In today’s briefing:
- Last Week in Event SPACE: Toyota, Swire, Fancl, Barito Complex, Descente
- GHCL Textile Q1 FY25 Update
- O2O Playing a More Prominent Role in China Street Drinks
- Toyota Motor Corporation: Investment In Future Technologies & Geographic Optimization Driving Our Optimism! – Major Drivers
- Booking Holdings: Their Strategy Of Expansion Into Alternative Accommodations Paying Off? – Major Drivers
- Technically Speaking, Breakouts and Breakdowns: HONG KONG (AUGUST 9)
- MercadoLibre Inc.: Strategic Utilization of Distribution Space in Brazil & Other Major Drivers
- Etsy Inc.: Leveraging Advanced Technologies for Enhanced User Experience! – Major Drivers
- Norwegian Cruise Line Holdings Ltd.: These Are The 4 Major Growth Levers Driving Our ‘Buy’ Rating! – Financial Forecasts
- Bausch + Lomb Corporation: Acquisition of Trukera Medical A Potential Game Changer? – Major Drivers
Last Week in Event SPACE: Toyota, Swire, Fancl, Barito Complex, Descente
- The trade in Toyota Motor (7203 JP)‘s Tender offer Buyback is to understand what YOU can do in your particular position.
- Despite Swire Properties (1972 HK)‘s recent share buyback, Swire Pacific (A) (19 HK) is still preferable on a look-through P/B of 0.34x.
- Kirin bumps the Offer for Fancl (4921 JP). Given market gyration, it may represent enough of a switching opportunity to let those who still object in principle to re-allocate elsewhere.
GHCL Textile Q1 FY25 Update
- Rs. 1,000 crores allocated for growth, with Rs. 350 crores deployed. 25,000 spindles added by May 2025.
- Shift towards value-added products, including knitting, weaving, and dyed fabrics, with plans to double revenue in 3-5 years.
- Despite expansion and potential opportunities, capacity constraints and global demand shifts temper expectations in the short term.
O2O Playing a More Prominent Role in China Street Drinks
- On August 7th, Meituan’s on-demand order volume reached a historical high of 98mn on surging orders from street drinks. Meituan has connected to the backend systems of street drink vendors;
- Delivery order is a double-edged sword. It boosts volume at the expense of margin. Further, the ownership of the volume is questionable;
- With Pin-hao-fan, Meituan already atomized the small restaurants. Now Meituan is playing the same trick with street drinks. The result will be more dramatic to the benefit of Meituan.
Toyota Motor Corporation: Investment In Future Technologies & Geographic Optimization Driving Our Optimism! – Major Drivers
- Toyota Motor Corporation has released its financial results for the fiscal year ended March 2024, providing a comprehensive overview that reflects both the company’s recent successes and its strategic investments towards future growth.
- In fiscal year 2024, Toyota reported robust financial performance with total vehicle sales reaching 9.443 million units, marking a 7.0% increase from the previous fiscal year.
- This growth was largely propelled by escalated sales outside Japan, counterbalancing the dip in domestic sales due to shipment suspensions from Daihatsu Motor Company and Toyota Industries Corporation.
Booking Holdings: Their Strategy Of Expansion Into Alternative Accommodations Paying Off? – Major Drivers
- Booking Holdings, a prominent player in the global online travel market, reported its second quarter 2024 financial results, highlighting a performance that exceeded expectations in various key metrics including room nights, revenue, and adjusted EBITDA.
- Room nights booked during the quarter grew by 7% year-over-year, achieving a total of 287 million.
- Revenue and adjusted EBITDA both rose by 7% to $5.9 billion and $1.9 billion respectively, while adjusted earnings per share experienced an 11% increase.
Technically Speaking, Breakouts and Breakdowns: HONG KONG (AUGUST 9)
- Consumer sectors in China are gaining more focus as the government lays out steps to increase domestic consumption.
- Hong Kong markets performed well relative to region during recent market turmoil.
- China Education Group (839 HK) and China Reinsurance (Group) (1508 HK) experienced breakouts and China Telecom (H) (728 HK) had a breakdown. Anhui Conch Cement (914 HK) is more positive.
MercadoLibre Inc.: Strategic Utilization of Distribution Space in Brazil & Other Major Drivers
- MercadoLibre’s financial performance in the second quarter of 2024 highlighted robust growth and profitability, demonstrating strong execution across its primary business segments: commerce and fintech.
- Notably, Marcos Galperin, the company’s CEO, reiterated MercadoLibre’s commitment to enhancing the financial and operational accessibility for numerous small and medium-sized enterprises across Latin America, a principle that has been foundational since the company’s inception 25 years ago.
- From a financial perspective, the revenue reached $5.1 billion, marking a significant year-over-year growth of over 40%.
Etsy Inc.: Leveraging Advanced Technologies for Enhanced User Experience! – Major Drivers
- Etsy, during the company’s Second Quarter 2024 Earnings, reported a Gross Merchandise Sales (GMS) of $2.9 billion, reflecting a slight year-over-year decline of 2.1% on a consolidated basis.
- Despite the dip in GMS, revenue saw an uptick of 3%, totaling $648 million.
- Moreover, Etsy maintained a robust adjusted EBITDA margin of approximately 28%.
Norwegian Cruise Line Holdings Ltd.: These Are The 4 Major Growth Levers Driving Our ‘Buy’ Rating! – Financial Forecasts
- Norwegian Cruise Line Holdings recently discussed its financial performance for the second quarter of 2024, and the results have been promising, outperforming the company’s expectations and leading to upward revisions in full-year guidance.
- President and CEO Harry Sommer along with CFO Mark Kempa provided an overview of the quarter’s milestones, emphasizing the company’s strategic balance between return on experience (ROX) and return on investment (ROI).
- The positive outcomes from the quarter were underpinned by robust demand and strong pricing dynamics, leading to record-breaking advanced ticket sales.
Bausch + Lomb Corporation: Acquisition of Trukera Medical A Potential Game Changer? – Major Drivers
- In the second quarter of 2024, Bausch + Lomb demonstrated notable performance across its diverse business segments and geographic regions, sustaining a trajectory of robust growth.
- The company reported a significant year-over-year constant currency revenue growth of 20%, reflecting increases in both product volume and geographic expansion.
- Revenue growth was consistently robust across various segments, with Surgical, Vision Care, and Pharmaceuticals growing by 9%, 11%, and 61%, respectively.
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