Smartkarma Daily Briefs, Author at Smartkarma

Jul 20

Daily Brief United States: Tesla , Whitefiber, ZEEKR and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

TSLA Q2 Earnings: Options Appear Complacent Vs. TSLA’s Volatile History
WhiteFiber, Inc. (WYFI): Peeking at the IPO Prospectus of an AI Infrastructure Solutions Company
(Mostly) Asia-Pac M&A: ZEEKR, DD Group, Hanil Cement, Adriatic Metals, Abacus Storage, PointsBet

TSLA Q2 Earnings: Options Appear Complacent Vs. TSLA’s Volatile History

By John Ley

TSLA is set to report Q2 earnings after the close on Wednesday, July 23, following a 28% rally since its last report.
We examine implied vol and the projected earnings-day move, which may be underpricing event risk.
Volatility positioning and historical earnings reactions are assessed to help frame expectations.

WhiteFiber, Inc. (WYFI): Peeking at the IPO Prospectus of an AI Infrastructure Solutions Company

By IPO Boutique

Bit Digital’s division of high performance computing (HPCs) is going public with B. Riley and Needham leading the IPO.
They had revenue of $8.17 million and $16.77 million and net income of $826.5 thousand and $1.43 million in the first quarter or 2024 and 2025, respectively.
A comp to this IPO, CoreWeave (CRWV US), saw its company highly scrutinized in the pre-IPO process only to see the stock outperform once going public.

(Mostly) Asia-Pac M&A: ZEEKR, DD Group, Hanil Cement, Adriatic Metals, Abacus Storage, PointsBet

By David Blennerhassett

I tally 40 – mostly firm, mostly Asia-Pac – arb transactions currently being discussed and analysed on Smartkarma.
Two new deals were discussed on Smartkarma this week: DD Group (3073 JP)‘s MBO and the Hanil Cement Co Ltd/New (300720 KS)/Hanil Hyundai Cement (006390 KS) merger.
Key updates/news took place on PointsBet Holdings (PBH AU), Adriatic Metals PLC (ADT AU), Abacus Storage King (ASK AU), New World Resources (NWC AU), and ZEEKR (ZK US).

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Jul 20

Daily Brief South Korea: LG Chem Ltd and more

By Smartkarma Daily Briefs | Daily Briefs, South Korea

In today’s briefing:

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (18 July to 1 August 2025)

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (18 July to 1 August 2025)

By Douglas Kim

In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the two weeks (18 July to 1 August 2025).
Our top 10 picks were up on average 4.5% in the past two weeks, slightly outperforming KOSPI which was up 4.4% in the same period.
The top 10 picks in this bi-weekly include Hanil Cement, LG CNS, KCC Corp, Poongsan, Paradise, Samsung Electronics, Naver, SM Entertainment, LG Chem, and SK Inc.

💡 Before it’s here, it’s on Smartkarma

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

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✓ Personalised Alerts
✓ Custom Watchlists
✓ Company Data and News
✓ Events & Webinars

Jul 20

Daily Brief India: NSDL and more

By Smartkarma Daily Briefs | Daily Briefs, India

In today’s briefing:

NSDL Vs CDSL: A Bottom-Up Comparison

NSDL Vs CDSL: A Bottom-Up Comparison

By Himanshu Dugar

NSDL has been gearing up for its IPO and is very likely to hit the markets shortly within the SEBI stipulated deadline of 31st July.
NSDL historically had the upper hand over CDSL as institutional clients led to strong outperformance. But the booming retail investment landscape since 2021 has turned the tables on the leader.
Given that the trend of retail participation inching is expected to continue, NSDL needs to rejuvenate its approach to plough back market share. Payments banking business cant offset the impact.

💡 Before it’s here, it’s on Smartkarma

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

✓ Unlimited Research Summaries
✓ Personalised Alerts
✓ Custom Watchlists
✓ Company Data and News
✓ Events & Webinars

Jul 20

Daily Brief Japan: Seven & I Holdings and more

By Smartkarma Daily Briefs | Daily Briefs, Japan

In today’s briefing:

Weekly Deals Digest (20 Jul) – Seven & I, Shibaura, DD Group, Dickson, Abacus Storage, PointsBet
Last Week In Event SPACE: Seven & I, Krungthai Card, GMO Internet, Jardine Matheson

Weekly Deals Digest (20 Jul) – Seven & I, Shibaura, DD Group, Dickson, Abacus Storage, PointsBet

By Arun George

A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments: NSDL (NSDL IN) is seeking to raise US$400 million
Event-Driven developments: Seven & I Holdings (3382 JP), Shibaura Electronics (6957 JP), DD Group (3073 JP), Dickson Concepts Intl (113 HK), Abacus Storage King (ASK AU), PointsBet Holdings (PBH AU).

