Deborah Liu

• Support in developing a complex financial model for evaluating a potential acquisition with an estimated value of US$300 million
• Conduct accretion/dilution analysis across a variety of metrics, including CFPS, production per share, reserve per share, and leverage ratios based on a range of acquisition prices and leverage assumptions.
• Track current deals and relevant metrics in an upstream oil & gas M&A/private credit transaction database.
• Support the development of a roadshow presentation highlighting investment opportunities in Canadian upstream oil and gas.

• Supported TMT equity research team in covering Chinese companies listed in US, HK, and A-Share markets within software (SaaS, industrial software), telecommunications, and data center sectors.
• Contributed to the initiation of research coverages on Chinese TMT companies by conducting in-depth industry research, consolidating essential operating and financial information, and developing valuation models.
• Updated financial models quarterly, including adjusted company valuation forecasts.
• Assisted in research report writing.
• Ensured on-time completion of TMT industry market research as per client request.
• Regularly monitored industry data and news updates.

• Developed financial models including financial statement projections, DCF modeling, and public comps to support fundraising efforts. Reported findings directly to CFO.
• Optimized Accounts Payable forecasting models to support financial planning and cash flow management.
• Prepared correspondence to investors outlining industry projections and corporate performance.
• Conducted industrial research on the natural gas and LNG market, encompassing cost analysis for natural gas infrastructure and AECO price prediction.

Deal experience:

• Oil & Gas deal: US$100 million convertible bonds investment in a HK-listed oil and gas company

1) Evaluated target company's financial statements, asset quality, and risks through preliminary analysis.

2)Assisted in developing a DCF model and summarizing public comparable ratios.

3)Assisted with negotiating terms and structure of convertible bonds with counterparty.

• Mining deal: US$30 million equity investment in a TSX-listed base metals and precious metals company

1) Assisted with the assessment of accepting a tender offer or selling shares on the market.

2) Engaged in monitoring trading of target company shares, assessing potential for superior bid, and evaluating closing risks.