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Smartkarma Daily Briefs

May 31
0

Daily Brief Equity Bottom-Up: Taiwan Dual-Listings Monitor: TSMC Premium Rises Further and more

By | Daily Briefs, Equity Bottom-Up

In today’s briefing:

  • Taiwan Dual-Listings Monitor: TSMC Premium Rises Further, to Short Level; UMC Discount
  • Samsung Still in the Woods, SK Hynix Still Ahead. China Semi News (Huawei)
  • Texas Roadhouse: A Tale Of Smart Menu Pricing & Inflation Defense Tactics!
  • Asia File Update : 1st Quarter Results
  • Cloudflare Inc.: Expansion in Zero Trust and SASE Solutions & Major Growth Levers!
  • Korean F&B: Focus on Companies With Strongest Export Growth
  • Carvana Co.: Is The Third-Party Marketplace Expansion Its Secret Weapon For Growth?
  • VIAB US – How Paramount Global Is Mastering Linear-Streaming Synergy to Dominate Sports and Series!
  • Royalty Pharma Flexes Financial Muscle: A $723 Million In Share Repurchases & Bold 2025 Outlook!
  • HubSpot Inc.: How Is The Management Executing Mid-Market Expansion to Make Its Business More Resilient To Economic Fluctuations?

Taiwan Dual-Listings Monitor: TSMC Premium Rises Further, to Short Level; UMC Discount

By Vincent Fernando, CFA

  • TSMC: +22% Premium; Consider Shorting ADR Spread at Current Level
  • UMC: -1.4% Discount; Wait for More Extreme Discount Before Going Long the Spread
  • CHT: +0.9% Premium; Can Consider Shorting the Premium at This Level or Higher

Samsung Still in the Woods, SK Hynix Still Ahead. China Semi News (Huawei)

By Nicolas Baratte

  • Samsung 3nm yields improving (50-60%) but still far behind TSMC (85-90%)
  • SK Hynix is finalizing HBM4 agreements with Nvidia, Samsung is still not qualified for HBM3e.
  • Huawei into semiconductor chemicals? The vulnerability is photo-resist, but that’s very hard to do 

Texas Roadhouse: A Tale Of Smart Menu Pricing & Inflation Defense Tactics!

By Baptista Research

  • Texas Roadhouse reported its first quarter financial results, demonstrating both strengths and challenges in its business performance.
  • The company recorded a revenue of over $1.4 billion, with same-store sales increasing by 3.5% and average weekly sales reaching all-time highs.
  • Notably, March experienced the highest weekly sales across Texas Roadhouse’s three brands: Texas Roadhouse, Bubba’s 33, and Jaggers.

Asia File Update : 1st Quarter Results

By Punit Khanna

  • Operating Business did well with filing revenues marginally declining and food ware business growing
  • One off write off investment in associate and intangible asset
  • Maintain the view that Risk Reward are asymmetrical as the company trades below cash

Cloudflare Inc.: Expansion in Zero Trust and SASE Solutions & Major Growth Levers!

By Baptista Research

  • Cloudflare reported its financial performance for Q1 2025, showcasing several encouraging outcomes along with some aspects that warrant attention.
  • The company achieved a revenue of $479.1 million, marking a 27% increase year-over-year.
  • This growth was primarily driven by the addition of large customers, with 3,527 clients contributing over $100,000 annually—a 23% year-over-year rise.

Korean F&B: Focus on Companies With Strongest Export Growth

By Douglas Kim

  • In this insight, we provide 3 major fundamental criteria for screening major Korean F&B companies. 
  • Three major criteria include 3 years CAGR revenue growth of 5% or more, increase in net margin in 2024, and overseas sales more than 10% of total sales.
  • Of the 30 Korean F&B companies mentioned in this insight, only six companies meet these criteria including Samyang Foods, Orion Corp, Hitejinro, Lotte Wellfood, Daesang Corporation, and Pulmuone.

Carvana Co.: Is The Third-Party Marketplace Expansion Its Secret Weapon For Growth?

By Baptista Research

  • Carvana Co.’s latest earnings for Q1 2025 highlighted several key achievements as well as ongoing challenges.
  • The company reported robust growth across several financial metrics, reflecting the effectiveness of its business model in a competitive and fragmented automotive retail industry.
  • On the positive side, Carvana achieved record retail units sold at 133,898, representing a 46% increase year over-year.

