Daily Brief Consumer: LG Electronics India, Treehouse Foods, Youngone Corp, BYD, Onward Holdings, G&E Herbal Biotechnology Co, Maxigen Biotech, Union Auction, Unilever Nigeria, Fast Retailing and more

• LG Electronics (066570 KS) is looking to raise US$1.3bn via part-selling its stake in LG Electronics India.
• LG Electronics India (LGEI) was the market leader in India in major home appliances and consumer electronics (excluding mobile phones) in terms of volume, as per Redseer Report.
• We have looked at the company’s past performance in our previous note, in this note we talk about the RHP updates and refresh our peer comparison

• TreeHouse Foods presented their second-quarter results with both positive and negative takeaways.
• The company surpassed its guidance upper ranges for adjusted net sales and adjusted EBITDA, a sign of successful execution in margin improvement strategies.
• However, the volume was pressured due to structural cost reductions and adjustments within their manufacturing network to focus on efficiency.

• Youngone Corp stands as a premier global original equipment manufacturer (OEM) for the outdoor and athletic apparel industry, underpinned by strong, long-term relationships with leading global brands and a vast, efficient manufacturing network.
• While the company faces near-term margin pressures from rising labor costs and potential tariffs, its robust OEM order book, particularly from high-growth brands, provides a solid revenue foundation.
• The company’s strategic ‘Corporate Value-Up’ initiatives, aimed at enhancing shareholder returns by improving ROE and P/B ratios, combined with a potential earnings inflection from its Scott subsidiary, present significant long-term catalysts.

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• BYD (1211 HK) is currently in a position from where it could rally. Our previous insight suggested a possible bottoming area around 100.9 but the stock never reached that low.
• This week the stock rallied to 114.7, then pulled back. If the stock is temporarily bottoming, it could rally past 115 and up to 130 from here. 
• According to our TIME MODEL the duration of the rally could be up to 3-4 weeks (2-3 more weeks up from here).

• Sales increased 18.4% YoY to JPY112.6bn, driven by Domestic Business growth, strategic brands, and expanded product lineup.
• Operating profit rose 9.2% YoY to JPY5.7bn, with improved gross profit margin and increased SG&A ratio due to investments.
• Overseas Business sales declined 11.8% YoY, with operating loss stable; growth strategy targets JPY15.0bn sales in US by FY2030.

• Exceptional Financial Growth: G&E Herbal Biotechnology has demonstrated a remarkable growth trajectory, with a 3-year revenue CAGR of 116.41% and a net income CAGR of 92.50%. This is complemented by significant margin expansion, indicating strong operational efficiency and pricing power.
• Favorable Industry Tailwinds: The company is well-positioned within the rapidly growing global herbal medicine market, which is projected to expand significantly. This growth is driven by increasing consumer preference for natural health solutions, rising wellness consciousness, and supportive government initiatives for traditional medicine.
• Emerging Dividend Story with High Valuation: While the company has recently initiated a dividend, its history is short. The current valuation appears stretched, with a P/E ratio of 32.7x, suggesting that the market has already priced in a significant portion of its future growth prospects. Key risks include regulatory changes and increased competition.

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• Maxigen Biotech is a leading Taiwanese manufacturer of collagen and hyaluronic acid-based medical devices, with a growing presence in the global regenerative medicine and medical aesthetics markets.
• The company is strategically shifting from a contract manufacturing model to a higher-margin, branded product focus, with a key initiative being the expansion of its sales and operations in the U.S. market.
• Consistent revenue growth and strong net income margins, as evidenced by recent financial performance, are driven by increasing demand for minimally invasive aesthetic and orthopedic treatments.

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• Market Leader with Strong Growth Tailwinds: Union Auction is the dominant player in Thailand’s used vehicle auction market, poised to benefit from the growing demand for affordable transportation and a backlog of repossessed vehicles entering the auction pipeline post-pandemic.
• Proven Financial Performance and Shareholder Returns: The company exhibits a history of robust revenue and net income growth, high profit margins, and a strong commitment to shareholder returns through consistent high-payout dividends.
• Digital Transformation and Service Expansion: AUCT is actively investing in its online auction platform, AUCT Live, to enhance customer convenience and efficiency, aiming to increase its online user base and expand its service offerings to solidify its competitive position.

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• In this edition: ABN Amro / ING | AI can save thousands of jobs at AML departments Unilever | Magnum Ice Cream Company will be listed on 10 November E-commerce & Logistics | Temu has entered top 5 of largest marketplaces in Germany

• Fast Retailing (9983 JP) will report FY 2025 results on Thursday, 9 October 2025. Gain insight into earnings-day price history, volatility dynamics, and signals from the options market.
• Expect Volatility: Results have historically driven moves between 2–9%, with announcement-day beta vs. the Nikkei 225 more than doubling. Despite illiquidity, options imply a ±4.7% swing — in line with history.
• Portfolio Impact: As an 8% Nikkei 225 heavyweight, earnings-day moves ripple across the benchmark, making results market-relevant beyond the single stock.