Category

Daily Briefs

Nov 29
0

Daily Brief Japan: ROHM Co Ltd, Canon Electronics, Daicel Corp, TOPIX Banks Index, Nippo Ltd, Nextgen Inc, Okumura Engineering, Papanets, Soft99 Corp, Toyokoh and more

By | Daily Briefs, Japan

In today’s briefing:

  • Shortlist Of High Conviction Ideas Across China, Japan, India – November 2025
  • Canon Electronics (7739 JP): Canon (7751 JP)’s Tender Offer at JPY3,650
  • Asian Dividend Gems: Daicel Corp
  • Japanese Banks: TPNBNK Structural Sector Buy-Case, Preparing for Shinsei (8303) January Passive Flow
  • NIPPO LTD. (9913 JP): RESEARCH UPDATE
  • (28 Nov 2025) Nextgen Inc(3842 JP) — Fisco Company Research
  • (25 Nov 2025) Okumura Engineering(6229 JP) — Fisco Company Research
  • (25 Nov 2025) Papanets(9388 JP) — Fisco Company Research
  • (28 Nov 2025) Soft99 Corp(4464 JP) — Fisco Company Research
  • (28 Nov 2025) Toyokoh(341A JP) — Fisco Company Research

Shortlist Of High Conviction Ideas Across China, Japan, India – November 2025

By Sreemant Dudhoria,CFA

Canon Electronics (7739 JP): Canon (7751 JP)’s Tender Offer at JPY3,650

By Arun George

  • Canon Electronics (7739 JP) has recommended a tender offer from Canon Inc (7751 JP) at JPY3,650, a 32.4% premium to the last close price.
  • The offer is attractive as it is above book value (P/B of 1.21x), above the midpoint of the IFA DCF valuation range and represents an all-time high. 
  • An attractive offer facilitates meeting the required tendering rate. The offer closes on 19 January 2026 and is a done deal. 

Asian Dividend Gems: Daicel Corp

By Douglas Kim

  • Daicel is notable for being Japan’s only manufacturer of acetic acid and for holding world-leading market positions in some cellulose-acetate products and in acetate tow for cigarette filters.
  • At current prices, the dividend yield of the company is at a healthy 4.6%. Its dividend yield averaged 4.4% from FY2021 to FY2025.
  • The company has enjoyed a solid sales growth of 10.5% CAGR from FY2021 to FY2025. Operating income nearly doubled from FY2021 to FY2025.

Japanese Banks: TPNBNK Structural Sector Buy-Case, Preparing for Shinsei (8303) January Passive Flow

By Jay Cameron

  • Japanese banks are entering a new, structurally sound phase driven by the BoJ’s policy pivot, which is fundamentally elevating Net Interest Income and profitability.
  • Capital efficiency and mandatory corporate governance reforms are set to significantly close the P/B gap against global peers.
  • TOPIX Bank Index could be poised for continued outperformance over the broader market, making it an essential, high-conviction portfolio exposure as 8303 Shinsei returns to the index.

NIPPO LTD. (9913 JP): RESEARCH UPDATE

By Nippon Investment Bespoke Research UK

  • Nippo produced record earnings in FY25 1H, with OP of ¥946mil (+12.8% YoY) on sales of ¥22,186mil (+0.3% YoY).
  • While 1H sales remained flat YoY due to a decline in sales of the Electronics segment (-3.3% YoY), OP hit a semi-annual record, thanks to (1) solid growth of in-house products such as semiconductor wafer grinding carriers and (2) cost reductions in overseas factories.
  • FY25 is the final year of Nippo’s medium-term plan [MTP].

(28 Nov 2025) Nextgen Inc(3842 JP) — Fisco Company Research

By FISCO

Key points (machine generated)

  • NextGen Inc. specializes in voice communication technology solutions for various sectors and pioneered Japan’s first nationwide IP telephone service.
  • The company has developed a business model that reduces product development risks and promotes growth through standardized products and cloud services.
  • In Q2 of the fiscal year ending March 2026, NextGen reported an 18.4% revenue increase to 1,894 million yen and a 78.3% rise in operating profit to 190 million yen.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

(25 Nov 2025) Okumura Engineering(6229 JP) — Fisco Company Research

By FISCO

Key points (machine generated)

  • OKM Co., Ltd. holds a 90% market share in Japan and 40% globally in the valve industry.
  • The company has revised its fiscal year 2026 performance forecast upwards due to strong sales in marine and LNG valves.
  • OKM’s medium-term plan aims for 13.2 billion yen in sales, 1.3 billion yen in operating profit, and an ROE of 8-10% by March 2028.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

(25 Nov 2025) Papanets(9388 JP) — Fisco Company Research

By FISCO

Key points (machine generated)

  • Papanets (9388) is a service company listed on the Fukuoka Stock Exchange Q-Board in March 2025.
  • The company supports real estate management firms and related businesses with services like patrol, cleaning, and reporting through its system ‘Jun-kun.’
  • Papanets also offers comprehensive interior support, including furniture manufacturing, sales, delivery, and installation.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

(28 Nov 2025) Soft99 Corp(4464 JP) — Fisco Company Research

By FISCO

Key points (machine generated)

  • Soft99 Corporation reported a 3.0% increase in real estate-related sales to 648 million yen and a 12.8% rise in operating profit to 156 million yen.
  • The real estate rental sector declined due to tenant vacancies, while the bathing business and preventive care support business experienced growth.
  • The company revised its fiscal year 2026 forecast, projecting consolidated sales of 30,800 million yen (up 3.6%) and operating profit of 4,100 million yen (up 1.6%).

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

(28 Nov 2025) Toyokoh(341A JP) — Fisco Company Research

By FISCO

Key points (machine generated)

  • FISCO Ltd.’s report highlights TOYOKOH Inc.’s growth potential in the CoolLaser business, transitioning from R&D to revenue generation.
  • With a domestic market of ¥80 billion and plans for international expansion, TOYOKOH is expected to see significant profit increases by FY3/26.
  • The report notes the rising stock price since TOYOKOH’s IPO, driven by profit growth, but includes disclaimers about the information’s accuracy and investment solicitation.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

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

Sign Up for Free

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
Sign Up for Free


Nov 29
0

Most Read: Teco Electric & Machinery, Toyoda Gosei, LG Corp, Daehan Shipbuilding, Bengo4.Com Inc, Samsung Electronics Pref Shares, Suzhou Novosense Microelectron, Tata Capital Limited and more

By | Daily Briefs, Most Read

In today’s briefing:

  • Yuanta/P-Shares Taiwan Div+ ETF Rebalance Preview: 3 Changes; US$4bn Trade
  • [Japan Offering] Toyota Selling Down Toyoda Gosei (7282) In BIG Offering; 85d ADV, 125% of Max RWF
  • Korea’s 25% Dividend Tax Basically Locked In, Market Now Trading the 30% Payout Angle
  • KOSPI Size Indices: Lots of Change as Averaging Starts
  • UK Backloads A Tax Trap
  • [Quiddity Index] Bengo4.com (6027 JP) To TSE Prime and TOPIX Inclusion
  • Korea Dividend Tax Cut: Eligibility Criteria & Market Impact on Large Caps, Including Samsung Prefs
  • Suzhou Novosense A/H Listing – Growth Has Been Strong but Margins Weak
  • HEW: Slow Shovels
  • Tata Capital (TATACAP IN): Partial Global Index Inclusion Post-IPO

Yuanta/P-Shares Taiwan Div+ ETF Rebalance Preview: 3 Changes; US$4bn Trade

By Brian Freitas

  • With the review period now complete, there could be 3 constituent changes for the Yuanta/​P-Shares Taiwan Dividend Plus ETF in December.
  • Constituent changes along with capping changes will lead to a one-way turnover of 12.7% and in a round-trip trade of TWD 125bn (US$4bn).
  • There are multiple stocks that have same-way or opposite flow from trackers of other Taiwan indices and present some interesting trading opportunities.