VIAB US – How Paramount Global Is Mastering Linear-Streaming Synergy to Dominate Sports and Series!

By Baptista Research

  • Paramount Global’s Q1 2025 financial results presented a mixed picture of the company’s performance and strategic positioning.
  • On the positive side, Paramount reported a 2% revenue growth, when excluding the Super Bowl, alongside a significant year-over-year improvement in Direct-to-Consumer (DTC) OIBDA by approximately $180 million.
  • The company also generated $123 million in free cash flow, demonstrating efficient cash management amid a challenging advertising environment.

Royalty Pharma Flexes Financial Muscle: A $723 Million In Share Repurchases & Bold 2025 Outlook!

By Baptista Research

  • Royalty Pharma PLC’s recent earnings results for the first quarter of 2025 outline a period of significant financial performance and strategic initiatives.
  • The company reported a 12% increase in royalty receipts, demonstrating solid cash flow stemming from its diversified portfolio.
  • Total portfolio receipts grew by 17%, boosted by variable milestones and contractual payments, indicating a strong top-line performance.

HubSpot Inc.: How Is The Management Executing Mid-Market Expansion to Make Its Business More Resilient To Economic Fluctuations?

By Baptista Research

  • HubSpot reported strong financial results for the first quarter of 2025, reflecting continued growth and strategic momentum.
  • Revenue increased by 18% year-over-year in constant currency, driven by several key trends.
  • The company added over 10,000 net new customers, bringing its total customer base to 258,000, with customer growth driven by platform consolidation, upmarket expansion, and robust downmarket acquisition.

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May 31
0

Daily Brief Event-Driven: Japanese Neobanks: Time to Short Rakuten Bank (TSE: 5838) and more

By | Daily Briefs, Event-Driven

In today’s briefing:

  • Japanese Neobanks: Time to Short Rakuten Bank (TSE: 5838)
  • Certainty Vs. Upside: Navigating the Assura-KKR-PHP Showdown

Japanese Neobanks: Time to Short Rakuten Bank (TSE: 5838)

By Victor Galliano

  • We believe that the recently announced offer by NTT Docomo for SBI Sumishin Netbank is attractive for Netbank shareholders; this brings the Japanese neobanks into the valuation spotlight
  • There is a modest long arbitrage opportunity in SBI Sumishin Netbank based on its 30th May closing price, but the bigger opportunity, in our view, is shorting Rakuten Bank
  • Seven Bank is of potential M&A interest, according to the Japanese financial press; despite the speculative boost to Seven shares and its PBV, Rakuten Bank valuations look relatively very stretched

Certainty Vs. Upside: Navigating the Assura-KKR-PHP Showdown

By Jesus Rodriguez Aguilar

  • Assura draws competing offers: KKR offers 49.4p cash per share, while PHP counters with a 50.53p blend of cash and stock, sparking a rare UK healthcare REIT bidding war.
  • With pro forma LTV below 50% and strong interest coverage, PHP can raise its cash component by 2–3p/share without losing investment-grade status; PUSU deadline looms 14 June.
  • Arbitrage investors can go long Assura and hedge PHP exposure via CFDs at a 0.3769 ratio, isolating deal spread upside while managing market risk.

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May 31
0

Daily Brief ECM: Circle Internet Group (CRCL): Ark and more

By | Daily Briefs, ECM

In today’s briefing:

  • Circle Internet Group (CRCL): Ark, BlackRock to Anchor Oversubscribed Stablecoin IPO
  • Shanghai Zhida Technology Development Pre-IPO – Market Leader Faces Pricing Pressures
  • Klarna IPO Update: Earnings Recap/Estimate Changes, 1Q25 Net Loss Widened to ~$101M

Circle Internet Group (CRCL): Ark, BlackRock to Anchor Oversubscribed Stablecoin IPO

By IPO Boutique

  • Circle Internet locked down a pair of anchor orders ahead of next week’s IPO which is already oversubscribed.
  • Circle posted $122m of adjusted Ebitda in Q12025 while growing revenue by 58% to $579m. 
  • The combination of anchor orders, an attractive valuation, growing metrics and a tailwind from the Trump administration all tilt the risk-reward profile in a positive direction.

