Daily Brief Industrials: ANE Cayman Inc, Luxshare Precision Industry, ZIM Integrated Shipping Services, GE Vernova , Pitney Bowes, BQE Water , COPRO-HOLDINGS Co Ltd, Srg Takamiya, Core & Main and more

• ANE Cayman (9956 HK), a road freight transportation play, is suspended pursuant to the Takeovers Code.
• PE outfit Centurium Partners, a pre-IPO investor, holds 24.6%. Two senior management – past & present – hold a further 20.2%. 
• ANE’s share price is up 29% YTD, but 27% adrift of its November 2021 IPO price. 

• Luxshare Precision Industry (002475 CH) (LP), a precision intelligent manufacturer, aims to raise around US$2bn in its H-share listing.
• LP provides cross-sector, vertically integrated development and intelligent manufacturing solutions—from components and modules to systems—for global clients across consumer electronics, automotive electronics, communication and data centers, and other end markets.
• In this note, we look at its past performance and other deal dynamics that might impact the listing.

• ANE Cayman Inc (9956 HK) is on a halt “pending the release of an announcement pursuant to the Code on Takeovers and Mergers which contains inside information of the Company.” 
• I expect the halt is related to a potential privatisation bid from either a trade buyer, such as one of the Tongda operators, or an MBO sponsored by Centurium Capital.
• I use several methods to triangulate the likely offer price, which suggests a range of HK$11.34-11.80 per share, with an average of HK$11.55, a 14% premium to the last close.

• ZIM Integrated Shipping Services reported its second quarter 2025 financial results during a period characterized by severe market disruptions primarily due to tariff changes in the U.S.
• Despite these challenges, the company leveraged its modernized fleet and improved cost structure to generate revenue of $1.6 billion, a net income of $24 million, and an adjusted EBITDA of $472 million.
• The adjusted EBITDA margin stood at 29%, while the adjusted EBIT margin came in at 9%.

• GE Vernova, a recent spin-off from General Electric, has seen its stock skyrocket nearly 5x since its separation in April 2024.
• With the company now trading around $628 and an analyst target pushing it to $740, investor enthusiasm is boiling over.
• The latest catalyst?

Key points (machine generated)

• Pitney Bowes is trading at approximately 5x free cash flow after appointing Kurt Wolf as CEO.
• The company has transformed from a distressed credit to a cash-generating entity with growth catalysts like increased share repurchases.
• Despite positive changes, the stock is undervalued with a 20% levered FCF yield, indicating potential for both short-term and long-term growth.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• What you need to know: • BQE Water has advanced its SART plant for Shandong Gold, the largest gold producer in China, to full production and will provide an initial five years of operational support.
• • The new plant replaces a higher-cost system, recycles cyanide for reuse, and produces copper and zinc concentrates, while reducing costs.
• • BQE now has three SART plants in the region, positioning the Company to further grow its cyanide management business.

• Engineer dispatching company aiming to become a technician support platform company COPRO-HOLDINGS. Co., Ltd. (hereafter, the Company) has achieved sales growth for the past 19 years since its establishment, with its construction and plant technician dispatching business accounting for 89.1% of total sales.
• It has been growing its business by supporting diverse work styles and career development for engineers.
• The Company focuses on highly efficient technician hiring by operating its own recruiting websites and implementing a rigorous hiring process. 

• Takamiya (hereafter, the Company) reported net sales of JPY 9,904 mn (+1.6% YoY), operating profit of JPY 204 mn (-22.2% YoY), ordinary profit of JPY 101 mn (-70.5% YoY), and profit attributable to owners of parent (hereafter, net profit) of JPY 4 mn (-97.8% YoY).
• Gross profit rose to JPY 3,259 mn (+6.3% YoY), and the gross profit margin improved from 31.4% in the same period last year to 32.9%.
• On the other hand, investments in human capital and capital expenditures led to a rise in SG&A expenses, resulting in a decline in the operating profit margin from 2.6% to 2.0% YoY. 

• Core & Main reported a nearly 7% growth in net sales for Q2 2025, largely comprising approximately 5% organic growth.
• This positive sales performance was driven by robust municipal demand, attributed to repair and replacement activities, advanced metering infrastructure projects, and the construction of new water and wastewater treatment facilities.
• However, the residential sector, accounting for around 20% of sales, experienced a slowdown due to high interest rates and affordability concerns, inducing Core & Main to lower its residential market outlook for the remainder of the year.