[Japan Offering] Toyota Selling Down Toyoda Gosei (7282) In BIG Offering; 85d ADV, 125% of Max RWF

By Travis Lundy

  • Last week, before the long weekend, Toyota Motor (7203 JP) and Sumitomo Mitsui Financial Group (8316 JP) announced a very big secondary selldown of shares in Toyoda Gosei (7282 JP). 
  • The selldown is 85x 3mo ADV, 27% of shares out. 125% of Max Real World Float. It’s a lot of stock at $750mm. One wonders where demand is.
  • They also announced a big buyback, which is some of it, and there are index impacts, BUT this offering needs to find LOTS of new fundamental owners quickly.

Korea’s 25% Dividend Tax Basically Locked In, Market Now Trading the 30% Payout Angle

By Sanghyun Park

  • Starting next week, the tax subcommittee is set to hash out the 25% proposal, and with the opposition unlikely to block it, the 25% top rate is basically locked in.
  • The street’s treating 30% payout as base case, betting on more upside. The committee may pick it up next week, with headlines likely hitting the KRX tape fast.
  • Locals are already chasing 30%+ payout, deep-value names, with gov’t aiming for a Taiwan-style re-rating. If dividend-tax headlines drop next week, these screened names could rip.

KOSPI Size Indices: Lots of Change as Averaging Starts

By Brian Freitas

  • The review period for the March rebalance of the KOSPI Size Indices will commence on 1 December and will end on 28 February.
  • Nearing the start of the averaging period, we forecast 34 migrating stocks. Among new listings, 1 stock could be added to LargeCap, 2 to MidCap and 2 to SmallCap.
  • The upward migrations have outperformed the downward migrations by a lot over the last 3 months. The gap in returns versus the KOSPI2 INDEX is a lot smaller.

UK Backloads A Tax Trap

By Phil Rush

  • The UK’s fiscal hole was even smaller than we thought (£6bn), allowing the government to backload a fiscal tightening that is unsurprisingly focused on tax increases.
  • Delaying prudence to an election year is implausible. There will be a substantial deficit in 2029-30, not the current budget surplus in the OBR forecasts based on existing policy.
  • Labour is setting up a tax trap for Reform and the Conservatives to say how they’d avoid tax increases, similar to the backloaded spending cuts they myopically ignored in 2024.

[Quiddity Index] Bengo4.com (6027 JP) To TSE Prime and TOPIX Inclusion

By Travis Lundy

  • Back in mid-August, Bengo4.Com Inc (6027 JP) (“Bengoshi.com”) announced that it had applied to transfer to TSE Prime. 3+mos later, today it announced it will move on 4 Dec 2025.
  • That sets up a TOPIX inclusion for end-January 2026 and then a likely upweight at end-April 2026.
  • There is no accompanying offering, and the float is likely small. But the inclusion displaces the current active base. And there’s at least one large holder selling recently.

Korea Dividend Tax Cut: Eligibility Criteria & Market Impact on Large Caps, Including Samsung Prefs

By Sanghyun Park

  • Market eyed 25% top rate, but 30% is still punchy; <100 people hit it, lower than before, giving big shareholders incentive to rotate back into dividends.
  • The new regime hits only companies with 25% payout last year and +10% YoY dividend: lower than the original draft, and the 10% bump is a solid positive.
  • Companies >5tn KRW with ≥25% payout last year must boost dividends +10% YoY to get the tax cut; Samsung could add ~1tn KRW, potentially easing its pref discount.

Suzhou Novosense A/H Listing – Growth Has Been Strong but Margins Weak

By Sumeet Singh

  • Suzhou Novosense Microelectron (688052 CH), an analog chips producer, aims to raise around US$500m in its H-share listing.
  • According to Frost & Sullivan, in terms of revenue from analog chips in 2024, SNM ranked fifth among Chinese analog chip companies in the Chinese analog chip market.
  • In this note, we look at its past performance and other deal dynamics that might impact the listing.

HEW: Slow Shovels

By Phil Rush

  • UK fiscal policy had an even smaller hole to fill than we expected, with the work to fill it in delayed until the election. There is no dovish pressure on the BoE from this.
  • European data releases were relatively resilient again, with household lending and business sentiment broadly increasing. National inflation surprises were offsetting.
  • Next week’s Euro area flash HICP is still tracking 2.1% in our forecast. Final PMI releases and the BoE’s decision maker panel survey results are our other release highlights.

Tata Capital (TATACAP IN): Partial Global Index Inclusion Post-IPO

By Dimitris Ioannidis

  • Tata Capital Limited (TATACAP IN) went public on 13 October 2025 on NSE and has a current market cap of over $15bn.
  • Partial inclusion in Global indices is expected in June 2026, as the security fails the float cap threshold in one Global index.
  • Free float is projected to increase incrementally following lock-up expiries of anchor investors and pre-offer shareholders.

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

Sign Up for Free

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

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Analytics and News
  • ✓ Events & Webinars
Sign Up for Free



Nov 29
0

Daily Brief Macro: HEW: Slow Shovels and more

By | Daily Briefs, Macro

In today’s briefing:

  • HEW: Slow Shovels
  • The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (November 27)
  • Malaysia’s Rubber Output Falters in Sept Despite Quarterly Gains
  • Top Bracket Dividend Tax Rate Lowered to 30% in Korea [Moderately Positive]
  • Indian Economy – November 8, 2025
  • CX Daily: China Drafts Debut Legislation for Public Interest Litigation
  • Comment on Exchange Rate EUR/USD October 24, 2025
  • Commodity Analysis US Steel Coil Futures – October 24, 2025

HEW: Slow Shovels

By Phil Rush

  • UK fiscal policy had an even smaller hole to fill than we expected, with the work to fill it in delayed until the election. There is no dovish pressure on the BoE from this.
  • European data releases were relatively resilient again, with household lending and business sentiment broadly increasing. National inflation surprises were offsetting.
  • Next week’s Euro area flash HICP is still tracking 2.1% in our forecast. Final PMI releases and the BoE’s decision maker panel survey results are our other release highlights.

The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (November 27)

By David Mudd

  • Hong Kong market continues to consolidate during the early stage of its Secular Bull Market.  Strength and momentum indicators show further weakness ahead.
  • Materials and healthcare sectors have lost momentum with other sectors trendless.  Analysts target 20% price gains in materials sector over the next year.
  • China Taiping Insurance Hldgs (966 HK)  shares fell on Thursday on concerns over the insurer’s estimated HK$2.6B exposure to a HK residential project at the center of a deadly fire.

Malaysia’s Rubber Output Falters in Sept Despite Quarterly Gains

By Vinod Nedumudy

Highlights

• Malaysia’s NR output drops 14.8% MoM in September 2025

• Quarterly production rises 36.9% despite yearly contraction

• Market sentiment mixed amid EUDR delay reports and rate-cut hopes

Natural rubber production in September fell by 14.8% to 26,647 tons from 31,285 tons in August, marking a 16.3% year-on-year drop from September 2024’s 31,847 tons. The contraction came as a setback following a modest recovery in earlier months

Top Bracket Dividend Tax Rate Lowered to 30% in Korea [Moderately Positive]

By Douglas Kim

  • On 28 November, the Korean National Assembly reached an agreement on a tax reform plan to officially lower taxes on dividends income. 
  • The decline in tax on dividends is a definite step in the right direction. Nonetheless, the top bracket dividend tax rate cut was slightly less than what market was expecting. 
  • Given that about 15%-25% dividend tax rates are more common in other developed countries,  Korea’s reduction of dividend taxes is likely to be welcomed highly by many global investors.