Shanghai Zhida Technology Development Pre-IPO – Market Leader Faces Pricing Pressures

By Troy Wong

  • Shanghai Zhida Technology Development (SZTD) is looking to raise about US$128m in its upcoming Hong Kong IPO.
  • SZTD presents a compelling leadership position in the EV home charging market, both in China and globally, underpinned by strong industry tailwinds and a diversified product-service offering.
  • However, recent declines in revenue and margins driven by pricing pressures and high customer concentration raise concerns about the sustainability of its growth and profitability.

Klarna IPO Update: Earnings Recap/Estimate Changes, 1Q25 Net Loss Widened to ~$101M

By Andrei Zakharov

  • Klarna Group, a founder-led BNPL giant and leading fintech company, will try to make another one IPO push in the second half of the year.
  • With the most recent F-1/A, the company reported worse-than-expected 1Q25 results, including total revenue of $701M (+9% YoY) and operating loss of $90M, up ~221% YoY.
  • Klarna Group 1Q net loss nearly tripled to ~$101M on mid-single-digit GMV growth, weaker-than-expected interest income and high SBC expense (~8% of revenues).

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May 31
0

Daily Brief Credit: Lucror Analytics – Morning Views Asia and more

By | Credit, Daily Briefs

In today’s briefing:

  • Lucror Analytics – Morning Views Asia

Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • US treasuries climbed yesterday, on the back of a strong auction of 7Y notes and amid a soft GDP data release.
  • The yield on the 2Y UST fell 5 bps to 3.94%, while that on the 10Y UST declined 6 bps to 4.42%.
  • Equities climbed on the back of solid results from Nvidia Corp, albeit the extent of gains was pared later in the day on slowing economic data and legal uncertainties over tariffs.

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May 31
0

Daily Brief Macro: HEW: Macro Hokey Pokey and more

By | Daily Briefs, Macro

In today’s briefing:

  • HEW: Macro Hokey Pokey
  • Walker’s Weekly: Dr. Jim’s Summary of Key Global Macro Developments – 30 May 2025
  • CX Daily: Court Sounds Alarm About Corruption in Big Tech
  • Strong Monsoon Over Key Rubber Producing Nations
  • India: Real GDP Grew 7.4%YoY in Jan-Mar’25; Likely to Accelerate to 8% This Year

HEW: Macro Hokey Pokey

By Phil Rush

  • Markets danced the Hokey Pokey to a drumbeat of lawfare and whimsical Presidential decrees. Tariffs were in, out, out, in, with tired pricing relatively unchanged overall.
  • Underlying GDP trends remain unbroken by the disruptive announcements of recent months, with the superior US productivity performance still internationally enticing.
  • Next week’s ECB rate cut remains one of the least uncertain macro stories. However, guidance should be much more hesitant about cutting again, while leaning that way.

Walker’s Weekly: Dr. Jim’s Summary of Key Global Macro Developments – 30 May 2025

By Dr. Jim Walker

  • U.S. Q1 GDP fell slightly, distorted by a sharp 42% surge in imports ahead of tariff changes.

  • Korea cut rates to 2.5%, with further easing expected to support weak investment.

  • Global trade disruptions continue to fuel economic uncertainty and complicate forecasting.

CX Daily: Court Sounds Alarm About Corruption in Big Tech

By Caixin Global

  • Corruption / In Depth: Court sounds alarm about corruption in big tech.
  • It revealed that in the four years through 2024 the court handled 127 criminal cases involving corruption in the industry.
  • The district hosts many internet companies’ offices, both headquarters and local branches.

Strong Monsoon Over Key Rubber Producing Nations

By Vinod Nedumudy

  • Vietnam, Thailand, Cambodia to receive above normal rains  
  • Neutral phase of ENSO with La Nina like pattern favoring rains  
  •  Weather portends a reasonable production season for Ivory Coast  

India: Real GDP Grew 7.4%YoY in Jan-Mar’25; Likely to Accelerate to 8% This Year

By Prasenjit K. Basu

  • Real GDP grew 7.4%YoY in Q4/FY25 with PCE and GFCF growing 7%+, bringing FY25 growth to 6.5%, and the 4yr moving average of real GDP growth to 8.25% for FY22-FY25. 
  • Manufacturing decelerated to 4.5% growth in FY25 (from 12.3% in FY24), as high interest rates constrained GFCF, until a 25bp cut in Feb’25 enabled GFCF to rebound 9.4% in Q4/FY25.
  • With interest rates set to decline 100bp from Apr-Dec’25, GFCF should grow 10.5% in FY26, while PCE accelerates to 7.5% growth, enabling real GDP to grow 8.5% in FY26.