Last Week In Event SPACE: Seven & I, Krungthai Card, GMO Internet, Jardine Matheson

By David Blennerhassett

Alimentation Couche-Tard (ATD CN) walks away from Seven & I Holdings (3382 JP), and accuses 7&i’s Board, management, and the Special Committee of bad faith and bad governance.
Buy Krungthai Card (KTC TB) with both hands as pledged sharesfall to 3.5% of shares outstanding from 16.3% the previous month.
If you have borrow on GMO Internet (4784 JP), use it. Otherwise, avoid like the plague. It would not be surprising if the TSE were to ding someone on manipulation.

💡 Before it’s here, it’s on Smartkarma

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

✓ Unlimited Research Summaries
✓ Personalised Alerts
✓ Custom Watchlists
✓ Company Data and News
✓ Events & Webinars

Jul 20

Daily Brief ECM: NSDL Vs CDSL: A Bottom-Up Comparison and more

By Smartkarma Daily Briefs | Daily Briefs, ECM

In today’s briefing:

NSDL Vs CDSL: A Bottom-Up Comparison
China Healthcare Weekly(July20)-WuXi AppTec 25H1, Sino Biopharm Acquire LaNova, United Lab Placement
Firefly Aerospace Inc. (FLY): Peeking at the IPO Prospectus of the Next Space & Defense Tech Company
WhiteFiber, Inc. (WYFI): Peeking at the IPO Prospectus of an AI Infrastructure Solutions Company

NSDL Vs CDSL: A Bottom-Up Comparison

By Himanshu Dugar

NSDL has been gearing up for its IPO and is very likely to hit the markets shortly within the SEBI stipulated deadline of 31st July.
NSDL historically had the upper hand over CDSL as institutional clients led to strong outperformance. But the booming retail investment landscape since 2021 has turned the tables on the leader.
Given that the trend of retail participation inching is expected to continue, NSDL needs to rejuvenate its approach to plough back market share. Payments banking business cant offset the impact.

China Healthcare Weekly(July20)-WuXi AppTec 25H1, Sino Biopharm Acquire LaNova, United Lab Placement

By Xinyao (Criss) Wang

WuXi AppTec’s 25H1 Profit Alert indicates the whole year performance may beat expectations. However, “valuation discount” reflects geopolitical risks. The intensive share repurchases is insignificant compared with previous share reductions.
Sino Biopharm will pay US$500.9 million to acquire LaNova. Based on pipeline/licensing cooperation, this is a deal with very high cost performance. However, valuation contribution may remain to be seen.
United Lab plans to raise HK$2.17 billion in net proceeds from Placement. Valuation logic will shift from a traditional bulk medicine company to innovative drug company. 15x P/E is expected.

Firefly Aerospace Inc. (FLY): Peeking at the IPO Prospectus of the Next Space & Defense Tech Company

By IPO Boutique

Their operational launch vehicle, Alpha, is the first and only U.S.-based orbital rocket in the 1,000 kilograms class to successfully reach orbit, with four launches completed successfully.
They had revenue of $55.23 million and $60.79 million and net loss of $135.46 million and $231.13 million in 2023 and 2024, respectively.
The company is targeting a potential IPO in the second half of July or early August with peers and the sector outperforming in the short term.

WhiteFiber, Inc. (WYFI): Peeking at the IPO Prospectus of an AI Infrastructure Solutions Company

By IPO Boutique

Bit Digital’s division of high performance computing (HPCs) is going public with B. Riley and Needham leading the IPO.
They had revenue of $8.17 million and $16.77 million and net income of $826.5 thousand and $1.43 million in the first quarter or 2024 and 2025, respectively.
A comp to this IPO, CoreWeave (CRWV US), saw its company highly scrutinized in the pre-IPO process only to see the stock outperform once going public.

