In today’s briefing:
- Why Is Jinke Smart (9666 HK) Still Suspended?
- Lum Chang Creations Limited: Initiating Coverage
- CubeSmart’s Market Tactics Revealed: Are NYC & DC Driving the Next Big Upswing?
- Loadstar Capital K.K. (3482) – Opportunities for Capital Deployment Ahead
- Newmark Group’s Capital Markets Momentum Is Exploding — How Long Can This Breakneck Growth Last?
- T&D Holdings (8795 JP): 1H FY03/26 flash update
Why Is Jinke Smart (9666 HK) Still Suspended?
- Back on the 28th April 2025, PRC-incorporated property management play Jinke Smart Services (9666 HK) announced a possible unconditional MGO take-under at HK$6.67/share.
- The Boyu-backed Offeror and Concert Parties, (then) holding 37.86%, bought a 18.05% stake in Jinke at auction, subject to CSDC oversight. CSGC approval was received on the 19th September.
- The Offer period has been twice extended. Prior to the second extension, shares were suspended. To date, no plausible reason has been given. So I tapped the FA for answers.
Lum Chang Creations Limited: Initiating Coverage
- Lum Chang Creations Limited (LCC) is a niche urban – revitalization specialist, that covers complex conservation and restoration of heritage assets, flagship interior fit -outs for retail/hospitality/healthcare, and A&A (Additions and Alterations) works that upgrade brownfield buildings.
- The company’s service include aftercare for retail programs and selective in-house joinery to control quality on signature elements.
- The operating model is asset -light, with a focus on specialist know -how, repeatable delivery processes, and disciplined subcontractor management.
CubeSmart’s Market Tactics Revealed: Are NYC & DC Driving the Next Big Upswing?
- CubeSmart has presented a mixed financial performance for the third quarter of 2025, reflecting both challenges and opportunities in the self-storage sector.
- Led by President and CEO Chris Marr, the company has managed to outperform its expectations, attributing this to diminishing headwinds from new supply, stronger pricing during peak rental seasons, and the continued health of consumers.
- The company’s strategic focus on urban markets such as the Mid-Atlantic and Northeast has yielded beneficial results, evidenced by solid performance metrics.
Loadstar Capital K.K. (3482) – Opportunities for Capital Deployment Ahead
- Capital recycling activity likely to increase as macro uncertainty fades – Although Q1-3 FY12/25 results show weakening margins, we think the margin dilution is temporary and will recover in the longer- term as the Company monetizes its current real estate portfolio and recycle the capital towards new investments.
- With more certainty on Japan’s fiscal policy under new Prime Minister Takaichi and signs that the US-Japan trade relationship is on a more positive trajectory, deal activity in the Tokyo CRE market is likely to pick up in the coming quarters.
- We believe Loadstar Capital is in a strong position to capitalize on the increase in deal activity to monetize its real estate properties and redeploy capital towards its pipeline of acquisition targets.
Newmark Group’s Capital Markets Momentum Is Exploding — How Long Can This Breakneck Growth Last?
- Newmark Group’s third quarter of 2025 results highlight both strengths and strategic decisions pivotal to its ongoing operations and future trajectory.
- The firm reported a robust 25.9% increase in total revenues, reaching $863.5 million compared to the same quarter last year.
- This performance underscores strong organic growth across various business lines including leasing, capital markets, management services, and valuation and advisory services.
T&D Holdings (8795 JP): 1H FY03/26 flash update
- In 1H FY03/26, ordinary revenues rose 3.6% YoY to JPY1.7tn, with investment income up 32.6% YoY.
- Group adjusted profit fell 13.5% YoY to JPY70.1bn, impacted by decreased investment income from Fortitude.
- MCEV for T&D Insurance Group increased by JPY323.8bn, driven by new business value and higher share prices.
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