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

Urbem Capital

Quality-first, Business-perspective, Long-term

Thematic (Sector/Industry)

<ul>
<li>Businesses pursue various routes to grow their earnings power and shareholder value;</li>
<li>As equity investors, we prefer to invest in growth stories built upon absolute market leadership and ample room for market penetration;</li>
<li>To demonstrate, we present three examples from our portfolio here.</li>
</ul>


Businesses pursue various routes to grow their earnings power and shareholder value;
As equity investors, we prefer to invest in growth stories built upon absolute market leadership and ample room for market penetration;
To demonstrate, we present three examples from our portfolio here.


Market Domination + Under-Penetration = Our Favorite Growth Scenario

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Several equity indexes and indicators we watch are telling us an initial primary low has been established for global equities (ACWI-US). At the same time, after this type of major waterfall decline there is often a test of this initial low - and oftentimes we get an undercut of the initial low. Barring approval of a first-line therapy for COVID-19 we are of the belief that we will get an eventual test of this initial low and potentially an undercut. In this report we highlight key technical levels and indicators to watch and suggest investment opportunities with defensive and/or growth characteristics. We are also expanding our recommendations to include bottom-up ideas within several other Sectors.

Several equity indexes and indicators we watch are telling us an initial primary low has been established for global equities (ACWI-US). At the same time, after this type of major waterfall decline there is often a test of this initial low - and oftentimes we get an undercut of the initial low. Barring approval of a first-line therapy for COVID-19 we are of the belief that we will get an eventual test of this initial low and potentially an undercut. In this report we highlight key technical levels and indicators to watch and suggest investment opportunities with defensive and/or growth characteristics. We are also expanding our recommendations to include bottom-up ideas within several other Sectors.

Global Equity Strategy: Initial Low Established

Our outlook remains neutral for global ex-U.S. markets while horizontal consolidation continues on the MSCI ACWI ex-U.S. index.  In today’s report we take a bottoms-up view on developed ex-U.S. equities, highlighting stocks that present attractive buy opportunities within the Services, Consumer Discretionary, Consumer Staples, Energy, and Financials Sectors.

Our outlook remains neutral for global ex-U.S. markets while horizontal consolidation continues on the MSCI ACWI ex-U.S. index.  In today’s report we take a bottoms-up view on developed ex-U.S. equities, highlighting stocks that present attractive buy opportunities within the Services, Consumer Discretionary, Consumer Staples, Energy, and Financials Sectors.

Bottoms-Up View on Developed Markets: Actionable Stocks

Today's report puts a spotlight on the Health Care Sector, which is assuming a global leadership role vs. other Sectors. We also focus on the Communications Sector as we are seeing steady relative strength ranking (RSR) improvements over the last couple of months. At the Group level, we highlight select smid-cap Casinos &amp; Gaming stocks. Finally, India’s S&amp;P BSE SENSEX is breaking out to new all-time highs as RS bullishly inflects, we highlight actionable stocks.

Today's report puts a spotlight on the Health Care Sector, which is assuming a global leadership role vs. other Sectors. We also focus on the Communications Sector as we are seeing steady relative strength ranking (RSR) improvements over the last couple of months. At the Group level, we highlight select smid-cap Casinos &amp; Gaming stocks. Finally, India’s S&amp;P BSE SENSEX is breaking out to new all-time highs as RS bullishly inflects, we highlight actionable stocks.

Global Strategy: Health Care Outperforming - Overweight; India Breaking Out -Add Exposure

Podcast on In-depth Business Talks, Speedwell Research

The Synopsis

Podcast on In-depth Business Talks

Speedwell Research

Speedwell Research spends hundreds of hours researching public businesses each month and in "The Synopsis" they share their key learnings. Most business podcasts are superficial and assume their listeners are unsophisticated. In contrast, The Synopsis trusts listeners are interested in learning about complex, industry-specific issues, so long as they are explained clearly. We cover businesses from inception to current day, coupling business analysis and an investors lens. Start listening today to become a better analyst and investor.

Equity Bottom-Up

<ul><li>Evolution reported 2Q25 earnings, with stock up 7% on the day</li><li>Live casino revenue up 4%, RNG flat with potential for growth</li><li>Expansion of partnership with Hasbro for Monopoly IP in North America, positive outlook in the market</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Evolution reported 2Q25 earnings, with stock up 7% on the dayLive casino revenue up 4%, RNG flat with potential for growthExpansion of partnership with Hasbro for Monopoly IP in North America, positive outlook in the marketThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Dialogue. Evolution 2Q25 Business Update, Black Markets, UK Investigation, Asia Cyber Attacks

Sweden

Evolution AB operates as a gaming company. The Company develops, produces, markets and licenses fully integrated B2B live casino solutions to online casino operators. Evolution serves customers worldwide.

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Evolution (EVO SS)

Market Domination + Under-Penetration = Our Favorite Growth Scenario

We present three examples from our portfolio here to demonstrate our preference to invest in growth stories built upon absolute market leadership...

Urbem Capital

Global Equity Strategy: Initial Low Established

Several equity indexes and indicators we watch are telling us an initial primary low has been established for global equities (ACWI-US). At the...

Vermilion Research

Bottoms-Up View on Developed Markets: Actionable Stocks

Our outlook remains neutral for global ex-U.S. markets while horizontal consolidation continues on the MSCI ACWI ex-U.S. index. In today’s report...

Vermilion Research

Global Strategy: Health Care Outperforming - Overweight; India Breaking Out -Add Exposure

Today's report puts a spotlight on the Health Care Sector, which is assuming a global leadership role vs. other Sectors. We also focus on...

Vermilion Research

Dialogue. Evolution 2Q25 Business Update, Black Markets, UK Investigation, Asia Cyber Attacks

In summary, Evolution's 2Q25 earnings report showed positive growth in revenue, particularly in the live casino segment, despite challenges like...

The Synopsis

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