Daily Brief Consumer: PointsBet Holdings , Laopu Gold, Anta Sports Products, Pop Mart, Toyota Motor, New Oriental Education & Techn, Topps Tiles, Flutter Entertainment, Dydo Drinco Inc and more

• Betr Entertainment (BBT AU) has bumped scrip terms to 4.375 betr shares per PointsBet Holdings (PBH AU) share, equivalent to A$1.31/share, based on betr’s last traded price. 
• True to form with betr, there’s a typo in its latest announcement stating a 4.735 ratio. betr just issued a Bidder’s Statement with the correct info.
• Apologies: in my last note I mentioned Mixi Inc (2121 JP) had bumped to A$1.30/share. However, that was predicated on Mixi securing 90%, which won’t happen if betr doesn’t tender.

• What seems to be the controlling shareholder of Laopu Gold (6181 HK), aims to raise around US$250m via selling 1.6% of the company.
• The shares have done very well since its listing and the previous deal in the name did well too.
• In this note, we talk about the deal dynamics and run the deal through our ECM framework.

• Anta Sports acquired Jack Wolfskin in April 2025 so that “other brands” revenues surged by 61% YoY in 1H25.
• The margin pressure came from e-commerce promotion and product function development.
• We conclude an upside of 18% and a price target of HK$120. Buy.

• Shares of Pop Mart International Group Ltd. hit an all-time high after the Chinese toymaker posted strong half-year earnings, fueled by frenzied demand for its Labubu plushies in the U.S. and other overseas markets.
• The Hong Kong-listed company’s profit soared 385.6% year-on-year to nearly 4.7 billion yuan ($654.9 million) in the first half of 2025, while revenue jumped 204.4% to almost 13.9 billion yuan, according to a stock exchange filing on Tuesday.
• Notably, Pop Mart’s revenue from the Americas skyrocketed more than twelvefold from the first half of 2024, while sales in Europe and other regions excluding Asia-Pacific jumped more than eightfold.

• Context: After three consecutive up weeks, Toyota (7203 JP) / Toyota ADR (TM US) now screens as overbought, with quantitative models signaling a high probability of a trend reversal.
• Trade Idea: Elevated implied volatility (82–83rd percentile) makes short call strategies attractive. Selling near-term calls captures rich premium while aligning with downside risk.
• Why Read: This Insight highlights a timely opportunity where technical overbought signals and historically rich IV converge — ideal for investors seeking a tactical setup.

• New Oriental is an education service company based in China that has seen significant growth and success since its founding in 1993.
• The company faced challenges in 2021 due to policy changes in China, but has since recovered and is deemed undervalued by Xu Zhong Xu.
• Xu Zhong Xu, a knowledgeable investor with background in the education industry, provides insights on the company’s history, growth trajectory, and potential for continued success.

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

Topps Tiles’ (TPT’s) diversification into larger addressable markets with more trading brands means it is well-placed to service more products to more customers in more sectors, and with greater efficiency given the associated investment in operations. There has been good progress with the Mission 365 growth initiatives, albeit these were somewhat masked by a tough trading environment in FY24. Our multiple valuation methods confirm similar upside to the current share price, to at least 111p/share, even at the conservative end of management’s financial goals.

• Pointerra Ltd (ASX:3DP) provides a powerful cloud-based solution (Pointerra3D) for managing, visualising, analysing, using and sharing massive 3D point clouds and geo-spatial datasets.
• Pointerra3D is a proprietary digital twin Software-as-a-Service (SaaS) platform which delivers predictive digital insights and definitive answers to complex physical asset management questions.
• Pointerra has reported FY25 revenue of $11.0m, up 45% on the previous corresponding period (pcp) and largely in-line with our forecast.

• Flutter Entertainment reported positive results for the second quarter of 2025, showcasing significant growth across its U.S. and international segments.
• The company witnessed a 16% increase in revenue and a 25% rise in adjusted EBITDA compared to the previous year.
• This growth was fueled by strong engagement with approximately 16 million average monthly players and substantial operational improvements across the board.

• In 1H FY01/26, revenue was JPY117.7bn (+0.1% YoY), with operating profit at JPY1.4bn (-39.5% YoY).
• Domestic Beverage business revenue was JPY71.5bn (-2.0% YoY), with an operating loss of JPY2.0bn.
• International Beverage business revenue was JPY28.8bn (+7.5% YoY), with operating profit of JPY3.1bn (+37.2% YoY).