💡 Before it’s here, it’s on Smartkarma

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

✓ Unlimited Research Summaries
✓ Personalised Alerts
✓ Custom Watchlists
✓ Company Data and News
✓ Events & Webinars

Jul 20

Daily Brief Event-Driven: Dickson Concepts (113 HK): A Necessary HK Arbageddon and more

By Smartkarma Daily Briefs | Daily Briefs, Event-Driven

In today’s briefing:

Dickson Concepts (113 HK): A Necessary HK Arbageddon
Weekly Deals Digest (20 Jul) – Seven & I, Shibaura, DD Group, Dickson, Abacus Storage, PointsBet
Last Week In Event SPACE: Seven & I, Krungthai Card, GMO Internet, Jardine Matheson
(Mostly) Asia-Pac M&A: ZEEKR, DD Group, Hanil Cement, Adriatic Metals, Abacus Storage, PointsBet

Dickson Concepts (113 HK): A Necessary HK Arbageddon

By Arun George

Dickson Concepts Intl (113 HK) shareholders have voted against Sir Poon’s HK$7.20 per share offer. The vote marginally failed the <10% of all disinterested shareholders’ rejection threshold.
While painful, this deal break was arguably the correct outcome as the offer was below the net cash and Dickson is cash generative on an underlying basis.
Unlike the last HK deal break (Soundwill), the price action over the last two days indicated a done deal. My estimated break price is HK$5.00 (30% downside to last close).

Weekly Deals Digest (20 Jul) – Seven & I, Shibaura, DD Group, Dickson, Abacus Storage, PointsBet

By Arun George

A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments: NSDL (NSDL IN) is seeking to raise US$400 million
Event-Driven developments: Seven & I Holdings (3382 JP), Shibaura Electronics (6957 JP), DD Group (3073 JP), Dickson Concepts Intl (113 HK), Abacus Storage King (ASK AU), PointsBet Holdings (PBH AU).

Last Week In Event SPACE: Seven & I, Krungthai Card, GMO Internet, Jardine Matheson

By David Blennerhassett

Alimentation Couche-Tard (ATD CN) walks away from Seven & I Holdings (3382 JP), and accuses 7&i’s Board, management, and the Special Committee of bad faith and bad governance.
Buy Krungthai Card (KTC TB) with both hands as pledged sharesfall to 3.5% of shares outstanding from 16.3% the previous month.
If you have borrow on GMO Internet (4784 JP), use it. Otherwise, avoid like the plague. It would not be surprising if the TSE were to ding someone on manipulation.

(Mostly) Asia-Pac M&A: ZEEKR, DD Group, Hanil Cement, Adriatic Metals, Abacus Storage, PointsBet

By David Blennerhassett

I tally 40 – mostly firm, mostly Asia-Pac – arb transactions currently being discussed and analysed on Smartkarma.
Two new deals were discussed on Smartkarma this week: DD Group (3073 JP)‘s MBO and the Hanil Cement Co Ltd/New (300720 KS)/Hanil Hyundai Cement (006390 KS) merger.
Key updates/news took place on PointsBet Holdings (PBH AU), Adriatic Metals PLC (ADT AU), Abacus Storage King (ASK AU), New World Resources (NWC AU), and ZEEKR (ZK US).

💡 Before it’s here, it’s on Smartkarma

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

✓ Unlimited Research Summaries
✓ Personalised Alerts
✓ Custom Watchlists
✓ Company Data and News
✓ Events & Webinars

Jul 20

Daily Brief Thematic (Sector/Industry): APAC Healthcare Weekly (July 20) – Henlius Bio and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

APAC Healthcare Weekly (July 20) – Henlius Bio, CanSino, Nippon Shinyaku, JCR, Mesoblast, Sun Pharma

APAC Healthcare Weekly (July 20) – Henlius Bio, CanSino, Nippon Shinyaku, JCR, Mesoblast, Sun Pharma

By Tina Banerjee

Shanghai Henlius Biotech initiated Phase 3 U.S. clinical trial for HLX22 for gastroesophageal junction and gastric cancer. CanSino Biologics obtained clinical trial approval in China for polio vaccine.
FDA rejected Nippon Shinyaku’s new drug application for CAP-1002 for DMD. JCR Pharmaceuticals announced license agreement with Acumen Pharmaceuticals to develop Alzheimer’s disease drug using JCR’s BBB -penetrating technology platform.
Mesoblast recorded $13.2M revenue from Ryoncil post-launch March 28 through June 30. Sun Pharma launched Leqselvi in the U.S. for the treatment of adults with severe alopecia areata.

