Daily Brief Consumer: IFBH, Great Wall Motor, Toyota Motor, LVMH Moet Hennessy Louis Vuitt, Airbnb , Giant Biogene, Haier Smart Home , Volkswagen , TSE Tokyo Price Index TOPIX and more

• IFBH Ltd launched its Hongkong IPO aiming to raise up to HK$1,160 million. The company plans to sell 41.7 million shares at HK$25.3–27.8 per share.
• IFBH is a ready-to-consume beverage and food company based in Thailand. It enjoys market leader position in the ready to drink coconut water segment in Mainland China.
• The growth momentum is expected to continue in the near term. IFBH’s leadership position would help garner volume strength.  We would recommend the investors to subscribe to the issue.

• AH premia bounce back last week but the “skew” of wide premia converging and narrow premia moving wider continues. It has paid to be long wide H discounts.
• The previous week smelled like an RMB counter trade was being set up, “confirmed” by a Caixin article the weekend. The HKEX “confirmation” this past week, well, maybe wasn’t one.
• The data tables below update on a daily basis in the Tools section of Smartkarma. The SOUTHBOUND Flow Monitor and AH Monitor are both there free for SK readers. Technical issue delayed this week’s Monitor.

• We continue our coverage of Toyota Motor. In our last insight we flagged overbought conditions and a likely pullback—Toyota declined as expected. Our model now flashes an “upcoming rebound” signal.
• Toyota Motor (7203 JP) has been falling for 3 weeks. At the end of last week our WEEKLY model flagged the stock as “very oversold“: 83% probability of WEEKLY reversal.
• We cannot say if this rebound will become a rally, at the moment: uncertainty around the stock persists, and this particular pattern usually sees more selling, after the bounce.

• IFBH (IFBH HK)  is looking to raise about US$148m in its HK IPO.
• IFBH specializes in ready-to-consume beverages and food, with a focus on coconut water and plant-based products.
• In our previous note, we looked at the firm’s past performance. In this note, we talk about the IPO valuations.

• Antoinette sang with a heavy metal band at the Paris Olympics, sponsored by LVMH
• Moet Hennessy, a struggling arm of LVMH, faced pressure to turn around its business
• Moet Hennessy’s importance to LVMH lies in its role as a cash cow for acquisitions, despite internal strategic mistakes and market challenges

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

• Brian Chesky and Joe Gebbia, founders of Airbnb, met at the Rhode Island School of Design in 1999
• Chesky’s background in industrial design engineering heavily influenced Airbnb’s design-centric approach
• Chesky’s scrappiness and founder mentality have driven Airbnb’s success, with a focus on improving margins and generating free cash flow.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

• Giant Biogene (2367 HK) ‘s  stock is down 40% from its mid-May high triggered by public spat with rival Bloomage Biotechnology over collagen content labelling in its skincare line.
• Biogene’s use of recombinant collagen is rapidly emerging as the new gold standard in anti-aging skincare, giving it a clear edge over traditional ingredient players like Bloomage.
• Giant Biogene now trades at a steep discount to peers in the functional beauty space; current valuations offer meaningful downside protection, and strong upside potential as sentiment stabilizes.

• Haier Smart Home Co., Ltd. recently released its third-quarter financial results, providing insights into its performance and strategic developments.
• During the initial three quarters, the company reported sales revenue of RMB 148.9 billion, representing a 7.7% growth.
• The net profit was RMB 717 million, which marks a 26.2% increase year over year.

• Volkswagen AG’s first quarter of 2025 exhibited a blend of advancements and challenges.
• On the positive side, the company made significant progress in implementing its strategic product renewal, unveiling several new models at the Shanghai Auto Show and in other markets.
• Sales revenue rose by 3%, with a notable 30% increase in Western Europe.

• Since the number of companies transitioning to US Type 3 Committees isn’t increasing, a perverse debate has begun on weakening the authority of nomination committees in US Type 3 Committees.
• Despite calls from investors to appoint outside directors as chairpersons of BODs to stimulate discussion and strengthen supervisory functions by separating supervision from execution, these calls have been ignored.
• If the board of directors simply approves plans created by each business division based on their budgets, then it is not involved in important company decisions.