Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

LG Energy Solution produces and sells batteries. The Company manufactures and sells automobile batteries, small batteries, energy storage system batteries, and other products. LG Energy Solution markets its products worldwide.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lg-energy-solution" target="_blank" data-smartkarma-citation="entities:33464:1" rel="noopener">LG Energy Solution (373220 KS)</a> recent result is fantastic and made the share price bounce up. </li>
<li>EV makers in the US are renegotiating for a claim in the AMPC that would reduce <a href="https://www.smartkarma.com/entities/lg-energy-solution" target="_blank" data-smartkarma-citation="entities:33464:1" rel="noopener">LG Energy Solution</a>'s (373220 KS) margin. Bear in mind the AMPC has almost 100% margin. </li>
<li>Compared against <a href="https://www.smartkarma.com/entities/samsung-sdi-co-ltd" target="_blank" data-smartkarma-citation="entities:503:1" rel="noopener">Samsung SDI (006400 KS)</a> , which is less reliant on AMPC and a more profitable company, LGES pales in comparison. </li>
</ul>



LG Energy Solution (373220 KS) recent result is fantastic and made the share price bounce up. 
EV makers in the US are renegotiating for a claim in the AMPC that would reduce LG Energy Solution's (373220 KS) margin. Bear in mind the AMPC has almost 100% margin. 
Compared against Samsung SDI (006400 KS) , which is less reliant on AMPC and a more profitable company, LGES pales in comparison. 


Owner and CEO, GR20 Research

Gregory Ramirez

Owner and CEO

Industry Research and Consulting Services

GR20 Research

GR20 Research provides industry research and consulting services

Dassault Systemes operates as a software company. The develops and offers 3Dexperience platform to create innovative new products and services using virtual experiences. Dassault Systemes serves aerospace, construction, business services, consumer packaged goods, high-tech, life science, health care, marine, energy, and industrial equipment industries worldwide.

<ul>
<li>Schneider/PTC creates a formidable competitor, significantly broadening Schneider Electric’s industrial software offering and strengthening its position against Dassault Systèmes, Siemens and Autodesk.</li>
<li>Competitive pressure on Dassault Systèmes will increase, particularly in ALM, industrial operations, automation, energy management and field service, although its core engineering, PLM, simulation and virtual twin franchises remain strong.</li>
<li>AI could strengthen Dassault Systèmes’ differentiation, with ArisGlobal, Medidata and virtual twins providing valuable proprietary data and capabilities to develop industry-specific AI and “world models”.</li>
</ul>


Schneider/PTC creates a formidable competitor, significantly broadening Schneider Electric’s industrial software offering and strengthening its position against Dassault Systèmes, Siemens and Autodesk.
Competitive pressure on Dassault Systèmes will increase, particularly in ALM, industrial operations, automation, energy management and field service, although its core engineering, PLM, simulation and virtual twin franchises remain strong.
AI could strengthen Dassault Systèmes’ differentiation, with ArisGlobal, Medidata and virtual twins providing valuable proprietary data and capabilities to develop industry-specific AI and “world models”.


Dassault Systèmes (DSY FP): An Evolving Competitive Landscape

Smartkarma AI Synthetic Expert Call Transcripts, Smartkarma

αSK SmartScripts

Smartkarma AI Synthetic Expert Call Transcripts

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

BHP Group Ltd operates as an international resources company. The Company offers mineral exploration and production, including coal, iron ore, gold, titanium, ferroalloys, nickel, and copper concentrate, as well as petroleum exploration, production, and refining. BHP Group serves customers worldwide.

<ul><li>Financial engineering obscures underlying operational headwinds: BHP’s FY26 net debt reduction to $8.7 billion was heavily supported by the $4.3 billion Antamina silver streaming transaction and the $2.0 billion GIP infrastructure sell-down, rather than organic free cash flow. Under the hood, BHP faces severe medium-term operational pressure, highlighted by an 8% to 16% guided drop in FY27 group copper volumes and surging unit costs at Escondida.</li><li>M&amp;A discipline has turned to structural avoidance: The walk-away from Anglo American in late 2025 was driven by a strict refusal to absorb the $330 million break fee triggered by the Teck-Anglo merger, alongside the refusal to bypass internal hurdle rates (15% post-tax nominal IRR for general M&amp;A, shaded to 11% to 12% for tier-one copper). The corporate strategy has pivoted permanently under new CEO Brandon Craig to disciplined, organic debottlenecking over dilutive, mega-scale acquisitions.</li><li>Royalty and capital write-off dynamics reshape project NPVs: While the progressive Queensland coal royalty structures (reaching up to 40% on prices over $300/t) have driven BMA's return on capital employed down to 0% and forced the mothballing of Saraji South, the Jansen potash project NPV remains highly protected. Despite Jansen Stage 2 capital overruns of $2.0 billion (revised to $6.9 billion), Saskatchewan’s 120% capital construction tax write-off shields the project from potash production taxes for its initial decade, sustaining an 11% IRR.</li></ul><div style="color: #475569; background: #eee; border-radius: 16px; padding: 14px; margin: 14px 0; font-size: 12px; line-height: 16px;">Disclaimer: The following transcripts are synthetic, AI-generated on demand, and compiled exclusively from public data sources; no real-word experts were actually interviewed. This content is designed to highlight potential market mispricings, explore compelling lines of inquiry, and suggest strategic questions rather than present verified facts. All specific financial metrics and data points, including market shares, TAM, margins, and growth rates, are AI-estimated approximations. They may be inaccurate and must be independently verified.</div>