Indian Economy – November 8, 2025

By VRS (Valuation & Research Specialists)

  • India’s economic growth outlook remains strong with projected real GDP growth rates of 6.65%, 6.16% and 6.41% for the years 2025 through 2027.
  • Prices rose in the first 2 quarters of 2025, as CPI QoQ growth rates were -1.83% and 0.33% in Q1 and Q2 of 2025.
  • Labor market displays resilience, with unemployment rate well below 5%, throughout 2024.

CX Daily: China Drafts Debut Legislation for Public Interest Litigation

By Caixin Global

  • In Depth: China Drafts Debut Legislation for Public Interest Litigation
  • Three Arrested as Hong Kong High-Rise Fire Leaves at Least 55 Dead
  • Vanke Seeks to Delay Repayment on 2 Billion Yuan Note as Debt Pressures Mount

Comment on Exchange Rate EUR/USD October 24, 2025

By VRS (Valuation & Research Specialists)

  • During the period under consideration, i.e. September 25th, 2025 to October 24th, 2025, the EUR/USD pair exhibited a bearish trend.
  • In the beginning, it showed overall a downward slope, until October 14th where the pair indicated an upward trend.
  • After that, it fluctuated sideways between MA-10 and MA-20. By the end of the period the price it was slightly lower than the level of September 25th.

Commodity Analysis US Steel Coil Futures – October 24, 2025

By VRS (Valuation & Research Specialists)

  • According to Graph 1, during the period July 25th, 2025 – October 24th, 2025, a mixed trend was reflected in the prices of steel coil futures amid fluctuations.
  • During the period under consideration there was a slight decrease in the price of steel coil futures.
  • The MA-10 was recorded to perform higher than the MA-20 at the first month of the period and afterwards, besides the several fluctuations, it appeared to be aligning with and moving in tandem with the MA-20.

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

Sign Up for Free

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
Sign Up for Free


Nov 29
0

Daily Brief Industrials: Guangdong Tianyu Semiconductor, Symbotic, Reclaims Global Limited, LMS Compliance Ltd, Lyft , Okumura Engineering, Petards Group, Resideo Technologies Inc, Alpha Purchase , Unifirst Corp/Ma and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Guangdong Tianyu Pre-IPO: Expensive and Poor Track Record
  • Symbotic Just Landed Walmart As A New Client — Stock Explodes!
  • Reclaims Global Limited: Grounded for Growth
  • Primer: LMS Compliance Ltd (LMS SP) – Nov 2025
  • Lyft Expands Into Europe’s Weak Ride-Hailing Market—Will It Take Over?
  • (25 Nov 2025) Okumura Engineering(6229 JP) — Fisco Company Research
  • Hybridan Research in Brief: 21 November: Petards Group plc (PEG.L): Ministry of Defence Contract Extension
  • Resideo Delivers Strong Growth Despite Market Turbulence—Here’s What’s Driving It!
  • (28 Nov 2025) Alpha Purchase (7115 JP) — Fisco Company Research
  • UniFirst Under Fire: Activist Demands Sale After Rejecting $275 Cintas Bid!

Guangdong Tianyu Pre-IPO: Expensive and Poor Track Record

By Nicholas Tan

  • Guangdong Tianyu Semiconductor (2223725D CH) is looking to raise up to US$224m in its upcoming Hong Kong IPO.
  • It was founded in 2009, and is the largest domestic PRC SiC epitaxal wafer manufacturer both in terms of revenue and sales volume, as of 2024
  • In this note, we provide updates on the firm’s past performance and valuation.

Symbotic Just Landed Walmart As A New Client — Stock Explodes!

By Baptista Research

  • Symbotic Corporation recently reported its third-quarter financial results for fiscal year 2025.
  • The company demonstrated a robust performance with a 26% year-over-year increase in revenue, reaching $592 million.
  • This growth was attributed largely to the expansion and continued deployment of its 46 existing systems, alongside progress in Advanced Systems and Robotics (ASR) development.

Reclaims Global Limited: Grounded for Growth

By SAC Capital

  • Reclaims Global Limited (“Reclaims”) is an integrated construction services provider specialising in excavation, construction and demolition (“C&D”) waste recycling, and logistics/equipment leasing.
  • Since 2009, the Group has built an established operating track record supported by a sizeable in- house fleet and an end-to-end model covering demolition, deep excavation, material recovery, and transport.
  • FY2025 marked a strong recovery, revenue almost doubled to S$44.4 million, with net profit almost tripling to S$5.6 million on higher excavation volumes and improved fleet utilisation.

Primer: LMS Compliance Ltd (LMS SP) – Nov 2025

By αSK

  • LMS Compliance Ltd. is a well-established testing, inspection, certification, and assurance (TICA) provider with a strong presence in Malaysia and a growing footprint in the broader Asian region. The company is strategically pivoting towards the high-growth Environmental, Social, and Governance (ESG) services sector, leveraging its core competencies to capitalize on increasing global demand for sustainability-related compliance.
  • The company has demonstrated a solid track record of revenue growth, driven by both its traditional testing and certification services and its newer ESG-related offerings. Financial performance has been robust, with consistent profitability and positive operating cash flow, supporting its ability to invest in expansion and provide shareholder returns.
  • A key element of LMS’s strategy is its focus on digitalization and the development of proprietary technologies, such as its Laboratory Information Management System (LIMS) and carbon accounting software. This technological focus aims to enhance operational efficiency, create scalable revenue streams, and provide a competitive advantage in the evolving compliance landscape.

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

Lyft Expands Into Europe’s Weak Ride-Hailing Market—Will It Take Over?

By Baptista Research

  • Lyft’s Q3 2025 performance reflects a mixed bag of positive developments and ongoing challenges as it navigates the competitive rideshare landscape.
  • On the upside, Lyft reported a record quarter with significant increases in operational metrics.
  • Active Riders grew by 18% year-over-year, gross bookings saw a 16% increase, and Adjusted EBITDA rose by 29%.

(25 Nov 2025) Okumura Engineering(6229 JP) — Fisco Company Research

By FISCO

Key points (machine generated)

  • OKM Co., Ltd. holds a 90% market share in Japan and 40% globally in the valve industry.
  • The company has revised its fiscal year 2026 performance forecast upwards due to strong sales in marine and LNG valves.
  • OKM’s medium-term plan aims for 13.2 billion yen in sales, 1.3 billion yen in operating profit, and an ROE of 8-10% by March 2028.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

Hybridan Research in Brief: 21 November: Petards Group plc (PEG.L): Ministry of Defence Contract Extension

By Hybridan

  • The developer of advanced security, communication and surveillance systems announces a contract extension.
  • The extension worth £0.65m is with the Ministry of Defence for the continued support of Royal Air Force communication infrastructure.
  • The three-year extension to November 2028 increases the earnings visibility and adds to the defence services order book. 

Resideo Delivers Strong Growth Despite Market Turbulence—Here’s What’s Driving It!

By Baptista Research

  • Resideo Technologies, Inc. reported its Q3 2025 financial results, showing a blend of accomplishments alongside some challenges.
  • The company delivered a solid performance in both its ADI Global Distribution and Products & Solutions segments, achieving low single-digit organic revenue growth, while also posting record high adjusted EBITDA and adjusted EPS, which exceeded expectations primarily due to terminating the Honeywell Indemnity agreement.
  • However, the company faced headwinds from macroeconomic factors such as inflation and tariffs.

(28 Nov 2025) Alpha Purchase (7115 JP) — Fisco Company Research

By FISCO

Key points (machine generated)

  • AlphaPurchase Corporation experienced a ransomware attack on October 19, 2025, impacting shipments and procurement.
  • Despite the attack, the company revised its outlook to a 6.3% increase in net sales to ¥59.5 billion and a 20.7% rise in operating profit to ¥1.5 billion.
  • AlphaPurchase aims for ¥100 billion in net sales and a 3.5% operating profit margin by FY12/29, while increasing its dividend to ¥37 per share.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

UniFirst Under Fire: Activist Demands Sale After Rejecting $275 Cintas Bid!