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May 31
0

Daily Brief Industrials: Asia File Corp, Shanghai Zhida Technology Development Co Ltd, SharkNinja , Wee Hur Holdings, Rockwell Automation, BQE Water , Adani Ports & Special Economic Zone and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Asia File Update : 1st Quarter Results
  • Shanghai Zhida Technology Development Pre-IPO – Market Leader Faces Pricing Pressures
  • SharkNinja Unleashes 25 Game-Changing Products: Can They Impact Its 2025 Growth Story?
  • 25 Most Net Sold Stocks by Retail in May Averaged 9% Total Returns
  • Rockwell Automation: Growth in Key Verticals & Other Factors Driving Our Optimism!
  • BQE: Monster Q1 Beat on Technical Services Outperformance
  • Lucror Analytics – Morning Views Asia

Asia File Update : 1st Quarter Results

By Punit Khanna

  • Operating Business did well with filing revenues marginally declining and food ware business growing
  • One off write off investment in associate and intangible asset
  • Maintain the view that Risk Reward are asymmetrical as the company trades below cash

Shanghai Zhida Technology Development Pre-IPO – Market Leader Faces Pricing Pressures

By Troy Wong

  • Shanghai Zhida Technology Development (SZTD) is looking to raise about US$128m in its upcoming Hong Kong IPO.
  • SZTD presents a compelling leadership position in the EV home charging market, both in China and globally, underpinned by strong industry tailwinds and a diversified product-service offering.
  • However, recent declines in revenue and margins driven by pricing pressures and high customer concentration raise concerns about the sustainability of its growth and profitability.

SharkNinja Unleashes 25 Game-Changing Products: Can They Impact Its 2025 Growth Story?

By Baptista Research

  • SharkNinja’s first quarter results for 2025 reflect a period of both significant achievements and challenges, painting a nuanced picture for potential investors.
  • The company demonstrated resilience in sales growth and strategic adaptability amidst an uncertain macroeconomic backdrop.
  • Let’s explore both the positive and negative aspects of the financial results and strategic directions highlighted in the call.

25 Most Net Sold Stocks by Retail in May Averaged 9% Total Returns

By Geoff Howie

  • The 25 Singapore stocks most net sold by retail in May averaged 8.5% total returns, outperforming the STI’s 2.9%.
  • Retail investors net sold S$280 million in Singapore stocks in May, while institutions net bought S$306,522.
  • Singapore Airlines was the most net sold stock by retail, gaining 7% in May, with a record S$2.8 billion net profit.

Rockwell Automation: Growth in Key Verticals & Other Factors Driving Our Optimism!

By Baptista Research

  • Rockwell Automation’s recent quarterly results provided a mixed yet insightful view into the company’s current performance and future outlook.
  • The company exhibited resilience in a challenging economic environment characterized by policy uncertainty and tariff implementation.
  • Rockwell’s initiatives to diversify its supply chain locations and secure alternative sourcing have positioned it to navigate these complexities more adeptly.

BQE: Monster Q1 Beat on Technical Services Outperformance

By Atrium Research

  • What you need to know: • BQE reported Q1 financial results that largely smashed our estimates across the board due to rapid growth in its technical services segment.
  • • Q1 proportional revenue came in at $7.9M (+133% YoY), beating our estimate of $3.9M.
  • Adjusted EBITDA was $1.9M (24% margin) compared to our estimate of breakeven (0% margin).

Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • US treasuries climbed yesterday, on the back of a strong auction of 7Y notes and amid a soft GDP data release.
  • The yield on the 2Y UST fell 5 bps to 3.94%, while that on the 10Y UST declined 6 bps to 4.42%.
  • Equities climbed on the back of solid results from Nvidia Corp, albeit the extent of gains was pared later in the day on slowing economic data and legal uncertainties over tariffs.