Financial engineering obscures underlying operational headwinds: BHP’s FY26 net debt reduction to $8.7 billion was heavily supported by the $4.3 billion Antamina silver streaming transaction and the $2.0 billion GIP infrastructure sell-down, rather than organic free cash flow. Under the hood, BHP faces severe medium-term operational pressure, highlighted by an 8% to 16% guided drop in FY27 group copper volumes and surging unit costs at Escondida.M&amp;A discipline has turned to structural avoidance: The walk-away from Anglo American in late 2025 was driven by a strict refusal to absorb the $330 million break fee triggered by the Teck-Anglo merger, alongside the refusal to bypass internal hurdle rates (15% post-tax nominal IRR for general M&amp;A, shaded to 11% to 12% for tier-one copper). The corporate strategy has pivoted permanently under new CEO Brandon Craig to disciplined, organic debottlenecking over dilutive, mega-scale acquisitions.Royalty and capital write-off dynamics reshape project NPVs: While the progressive Queensland coal royalty structures (reaching up to 40% on prices over $300/t) have driven BMA's return on capital employed down to 0% and forced the mothballing of Saraji South, the Jansen potash project NPV remains highly protected. Despite Jansen Stage 2 capital overruns of $2.0 billion (revised to $6.9 billion), Saskatchewan’s 120% capital construction tax write-off shields the project from potash production taxes for its initial decade, sustaining an 11% IRR.Disclaimer: The following transcripts are synthetic, AI-generated on demand, and compiled exclusively from public data sources; no real-word experts were actually interviewed. This content is designed to highlight potential market mispricings, explore compelling lines of inquiry, and suggest strategic questions rather than present verified facts. All specific financial metrics and data points, including market shares, TAM, margins, and growth rates, are AI-estimated approximations. They may be inaccurate and must be independently verified.

BHP Group Ltd (BHP AU): Synthetic Expert Call Transcript (04 Oct 2026)

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Australia's ASIC releases the aggregated short position data four business days after the reporting day. Data in this insight is up to 28th September, published on the 2nd October.
</li>
<li>The largest industry net increase in the past week was A$0.4bn into "Banks"; the largest industry net decrease was A$0.1bn out of "Interactive Media". Net shorts increased A$0.5bn week-on-week. 
</li>
<li>Companies mentioned in this regular weekly report include: <a href="https://www.smartkarma.com/entities/bhp-group-ltd" target="_blank" data-smartkarma-citation="entities:147:1" rel="noopener">BHP Group (BHP AU)</a>, <a href="https://www.smartkarma.com/entities/steadfast-group-ltd" target="_blank" data-smartkarma-citation="entities:8181:1" rel="noopener">Steadfast (SDF AU)</a>, <a href="https://www.smartkarma.com/entities/artrya-ltd" target="_blank" data-smartkarma-citation="entities:41151:1" rel="noopener">Artrya (AYA AU)</a>, <a href="https://www.smartkarma.com/entities/echoiq-limited" target="_blank" data-smartkarma-citation="entities:8230:1" rel="noopener">ECHOiQ (EIQ AU)</a>, <a href="https://www.smartkarma.com/entities/catalyst-metals-ltd" target="_blank" data-smartkarma-citation="entities:4293:1" rel="noopener">Catalyst Metals (CYL AU)</a>, and <a href="https://www.smartkarma.com/entities/core-lithium-ltd" target="_blank" data-smartkarma-citation="entities:14712:1" rel="noopener">Core Lithium (CXO AU)</a>.</li>
</ul>


Australia's ASIC releases the aggregated short position data four business days after the reporting day. Data in this insight is up to 28th September, published on the 2nd October.

The largest industry net increase in the past week was A$0.4bn into "Banks"; the largest industry net decrease was A$0.1bn out of "Interactive Media". Net shorts increased A$0.5bn week-on-week. 

Companies mentioned in this regular weekly report include: BHP Group (BHP AU), Steadfast (SDF AU), Artrya (AYA AU), ECHOiQ (EIQ AU), Catalyst Metals (CYL AU), and Core Lithium (CXO AU).


Aussie Shorts [28 Sep 2026]: BHP Group, Steadfast, Artrya, ECHOiQ, Catalyst Metals, Core Lithium

Pan-Asia Tactical Market Calls (Quant-Driven), MRM Research

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

Equity Derivatives

Contemporary Amperex Technology (CATL) / Equity Derivatives

Contemporary Amperex Technology Co., Limited. operates as a battery products manufacturing company. The Company produces and sells power battery materials, energy storage batteries energy storage battery cells, systems, and other products. Contemporary Amperex Technology also provides batteries recycling services.

Contemporary Amperex Technology (CATL) (300750 CH)

<ul>
<li>WEEKLY tactical global macro recap/analysis for several markets and stocks we track, grouped by sector.</li>
<li>We apply our quantitative models to each instrument's trend, to determine which stocks/markets are just starting a trend, are in the middle of it, or are about to end it.</li>
<li>
Most overbought:  Nikkei 225, Hanwha Solutions (009830 KS), Tokyo Electron (8035 JP), Advantest Corp (6857 JP) Most oversold: NIFTY, CATL (300750 CH), GLD, Zijin Mining, Nippon Steel Corporation (5401 JP)</li>
</ul>


WEEKLY tactical global macro recap/analysis for several markets and stocks we track, grouped by sector.
We apply our quantitative models to each instrument's trend, to determine which stocks/markets are just starting a trend, are in the middle of it, or are about to end it.

Most overbought:  Nikkei 225, Hanwha Solutions (009830 KS), Tokyo Electron (8035 JP), Advantest Corp (6857 JP) Most oversold: NIFTY, CATL (300750 CH), GLD, Zijin Mining, Nippon Steel Corporation (5401 JP)


WEEKLY Tactical Recap | Asymmetric Setup: CATL, Advantest Corp, Tokyo Electron, Zijin Mining, NIFTY

Insights on Companies in the Tesla Supply Chain