By Baptista Research

  • UniFirst is once again in the activist spotlight after Engine Capital publicly urged the company’s Board of Directors to explore a sale, escalating tensions that have been building since UniFirst rejected a premium all‑cash takeover offer from Cintas earlier this year.
  • Engine Capital, which holds a 3.2% ownership stake, criticized the Board for prioritizing the interests of company trustees over those of ordinary shareholders—pointing specifically to the decision to turn down Cintas’ January proposal to acquire both UniFirst’s common and Class B stock for $275 per share, a premium valuation at the time.
  • Engine argued that the Board’s refusal represented entrenched governance rather than strategic judgment.

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

Sign Up for Free

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
Sign Up for Free


Nov 29
0

Daily Brief Industrials: Guangdong Tianyu Semiconductor, Symbotic, Reclaims Global Limited, LMS Compliance Ltd, Lyft , Okumura Engineering, Petards Group, Resideo Technologies Inc, Alpha Purchase , Unifirst Corp/Ma and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Guangdong Tianyu Pre-IPO: Expensive and Poor Track Record
  • Symbotic Just Landed Walmart As A New Client — Stock Explodes!
  • Reclaims Global Limited: Grounded for Growth
  • Primer: LMS Compliance Ltd (LMS SP) – Nov 2025
  • Lyft Expands Into Europe’s Weak Ride-Hailing Market—Will It Take Over?
  • (25 Nov 2025) Okumura Engineering(6229 JP) — Fisco Company Research
  • Hybridan Research in Brief: 21 November: Petards Group plc (PEG.L): Ministry of Defence Contract Extension
  • Resideo Delivers Strong Growth Despite Market Turbulence—Here’s What’s Driving It!
  • (28 Nov 2025) Alpha Purchase (7115 JP) — Fisco Company Research
  • UniFirst Under Fire: Activist Demands Sale After Rejecting $275 Cintas Bid!

Guangdong Tianyu Pre-IPO: Expensive and Poor Track Record

By Nicholas Tan

  • Guangdong Tianyu Semiconductor (2223725D CH) is looking to raise up to US$224m in its upcoming Hong Kong IPO.
  • It was founded in 2009, and is the largest domestic PRC SiC epitaxal wafer manufacturer both in terms of revenue and sales volume, as of 2024
  • In this note, we provide updates on the firm’s past performance and valuation.

Symbotic Just Landed Walmart As A New Client — Stock Explodes!

By Baptista Research

  • Symbotic Corporation recently reported its third-quarter financial results for fiscal year 2025.
  • The company demonstrated a robust performance with a 26% year-over-year increase in revenue, reaching $592 million.
  • This growth was attributed largely to the expansion and continued deployment of its 46 existing systems, alongside progress in Advanced Systems and Robotics (ASR) development.

Reclaims Global Limited: Grounded for Growth

By SAC Capital

  • Reclaims Global Limited (“Reclaims”) is an integrated construction services provider specialising in excavation, construction and demolition (“C&D”) waste recycling, and logistics/equipment leasing.
  • Since 2009, the Group has built an established operating track record supported by a sizeable in- house fleet and an end-to-end model covering demolition, deep excavation, material recovery, and transport.
  • FY2025 marked a strong recovery, revenue almost doubled to S$44.4 million, with net profit almost tripling to S$5.6 million on higher excavation volumes and improved fleet utilisation.

Primer: LMS Compliance Ltd (LMS SP) – Nov 2025

By αSK

  • LMS Compliance Ltd. is a well-established testing, inspection, certification, and assurance (TICA) provider with a strong presence in Malaysia and a growing footprint in the broader Asian region. The company is strategically pivoting towards the high-growth Environmental, Social, and Governance (ESG) services sector, leveraging its core competencies to capitalize on increasing global demand for sustainability-related compliance.
  • The company has demonstrated a solid track record of revenue growth, driven by both its traditional testing and certification services and its newer ESG-related offerings. Financial performance has been robust, with consistent profitability and positive operating cash flow, supporting its ability to invest in expansion and provide shareholder returns.
  • A key element of LMS’s strategy is its focus on digitalization and the development of proprietary technologies, such as its Laboratory Information Management System (LIMS) and carbon accounting software. This technological focus aims to enhance operational efficiency, create scalable revenue streams, and provide a competitive advantage in the evolving compliance landscape.

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

Lyft Expands Into Europe’s Weak Ride-Hailing Market—Will It Take Over?

By Baptista Research

  • Lyft’s Q3 2025 performance reflects a mixed bag of positive developments and ongoing challenges as it navigates the competitive rideshare landscape.
  • On the upside, Lyft reported a record quarter with significant increases in operational metrics.
  • Active Riders grew by 18% year-over-year, gross bookings saw a 16% increase, and Adjusted EBITDA rose by 29%.

(25 Nov 2025) Okumura Engineering(6229 JP) — Fisco Company Research

By FISCO

Key points (machine generated)

  • OKM Co., Ltd. holds a 90% market share in Japan and 40% globally in the valve industry.
  • The company has revised its fiscal year 2026 performance forecast upwards due to strong sales in marine and LNG valves.
  • OKM’s medium-term plan aims for 13.2 billion yen in sales, 1.3 billion yen in operating profit, and an ROE of 8-10% by March 2028.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

Hybridan Research in Brief: 21 November: Petards Group plc (PEG.L): Ministry of Defence Contract Extension

By Hybridan

  • The developer of advanced security, communication and surveillance systems announces a contract extension.
  • The extension worth £0.65m is with the Ministry of Defence for the continued support of Royal Air Force communication infrastructure.
  • The three-year extension to November 2028 increases the earnings visibility and adds to the defence services order book. 

Resideo Delivers Strong Growth Despite Market Turbulence—Here’s What’s Driving It!

By Baptista Research

  • Resideo Technologies, Inc. reported its Q3 2025 financial results, showing a blend of accomplishments alongside some challenges.
  • The company delivered a solid performance in both its ADI Global Distribution and Products & Solutions segments, achieving low single-digit organic revenue growth, while also posting record high adjusted EBITDA and adjusted EPS, which exceeded expectations primarily due to terminating the Honeywell Indemnity agreement.
  • However, the company faced headwinds from macroeconomic factors such as inflation and tariffs.

(28 Nov 2025) Alpha Purchase (7115 JP) — Fisco Company Research

By FISCO

Key points (machine generated)

  • AlphaPurchase Corporation experienced a ransomware attack on October 19, 2025, impacting shipments and procurement.
  • Despite the attack, the company revised its outlook to a 6.3% increase in net sales to ¥59.5 billion and a 20.7% rise in operating profit to ¥1.5 billion.
  • AlphaPurchase aims for ¥100 billion in net sales and a 3.5% operating profit margin by FY12/29, while increasing its dividend to ¥37 per share.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

UniFirst Under Fire: Activist Demands Sale After Rejecting $275 Cintas Bid!

By Baptista Research

  • UniFirst is once again in the activist spotlight after Engine Capital publicly urged the company’s Board of Directors to explore a sale, escalating tensions that have been building since UniFirst rejected a premium all‑cash takeover offer from Cintas earlier this year.
  • Engine Capital, which holds a 3.2% ownership stake, criticized the Board for prioritizing the interests of company trustees over those of ordinary shareholders—pointing specifically to the decision to turn down Cintas’ January proposal to acquire both UniFirst’s common and Class B stock for $275 per share, a premium valuation at the time.
  • Engine argued that the Board’s refusal represented entrenched governance rather than strategic judgment.