💡 Before it’s here, it’s on Smartkarma

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

✓ Unlimited Research Summaries
✓ Personalised Alerts
✓ Custom Watchlists
✓ Company Data and News
✓ Events & Webinars

Jul 20

Daily Brief Industrials: Firefly Aerospace and more

By Smartkarma Daily Briefs | Daily Briefs, Industrials

In today’s briefing:

Firefly Aerospace Inc. (FLY): Peeking at the IPO Prospectus of the Next Space & Defense Tech Company

Firefly Aerospace Inc. (FLY): Peeking at the IPO Prospectus of the Next Space & Defense Tech Company

By IPO Boutique

Their operational launch vehicle, Alpha, is the first and only U.S.-based orbital rocket in the 1,000 kilograms class to successfully reach orbit, with four launches completed successfully.
They had revenue of $55.23 million and $60.79 million and net loss of $135.46 million and $231.13 million in 2023 and 2024, respectively.
The company is targeting a potential IPO in the second half of July or early August with peers and the sector outperforming in the short term.

💡 Before it’s here, it’s on Smartkarma

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

✓ Unlimited Research Summaries
✓ Personalised Alerts
✓ Custom Watchlists
✓ Company Data and News
✓ Events & Webinars

Jul 20

Daily Brief Equity Bottom-Up: Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (18 July to 1 August 2025) and more

By Smartkarma Daily Briefs | Daily Briefs, Equity Bottom-Up

In today’s briefing:

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (18 July to 1 August 2025)
US-China Decoupling: The Reshaping of Asian Industrial Logistics – SHORT MapleTree Logistics Trust
BHP: Operations Strong in Q4/25 But Looking Fully Valued

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (18 July to 1 August 2025)

By Douglas Kim

In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the two weeks (18 July to 1 August 2025).
Our top 10 picks were up on average 4.5% in the past two weeks, slightly outperforming KOSPI which was up 4.4% in the same period.
The top 10 picks in this bi-weekly include Hanil Cement, LG CNS, KCC Corp, Poongsan, Paradise, Samsung Electronics, Naver, SM Entertainment, LG Chem, and SK Inc.

US-China Decoupling: The Reshaping of Asian Industrial Logistics – SHORT MapleTree Logistics Trust

By Jacob Cheng

The US-China decoupling is resulting in geo-political risks, causing structural changes to China’s manufacturing and logistics sector. Companies re-locate their supply chains due to “China Plus One” strategy.
Despite E-commerce remains as a long-term strong driver for China logistics, the sector is facing severe over-supply in the near term. National vacancy is 20.3% at Q1 2025
We recommend SHORT MapleTree Logistics Trust, due to its significant exposure to China logistics. DPU, NPI and ROE are on downward trend

BHP: Operations Strong in Q4/25 But Looking Fully Valued

By Graeme Cunningham

BHP reported strong operations overall for fiscal Q4/25, with iron ore, copper and coal production up yoy and a qoq recovery after rough Q3/25 Australian weather
The company released 2026E guidance, with the low-end indicating production declines for the three major divisions, although this was expected by the market
We remain concerned of potential iron ore and copper price reversals, while the shares trade near our DCF value and at a moderate premium to big cap iron ore

💡 Before it’s here, it’s on Smartkarma

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

✓ Unlimited Research Summaries
✓ Personalised Alerts
✓ Custom Watchlists
✓ Company Data and News
✓ Events & Webinars

Jul 20

Daily Brief TMT/Internet: Whitefiber and more

By Smartkarma Daily Briefs | Daily Briefs, TMT/Internet

In today’s briefing:

WhiteFiber, Inc. (WYFI): Peeking at the IPO Prospectus of an AI Infrastructure Solutions Company

WhiteFiber, Inc. (WYFI): Peeking at the IPO Prospectus of an AI Infrastructure Solutions Company

By IPO Boutique

Bit Digital’s division of high performance computing (HPCs) is going public with B. Riley and Needham leading the IPO.
They had revenue of $8.17 million and $16.77 million and net income of $826.5 thousand and $1.43 million in the first quarter or 2024 and 2025, respectively.
A comp to this IPO, CoreWeave (CRWV US), saw its company highly scrutinized in the pre-IPO process only to see the stock outperform once going public.

💡 Before it’s here, it’s on Smartkarma

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

✓ Unlimited Research Summaries
✓ Personalised Alerts
✓ Custom Watchlists
✓ Company Data and News
✓ Events & Webinars

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