In today’s briefing:
- Kawasaki Heavy Industries (7012 JP): Sell into Strength
- GitLab: How It Is Supercharging DevOps with Game-Changing AI & SaaS Expansion!
- Bike O & Co Ltd (3377 JP): 1H FY11/25 flash update
- China Healthcare Weekly (Jul.6)- Anjoy’s IPO Debut, HEC CJ Pharma’s Merger with Sunshine Lake Pharma
- Carving Out a Niche: The Case for Intel’s Foundry Strategy Beyond the TSMC Benchmark
- Chewy: Can The Reimagined Vet Clinics & Chewy+ Become The Future of Pet Care?
- Jabil Inc’s AI Ambitions—Is An $8.5 Billion Bet On Data Centers The Ultimate Power Move?
- Korea Small Cap Gem #38: Infinitt Healthcare
- Aurubis AG: Initiation of Coverage- Hidden Gold in Metal Yield Diversification Powers Future Growth!
- Alphabet’s Billion-Dollar Bet on Fusion Energy: What’s Powering Google’s Latest Moonshot?
Kawasaki Heavy Industries (7012 JP): Sell into Strength
- KHI has retreated 12% from its June 30 high, but is still 69% above its April low, despite guiding for a decline in orders and weak profits in FY Mar-26.
- Orders from Japan’s Ministry of Defense are forecast to drop from ¥772.3 billion to ¥400 billion this fiscal year, while the overall profit of the Aerospace division drops 14%.
- The potential impact of U.S. tariffs on Power Sports & Engines is not factored into guidance, offsetting what otherwise seem to be conservative assumptions.
GitLab: How It Is Supercharging DevOps with Game-Changing AI & SaaS Expansion!
- GitLab recently reported its financial results for the first quarter of fiscal year 2026, demonstrating a robust revenue increase of 27%, amounting to $214.5 million.
- The company’s non-GAAP operating margin reached a commendable 12.2%, a significant improvement from the previous year’s negative margin.
- GitLab’s CEO, Bill Staples, emphasized the strategic positioning of its AI-native, cloud-agnostic DevSecOps platform, which caters to the entire software development lifecycle and supports a unified data store for contextual AI.
Bike O & Co Ltd (3377 JP): 1H FY11/25 flash update
- In 1H FY11/25, revenue was JPY18.7bn (+13.2% YoY), with operating profit of JPY321mn and net income of JPY186mn.
- Wholesale unit sales increased, retail unit sales declined, but higher average unit prices boosted revenue and gross profit.
- SG&A expenses decreased by 3.3% YoY, contributing to improved profitability, with a workforce of 1,037 employees.
China Healthcare Weekly (Jul.6)- Anjoy’s IPO Debut, HEC CJ Pharma’s Merger with Sunshine Lake Pharma
- For the upcoming 11th national VBP, we think some core and big varieties could be included, involving companies such as Sunshine Lake Pharma, Huadong Medicine, Hansoh Pharmaceutical (3692 HK), etc.
- Anjoy’s IPO is fairly priced. Reasonable valuation range is 10-15x P/E.However, unfavorable factors have led us to take a conservative attitude towards the upside potential of stock price after IPO.
- For Sunshine Lake Pharma’s privatization of HEC Pharma, Composite Document was despatched. However, if investors truly understand “the essence” of HEC Pharma, they will be calm/rational about this absorption merger.
Carving Out a Niche: The Case for Intel’s Foundry Strategy Beyond the TSMC Benchmark
- Tan’s continuation of IDM 2.0 marks a pragmatic recalibration. By focusing on margin recapture and tailored customer models, Intel’s ambitions are not just about competing with TSMC at scale.
- Intel’s 18A node was never intended as a mass-market foundry product; it was a strategic, internal milestone to reestablish process credibility, with commercial foundry ambitions anchored in 18A-P and 14A.
- Intel’s future hinges less on market share and more on executing a credible, margin-accretive foundry model. It could well emerge as a second-source alternative in a geopolitically fragmented supply chain.
Chewy: Can The Reimagined Vet Clinics & Chewy+ Become The Future of Pet Care?
- Chewy Inc., a prominent player in the pet e-commerce space, presented an overall positive first-quarter performance for fiscal year 2025, emphasizing growth initiatives and financial health.
- Chewy reported an 8.3% year-over-year increase in net sales, reaching $3.12 billion, surpassing their guidance estimates.
- This growth was largely driven by robust demand across consumables and health and wellness product categories, with a notable year-over-year hardgoods sales increase of 12.3%.
Jabil Inc’s AI Ambitions—Is An $8.5 Billion Bet On Data Centers The Ultimate Power Move?
- Jabil Inc. presented a strong performance in its third quarter of fiscal year 2025, surpassing expectations in multiple financial metrics.
- The company reported net revenue of $7.8 billion, marking a 16% increase year-over-year and exceeding earlier guidance by $800 million.
- This boost was primarily attributed to the Intelligent Infrastructure sector, particularly in AI-related revenue, supporting robust demand in cloud and data center infrastructure markets.
Korea Small Cap Gem #38: Infinitt Healthcare
- Infinitt Healthcare is a leading Korean healthcare IT solutions specializing in medical imaging and enterprise imaging platforms. It is the number one provider of PACS system in Korea.
- Five major investment highlights include strong export growth, solid growth in sales and operating profits, number one player in PACS system in Korea, strong balance sheet, and attractive valuations.
- The company has a strong balance sheet. Net cash was 150 billion won at the end of 1Q 2025, representing 95% of its market cap.
Aurubis AG: Initiation of Coverage- Hidden Gold in Metal Yield Diversification Powers Future Growth!
- Aurubis AG, a key player in the multimetal production sector, has reported robust performance for the first half of its fiscal year 2024-25, amidst a challenging global market environment.
- The company posted an operating EBT of EUR 229 million, nearly matching the previous year’s figures, and an EBITDA of EUR 341 million.
- A slight increase in return on capital employed to 10.2% was observed, despite an increase in capital employed due to their growth projects.
Alphabet’s Billion-Dollar Bet on Fusion Energy: What’s Powering Google’s Latest Moonshot?
- Alphabet is making headlines once again—this time for a groundbreaking deal that could reshape the future of clean energy.
- In one of the largest commercial commitments yet to nuclear fusion, Google has signed an agreement with Commonwealth Fusion Systems (CFS) to purchase 200 megawatts of electricity from the company’s first commercial fusion power plant, ARC, currently under development in Chesterfield County, Virginia.
- This deal marks a major endorsement of fusion power as a viable long-term solution to the surging energy needs of hyperscale technology companies.
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