Smartkarma Daily Briefs

• After ANE Cayman Inc (9956 HK), a road freight transportation play, was suspended pursuant to the Takeovers Code, an Offer from PE outfit Centurium Partners, a pre-IPO investor, was expected. 
• And this is what unfolded. Centurium, together with Temasek and Singapore-based asset manager True Light, are offering HK$12.18/share (best & final) via a Scheme, a 48.54% premium to undisturbed.
• A scrip alternative is present (mix & match). This is a pre-conditional Offer: it requires SAMR signing off. The FA is JPM. This should help smooth over the reg process.

• On 29 October, SK Square announced that it is selling its stake in 11st to SK Planet. This is likely to have a slightly negative impact on SK Square.
• Given SK Planet’s limited financial resources, it is likely that SK Square will provide funding to SK Planet through a capital increase.
• However, the biggest factor driving SK Square’s share price right now is the continued surge in SK Hynix’s share price. 

• Each aircraft is projected to produce roughly $13 million in lifetime revenue at a 50% margin, driven largely by recurring battery replacement and service contracts.
• There are $300 million in anchor orders and a 5% directed share program. The deal is reportedly more than 10-times oversubscribed, according to our sources.
• The potential for Beta Technologies as a company is immense in a market with few operators. The critical story surrounding the recurring battery-driven economics makes this IPO highly-intriguing.

• While CIMC Enric Holdings (3899 HK)‘s share price has lagged YTD, its 3Q25 and 9M25 results look decent with 6.2% and 12.9% YoY increase, respectively.
• Its backlog orders amount of Rmb30.8bn, up by 10.9% YoY, is a record high. This is already enough to cover the full-year FY26 projected revenue.
• With a 13.4% 3-year EPS CAGR, its PERs are inexpensive. Meanwhile, it is in an excellent position to thrive under China’s 15th Five-Year Plan (2026-2030).

• Vicor Corporation surged 27% in a single session to $82.64, following a bullish Q3 2025 earnings report, rapid expansion of its IP licensing business, and deepening engagements with hyperscalers and AI chipmakers.
• With net income more than doubling year-over-year and licensing revenue on track to exceed $200 million annually, Vicor is increasingly being recognized not just as a power module manufacturer but as a dual-engine IP and hardware company riding the AI wave.
• Analysts from Needham and Craig-Hallum upgraded the stock, citing its growing relevance in AI data center infrastructure and the monetization of its patented power delivery technologies.

• Greaves Cotton (GRV IN) has evolved from a traditional diesel engine manufacturer into a comprehensive fuel-agnostic mobility and engineering solutions provider.  
• Greaves Electric Mobility Ltd (GEML) (1295040D IN) its subsidiary (known by its flagship brand ‘Ampere’) plans to come out with an IPO of INR 10 bn and an offer-for-sale.
• Regarding forensics, we draw comfort from the Management’s ability to diversify its businesses and make value-accretive acquisitions. However, frequent churn in management warrants attention.

• SK Square is a South Korean investment holding company, spun off from SK Telecom in 2021, with a strategic focus on the semiconductor and information and communication technology (ICT) sectors.
• The company’s intrinsic value and performance are overwhelmingly tied to its cornerstone asset, a significant ~20% stake in SK Hynix, a global leader in the memory semiconductor market.
• Future value creation is expected to be driven by the performance of SK Hynix, the potential narrowing of its substantial Net Asset Value (NAV) discount, and strategic investments in new growth areas, though it faces high volatility from the semiconductor industry.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

• TransUnion reported a strong third quarter in 2025, demonstrating impressive growth and operational strides with regard to technology modernization, strategic acquisitions, and enhanced shareholder returns.
• The company exceeded all key guidance metrics, supporting a cautiously optimistic outlook for the future amid challenges and opportunities.
• A major highlight of the quarter was TransUnion’s 11% organic constant currency revenue growth, excluding last year’s breach win—a clear indicator of solid underlying business performance.

Key points (machine generated)

• TrueBlue has faced nearly a decade of revenue decline and rejected multiple acquisition offers from HireQuest, including a $12.60 per share bid.
• HireQuest is recognized for its superior business model, contrasting with TrueBlue’s ineffective strategies.
• TrueBlue’s future depends on management-led turnaround efforts or a potential sale, both of which could benefit investors.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Union Pacific delivered a commendable performance in the third quarter of 2025, with notable financial gains tempered by some challenging market conditions.
• The company reported an adjusted earnings per share of $3.08, reflecting a 12% increase compared to the previous year, driven primarily by core pricing gains and operational efficiencies.
• This performance was achieved despite a slight decline in volume and modest headwinds due to lower fuel surcharge revenue.

