External broker reports(aggregated public sources), KGI Securities Singapore

KGI Securities

External broker reports(aggregated public sources)

KGI Securities Singapore

We are a pioneer Securities & Derivatives, Trading and Clearing Member of Singapore Exchange as well as a pioneer member of ICE Futures Singapore & ICE Clear Singapore. We offer our valued clients round the clock (24 hour) single-touch point for multi-asset clients and 24 hour high-touch desk for global products. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Ever Glory United Holdings  / Equity Bottom-Up

<ul><li>Strong revenue growth, margin pressure. Ever Glory experienced significant growth in 1H24, with revenue rising 20.9% YoY due to an increased number of ongoing M&amp;E engineering projects.</li><li>However, gross profit decreased by 18.6% YoY as higher-margin projects were completed in FY2023.</li><li>To mitigate inflationary pressures, the company is closely monitoring project costs and exploring diversification into property development.</li></ul>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.

Strong revenue growth, margin pressure. Ever Glory experienced significant growth in 1H24, with revenue rising 20.9% YoY due to an increased number of ongoing M&amp;E engineering projects.However, gross profit decreased by 18.6% YoY as higher-margin projects were completed in FY2023.To mitigate inflationary pressures, the company is closely monitoring project costs and exploring diversification into property development.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.

Ever Glory United Holdings Ltd. - Capitalising on Singapore’s Construction Landscape.

<ul><li>Strong revenue growth, margin pressure.Ever Glory experienced significant growth in 1H24, with revenue rising 20.9% YoY due to an increased number of ongoing M&amp;E engineering projects.</li><li>However, gross profit decreased by 18.6% YoY as higher-margin projects were completed in FY2023.</li><li>To mitigate inflationary pressures, the company is closely monitoring project costs and exploring diversification into property development.</li></ul>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.

Strong revenue growth, margin pressure.Ever Glory experienced significant growth in 1H24, with revenue rising 20.9% YoY due to an increased number of ongoing M&amp;E engineering projects.However, gross profit decreased by 18.6% YoY as higher-margin projects were completed in FY2023.To mitigate inflationary pressures, the company is closely monitoring project costs and exploring diversification into property development.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.

Ever Glory United Holdings Ltd. (EGUH SP) : Capitalising on Singapore’s Construction Landscape.

Mid-market focused investment bank within SE Asia, Evolve Capital Advisory Pte Ltd

Evolve Capital Research

Mid-market focused investment bank within SE Asia

Evolve Capital Advisory Pte Ltd

<ul>
<li>On 15th May 2025, 3HA Capital (a consortium formed by HHH Group,Hanwa Co, AYS and Thor Capital) launched a takeover offer for <a href="https://www.smartkarma.com/entities/cosmosteel-holdings-ltd" target="_blank" data-smartkarma-citation="entities:15964:1" rel="noopener">Cosmosteel Holdings (CSMS SP)</a> at S$0.20/share.</li>
<li>After the offer was deemed unfair but unreasonable, 3HA Capital revised the offer upwards to S$0.25/share on 23rd Jun 2025 but also announced that it was final.</li>
<li>We opine it would not be in the minority shareholders’ interests to continue holding onto their stakes.  We advise shareholders to accept the deal or sell in the open market.
</li>
</ul>


On 15th May 2025, 3HA Capital (a consortium formed by HHH Group,Hanwa Co, AYS and Thor Capital) launched a takeover offer for Cosmosteel Holdings (CSMS SP) at S$0.20/share.
After the offer was deemed unfair but unreasonable, 3HA Capital revised the offer upwards to S$0.25/share on 23rd Jun 2025 but also announced that it was final.
We opine it would not be in the minority shareholders’ interests to continue holding onto their stakes.  We advise shareholders to accept the deal or sell in the open market.



Cosmosteel Holdings Special Report - Decent Premium Above the 10Y Average

SPDR Straits Times Index ETF / Equity Bottom-Up

<ul>
<li>The Evolve Capital team is excited to begin its foray into equity research, with the ability to offer a more diverse set of offerings alongside our corporate finance solutions.</li>
<li>As we initiate coverage on companies within the SGX space, Evolve Capital is committed to building a repository of insights, showcasing a diverse range of companies that embody growth potential. </li>
<li>We focus on identifying compelling investment stories that can attract local and international investors, aimed at uncovering promising investment opportunities in the Catalist market and offering value through our insights.</li>
</ul>


The Evolve Capital team is excited to begin its foray into equity research, with the ability to offer a more diverse set of offerings alongside our corporate finance solutions.
As we initiate coverage on companies within the SGX space, Evolve Capital is committed to building a repository of insights, showcasing a diverse range of companies that embody growth potential. 
We focus on identifying compelling investment stories that can attract local and international investors, aimed at uncovering promising investment opportunities in the Catalist market and offering value through our insights.


Unveiling Potential Gems Within the Catalist

<ul><li>Ever Glory United Holdings Limited and its subsidiaries are primarily engaged in the provision of mechanical and electrical (M&amp;E) engineering services.</li><li>Ever Glory United experienced significant growth in FY23.</li><li>Revenue jumped 69.7% YoY due to an increase in M&amp;E projects and a focus on securing higher -margin contracts.</li></ul>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.

Ever Glory United Holdings Limited and its subsidiaries are primarily engaged in the provision of mechanical and electrical (M&amp;E) engineering services.Ever Glory United experienced significant growth in FY23.Revenue jumped 69.7% YoY due to an increase in M&amp;E projects and a focus on securing higher -margin contracts.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.

Ever Glory United Holdings Ltd. - Powering Progress

Singapore

Ever Glory United Holdings Limited operates as a holding company. The Company, through its subsidiaries, provides mechanical and electrical engineering services. Ever Glory United Holdings serves customers in Singapore.

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

Ever Glory United Holdings (EGUH SP)

Ever Glory United Holdings Ltd. - Capitalising on Singapore’s Construction Landscape.

Ever Glory experienced significant growth in 1H24, with revenue rising 20.9% YoY due to an increased number of ongoing M&E engineering projects.

KGI Securities

Ever Glory United Holdings Ltd. (EGUH SP) : Capitalising on Singapore’s Construction Landscape.

Strong revenue growth, margin pressure.Ever Glory experienced significant growth in 1H24, with revenue rising 20.9% YoY due to an increased number...

KGI Securities

Cosmosteel Holdings Special Report - Decent Premium Above the 10Y Average

3HA Capital's final offer for the takeover of CosmoSteel Holdings is at S$0.25 / share. We advise shareholders to accept the deal or sell in the...

Evolve Capital Advisory Pte Ltd

Unveiling Potential Gems Within the Catalist

The Evolve Capital team is excited to begin its foray into equity research, with the ability to offer a more diverse set of offerings alongside our...

Evolve Capital Advisory Pte Ltd

Ever Glory United Holdings Ltd. - Powering Progress

Ever Glory United Holdings Limited and its subsidiaries are primarily engaged in the provision of mechanical and electrical (M&E) engineering...

KGI Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)