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

Sign Up for Free

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
Sign Up for Free


Nov 29
0

Daily Brief Energy/Materials: Rubber Future SGX TSR20, Daicel Corp, Fenix Resources , Albemarle Corp, Kinetik Holdings , Permian Resources , Plains All American Pipeline, L.P., Plains GP Holdings LP, Revoil , Royal Gold Inc and more

By | Daily Briefs, Energy & Materials Sector

In today’s briefing:

  • Malaysia’s Rubber Output Falters in Sept Despite Quarterly Gains
  • Asian Dividend Gems: Daicel Corp
  • Primer: Fenix Resources (FEX AU) – Nov 2025
  • Albemarle: A Game-Changing Lithium Supply Strategy the World Didn’t See Coming!
  • Kinetik Holdings Power Play: How Hedging & LNG Strategies Protect It From Waha Chaos Inside!
  • Permian Resources Boosts Production Tenfold—What’s Behind This Stunning Jump?
  • Plains All American Pipeline Eyes Canadian Crude Routes—Could This Unlock Massive New Revenue?
  • Plains All American Boosts Competitive Edge With EPIC Acquisition Synergies & Capital Optimization!
  • REVOIL S.A. Note Following Meeting with Company
  • Royal Gold’s Acquisition Spree Signals a Power Move—What Comes Next?

Malaysia’s Rubber Output Falters in Sept Despite Quarterly Gains

By Vinod Nedumudy

Highlights

• Malaysia’s NR output drops 14.8% MoM in September 2025

• Quarterly production rises 36.9% despite yearly contraction

• Market sentiment mixed amid EUDR delay reports and rate-cut hopes

Natural rubber production in September fell by 14.8% to 26,647 tons from 31,285 tons in August, marking a 16.3% year-on-year drop from September 2024’s 31,847 tons. The contraction came as a setback following a modest recovery in earlier months

Asian Dividend Gems: Daicel Corp

By Douglas Kim

  • Daicel is notable for being Japan’s only manufacturer of acetic acid and for holding world-leading market positions in some cellulose-acetate products and in acetate tow for cigarette filters.
  • At current prices, the dividend yield of the company is at a healthy 4.6%. Its dividend yield averaged 4.4% from FY2021 to FY2025.
  • The company has enjoyed a solid sales growth of 10.5% CAGR from FY2021 to FY2025. Operating income nearly doubled from FY2021 to FY2025.

Primer: Fenix Resources (FEX AU) – Nov 2025

By αSK

  • Fenix Resources is a rapidly growing, fully integrated iron ore producer in Western Australia, leveraging its wholly-owned logistics and port infrastructure to unlock stranded assets and maintain high margins.
  • The company’s recent acquisition of a 30-year mining right at the Weld Range project is transformational, securing a 290 million tonne resource base that significantly extends mine life and provides a clear pathway to scale production beyond 4 million tonnes per annum.
  • While the company trades at attractive valuation multiples and is poised for significant cash flow growth, its earnings are highly sensitive to the volatile global iron ore price, which remains the principal risk to the investment thesis.

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

Albemarle: A Game-Changing Lithium Supply Strategy the World Didn’t See Coming!

By Baptista Research

  • Albemarle Corporation’s Q3 2025 performance showcases several key dynamics that are influencing the company’s strategic and operational directions.
  • The company reported a 7% year-over-year increase in adjusted EBITDA to $226 million, despite facing challenges like lower lithium pricing.
  • The net sales for the quarter were $1.3 billion, reflecting a decrease primarily due to the weakened lithium market, although partially offset by increased volumes in their Energy Storage and Ketjen segments.

Kinetik Holdings Power Play: How Hedging & LNG Strategies Protect It From Waha Chaos Inside!

By Baptista Research

  • Kinetik’s third quarter 2025 results present a mixed scenario influenced by both strategic developments and challenges due to commodity market volatility.
  • The company shows improvements on the operational front with the successful launch of the Kings Landing processing facility.
  • This expansion in New Mexico bolsters Kinetik’s capacity and positions it to support increased production in the region.

Permian Resources Boosts Production Tenfold—What’s Behind This Stunning Jump?

By Baptista Research

  • Permian Resources, a prominent player in the Delaware Basin, demonstrated strong operational performance in the third quarter of 2025.
  • The company recorded its highest quarterly free cash flow per share despite a challenging commodity environment, showcasing robust execution across its operations.
  • With production figures surpassing expectations—oil production rose 6% to 187,000 barrels per day and total production hit 410,000 barrels of oil equivalent per day—the company credits its success to effective deployment of its Texas development project.

Plains All American Pipeline Eyes Canadian Crude Routes—Could This Unlock Massive New Revenue?

By Baptista Research

  • Plains All American Pipeline (PAA) reported strong third-quarter 2025 results, delivering an adjusted EBITDA of $669 million.
  • The company is continuing its strategic focus on becoming a leading North American pure-play crude midstream entity.
  • A significant move in this direction is the pending sale of its Natural Gas Liquids (NGL) business, expected to conclude by the first quarter of 2026.

Plains All American Boosts Competitive Edge With EPIC Acquisition Synergies & Capital Optimization!

By Baptista Research

  • Plains All American Pipeline’s recent earnings call sheds light on its strategic maneuvers and financial health as it aims to solidify its position as a premier crude midstream company.
  • The company reported a solid third-quarter adjusted EBITDA of $669 million, reinforcing the execution of its strategy focused on leveraging its asset base and maintaining disciplined capital management.
  • The anticipated sale of Plains All American Pipeline’s Natural Gas Liquids (NGL) assets, scheduled to close early next year, marks a strategic shift to a more crude-focused portfolio.

REVOIL S.A. Note Following Meeting with Company

By VRS (Valuation & Research Specialists)

  • Revoil S.A. engages in the trading and marketing of petroleum products for use in cars, homes, and vessels in Greece.
  • It offers gasoline, fuel oil, petrol, diesel and a range of lubricants for petrol engines, diesel engines, hydraulic systems, gear wheels, and outboard engines.
  • The company also provides lamps, wind- screen wipers, car deodorants, and mobile accessories as well as car and moto wash, lubricant change, and other services. 

Royal Gold’s Acquisition Spree Signals a Power Move—What Comes Next?

By Baptista Research

  • Royal Gold’s third-quarter performance reflects a strategic expansion and strong financial results, highlighting both operational successes and potential challenges.
  • The company reported record quarterly revenue of $252 million, driven by higher metal prices and increased production from key assets like Mount Milligan and Cortez.
  • Gold continues to be the primary revenue driver, contributing 78% of total revenue.

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

Sign Up for Free

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
Sign Up for Free


Nov 29
0

Daily Brief TMT/Internet: Samsung Electronics Pref Shares, NVIDIA Corp, ROHM Co Ltd, Canon Electronics, Kingsoft Corp, Unity Software , DiDi Global, Bentley Systems , Nippo Ltd, Qualcomm Inc and more

By | Daily Briefs, TMT/Internet

In today’s briefing:

  • Korea Dividend Tax Cut: Eligibility Criteria & Market Impact on Large Caps, Including Samsung Prefs
  • NVIDIA. Burry’s Claims Miss The Forest For The Trees. The Real Issues Are Structural, Not Legal
  • Shortlist Of High Conviction Ideas Across China, Japan, India – November 2025
  • Canon Electronics (7739 JP): Canon (7751 JP)’s Tender Offer at JPY3,650
  • Tencent/Netease: Zero Approval in November Despite Game Approvals at New High
  • Unity Software: Its Fast-Growing Ad Empire Is Grabbing Eyeballs But THESE Are The 4 Major Challenges Ahead!
  • Didi Global Q325 Results | China Solid, But International Goes From Bad to Worse | How to Fix?
  • Bentley Systems Is Riding a New Wave of AI-Driven Engineering Power—How Long Will It Last?
  • NIPPO LTD. (9913 JP): RESEARCH UPDATE
  • Qualcomm’s IoT Empire Is Booming — Can Arduino Supercharge Its $14B Vision?