• After ANE Cayman Inc (9956 HK), a road freight transportation play, was suspended pursuant to the Takeovers Code, an Offer from PE outfit Centurium Partners, a pre-IPO investor, was expected. 
• And this is what unfolded. Centurium, together with Temasek and Singapore-based asset manager True Light, are offering HK$12.18/share (best & final) via a Scheme, a 48.54% premium to undisturbed.
• A scrip alternative is present (mix & match). This is a pre-conditional Offer: it requires SAMR signing off. The FA is JPM. This should help smooth over the reg process.

• On 29 October, SK Square announced that it is selling its stake in 11st to SK Planet. This is likely to have a slightly negative impact on SK Square.
• Given SK Planet’s limited financial resources, it is likely that SK Square will provide funding to SK Planet through a capital increase.
• However, the biggest factor driving SK Square’s share price right now is the continued surge in SK Hynix’s share price. 

• Each aircraft is projected to produce roughly $13 million in lifetime revenue at a 50% margin, driven largely by recurring battery replacement and service contracts.
• There are $300 million in anchor orders and a 5% directed share program. The deal is reportedly more than 10-times oversubscribed, according to our sources.
• The potential for Beta Technologies as a company is immense in a market with few operators. The critical story surrounding the recurring battery-driven economics makes this IPO highly-intriguing.

• While CIMC Enric Holdings (3899 HK)‘s share price has lagged YTD, its 3Q25 and 9M25 results look decent with 6.2% and 12.9% YoY increase, respectively.
• Its backlog orders amount of Rmb30.8bn, up by 10.9% YoY, is a record high. This is already enough to cover the full-year FY26 projected revenue.
• With a 13.4% 3-year EPS CAGR, its PERs are inexpensive. Meanwhile, it is in an excellent position to thrive under China’s 15th Five-Year Plan (2026-2030).

• Vicor Corporation surged 27% in a single session to $82.64, following a bullish Q3 2025 earnings report, rapid expansion of its IP licensing business, and deepening engagements with hyperscalers and AI chipmakers.
• With net income more than doubling year-over-year and licensing revenue on track to exceed $200 million annually, Vicor is increasingly being recognized not just as a power module manufacturer but as a dual-engine IP and hardware company riding the AI wave.
• Analysts from Needham and Craig-Hallum upgraded the stock, citing its growing relevance in AI data center infrastructure and the monetization of its patented power delivery technologies.

• Greaves Cotton (GRV IN) has evolved from a traditional diesel engine manufacturer into a comprehensive fuel-agnostic mobility and engineering solutions provider.  
• Greaves Electric Mobility Ltd (GEML) (1295040D IN) its subsidiary (known by its flagship brand ‘Ampere’) plans to come out with an IPO of INR 10 bn and an offer-for-sale.
• Regarding forensics, we draw comfort from the Management’s ability to diversify its businesses and make value-accretive acquisitions. However, frequent churn in management warrants attention.

• SK Square is a South Korean investment holding company, spun off from SK Telecom in 2021, with a strategic focus on the semiconductor and information and communication technology (ICT) sectors.
• The company’s intrinsic value and performance are overwhelmingly tied to its cornerstone asset, a significant ~20% stake in SK Hynix, a global leader in the memory semiconductor market.
• Future value creation is expected to be driven by the performance of SK Hynix, the potential narrowing of its substantial Net Asset Value (NAV) discount, and strategic investments in new growth areas, though it faces high volatility from the semiconductor industry.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

• TransUnion reported a strong third quarter in 2025, demonstrating impressive growth and operational strides with regard to technology modernization, strategic acquisitions, and enhanced shareholder returns.
• The company exceeded all key guidance metrics, supporting a cautiously optimistic outlook for the future amid challenges and opportunities.
• A major highlight of the quarter was TransUnion’s 11% organic constant currency revenue growth, excluding last year’s breach win—a clear indicator of solid underlying business performance.

Key points (machine generated)

• TrueBlue has faced nearly a decade of revenue decline and rejected multiple acquisition offers from HireQuest, including a $12.60 per share bid.
• HireQuest is recognized for its superior business model, contrasting with TrueBlue’s ineffective strategies.
• TrueBlue’s future depends on management-led turnaround efforts or a potential sale, both of which could benefit investors.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Union Pacific delivered a commendable performance in the third quarter of 2025, with notable financial gains tempered by some challenging market conditions.
• The company reported an adjusted earnings per share of $3.08, reflecting a 12% increase compared to the previous year, driven primarily by core pricing gains and operational efficiencies.
• This performance was achieved despite a slight decline in volume and modest headwinds due to lower fuel surcharge revenue.