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

<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. 


External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

<ul><li>We maintain our target price of W510,000 on LG Energy Solution (LGES). We revised up our 3Q26 operating profit estimate from W223bn to W403.7bn.</li><li>While costs associated with the initial ramp-up of the North American ESS business led to below-consensus results in each of the past two quarters, we expect earnings to recover meaningfully from 3Q26 onward, backed by improvement across all divisions.</li><li>For 3Q26, we expect LGES to report revenue of W8.9tr (+18% QoQ) and operating profit of W403.</li></ul><p><em>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.</em></p>

We maintain our target price of W510,000 on LG Energy Solution (LGES). We revised up our 3Q26 operating profit estimate from W223bn to W403.7bn.While costs associated with the initial ramp-up of the North American ESS business led to below-consensus results in each of the past two quarters, we expect earnings to recover meaningfully from 3Q26 onward, backed by improvement across all divisions.For 3Q26, we expect LGES to report revenue of W8.9tr (+18% QoQ) and operating profit of W403.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.

LG Energy Solution (373220 KS/Buy)Earnings Beat Finally in Sight

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>The KOSDAQ index rose by 7.1% today to 1,064.4 today which was one of the largest single day returns for KOSDAQ in the past three decades.</li>
<li>Will this 7% upside move be a fake reversal or the start of a strong, sustainable momentum trade driven by a potential 17 trillion won inflow into the KOSDAQ companies?</li>
<li>The Korean government is trying to encourage the injection of nearly 17 trillion won into KOSDAQ listed companies through venture capital (raised through integrated market assets (IMAs) and commercial papers).</li>
</ul>


The KOSDAQ index rose by 7.1% today to 1,064.4 today which was one of the largest single day returns for KOSDAQ in the past three decades.
Will this 7% upside move be a fake reversal or the start of a strong, sustainable momentum trade driven by a potential 17 trillion won inflow into the KOSDAQ companies?
The Korean government is trying to encourage the injection of nearly 17 trillion won into KOSDAQ listed companies through venture capital (raised through integrated market assets (IMAs) and commercial papers).


KOSDAQ's 7% Rise Today - A Fake Reversal or Sustainable by a Potential 17 Trillion Won Inflow?

Equity Capital Markets

Satrec Initiative / Equity Capital Markets

<ul>
<li>In this insight, we discuss the top 12 Korean companies that could benefit from the SpaceX IPO in 2026.</li>
<li>Share prices of 12 Korean companies that are beneficiaries of the SpaceX IPO are up on average 16.7% in the past one week versus KOSPI (up 1.6% in same period).</li>
<li>SeAH Besteel Holdings is a potential supplier of specialty steel to SpaceX. Kencoa Aerospace provided rocket parts to SpaceX. Intellian Technologies partnered with SpaceX on its launch vehicle recovery experiment.</li>
</ul>


In this insight, we discuss the top 12 Korean companies that could benefit from the SpaceX IPO in 2026.
Share prices of 12 Korean companies that are beneficiaries of the SpaceX IPO are up on average 16.7% in the past one week versus KOSPI (up 1.6% in same period).
SeAH Besteel Holdings is a potential supplier of specialty steel to SpaceX. Kencoa Aerospace provided rocket parts to SpaceX. Intellian Technologies partnered with SpaceX on its launch vehicle recovery experiment.


Top 12 Korean Companies - Key Beneficiaries of the SpaceX IPO in 2026

Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Equity Derivatives

Contemporary Amperex Technology / Equity Derivatives

Contemporary Amperex Technology (3750 HK)

<ul>
<li>CATL’s options debut in Hong Kong has been active, with strong Call interest and rising open interest suggesting early investor enthusiasm.</li>
<li>Implied vols are holding firm post-listing and appear rich —potentially justifiable given the trading dynamics and catalysts.</li>
<li>We recommend a tactical hedge structure that skews return favourably, targeting recent highs and protecting against downside drift.</li>
</ul>


CATL’s options debut in Hong Kong has been active, with strong Call interest and rising open interest suggesting early investor enthusiasm.
Implied vols are holding firm post-listing and appear rich —potentially justifiable given the trading dynamics and catalysts.
We recommend a tactical hedge structure that skews return favourably, targeting recent highs and protecting against downside drift.


CATL (3750.HK): Rich Vols, Strong Start, and a Tactical Hedge

South Korea

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.

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

LG Energy Solution (373220 KS)

LGES (373220): Good Result, But...

Less attractive compared to Samsung SDI, LG ES is also more heavily reliant to US AMPC. However, the recent earnings rebound makes the case to...

Henry Soediarko