Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

Wonik IPS Co., Ltd. manufactures and sells semiconductor processing equipments.  The Company's main businesses include Semiconductor, Display and Solar industries.

<ul>
<li>Fresh intel hit at lunch. Official rollout is penciled for the 11th or 12th, sourced straight from a key gov’t operator and pushed to Hankyung.</li>
<li>The package basically boils down to two levers: juiced tax perks for retail in Kosdaq venture funds and a structural bump-up in pension-fund allocation.</li>
<li>Street sees this as constructive: tax tweaks to pull retail, pension weight-ups to juice flows, and focus on 300bn+ Kosdaq names that beat Q3 consensus 10%+.</li>
</ul>


Fresh intel hit at lunch. Official rollout is penciled for the 11th or 12th, sourced straight from a key gov’t operator and pushed to Hankyung.
The package basically boils down to two levers: juiced tax perks for retail in Kosdaq venture funds and a structural bump-up in pension-fund allocation.
Street sees this as constructive: tax tweaks to pull retail, pension weight-ups to juice flows, and focus on 300bn+ Kosdaq names that beat Q3 consensus 10%+.


Fresh Intel: Kosdaq Stimulus Drop Date & Key Targets

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Sandisk up as NAND prices continue to surge, expect Kioxia to run also with recent Bain sale cleared.</li>
<li>JP factory automation names surged yesterday, but there are likely more gains yet as the next leg for AI.</li>
<li>Quantum names all strong on good numbers, but will Socionext catch on this time?</li>
</ul>


Sandisk up as NAND prices continue to surge, expect Kioxia to run also with recent Bain sale cleared.
JP factory automation names surged yesterday, but there are likely more gains yet as the next leg for AI.
Quantum names all strong on good numbers, but will Socionext catch on this time?


Japan Morning Connection: Memory Back on and Micron Steps Back from Consumer to Focus on Enterprise

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria,CFA

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Capital Markets

Meesho operates as a software development company. The Company provides a platform for online resellers. Meesho offers timely and secure payments, low returns, and shipping services. Meesho serves customers in India.

<ul>
<li>In this insight, we highlight why <a href="https://www.smartkarma.com/entities/meesho-inc" target="_blank" data-smartkarma-citation="entities:35872:1" rel="noopener">Meesho (1546271D IN)</a> is a data science workhorse masquerading as an E-Commerce Platform</li>
<li>We discuss about the various advancements made by the company towards AL/ML models which are difficult to replicate.</li>
<li>Finally, we discuss our view on future prospects and valuation of the company.</li>
</ul>


In this insight, we highlight why Meesho (1546271D IN) is a data science workhorse masquerading as an E-Commerce Platform
We discuss about the various advancements made by the company towards AL/ML models which are difficult to replicate.
Finally, we discuss our view on future prospects and valuation of the company.


Meesho:Data Science Workhorse;Fast Evolving—Venturing into Financial Services & Other AI Investments

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

<ul>
<li>Samsung's new Exynos 2600 chip aims to rival offerings from Apple and Qualcomm in the market.</li>
<li>Chroma has appointed I-Shih Tseng as CEO to enhance governance and operational efficiency.</li>
<li>Transcend expects memory supply constraints to persist for the next 3-5 months amid market instability.</li>
</ul>


Samsung's new Exynos 2600 chip aims to rival offerings from Apple and Qualcomm in the market.
Chroma has appointed I-Shih Tseng as CEO to enhance governance and operational efficiency.
Transcend expects memory supply constraints to persist for the next 3-5 months amid market instability.


Tech Supply Chain Tracker (05-Dec-2025): Samsung unveils Exynos 2600, rivals Apple and

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Equity Bottom-Up

salesforce.com, inc. provides software on demand. The Company supplies a customer relationship management service to businesses worldwide providing a technology platform for customers and developers to build and run business applications. Clients use salesforce.com to manage their customer, sales and operational data.

