In today’s briefing:
- Sea Ltd (SE US): Inside the Rally – What Drove the 20% Post Earnings Surge?
- Tencent (700 HK): 2Q25, Game Revenue Up by 22%, FinTech Back to 2 Digits
- Super Dovish Comments From Bessent Fuels Home Builder Strength
- 10x Genomics + Scale Bio: The High-Plex Power Move Wall Street Didn’t See Coming
- Container Port Terminal Screener August 2025: Strong Q2 Results Season
- Metaplanet (3350 JP): 1H FY12/25 flash update
- Avantor Faces Activist Fire: Why Engine Capital Wants It Sold Now?
- Hugel Inc (145020 KS): Strong Overseas Sales Drive 2Q Performance; Positive Outlook
- JYP Entertainment: Explosive Earnings Growth in 2Q 2025
- Western Union’s $500 Million Intermex Deal: The High-Stakes Bet On Corridor Dominance!
Sea Ltd (SE US): Inside the Rally – What Drove the 20% Post Earnings Surge?
- Sea Ltd’s stock surged nearly 20% yesterday after it reported 2Q 2025 results that beat street expectations across key metrics.
- During the investor call, Management sounded confident in sustaining growth while improving profitability, citing a vast addressable market and an emerging logistics cost advantage.
- Full-Year gaming guidance was raised on the back of Free Fire’s strong momentum across performance metrics.
Tencent (700 HK): 2Q25, Game Revenue Up by 22%, FinTech Back to 2 Digits
- In 2Q25, game revenue increased by 22% YoY and FinTech revenue growth reached two digits.
- The operating margin improved to 34.5% in 2Q25 compared to 30.6% in 2Q24.
- The 10-year P/E band suggests an upside of 22.5% and a target price of HK$718 for year end 2025.
Super Dovish Comments From Bessent Fuels Home Builder Strength
- Sentiment for Sumitomo Forestry will continues to rise with pressure on US rates increasing.
- Coreweave fails to live up to the hype dropping -20% on profit miss, but topline growth remains strong
- Cisco Systems reporting their AI infrastructure orders were double initial expectations for 2025
10x Genomics + Scale Bio: The High-Plex Power Move Wall Street Didn’t See Coming
- 10x Genomics has been in the spotlight recently after signaling strong interest in acquiring Scale Biosciences—an emerging leader in split-pool combinatorial barcoding for ultra-high-plex single-cell assays.
- Just days after posting mixed Q1 results impacted by U.S. academic funding headwinds, CEO Serge Saxonov affirmed a strategy centered on innovation and partnership to sustain momentum in single-cell and spatial genomics.
- Scale’s technology promises instrument-free barcoding kits, sample-pooling workflows, and its first commercial single-cell methylation solution—all of which could integrate seamlessly into 10x’s Chromium and Xenium platforms.
Container Port Terminal Screener August 2025: Strong Q2 Results Season
- ICTSI (ICT PM) and Westports Holdings (WPRTS MK) have reported strong results, which we will summarize.
- Asian Terminals (ATI PM) made three large share buyback transactions in August, which we will highlight. The company is due to report its Q2 results soon.
- Our preference is, in order of priority, Asian Terminals (ATI PM)/ICTSI (ICT PM) and Westports Holdings (WPRTS MK).
Metaplanet (3350 JP): 1H FY12/25 flash update
- Revenue reached JPY2.1bn, with Bitcoin Treasury Operations at JPY1.9bn and Hotel business at JPY212mn (+25.8% YoY).
- Operating profit was JPY1.4bn, with Bitcoin Treasury at JPY1.6bn and Hotel business contributing JPY82mn.
- Bitcoin holdings increased to 13,350 BTC, with BTC yield at 129.4% in Q2, exceeding the 35% target.
Avantor Faces Activist Fire: Why Engine Capital Wants It Sold Now?
- Avantor, the $7.8 billion life sciences supplier headquartered in Radnor, Pennsylvania, has recently drawn the attention of activist investor Engine Capital, which has taken a roughly 3% stake in the company.
- The move comes after a tumultuous year in which Avantor’s shares fell nearly 50%, pressured by weakened demand—especially in government and education sectors due to research funding cuts—and the April announcement of its longtime CEO’s departure.
- Now, with a new chief executive, Emmanuel Ligner, set to take the helm in mid-August, Engine Capital is urging Avantor to either sell itself outright or embark on a strategic overhaul that could include a board refresh, cost reductions, stock buybacks, and divestitures of noncore assets.
Hugel Inc (145020 KS): Strong Overseas Sales Drive 2Q Performance; Positive Outlook
- Hugel Inc (145020 KS) has reported strong 2Q25 result, with all key parameters marking the highest quarterly figures in the company’s history and contributed to a record first-half performance.
- Overseas revenue of toxin and derma fillers rose 21% YoY to KRW70B, accounting for 63% of the company’s total sales, boosted by robust growth in the U.S., China, and Europe.
- Hugel is well-positioned to report ~20% annual revenue growth through 2027 through global expansion amid favorable industry backdrop.
JYP Entertainment: Explosive Earnings Growth in 2Q 2025
- JYP Entertainment reported an explosive growth in sales and profits in 2Q 2025. It achieved sales of 215.8 billion won (up 125.5% YoY and 6.4% higher than consensus).
- JYP also had an operating profit of 52.9 billion won (up 466.5% YoY and 23.3% higher than consensus in 2Q 2025.
- JYP’s much better than expected results in 2Q 2025 confirms its ability to monetize the growing popularity of K-Pop globally.
Western Union’s $500 Million Intermex Deal: The High-Stakes Bet On Corridor Dominance!
- Western Union is making strategic headlines with its agreement to acquire International Money Express for $16 per share in cash, valuing the deal at roughly $500 million.
- The acquisition price reflects a 50% premium to Intermex’s 90-day volume-weighted average price and signals Western Union’s intent to strengthen its U.S. retail footprint while expanding into high-potential geographies.
- The move comes amid a challenging macro backdrop for Western Union, which recently reported Q2 2025 revenues of $1.026 billion, down 1% year-over-year (excluding Iraq), with ongoing headwinds in U.S. outbound corridors due to heightened immigration enforcement.
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