Korea Dividend Tax Cut: Eligibility Criteria & Market Impact on Large Caps, Including Samsung Prefs

By Sanghyun Park

  • Market eyed 25% top rate, but 30% is still punchy; <100 people hit it, lower than before, giving big shareholders incentive to rotate back into dividends.
  • The new regime hits only companies with 25% payout last year and +10% YoY dividend: lower than the original draft, and the 10% bump is a solid positive.
  • Companies >5tn KRW with ≥25% payout last year must boost dividends +10% YoY to get the tax cut; Samsung could add ~1tn KRW, potentially easing its pref discount.

NVIDIA. Burry’s Claims Miss The Forest For The Trees. The Real Issues Are Structural, Not Legal

By William Keating

  • After taking short positions against Palantir & NVIDIA, Michael Burry has closed his hedge fund and taken to substack to continue his assault on the AI bubble
  • While he makes some valid points, these are mainly things everybody already knows and in the end he’s missing the forest for the trees
  • There are key structural issues surrounding the AI Infrastructure build out (grid, foundry, memory capacity to mention a few). These will drive course corrections, all by themselves.

Shortlist Of High Conviction Ideas Across China, Japan, India – November 2025

By Sreemant Dudhoria,CFA

Canon Electronics (7739 JP): Canon (7751 JP)’s Tender Offer at JPY3,650

By Arun George

  • Canon Electronics (7739 JP) has recommended a tender offer from Canon Inc (7751 JP) at JPY3,650, a 32.4% premium to the last close price.
  • The offer is attractive as it is above book value (P/B of 1.21x), above the midpoint of the IFA DCF valuation range and represents an all-time high. 
  • An attractive offer facilitates meeting the required tendering rate. The offer closes on 19 January 2026 and is a done deal. 

Tencent/Netease: Zero Approval in November Despite Game Approvals at New High

By Ke Yan, CFA, FRM

  • China announced game approval for the November batch. The number of games approved remained at a higher level than 2023.
  • The pace of China game approval appears to have accelerated to above the pre-tightening level.
  • Of the companies that we are monitoring, while market leader Tencent and Netease didn’t obtained approval, Kingsoft and Bilibili obtained approval for one game each.

Unity Software: Its Fast-Growing Ad Empire Is Grabbing Eyeballs But THESE Are The 4 Major Challenges Ahead!

By Baptista Research

  • Unity Technologies reported strong results for the third quarter of 2025, surpassing both its own guidance and market expectations.
  • The company demonstrated robust growth in its key segments, particularly in Grow, driven by the high performance of its Vector AI, and its Create segment also saw significant year-over-year growth.
  • Positively, Unity’s Grow segment, which includes its Vector AI, experienced an 11% quarter-over-quarter increase.

Didi Global Q325 Results | China Solid, But International Goes From Bad to Worse | How to Fix?

By Daniel Hellberg

  • Didi’s China business showed solid Y/Y growth, but International worsened dramatically
  • Spending on Sales & Marketing (including incentives) was up CNY 1.7 bn Y/Y, or +55%
  • Should it seek an IPO soon, Didi will have to show a path to profits for International segment

Bentley Systems Is Riding a New Wave of AI-Driven Engineering Power—How Long Will It Last?

By Baptista Research

  • Bentley Systems’ third-quarter results for 2025 reflect a company aligning its strategic initiatives with the growing demand for digital infrastructure solutions, yet facing certain challenges in its operating environment.
  • The company demonstrated steady progress across multiple fronts, showing resilience and adaptability amid evolving market conditions.
  • On the positive side, Bentley Systems reported solid performance metrics with a 10.5% year-over-year ARR growth, or 11% excluding China, indicating robust demand for its digital solutions.

NIPPO LTD. (9913 JP): RESEARCH UPDATE

By Nippon Investment Bespoke Research UK

  • Nippo produced record earnings in FY25 1H, with OP of ¥946mil (+12.8% YoY) on sales of ¥22,186mil (+0.3% YoY).
  • While 1H sales remained flat YoY due to a decline in sales of the Electronics segment (-3.3% YoY), OP hit a semi-annual record, thanks to (1) solid growth of in-house products such as semiconductor wafer grinding carriers and (2) cost reductions in overseas factories.
  • FY25 is the final year of Nippo’s medium-term plan [MTP].

Qualcomm’s IoT Empire Is Booming — Can Arduino Supercharge Its $14B Vision?

By Baptista Research

  • Qualcomm Incorporated’s results for the fourth quarter of fiscal 2025 illustrate both the strategic advancements and challenges within its diverse business portfolio.
  • The company reported revenues of $11.3 billion and a non-GAAP earnings per share (EPS) of $3, surpassing their guidance expectations.
  • A sequential increase in QCT revenues, amounting to $9.8 billion, was primarily driven by strong customer demand for Snapdragon-powered Android handsets, substantial growth in automotive solutions, and robust performance in IoT sectors like industrial applications, Wi-Fi 7, and 5G.

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

Sign Up for Free

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
Sign Up for Free


Nov 29
0

Daily Brief Financials: Shanghai Shenzhen CSI 300 Index, Superbank, Ping An Bank Co Ltd A, TOPIX Banks Index, EURO/US DOLLAR, Speedy Hire Plc, Sunway Bhd, Papanets, Frasers Property Ltd, Urbanet Corp and more

By | Daily Briefs, Financials

In today’s briefing:

  • CSI 300 (SHSZ300) Tactical Outlook After Nov. 28 Rebalance Announcement
  • Superbank Pre-IPO: Strong Partnerships With Inflection Into Profitability
  • GEM Banks – 2026 High Conviction Ideas
  • Japanese Banks: TPNBNK Structural Sector Buy-Case, Preparing for Shinsei (8303) January Passive Flow
  • Comment on Exchange Rate EUR/USD October 24, 2025
  • Speedy Hire – Opportunity knocks
  • Primer: Sunway Bhd (SWB MK) – Nov 2025
  • (25 Nov 2025) Papanets(9388 JP) — Fisco Company Research
  • Primer: Frasers Property Ltd (FPL SP) – Nov 2025
  • (28 Nov 2025) Urbanet Corp(3242 JP) — Fisco Company Research

CSI 300 (SHSZ300) Tactical Outlook After Nov. 28 Rebalance Announcement

By Nico Rosti

  • On November 28th China Securities Index Co (CSI) announced the changes to the CSI 300 Index (SHSZ300 INDEX): 11 companies added and 11 deleted.
  • The complete list of additions and deletions is available here (or see the attachment at the end of this insight for your convenience).
  • We analyze our probabilistic models to forecast short-term market directions for the CSI 300 Index, as passive flows between here and December 12 may affect the index volatility and trend.

Superbank Pre-IPO: Strong Partnerships With Inflection Into Profitability

By Hong Jie Seow

  • Superbank (SUPA IJ) aims to raise around US$184m in its Indonesia IPO.
  • Superbank is a digital bank in Indonesia operating through a combination of ecosystem-led distribution and its own standalone mobile application. 
  • In this note, we look at its past performance and other deal dynamics that might impact the listing.