<ul><li>Salesforce announced 3QFY26 results: total revenue grew by 9% YoY to US$10.3bn, in line with Bloomberg consensus estimate; non-GAAP operating income was up by 17% YoY to US$3.6bn, 4% ahead of consensus estimate mainly due to the timing of expenses and bad debt expense adjustment.</li><li>cRPO increased by 11% YoY to US$29.4bn, c.100bps ahead of the guidance, primarily thanks to the strong bookings on the back of solid Agentforce momentum.</li><li>Agentforce and Data 360 ARR reached c.US$1.4bn in 3QFY26, up 114% YoY. For 4QFY26E, management expected total revenue to increase by 11-12% to US$11.13-11.23bn, including c.3ppts contribution from Informatica consolidation; and cRPO to grow by c.15% YoY, including c.4ppts Informatica contribution. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Salesforce announced 3QFY26 results: total revenue grew by 9% YoY to US$10.3bn, in line with Bloomberg consensus estimate; non-GAAP operating income was up by 17% YoY to US$3.6bn, 4% ahead of consensus estimate mainly due to the timing of expenses and bad debt expense adjustment.cRPO increased by 11% YoY to US$29.4bn, c.100bps ahead of the guidance, primarily thanks to the strong bookings on the back of solid Agentforce momentum.Agentforce and Data 360 ARR reached c.US$1.4bn in 3QFY26, up 114% YoY. For 4QFY26E, management expected total revenue to increase by 11-12% to US$11.13-11.23bn, including c.3ppts contribution from Informatica consolidation; and cRPO to grow by c.15% YoY, including c.4ppts Informatica contribution. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Salesforce (CRM US) - Solid 3QFY26 Results; Robust Agentforce and Data 360 Momentum

Insights in the Information Technology Space

Information Technology
Insights in the Information Technology Space

Fresh Intel: Kosdaq Stimulus Drop Date & Key Targets

Fresh intel just in on the government’s Kosdaq stimulus drop date, with a first look at the main target basket likely to catch flows.

Sanghyun Park

Japan Morning Connection: Memory Back on and Micron Steps Back from Consumer to Focus on Enterprise

A rotation back towards larger cap names and Memory made a bit of a comeback after a few down days. Quantum computing names are back in favor after...

Andrew Jackson

Meesho:Data Science Workhorse;Fast Evolving—Venturing into Financial Services & Other AI Investments

Insight on Meesho: A data science workhorse posing as an E-Commerce Platform with advanced AL/ML models and promising future prospects.

Sreemant Dudhoria,CFA

Tech Supply Chain Tracker (05-Dec-2025): Samsung unveils Exynos 2600, rivals Apple and

Samsung's new Exynos 2600 chip aims to rival offerings from Apple and Qualcomm in the market.Chroma has appointed I-Shih Tseng as CEO to enhance...

Tech Supply Chain Tracker

Salesforce (CRM US) - Solid 3QFY26 Results; Robust Agentforce and Data 360 Momentum

Salesforce announced 3QFY26 results: total revenue grew by 9% YoY to US$10.3bn, in line with Bloomberg consensus estimate; non-GAAP operating...

CMB International

Fresh Intel: Kosdaq Stimulus Drop Date & Key Targets

Fresh intel just in on the government’s Kosdaq stimulus drop date, with a first look at the main target basket likely to catch flows.

Sanghyun Park

Japan Morning Connection: Memory Back on and Micron Steps Back from Consumer to Focus on Enterprise

A rotation back towards larger cap names and Memory made a bit of a comeback after a few down days. Quantum computing names are back in favor after...

Andrew Jackson

Meesho:Data Science Workhorse;Fast Evolving—Venturing into Financial Services & Other AI Investments

​Insight on Meesho: A data science workhorse posing as an E-Commerce Platform with advanced AL/ML models and promising future prospects.

Sreemant Dudhoria,CFA

Tech Supply Chain Tracker (05-Dec-2025): Samsung unveils Exynos 2600, rivals Apple and

Samsung's new Exynos 2600 chip aims to rival offerings from Apple and Qualcomm in the market.Chroma has appointed I-Shih Tseng as CEO to enhance...

Tech Supply Chain Tracker

Salesforce (CRM US) - Solid 3QFY26 Results; Robust Agentforce and Data 360 Momentum

Salesforce announced 3QFY26 results: total revenue grew by 9% YoY to US$10.3bn, in line with Bloomberg consensus estimate; non-GAAP operating...

CMB International

Insight on Meesho: A data science workhorse posing as an E-Commerce Platform with advanced AL/ML models and promising future prospects.