt to supplier revenue, margins and free cash flow.
• Developed a scenario-driven Vertiv financial model covering revenue, operating margins, EPS, free cash flow, earnings valuation and DCF, accompanied by a formal English equity research report.

• AI infrastructure
• Equity research
• Financial modelling

Robotics market assessment and company due diligence.

• Mapped four robotics submarkets using broker research, policy documents and company disclosures; assessed growth drivers, competitive dynamics and commercialisation challenges.
• Calculated CR3/CR5 concentration and built a six-dimensional weighted scoring model to compare three leading companies across technology, products and operating performance.
• Analysed national and local AI/robotics policies and conducted due diligence on companies including Unitree Robotics, covering funding, technology, customers and business models.
• Produced a 27-slide English consulting deck and delivered the final presentation in English.

• Robotics
• Due diligence
• Competitive analysis

Financial research across construction and building materials.

• Cleaned 10,000+ financial records in Python and analysed ten years of China Railway Group and CRCC data using 12 profitability, leverage and cash-flow metrics.
• Built a six-segment profit model for CNBM and a reusable financial database covering 28 listed building materials companies.
• Supported asset allocation research with eight years of macro, equity and bond data; analysed 20+ metrics in R and produced 30+ charts.
• Authored financial research and roadshow materials, with standardised workpapers and automated data retrieval.

• Python · R
• Wind · iFinD
• Financial modelling

Turning operating data into pricing and cost decisions.

• Completed costing and price reviews for 400+ paper orders across procurement, production and sales, including reviews of credit, rebate and tax terms.
• Analysed profitability across 30+ products and 40+ customers; identified loss-making orders and proposed targeted cost improvements.
• Produced 14 management reports, analysed revenue and margin variances, and supported budgeting, receivables tracking and inventory management.

• Business partnering
• Cost & margin analysis
• Budgeting