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May 31
0

Daily Brief Singapore: SGX Rubber Future TSR20, Wee Hur Holdings and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Strong Monsoon Over Key Rubber Producing Nations
  • 25 Most Net Sold Stocks by Retail in May Averaged 9% Total Returns

Strong Monsoon Over Key Rubber Producing Nations

By Vinod Nedumudy

  • Vietnam, Thailand, Cambodia to receive above normal rains  
  • Neutral phase of ENSO with La Nina like pattern favoring rains  
  •  Weather portends a reasonable production season for Ivory Coast  

25 Most Net Sold Stocks by Retail in May Averaged 9% Total Returns

By Geoff Howie

  • The 25 Singapore stocks most net sold by retail in May averaged 8.5% total returns, outperforming the STI’s 2.9%.
  • Retail investors net sold S$280 million in Singapore stocks in May, while institutions net bought S$306,522.
  • Singapore Airlines was the most net sold stock by retail, gaining 7% in May, with a record S$2.8 billion net profit.

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May 31
0

Daily Brief Energy/Materials: SGX Rubber Future TSR20, Daido Steel, Mec Co Ltd, Omai Gold Mines, Pembina Pipeline , Western Midstream Partners LP, Wheaton Precious Metals, Arrow Exploration Corp, Zephyr Energy and more

By | Daily Briefs, Energy & Materials Sector

In today’s briefing:

  • Strong Monsoon Over Key Rubber Producing Nations
  • Daido Steel Co., Ltd (5471 JP): Research Update
  • MEC Co., Ltd (4971 JP): Research Update
  • OMG: Strong Drill Results from Wenot; MRE in 2-3 Months
  • Pembina Pipeline Corporation: An Insight Into Its Recent Contractual Agreements & Revenue Stability!
  • Western Midstream: An Insight Into Its Pathfinder Pipeline Project!
  • Wheaton Precious Metals: 6 Critical Factors That Will Define Its Success in 2025 & Beyond!
  • Arrow Exploration Corp. (AIM: AXL): Gearing-up for acquisitions?
  • Zephyr Energy Plc (AIM: ZPHR): Paradox Resources boost following interpretation of well test

Strong Monsoon Over Key Rubber Producing Nations

By Vinod Nedumudy

  • Vietnam, Thailand, Cambodia to receive above normal rains  
  • Neutral phase of ENSO with La Nina like pattern favoring rains  
  •  Weather portends a reasonable production season for Ivory Coast  

Daido Steel Co., Ltd (5471 JP): Research Update

By Nippon Investment Bespoke Research UK

  • Daido Steel (5471 JP) produced FY24 (March year-end) results full-year OP [IFRS basis] of ¥39,408mil (-6.7% YoY) on sales of ¥574,945mil (-0.6% YoY).
  • Due to multiple unknown factors surrounding the business environment such as impact from the US trade tariff policy and volatile FOREX, Daido Steel only released FY25 1H guidance.
  • The firm is guiding for 1H OP of ¥12,500mil (-31.5% YoY / -40.9% HoH) on sales of ¥275,000mil (-3.0% YoY / -5.7% HoH).

MEC Co., Ltd (4971 JP): Research Update

By Nippon Investment Bespoke Research UK

  • MEC’s (4971 JP) FY25 (Dec year-end) Q1 results were largely in line with guidance for OP to rise +3.8% YoY / +19.8% QoQ to ¥1,093mil on sales of ¥4,423mil (+1.6% YoY / -2.8% QoQ).
  • Chemical segment sales rose +8.0% YoY / -4.5% QoQ to ¥4,237mil, thanks to 1) a steady increase in demand for chemicals used in high-end packages related to generative AI, and 2) a gradual recovery in demand associated with PCs, smartphones and general servers.
  • MEC is guiding for FY25 1H OP of ¥2,250mil (-4.8% YoY) on sales of ¥9,600mil (+8.1% YoY), and full-year OP of ¥5,000mil (+9.6% YoY) on sales of ¥20,000mil (+9.7% YoY).

OMG: Strong Drill Results from Wenot; MRE in 2-3 Months

By Atrium Research

  • What you need to know: • Omai announced assay results from three new drill holes and one hole extension, totalling 2,607m at the Wenot deposit.
  • • Highlights include a new discovery at West Wenot: 2.63 g/t Au over 27.5m, including 4.68 g/t over 9.5m.
  • 16 holes remain pending at Wenot, part of the expanded 2025 drill program (now >25,000m).