GEM Banks – 2026 High Conviction Ideas

By Victor Galliano

  • Our GEM bank top picks for 1H 2026 are Banrisul, Bradesco and Ping An Bank for very attractive fundamental valuations with healthy dividends and earnings growth potential
  • We also have buy recommendations on China Construction Bank (CCB) and Hana Financial, both of which are deep value plays relative to their returns, combined with sound balance sheets
  • Kotak Mahindra bank is our only sell recommendation for its premium valuation, even among Indian banks, relative to its underwhelming ROE prospects

Japanese Banks: TPNBNK Structural Sector Buy-Case, Preparing for Shinsei (8303) January Passive Flow

By Jay Cameron

  • Japanese banks are entering a new, structurally sound phase driven by the BoJ’s policy pivot, which is fundamentally elevating Net Interest Income and profitability.
  • Capital efficiency and mandatory corporate governance reforms are set to significantly close the P/B gap against global peers.
  • TOPIX Bank Index could be poised for continued outperformance over the broader market, making it an essential, high-conviction portfolio exposure as 8303 Shinsei returns to the index.

Comment on Exchange Rate EUR/USD October 24, 2025

By VRS (Valuation & Research Specialists)

  • During the period under consideration, i.e. September 25th, 2025 to October 24th, 2025, the EUR/USD pair exhibited a bearish trend.
  • In the beginning, it showed overall a downward slope, until October 14th where the pair indicated an upward trend.
  • After that, it fluctuated sideways between MA-10 and MA-20. By the end of the period the price it was slightly lower than the level of September 25th.

Speedy Hire – Opportunity knocks

By Equity Development

  • The new ProService Agreement is the dominant feature of year-to-date performance, driving an uplift in revenue and profitability despite subdued market conditions.
  • Velocity implementation continues, moving from enabling to growth phases.
  • While higher interest costs reduce FY26 estimates, the ProService deal materially enhances expected earnings thereafter, and we have raised our fair value to 61p per share to reflect this.

Primer: Sunway Bhd (SWB MK) – Nov 2025

By αSK

  • Sunway is a leading Malaysian conglomerate with a diversified business model spanning property development, construction, healthcare, and real estate investment, providing multiple revenue streams and resilience.
  • Recent performance highlights strong property sales, achieving 86% of the FY25 target, and an improving balance sheet with net gearing reduced to 0.35x. However, 9M25 core net profit fell below expectations due to slower progress billings in the construction segment.
  • Forward-looking catalysts include major property launches scheduled for 4Q25 and strategic expansion in the healthcare division to capture growing demand and medical tourism. The construction segment’s growth is supported by a robust order book, particularly in high-tech facilities like data centers.

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

(25 Nov 2025) Papanets(9388 JP) — Fisco Company Research

By FISCO

Key points (machine generated)

  • Papanets (9388) is a service company listed on the Fukuoka Stock Exchange Q-Board in March 2025.
  • The company supports real estate management firms and related businesses with services like patrol, cleaning, and reporting through its system ‘Jun-kun.’
  • Papanets also offers comprehensive interior support, including furniture manufacturing, sales, delivery, and installation.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

Primer: Frasers Property Ltd (FPL SP) – Nov 2025

By αSK

  • Frasers Property is a geographically diversified real estate company with a significant presence across Singapore, Australia, Europe, and Southeast Asia, operating across residential, retail, commercial, industrial, and hospitality sectors.
  • The company is currently trading at a significant discount to its book value, with a Price-to-Book ratio of 0.43, suggesting a potential valuation gap. This is supported by a high Smartkarma Value score of 5/5.
  • Recent financial performance indicates headwinds, with both revenue and net income declining in the latest reported year. The company’s growth track record also shows negative trends over 3, 7, and 10-year periods for key metrics like revenue and EPS, signaling underlying challenges.

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

(28 Nov 2025) Urbanet Corp(3242 JP) — Fisco Company Research

By FISCO

Key points (machine generated)

  • The briefing took place on January 28, 2025, featuring Nobuharu Hattori and investor DAIBOUCHOU.
  • The session is part of Urbanet Corporation’s presentation, listed on the Tokyo Stock Exchange in the real estate sector.
  • The introduction stresses the importance of reading disclaimers for careful consideration of the information.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

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

Sign Up for Free

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
Sign Up for Free


Nov 29
0

Daily Brief Health Care: Bio Techne Corp, InxMed, Novo Nordisk, Penumbra , Soleno Therapeutics , Novartis , Elanco Animal Health and more

By | Daily Briefs, Healthcare

In today’s briefing:

  • Bio-Techne Braces for a Biotech Funding Revival—Is a Major Upswing Ahead?
  • Primer: InxMed (IXM HK) – Nov 2025
  • Novo Nordisk’s Wegovy Pill Strategy Is a Game-Changer—Inside the Big Bet!
  • Penumbra Ignites a Pulmonary Embolism Breakthrough—Hospitals Are Racing to Adopt It!
  • Primer: Soleno Therapeutics (SLNO US) – Nov 2025
  • Novartis’s $2.59 Million Itvisma Gets FDA Nod—Can It Conquer the SMA Market?
  • Elanco Animal Health: Adoption & Commercial Scaling of New Companion Animal Therapies & Key Growth Levers!

Bio-Techne Braces for a Biotech Funding Revival—Is a Major Upswing Ahead?

By Baptista Research

  • Bio-Techne delivered its first-quarter fiscal year 2026 results amidst a challenging market environment.
  • Despite the company’s strategic and disciplined efforts, organic revenue declined by 1%, primarily due to timing issues in their Cell Therapy business from large customers and the ongoing softness in biotech funding.
  • These timing issues were particularly impacted by FDA Fast Track Designations received by key customers that, while accelerating therapy approval timelines, reduced the near-term demand for reagents.

Primer: InxMed (IXM HK) – Nov 2025

By αSK

  • InxMed is a clinical-stage biotechnology company with a strategic focus on overcoming cancer drug resistance and metastasis, primarily targeting the Chinese market.
  • The company’s lead asset, Ifebemtinib (a FAK inhibitor), is being developed as a cornerstone of combination therapies across a range of solid tumors, a strategy that could unlock significant value where monotherapies have previously failed.
  • While the pipeline holds promise, InxMed faces substantial risks typical of a clinical-stage biotech, including the inherent uncertainty of clinical trial outcomes, a competitive landscape for its targeted pathways (FAK and FAP), and the financial risks associated with drug development.

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

Novo Nordisk’s Wegovy Pill Strategy Is a Game-Changer—Inside the Big Bet!

By Baptista Research

  • Novo Nordisk’s earnings report for the first nine months of 2025 reflects a complex financial and strategic landscape.
  • The company reported a 15% rise in sales and a 10% increase in operating profit.
  • The growth in sales was largely driven by the U.S. and international operations both showing robust performance, although the company has tempered future expectations by adjusting guidance to 8-11% sales growth and 4-7% for operating profit due to anticipated slower growth in its key GLP-1 treatments for diabetes and obesity.

Penumbra Ignites a Pulmonary Embolism Breakthrough—Hospitals Are Racing to Adopt It!

By Baptista Research

  • Penumbra, Inc. reported its financial results for the third quarter of 2025, delivering solid performance across its business segments.
  • The company achieved a total revenue of $354.7 million, marking a year-over-year increase of 17.8% on a reported basis and 16.9% in constant currency.
  • This growth illustrates progress in executing Penumbra’s strategy and enhancing its technological and market position.

Primer: Soleno Therapeutics (SLNO US) – Nov 2025

By αSK

  • Soleno Therapeutics has achieved a major milestone with the recent FDA approval of its lead drug, VYKAT™ XR (diazoxide choline extended-release tablets), for the treatment of hyperphagia (excessive hunger) in patients with Prader-Willi Syndrome (PWS). This marks the first approved therapy specifically for this debilitating symptom of the rare genetic disorder, representing a significant commercial opportunity.
  • The company is now transitioning to a commercial-stage entity, with the U.S. launch of VYKAT™ XR expected to commence in April 2025. This pivotal shift from a clinical-stage to a revenue-generating company is a key inflection point for Soleno.
  • While the FDA approval is a major de-risking event, the company’s future success will depend on a successful commercial launch, market adoption by physicians and patients, and navigating the competitive landscape of potential future treatments for PWS.

