Daily Brief Industrials: ANE Cayman Inc, Amaero International Ltd, Eurodry, HIRAYAMA Holdings, Mitie Group PLC and more

• I summarise the latest spreads and newsflow of merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Philippines, Thailand and Chinese ADRs.
• Highest spreads: Mayne Pharma (MYX AU), Brainpad Inc (3655 JP), Smart Share Global (EM US), AUB Group Limited (AUB AU), ENN Energy (2688 HK), Dongfeng Motor (489 HK).
• Lowest spreads: Bright Smart Securities (1428 HK), Mandom Corp (4917 JP), Pacific Industrial (7250 JP), Seven West Media (SWM AU), Humm Group (HUM AU), Toyota Industries (6201 JP). 

• Amaero Ltd (ASX:3DA) is a global specialist in advanced materials manufacturing for the defence, aerospace and other industrial sectors, developing a critical metals alloy powder manufacturing facility in Tennessee, USA.
• Releasing its Q1 FY26 results, the company has reaffirmed its guidance for FY26 revenue to be between $30-35m.
• Amaero reported Q1 FY26 revenue of $4.7m which included powder sales of $4.1m and $0.6m in sales from powder metallurgy hot isotastic pressing (PM-HIP) manufacturing, which was an increase of 445% over the previous corresponding period (pcp).

• EuroDry Ltd reported total net revenues of $20.5 million for the first half of 2025, comprising $9.2 million in Q1 and $11.3 million in Q2.
• Net loss attributable to controlling shareholders amounted to $6.8 million for H1 2025, including a Q2 net loss of $3.1 million and a Q1 net loss of $3.7 million, compared to a Q2 2024 net loss of $0.4 million.
• EBITDA stood at $2.8 million, reflecting the impact of lower time charter equivalent (TCE) rates on profitability.

Key points (machine generated)

• HIRAYAMA HOLDINGS Co., Ltd. specializes in manufacturing support, including field engineering and staffing services.
• The company achieved record-high results for FY6/25, with net sales up 2.6% to ¥36,220 million and operating profit up 13.5% to ¥1,270 million.
• Despite recruitment challenges, the company is expanding through mergers and acquisitions to enhance its manufacturing consulting capabilities.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

• Mitie Group plc is a UK-based facilities management company offering services such as cleaning, security, maintenance, energy management, and workplace support.
• It also provides digital and consultancy solutions, including smart building technology and carbon reduction strategies.
• Serving both public and private sector clients, Mitie operates through integrated, outsourced service models.