Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Bottom-Up

<ul>
<li>Both of Nongfu’s gross margin and growth rate rank No. 2 among beverage big eight.</li>
<li>The company won the price war in both drinkable water and beverage.</li>
<li>We believe revenue will grow by 15% YoY and the operating margin will be stable in 1H26.</li>
</ul>


Both of Nongfu’s gross margin and growth rate rank No. 2 among beverage big eight.
The company won the price war in both drinkable water and beverage.
We believe revenue will grow by 15% YoY and the operating margin will be stable in 1H26.


Nongfu Spring (9633 HK): Buy Potential Coca-Cola After Chip Boom

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>Monster Beverage Corporation reported its first quarter results for fiscal 2026, highlighting several key aspects of its financial and operational performance across global markets.</li><li>The company posted net sales of $2.35 billion, marking a 26.9% increase compared to the prior year’s first quarter.</li><li>Excluding the Alcohol Brands segment, net sales rose by 27.5%, with a favorable foreign currency impact contributing $89.3 million to net sales growth.</li></ul>

Monster Beverage Corporation reported its first quarter results for fiscal 2026, highlighting several key aspects of its financial and operational performance across global markets.The company posted net sales of $2.35 billion, marking a 26.9% increase compared to the prior year’s first quarter.Excluding the Alcohol Brands segment, net sales rose by 27.5%, with a favorable foreign currency impact contributing $89.3 million to net sales growth.

Monster’s $2.35 Billion Quarter: Can Global Growth Outrun Margin Pressure?

<ul><li>Monster Beverage Corporation delivered strong financial performance in the fourth quarter of 2025, with net sales crossing the $2 billion threshold for the first time in their fiscal fourth quarter.</li><li>This result was underpinned by robust global growth in the energy drink category.</li><li>The company's core offerings and new product innovations have significantly contributed to market share gains across global markets.</li></ul>

Monster Beverage Corporation delivered strong financial performance in the fourth quarter of 2025, with net sales crossing the $2 billion threshold for the first time in their fiscal fourth quarter.This result was underpinned by robust global growth in the energy drink category.The company's core offerings and new product innovations have significantly contributed to market share gains across global markets.

Monster Beverage: Inside the Strategy to Win Nigeria, India, Mexico, and Other High-Growth Markets!

<ul><li>Monster Beverage Corporation reported a robust performance for the third quarter of 2025, showing substantial growth across key financial metrics.</li><li>Net sales increased by 16.8% year-over-year to $2.2 billion, driven primarily by the Monster Energy Drinks segment, which grew by 17.7%.</li><li>The company's international presence contributed significantly, with sales outside the United States accounting for a record 43% of total sales.</li></ul>

Monster Beverage Corporation reported a robust performance for the third quarter of 2025, showing substantial growth across key financial metrics.Net sales increased by 16.8% year-over-year to $2.2 billion, driven primarily by the Monster Energy Drinks segment, which grew by 17.7%.The company's international presence contributed significantly, with sales outside the United States accounting for a record 43% of total sales.

Monster Beverage Corporation: Global Expansion Through Dual-Tier Brand Strategy and Coca-Cola Distribution!

High Quality Stock Setups, Weekly Stock Bull Finder

Weekly Stock Bull Finder

High Quality Stock Setups

Finding high potential stock setups on quality companies

Thematic (Sector/Industry)

<ul><li>The start of the second half of the year so far has seen a change in the market themes versus the first half of the year.</li><li>Microsoft’s declaration in January 2023 that AI would emerge as the next computing platform coupled with Nvidia’s shocking earnings guide up last quarter, coupled with a weaker dollar and decline in bond yields, provided fuel in the first half of the year for the technology sector and garnered investor eyeballs to anything closely associated with AI.</li><li>However, on Microsoft’s most recent earnings call on July 25th, CFO Amy Hood stated “Even with strong demand and a leadership position, growth from our AI services will be gradual as Azure AI scales and our copilots reach general availability dates. So for FY '24, the impact will be weighted towards H2.”</li></ul>

The start of the second half of the year so far has seen a change in the market themes versus the first half of the year.Microsoft’s declaration in January 2023 that AI would emerge as the next computing platform coupled with Nvidia’s shocking earnings guide up last quarter, coupled with a weaker dollar and decline in bond yields, provided fuel in the first half of the year for the technology sector and garnered investor eyeballs to anything closely associated with AI.However, on Microsoft’s most recent earnings call on July 25th, CFO Amy Hood stated “Even with strong demand and a leadership position, growth from our AI services will be gradual as Azure AI scales and our copilots reach general availability dates. So for FY '24, the impact will be weighted towards H2.”

United States

Monster Beverage Corporation is a holding company based in Corona, California. The Company, through its consolidated subsidiaries, markets and distributes energy drinks worldwide.

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

Monster Beverage (MNST US)

Nongfu Spring (9633 HK): Buy Potential Coca-Cola After Chip Boom

Both of Nongfu’s gross margin and growth rate rank No. 2 among beverage big eight. The company won the price war in both drinkable water and...

Ming Lu

Monster’s $2.35 Billion Quarter: Can Global Growth Outrun Margin Pressure?

Monster Beverage Corporation reported its first quarter results for fiscal 2026, highlighting several key aspects of its financial and operational...

Baptista Research

Monster Beverage: Inside the Strategy to Win Nigeria, India, Mexico, and Other High-Growth Markets!

Monster Beverage Corporation delivered strong financial performance in the fourth quarter of 2025, with net sales crossing the $2 billion...

Baptista Research

Monster Beverage Corporation: Global Expansion Through Dual-Tier Brand Strategy and Coca-Cola Distribution!

Monster Beverage Corporation reported a robust performance for the third quarter of 2025, showing substantial growth across key financial...

Baptista Research

Weekly Stock Bullfinder - Week of 8/14

The start of the second half of the year so far has seen a change in the market themes versus the first half of the year.

Weekly Stock Bull Finder

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)