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

Novartis’s $2.59 Million Itvisma Gets FDA Nod—Can It Conquer the SMA Market?

By Baptista Research

  • The FDA’s recent green light for Novartis’s gene therapy Itvisma marks a major commercial and clinical milestone for the Swiss drugmaker.
  • Itvisma is an updated version of Zolgensma, previously limited to infants under age 2 with spinal muscular atrophy (SMA), and will now treat older patients aged 2 and up.
  • This approval significantly expands the addressable market for one of the rare commercial successes in the struggling gene therapy sector.

Elanco Animal Health: Adoption & Commercial Scaling of New Companion Animal Therapies & Key Growth Levers!

By Baptista Research

  • Elanco Animal Health’s third quarter of 2025 showcased a robust performance and a revised, optimistic outlook for the year, reflecting growth in several key areas while also indicating certain challenges.
  • The company reported a 9% organic constant currency growth in the quarter, surpassing the high end of their guidance for revenue, adjusted EBITDA, and adjusted EPS.
  • This marks the ninth consecutive quarter of total underlying growth, driven primarily by a 20% increase in U.S. Farm sales and 9% growth in U.S. Pet Health.

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

Sign Up for Free

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
Sign Up for Free


Nov 29
0

Daily Brief Consumer: Unilever PLC, China Yuhua Education, Dollar General, LG Electronics India, G 7 Holdings, Garden, Health And Happiness (H&H), Johnson Controls, Acushnet Holdings, Lucid Group and more

By | Consumer, Daily Briefs

In today’s briefing:

  • Unilever Spins Off Magnum Ice Cream: Index Changes Ahead
  • Primer: China Yuhua Education (6169 HK) – Nov 2025
  • DG US – DoorDash’s Massive Retail Bet—Can Pet Supplies and Electronics Deliver a Profit Surge?
  • LG Electronics (LGEINDIA IN): Global Index Inclusion Post-IPO
  • (28 Nov 2025) G 7 Holdings(7508 JP) — Fisco Company Research
  • (26 Nov 2025) Garden(274A JP) — Fisco Company Research
  • Lucror Analytics – Morning Views Asia
  • Johnson Controls Just Triggered a Strategic Shake-Up—Here’s the Inside Story!
  • Acushnet Is Expanding Worldwide—How Will Its Global Power Push Reshape the Golf Market?
  • Lucid Group: New Aggressive Power Moves With NVIDIA, Uber, & Nuro & Other Major Growth Drivers!

Unilever Spins Off Magnum Ice Cream: Index Changes Ahead

By Harry Kalfas

  • Unilever PLC (ULVR LN) is spinning off its Ice Cream business into a standalone publicly-listed company, The Magnum Ice Cream Company (“TMICC”).
  • TMICC is expected to list in early December 2025, trading under the ticker “MICC” on Euronext Amsterdam, LSE and NYSE.
  • Significant index implications across EU and Global indices, on an intra-quarter basis.

Primer: China Yuhua Education (6169 HK) – Nov 2025

By αSK

  • China Yuhua Education is a prominent private education provider in China, focusing on higher education and secondary education. The company has faced significant headwinds due to regulatory changes in the Chinese education sector but has shown resilience by adapting its business model.
  • The company’s financial performance has been impacted by the deconsolidation of its K-9 assets in 2021, a direct consequence of the new regulations. However, recent results indicate a recovery, with revenue and adjusted net profit showing growth.
  • The future outlook for China Yuhua Education is cautiously optimistic. While regulatory risks remain a significant concern, the company’s focus on higher and vocational education, which are more supported by government policies, could provide a pathway for sustainable growth.

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

DG US – DoorDash’s Massive Retail Bet—Can Pet Supplies and Electronics Deliver a Profit Surge?

By Baptista Research

  • DoorDash recently held an earnings call discussing its third-quarter 2025 financial results and strategic initiatives.
  • CEO Tony Xu and CFO Ravi Inukonda outlined the company’s current performance and future plans.
  • One of the central topics was DoorDash’s investment plans for 2026, which include several hundred million dollars allocated to technology and product development.

LG Electronics (LGEINDIA IN): Global Index Inclusion Post-IPO

By Dimitris Ioannidis

  • LG Electronics (LGEINDIA IN) went public on 14 October 2025 on NSE and has a current market cap of over $12bn.
  • Inclusion in Global All-World is expected in June 2026 as it passes eligibility and thresholds.
  • Earliest possible inclusion in Global Standard is February 2026; however, it is currently estimated to fail the float cap threshold.

(28 Nov 2025) G 7 Holdings(7508 JP) — Fisco Company Research

By FISCO

Key points (machine generated)

  • G-7 Holdings is expanding its meat business through mergers and acquisitions to achieve record profits by March 2026.
  • The company reported consolidated sales of 110.7 billion yen, a 9.6% increase year-over-year, and an ordinary profit of 3.3 billion yen, up 7.5%.
  • Strong performance is driven by sales in automotive-related and Gyomu Super businesses, along with contributions from new subsidiaries.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

(26 Nov 2025) Garden(274A JP) — Fisco Company Research

By FISCO

Key points (machine generated)

  • FISCO Ltd. projects a double-digit profit increase for Garden Co. in the second half of fiscal year ending February 2026.
  • Garden Co. operates 197 restaurant locations, primarily in Tokyo’s terminal stations, offering diverse formats like ramen and izakayas.
  • Popular flagship offerings include ‘Ikkyakuya’ ramen and ‘Yamashita Honki Udon,’ appealing especially to young male customers.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • In today’s Morning Views publication we comment on developments of the following high yield issuers: Health and Happiness (H&H)
  • China’s industrial profits fell 5.5% y-o-y in October, reversing from the sharp double-digit growth in September and August. Industrial profits grew 1.9% in 10M/25, decelerating from 3.2% in 9M.
  • Profits from the high-tech sector remained robust at 8.0% in 10M, with profits from smart unmanned aircraft and smart in-vehicle equipment registering triple-digit growth.

Johnson Controls Just Triggered a Strategic Shake-Up—Here’s the Inside Story!

By Baptista Research

  • Johnson Controls’ fourth quarter of fiscal year 2025 results highlight a year marked by growth and strategic advancements, coupled with continued efforts towards operational efficiency.
  • Sales growth of 6% and a 17% increase in adjusted earnings per share (EPS) indicate strong performance, though challenges and opportunities are balanced.
  • A significant highlight is the attainment of a 102% free cash flow conversion, bolstered by rigorous working capital management and operational efficiencies.

Acushnet Is Expanding Worldwide—How Will Its Global Power Push Reshape the Golf Market?

By Baptista Research

  • Acushnet Holdings Corp. reported a solid performance for the third quarter of 2025, with net sales totaling $658 million, representing a 5% increase on a constant currency basis compared to the previous year.
  • This growth was observed across all segments.
  • The company’s adjusted EBITDA reached $119 million, which marks a 10% increase from the prior year, with year-to-date net sales amounting to $2.08 billion, reflecting a 4% growth.

Lucid Group: New Aggressive Power Moves With NVIDIA, Uber, & Nuro & Other Major Growth Drivers!

By Baptista Research

  • Lucid Group’s third quarter 2025 financial results illustrate a period of both significant achievements and challenges, showcasing a complex picture for current and prospective investors.
  • The company reported a seventh consecutive quarter of record vehicle deliveries, a testament to steady demand and operational resilience.
  • Revenue increased to $337 million, representing a 68% year-over-year growth, propelled by higher deliveries and a more favorable product mix that saw an increase in average selling prices.

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

Sign Up for Free

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
Sign Up for Free