Pembina Pipeline Corporation: An Insight Into Its Recent Contractual Agreements & Revenue Stability!

By Baptista Research

  • Pembina Pipeline Corporation’s Q1 2025 financial results reveal a mixed bag of outcomes that provide both opportunities and challenges for investors to consider.
  • The company reported a robust adjusted EBITDA of $1.167 billion, marking a 12% increase from the same period last year.
  • This growth sets a positive tone for 2025 and reassures investors as Pembina targets the midpoint of its adjusted EBITDA guidance range of $4.2 billion to $4.5 billion.

Western Midstream: An Insight Into Its Pathfinder Pipeline Project!

By Baptista Research

  • Western Midstream Partners, LP reported a mixed financial performance in the first quarter of 2025, reflecting both positive and challenging aspects.
  • The company’s adjusted EBITDA stood at $594 million, marking an improvement from the previous quarter, despite a slight decline in the adjusted gross margin primarily due to reduced throughput and a revenue recognition adjustment in the preceding quarter.
  • Operating expenses saw a reduction, driven by lower operating and maintenance costs and general and administrative expenses.

Wheaton Precious Metals: 6 Critical Factors That Will Define Its Success in 2025 & Beyond!

By Baptista Research

  • Wheaton Precious Metals reported a strong start to 2025 during their first quarter results, showcasing both operational and financial highlights.
  • On the operational side, Wheaton indicated robust performance from several core assets, notably the Salobo mine, which delivered an impressive 71,300 ounces of attributable gold production.
  • This represented a 16% increase from the previous year, driven by successful throughput at the Salobo III expansion.

Arrow Exploration Corp. (AIM: AXL): Gearing-up for acquisitions?

By Auctus Advisors

  • • 1Q25 production was 4,085 boe/d with no horizontal wells drilled in the period.
  • RCE is more mature than CN and while no drilling has taken place at RCE, the decline rate between 4Q24 and 1Q25 was only ~5%.
  • • 1Q25 Production was constrained by increased water production preventing the company increasing the speed of the pumps at some of its producing wells.

Zephyr Energy Plc (AIM: ZPHR): Paradox Resources boost following interpretation of well test

By Auctus Advisors

  • • The analysis of the well test result at well 36-2R suggests recoverable resources of 0.84-1.24 mmboe for the 4,000 feet lateral.
  • The reservoir characteristics are consistent across the length of the lateral with consistent contribution from the reservoir matrix to the flow rate.
  • Extrapolating these results across a longer lateral of 10,000 to 15,000 feet suggests recoverable volumes per well of 9 bcf to 37.5 bcf with a condensate yield of 20-60 bbl/mmcf.

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May 31
0

Daily Brief South Korea: CosmoAM&T , SK Hynix, Samyang Foods and more

By | Daily Briefs, South Korea

In today’s briefing:

  • An Off-Radar One-Day Passive Flow Trading Play from the KOSPI 200 Sector Indices
  • Samsung Still in the Woods, SK Hynix Still Ahead. China Semi News (Huawei)
  • Korean F&B: Focus on Companies With Strongest Export Growth

An Off-Radar One-Day Passive Flow Trading Play from the KOSPI 200 Sector Indices

By Sanghyun Park

  • June’s rebalance brings rare moves in key sector indices: HD Hyundai Marine Solution (443060 KS) joins Heavy Industry, while Cosmo AM&T (005070 KS) exits IT.
  • TIGER flows on June 12 may hit KRW 6B (HD Marine) and KRW 4B (Cosmo), implying 0.3–0.6x DTV impact — notable given both names’ low liquidity.
  • KOSPI 200 flows may fade early, but TIGER sector flows remain stealthy, raising odds of flow-driven price action on June 12 — a potential long-short day trade setup.

