Quality-first, Business-perspective, Long-term, Urbem (HK) Limited

Urbem Capital

Quality-first, Business-perspective, Long-term

Quality-first, Business-perspective Strategy

Urbem (HK) Limited

Equity Bottom-Up

<ul>
<li>Meta's 20× came from underestimated duration, not a cheap entry: net income rose 76-fold while the IPO's roughly 104× earnings multiple shrank to 25×.</li>
<li>The signals were visible early: proven margins, an engaged but under-monetized audience, a feared platform shift, free user-made inventory and a founder willing to cannibalize.</li>
<li>Zynga and Groupon listed in the same months with big audiences but lacked owned distribution, repeat economics or cheap inventory; Meta's soaring capex now fails one test.</li>
</ul>


Meta's 20× came from underestimated duration, not a cheap entry: net income rose 76-fold while the IPO's roughly 104× earnings multiple shrank to 25×.
The signals were visible early: proven margins, an engaged but under-monetized audience, a feared platform shift, free user-made inventory and a founder willing to cannibalize.
Zynga and Groupon listed in the same months with big audiences but lacked owned distribution, repeat economics or cheap inventory; Meta's soaring capex now fails one test.


The Making of a 20-Bagger: What Meta Teaches Us About Finding the Next One

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>In this insight, we discuss the sharp capital flight out of Korea into major stocks in the US in the past several years, especially into the MAG7 stocks.</li>
<li>We provide seven major reasons why Koreans' investments in the US stocks (especially MAG7) have been surging in the past several years. </li>
<li>When will they sell? We provide some clues on this.</li>
</ul>


In this insight, we discuss the sharp capital flight out of Korea into major stocks in the US in the past several years, especially into the MAG7 stocks.
We provide seven major reasons why Koreans' investments in the US stocks (especially MAG7) have been surging in the past several years. 
When will they sell? We provide some clues on this.


7 Main Reasons Driving Surging Ownership into MAG7 Stocks by Korean Investors: When Will They Sell?

Weekly podcast series by SemiWiki.com, SemiWiki.com

SemiWiki.com

Weekly podcast series by SemiWiki.com

Semiconductor Insiders: A weekly podcast series by SemiWiki.com, the open forum for semiconductor professionals.

Thematic (Sector/Industry)

<ul><li>The adoption of post-quantum cryptography (PQC) standards in the semiconductor industry has been positive but cautious, with factors such as regional differences and supply chain challenges slowing down the process.</li><li>The industry is aligning around a proposed 2035 migration timeline for PQC, with vendors in different verticals positioning themselves differently based on their planning cycles and customer demand.</li><li>Early movers in the semiconductor space are making progress in adopting PQC in their next-generation chips, setting the benchmark for the rest of the ecosystem to follow suit.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

The adoption of post-quantum cryptography (PQC) standards in the semiconductor industry has been positive but cautious, with factors such as regional differences and supply chain challenges slowing down the process.The industry is aligning around a proposed 2035 migration timeline for PQC, with vendors in different verticals positioning themselves differently based on their planning cycles and customer demand.Early movers in the semiconductor space are making progress in adopting PQC in their next-generation chips, setting the benchmark for the rest of the ecosystem to follow suit.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Podcast EP304: PQC Standards One Year On: The Semiconductor Industry’s Next Move

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Equity Capital Markets

<ul>
<li>Nscale, an AI infrastructure and GPU cloud provider, has filed its registration statement with the SEC for a NYSE listing. GS, JPM and MS are the lead bookrunners.</li>
<li>We look at the company's core products: Nscale Infrastructure and Nscale Cloud.</li>
<li>We then look at the company's financial profile, loss-making status, pre-IPO valuation and investor backing.</li>
</ul>


Nscale, an AI infrastructure and GPU cloud provider, has filed its registration statement with the SEC for a NYSE listing. GS, JPM and MS are the lead bookrunners.
We look at the company's core products: Nscale Infrastructure and Nscale Cloud.
We then look at the company's financial profile, loss-making status, pre-IPO valuation and investor backing.


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

<ul>
<li>The dispute between <a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" data-smartkarma-citation="entities:16955:1" rel="noopener">SK Hynix (000660 KS)</a> management and the labor union has been resolved; thus, production halt risks have been avoided at a critical time.</li>
<li>Paying 50% of the bonus pool in treasury shares allows SK Hynix to retain billions in cash compared to paying 100% in cash. </li>
<li>The investment thesis remains intact with major hyperscalers locked into multi-year contracts with Sk Hynix while PER remains at 6x. </li>
</ul>


The dispute between SK Hynix (000660 KS) management and the labor union has been resolved; thus, production halt risks have been avoided at a critical time.
Paying 50% of the bonus pool in treasury shares allows SK Hynix to retain billions in cash compared to paying 100% in cash. 
The investment thesis remains intact with major hyperscalers locked into multi-year contracts with Sk Hynix while PER remains at 6x. 


SK Hynix (000660): Dispute Resolved, Cash Intact.

United States

Alphabet Inc. operates as a holding company. The Company, through its subsidiaries, provides web-based search, advertisements, maps, software applications, mobile operating systems, consumer content, enterprise solutions, commerce, and hardware products.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Alphabet (GOOGL US)

The Making of a 20-Bagger: What Meta Teaches Us About Finding the Next One

Facebook listed at roughly 104 times earnings and still returned about 20×. The lesson is not to buy expensive stocks, but to find runways that...

Urbem Capital

7 Main Reasons Driving Surging Ownership into MAG7 Stocks by Korean Investors: When Will They Sell?

In this insight, we discuss the sharp capital flight out of Korea into major stocks in the US in the past several years, especially into the MAG7...

Douglas Kim

Podcast EP304: PQC Standards One Year On: The Semiconductor Industry’s Next Move

Investors joined a semiconductor business spun out of Oxford University, working with founder Ali and a consultant to navigate challenges in...

SemiWiki.com

Nscale Pre-IPO: Tearsheet

Nscale has filed its S-1 for a NYSE listing. In this tearsheet, we look at the company's business and operating profile, its industry backdrop, its...

Ke Yan, CFA, FRM

SK Hynix (000660): Dispute Resolved, Cash Intact.

The management resolved the dispute and managed to negotiate to pay 50% of the bonus in stock, thus saving some cash for capex. SK Hynix is still...

Henry Soediarko

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)