Smartkarma Daily Briefs

• We highlight large and small cap companies that experienced significant insider buying during October 2025, as reported on the stock exchanges.
• October 2025 saw fewer companies reporting insider buying due to silent period before reporting their half yearly results.
• Promoters of few companies had made the purchase in September but reported on exchanges in the month of October.

• Classys is a high-growth medical aesthetics company poised for significant global expansion, driven by its flagship ‘Ultraformer’ (HIFU) and ‘Volnewmer’ (RF) product lines. The company’s growth strategy is centered on penetrating new, high-value markets such as the United States and Europe, supported by recent and anticipated regulatory approvals.
• The business model, which combines initial equipment sales with recurring revenue from high-margin consumables, has delivered a robust financial profile characterized by strong revenue growth and impressive profitability. Consumables now account for a significant and growing portion of sales, providing a stable and predictable revenue stream.
• Near-term challenges include potential margin compression due to shifts in product and geographic sales mix, as well as foreign exchange volatility. Long-term success is contingent on effective execution of its global expansion strategy, navigating intense competition, and maintaining its pace of innovation.

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• CanBas reported no operating revenue in Q1 FY06/26, with an operating loss of JPY360mn and net loss of JPY349mn.
• R&D expenses increased by 60.8% YoY to JPY283mn, while SG&A expenses rose by 4.2% YoY to JPY78mn.
• Total assets decreased by JPY378mn, mainly due to a JPY360mn reduction in cash and deposits for R&D activities.

• HeXun Biosciences operates a unique and synergistic dual-strategy business model, leveraging stable cash flow from its Contract Development and Manufacturing Organization (CDMO) services to fund its in-house development of high-potential stem cell-based new drugs.
• The company is strategically positioned in the high-growth regenerative medicine and biologics markets, with a focus on mesenchymal stem cells (MSCs) for cardiovascular diseases, a leading cause of death globally.
• Recent financial performance demonstrates exceptional growth, with revenue increasing by 119.36% and net income by 339.62% in the most recent fiscal year, transitioning the company from a loss-making entity to a profitable one with strong margin expansion.

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Key points (machine generated)

• Nagaileben Co., Ltd. reported a 3.5% increase in net sales for FY8/25, totaling ¥16,983 million, but a 10.5% decline in operating profit to ¥3,583 million due to rising costs and project delays.
• The company forecasts a 6.0% increase in net sales to ¥18,000 million and a 12.3% recovery in operating profit to ¥4,025 million for FY8/26, driven by strategic product launches.
• Nagaileben achieved a total return ratio of 204.3% for FY8/25 and plans to continue dividends and share buybacks, targeting net sales of ¥19.5 billion and operating profit of ¥4.7 billion by FY8/28.

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• FNArena’s Treasure Chest reports on money making ideas from stockbrokers and other experts.
• Today’s idea is Pro Medicus.
• Brokers reassess Pro Medicus after share price correction Quiet period offsets long-term growth momentum and contract wins AI, cloud certification, and flagship deployments strengthen outlook

• ResMed Inc. delivered a strong performance in the first quarter of fiscal year 2026, showcasing a robust operational and financial stance amidst challenging global market conditions.
• The company reported a 9% growth in revenue, or 8% in constant currency, reflecting significant contributions across its product portfolio.
• The U.S., Canada, and Latin American markets demonstrated high single-digit growth in device sales and double-digit growth in masks, contributing substantially to the overall revenue growth.

• Shenzhen Edge Medical is a leading Chinese surgical robotics company, notable for being the first in China and second globally to have multi-port, single-port, and bronchoscopy surgical robots approved for market launch.
• The company is strategically positioned to capitalize on the rapidly growing but under-penetrated surgical robotics market in China, which is supported by strong government initiatives and increasing healthcare demand.
• Despite its technological advancements and strong investor backing, the company is in its pre-revenue stage, facing significant net losses due to high R&D expenditure and intense competition from both domestic and international players.

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• Powerful Brand Heritage Underscores Market Position: With a history spanning over 350 years, Tong Ren Tang’s brand is a significant intangible asset, fostering strong consumer recognition and loyalty in the Traditional Chinese Medicine (TCM) market.
• Financial Performance Under Pressure: Despite consistent revenue growth, the company faces significant headwinds in profitability. Net income, margins, and operating cash flow have all experienced marked declines in recent years, signaling potential operational inefficiencies or competitive pressures.
• Favorable Industry Tailwinds and Government Support: The company is poised to benefit from a growing TCM market, driven by an aging population, increasing health consciousness, and strong government backing for the industry through initiatives like “Healthy China 2030”.

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• Key F2Q26 takeaways include: 1) edging up our F2026 (Mar) EPS estimate by a penny to $0.02, while our F2027 forecast remains unchanged at $0.04, as a slightly flatter revenue growth trajectory is offset by more favorable margin assumptions 2) no change to our $1.00 price target suggesting meaningful upside potential from current levels, as ETST continues to trade at what we believe to be an unsustainably low valuation despite the company’s unique business model, compelling growth track record, improving profitability, and strong balance sheet and 3) balance sheet assets totaled $8.7 million, including cash of $1.2 million as of 9/30/25, up from $5.1 million a year ago, with net cash generated from operating activities of $1.2 million for the first six months of F2026.