Samsung Still in the Woods, SK Hynix Still Ahead. China Semi News (Huawei)

By Nicolas Baratte

  • Samsung 3nm yields improving (50-60%) but still far behind TSMC (85-90%)
  • SK Hynix is finalizing HBM4 agreements with Nvidia, Samsung is still not qualified for HBM3e.
  • Huawei into semiconductor chemicals? The vulnerability is photo-resist, but that’s very hard to do 

Korean F&B: Focus on Companies With Strongest Export Growth

By Douglas Kim

  • In this insight, we provide 3 major fundamental criteria for screening major Korean F&B companies. 
  • Three major criteria include 3 years CAGR revenue growth of 5% or more, increase in net margin in 2024, and overseas sales more than 10% of total sales.
  • Of the 30 Korean F&B companies mentioned in this insight, only six companies meet these criteria including Samyang Foods, Orion Corp, Hitejinro, Lotte Wellfood, Daesang Corporation, and Pulmuone.

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May 31
0

Daily Brief Industrials: Asia File Corp, Shanghai Zhida Technology Development Co Ltd, SharkNinja , Wee Hur Holdings, Rockwell Automation, BQE Water , Adani Ports & Special Economic Zone and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Asia File Update : 1st Quarter Results
  • Shanghai Zhida Technology Development Pre-IPO – Market Leader Faces Pricing Pressures
  • SharkNinja Unleashes 25 Game-Changing Products: Can They Impact Its 2025 Growth Story?
  • 25 Most Net Sold Stocks by Retail in May Averaged 9% Total Returns
  • Rockwell Automation: Growth in Key Verticals & Other Factors Driving Our Optimism!
  • BQE: Monster Q1 Beat on Technical Services Outperformance
  • Lucror Analytics – Morning Views Asia

Asia File Update : 1st Quarter Results

By Punit Khanna

  • Operating Business did well with filing revenues marginally declining and food ware business growing
  • One off write off investment in associate and intangible asset
  • Maintain the view that Risk Reward are asymmetrical as the company trades below cash

Shanghai Zhida Technology Development Pre-IPO – Market Leader Faces Pricing Pressures

By Troy Wong

  • Shanghai Zhida Technology Development (SZTD) is looking to raise about US$128m in its upcoming Hong Kong IPO.
  • SZTD presents a compelling leadership position in the EV home charging market, both in China and globally, underpinned by strong industry tailwinds and a diversified product-service offering.
  • However, recent declines in revenue and margins driven by pricing pressures and high customer concentration raise concerns about the sustainability of its growth and profitability.

SharkNinja Unleashes 25 Game-Changing Products: Can They Impact Its 2025 Growth Story?

By Baptista Research

  • SharkNinja’s first quarter results for 2025 reflect a period of both significant achievements and challenges, painting a nuanced picture for potential investors.
  • The company demonstrated resilience in sales growth and strategic adaptability amidst an uncertain macroeconomic backdrop.
  • Let’s explore both the positive and negative aspects of the financial results and strategic directions highlighted in the call.

25 Most Net Sold Stocks by Retail in May Averaged 9% Total Returns

By Geoff Howie

  • The 25 Singapore stocks most net sold by retail in May averaged 8.5% total returns, outperforming the STI’s 2.9%.
  • Retail investors net sold S$280 million in Singapore stocks in May, while institutions net bought S$306,522.
  • Singapore Airlines was the most net sold stock by retail, gaining 7% in May, with a record S$2.8 billion net profit.

Rockwell Automation: Growth in Key Verticals & Other Factors Driving Our Optimism!

By Baptista Research

  • Rockwell Automation’s recent quarterly results provided a mixed yet insightful view into the company’s current performance and future outlook.
  • The company exhibited resilience in a challenging economic environment characterized by policy uncertainty and tariff implementation.
  • Rockwell’s initiatives to diversify its supply chain locations and secure alternative sourcing have positioned it to navigate these complexities more adeptly.

BQE: Monster Q1 Beat on Technical Services Outperformance

By Atrium Research

  • What you need to know: • BQE reported Q1 financial results that largely smashed our estimates across the board due to rapid growth in its technical services segment.
  • • Q1 proportional revenue came in at $7.9M (+133% YoY), beating our estimate of $3.9M.
  • Adjusted EBITDA was $1.9M (24% margin) compared to our estimate of breakeven (0% margin).

Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • US treasuries climbed yesterday, on the back of a strong auction of 7Y notes and amid a soft GDP data release.
  • The yield on the 2Y UST fell 5 bps to 3.94%, while that on the 10Y UST declined 6 bps to 4.42%.
  • Equities climbed on the back of solid results from Nvidia Corp, albeit the extent of gains was pared later in the day on slowing economic data and legal uncertainties over tariffs.

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