Your Partner for Growth, Hybridan

Hybridan

Your Partner for Growth

Our passion is raising growth capital for exciting, fast growth companies that want to take their business to the next level. We raise capital for companies both listed and unlisted in the most efficient manner possible and pride ourselves as being one of the few consistently profitable broking firms in the City. This has been achieved through a highly disciplined approach when seeking to create both corporate and institutional relationships.

Equity Bottom-Up

<ul><li>The cashflow from Vietnam solar shines brighter as the total operational solar capacity with Mobile World Group (MWG) reaches 3.4MW.</li><li>The MWG contract is underpinned by a 14-year Power Purchase Agreements (PPA) to deliver power across multiple commercial rooftop solar sites in Vietnam.</li><li>In addition to these sites, is the Company has a 3.0MW industrial project with Phong Phu Corporation.</li></ul>

The cashflow from Vietnam solar shines brighter as the total operational solar capacity with Mobile World Group (MWG) reaches 3.4MW.The MWG contract is underpinned by a 14-year Power Purchase Agreements (PPA) to deliver power across multiple commercial rooftop solar sites in Vietnam.In addition to these sites, is the Company has a 3.0MW industrial project with Phong Phu Corporation.

Hybridan Research: Coro Energy plc: Funding Power

<ul><li>* A corporate client of Hybridan LLP.</li><li>** Potential means Intention to Float (ITF) or similar announcement has been made.</li><li>***Arranged by type of listing and date of announcement.</li></ul>

* A corporate client of Hybridan LLP.** Potential means Intention to Float (ITF) or similar announcement has been made.***Arranged by type of listing and date of announcement.

Quartix Holdings plc - Hybridan Small Cap Feast: 03/07/2025

Japan Specialist

Mark Chadwick

<ul>
<li>Q3 revenue/OP miss vs. our est. on weaker-than-expected Uniqlo International - FX and China weakness key drivers.</li>
<li>Japan and Western markets continue to outperform; U.S. and Europe now rival China in size.</li>
<li>FY company guidance unchanged but rising risks to next FY from tariffs and persistent China underperformance.</li>
</ul>


Q3 revenue/OP miss vs. our est. on weaker-than-expected Uniqlo International - FX and China weakness key drivers.
Japan and Western markets continue to outperform; U.S. and Europe now rival China in size.
FY company guidance unchanged but rising risks to next FY from tariffs and persistent China underperformance.


Fast Retailing(9983) | Q3 Miss But FY Guide Intact - Execution Solid, China Still Weak

Materials| Industrials |Commodities

Rahul Jain

<ul>
<li>Adds 600 MW operational capacity in Maharashtra, acquired via CIRP at ₹6.67 crore/MW.</li>
<li>Supports Adani’s goal to reach 30,670 MW by FY2030 through scale-driven, base-load expansion.</li>
<li>Stock trades at ~12x forward P/E—undervalued given 70% capacity growth and strong operating leverage.</li>
</ul>


Adds 600 MW operational capacity in Maharashtra, acquired via CIRP at ₹6.67 crore/MW.
Supports Adani’s goal to reach 30,670 MW by FY2030 through scale-driven, base-load expansion.
Stock trades at ~12x forward P/E—undervalued given 70% capacity growth and strong operating leverage.


Adani Power Adds 600 MW—One Step Closer to 30 GW

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul>
<li>The recent results of Banco Santander, presented for the first quarter of 2025, paint a comprehensive picture of the bank's financial health and growth trajectory.</li>
<li>The performance highlights a record quarter, continuing the momentum from the previous year, and underscores the strategic initiatives undertaken by Santander to navigate the challenging macroeconomic environment.</li>
<li>On the positive side, Santander reported a significant profit increase, reaching EUR 3.4 billion, up 19% from the same quarter last year.</li>
</ul>


The recent results of Banco Santander, presented for the first quarter of 2025, paint a comprehensive picture of the bank's financial health and growth trajectory.
The performance highlights a record quarter, continuing the momentum from the previous year, and underscores the strategic initiatives undertaken by Santander to navigate the challenging macroeconomic environment.
On the positive side, Santander reported a significant profit increase, reaching EUR 3.4 billion, up 19% from the same quarter last year.


Banco Santander: An Insight Into The U.K. Market Outlook & The U.S. Market Expansion Approach!

Hybridan Research: Coro Energy plc: Funding Power

The cashflow from Vietnam solar shines brighter as the total operational solar capacity with Mobile World Group (MWG) reaches 3.4MW. The MWG...

Hybridan

Quartix Holdings plc - Hybridan Small Cap Feast: 03/07/2025

* A corporate client of Hybridan LLP. Potential means Intention to Float (ITF) or similar announcement has been made. *Arranged by type of...

Hybridan

Fast Retailing(9983) | Q3 Miss But FY Guide Intact - Execution Solid, China Still Weak

Uniqlo International weakness drives Q3 revenue miss, Japan and Western markets outperform while U.S. and Europe rival China in size. Tariffs and...

Mark Chadwick

Adani Power Adds 600 MW—One Step Closer to 30 GW

Adani acquires 600 MW capacity in Maharashtra, driving towards goal of 30,670 MW by FY2030, stock undervalued at 12x forward P/E.

Rahul Jain

Banco Santander: An Insight Into The U.K. Market Outlook & The U.S. Market Expansion Approach!

The recent results of Banco Santander, presented for the first quarter of 2025, paint a comprehensive picture of the bank's financial health and...

Baptista Research

Hybridan Research: Coro Energy plc: Funding Power

The cashflow from Vietnam solar shines brighter as the total operational solar capacity with Mobile World Group (MWG) reaches 3.4MW. The MWG...

Hybridan

Quartix Holdings plc - Hybridan Small Cap Feast: 03/07/2025

* A corporate client of Hybridan LLP. ** Potential means Intention to Float (ITF) or similar announcement has been made. ***Arranged by type of...

Hybridan

Fast Retailing(9983) | Q3 Miss But FY Guide Intact - Execution Solid, China Still Weak

​Uniqlo International weakness drives Q3 revenue miss, Japan and Western markets outperform while U.S. and Europe rival China in size. Tariffs and...

Mark Chadwick

Adani Power Adds 600 MW—One Step Closer to 30 GW

​Adani acquires 600 MW capacity in Maharashtra, driving towards goal of 30,670 MW by FY2030, stock undervalued at 12x forward P/E.

Rahul Jain

Banco Santander: An Insight Into The U.K. Market Outlook & The U.S. Market Expansion Approach!

The recent results of Banco Santander, presented for the first quarter of 2025, paint a comprehensive picture of the bank's financial health and...

Baptista Research

* A corporate client of Hybridan LLP. Potential means Intention to Float (ITF) or similar announcement has been made. *Arranged by type of...

Uniqlo International weakness drives Q3 revenue miss, Japan and Western markets outperform while U.S. and Europe rival China in size. Tariffs and...

Adani acquires 600 MW capacity in Maharashtra, driving towards goal of 30,670 MW by FY2030, stock undervalued at 12x forward P/E.